REG - Nova Ljubljanska - Unaudited Full Year 2023 Results

Nova Ljubljanska Banka dd LjubljanaAnnouncement

22/02/2024 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240222:nRSV1211Ea&default-theme=true

RNS Number : 1211E  Nova Ljubljanska Banka d.d.  22 February 2024

Nova Ljubljanska Banka, d.d.

 

NLB Group Ends 2023 on Strong Footing, Hikes 2024 Dividends to EUR 220 million
and Continues to Act Proactively and Responsibly Towards All Stakeholders

 

 

Pursuant to the Rules of the Ljubljana Stock Exchange and Article 17 of the
Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana,
announces: NLB Group performed strongly in the full year 2023 with EUR 550.7
million of result after tax. Yet at the same time the Group continued to take
responsible actions and with its strategic planning and business decisions
laid foundations for stable, growth oriented and profitable operations also in
the years to come. In addition, its donations and sponsorship support to
humanitarian, health, cultural, sport and other pillars of society continued
to create better footprints and helped improving the quality of life in our
home region.

 

You may find key highlights of the NLB Groups' business operations in the
Fourth Quarter 2023 and Full Year 2023, Investor presentation and NLB Group
Factsheet on the links below.

 

•    Key Highlights in the Fourth Quarter 2023 and Full Year 2023
(http://www.nlb.si/nlb/nlb-portal/eng/investor-relations/financial-reports/2023/nlb_key-highlights-fy2023-unaudited-results-eng.pdf)

•    Investor presentation
(http://www.nlb.si/nlb/nlb-portal/eng/investor-relations/financial-reports/2023/nlb-group-presentation-q4-fy2023-unaudited.pdf)

•    NLB Group Factsheet
(http://www.nlb.si/nlb/nlb-portal/eng/investor-relations/financial-reports/2023/annual-2023-nlb-group-factsheet.pdf)

 

The Group's dedication to the social responsibility was especially evident
during the August floods in Slovenia: to eliminate the consequences of which
bank donated a total of EUR 9.5 million. From that amount, EUR 4 million were
allocated to the 20 worst-affected municipalities for sustainable
reconstruction and investments; a solidarity fund of EUR 0.5 million was
established for dozens NLB employees affected by the disaster; and EUR 5
million were allocated to the budget of the Republic of Slovenia, earmarked to
addressing the consequences of the floods. Furthermore, under the recently
adopted reconstruction law, which also imposes a tax on banks' total assets
starting with January 1st, 2024, NLB will be paying an additional balance
sheet tax in the amount exceeding EUR 30 million annually for the next five
years. Combining donations and tax on total assets, NLB will contribute over
EUR 170 million for the recovery after natural disasters.

 

Besides creating value for our shareholders and enhancing banking services, it
is in 2023 relevant to highlight the legal and operational merger of N Banka,
completed in September. The process was accomplished within the envisaged
timeframe and budget as yet another indication of the Group's proven capacity
to acquire and seamlessly consolidate and integrate businesses. Another
significant milestone for the Group was the signing of sale and purchase
agreement for Summit Leasing Slovenia in November. Subject to regulatory
clearance, this transaction will help NLB Group accelerate its ambitions in
the strategically important leasing segment and build on the ambition of the
Group to add value for the shareholders and provide the clients with
additional services and solutions.

 

In this once more breakthrough year the Group also achieved significant
progress at its ESG endeavours. At the end of 2023, Sustainalytics recognised
notable improvement and awarded NLB a rating of 16.0 (an improvement by 1.7
points), ranking NLB among the top 13 per cent of banks, assessed by the firm.

 

"Strong business results of NLB Group in 2023 call for a positive reflection
on the one hand, and an awareness of even greater responsibility of the
hard-working team on the other. They enable us to significantly increase our
dividend payments to 40% pay-out ratio of previous years' profit after tax,
which in 2024 translates to EUR 220 million in dividends. This represents a
100% increase from dividend payments made in 2023 or more than 75% of the so
far's guidance for the cumulative payment until the end of 2025, while at the
same time retaining stable organic and/or M&A driven growth capacity,"
emphasized NLB's CEO Blaž Brodnjak upon the publications of the results.

 

As he explained further, NLB Group has been laying very solid foundations for
further value accretive growth of the Group in all of existing and potentially
some new regional markets. "Details of the new mid-term business strategy of
NLB Group will be disclosed at the upcoming Investor Day on May 9th in
Ljubljana (https://www.nlb.si/investorday) ," he added.

 

On behalf of the Supervisory Board, its Chairman Primož Karpe also expressed
satisfaction with the successful operations of NLB Group in the past year.
"The Supervisory Board, however, is particularly pleased with the Groups'
understanding of its role in the economies and societies of the region and the
proactive approach it has taken when addressing its challenges and future. The
Group is aware of the constant need to invest in talents, underlying
future-proof technology, the business environment and identifying future
growth opportunities, being organic or inorganic, and is taking action today
to be stable and prosperous tomorrow."

 

Invitation to the Earnings Call

 

We kindly invite all interested stakeholders to the Fourth Quarter 2023 and
Full Year 2023 Financial Results Earnings Call, hosted by the Management
Board of NLB, that will take place on Thursday, 22(nd) February, 2024, at
16:00 CET/15.00 GMT and will be available here: https://www.nlb.si/ir-events
(https://www.nlb.si/ir-events) .

 

Members of the Management Board will, as usual, receive and address your
questions live during the webcast, however, if you already know what you wish
to ask them, you may submit your questions now. If you register for the event,
you will be able to send them via the web app, or you may simply send them to
the email address IR@nlb.si (mailto:IR@nlb.si) .

 

Investor Relations

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAEAAALDLEFA