May 8, 2024
Pursuant to the Rules of the Ljubljana Stock Exchange and Article 158 of the Market Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana, announces:
NLB Group Delivers Solid Results in Q1 with EUR 140.0 Million of Result After Tax
A stable business environment with moderately slowing economic growth in the South-eastern European (SEE) region, and stagnant inflation rates in the first quarter of the year materialized in the solid business results for NLB Group.
The Group's performance in the first quarter that led to EUR 140.0 million of result after tax is confirmation that the Group is well on track to bring about the expected results, communicated in the 2024 outlook. Furthermore, for the market participants who are constantly re-assessing the business and market situation, it should come as no surprise that the evolution of the global macroeconomic trends at the beginning of the year have led NLB Group to increase the outlook for the regular income for 2024 by approximately EUR 100 million. Increased guidance for the revenue, coupled with cost discipline has allowed for sharpened guidance for the cost-to-income ratio. The Bank now expects that CIR will be around 45% in both 2024 and 2025, a substantial improvement from the previous guidance of below 50%.
You may find key highlights of the NLB Groups' business operations in the First Quarter 2024, Investor presentation and NLB Group Factsheet on the links below.
• Key Highlights in the First Quarter 2024
NLB Group will reveal more about the key performance indicators together with the expected business development in the future, as well as the new business strategy and vision for 2030 at tomorrow's (9 May, 2024) NLB Investor Day: New Capital Horizons.
"As NLB team we are honoured and looking forward to the fact that tomorrow we will once again have the opportunity not only to welcome our shareholders, potential investors, analysts, and financial experts from across the globe, as well as representatives of key regional companies, but above all to be able to present to them the ambitious strategy of our NLB Group until 2030," said NLB's CEO Blaž Brodnjak upon the publication of the results. "With a thorough understanding of the business environment and a careful consideration of the risks, the new business strategy draws a path that will continue to justify the trust of our shareholders with strong dividend payments, while at the same time pursuing long-term development of the Group and indirectly, also the wider economic environment in our home region," he explained further.
The Supervisory Board's Chairman Primož Karpe also expressed confidence in the future development of the NLB Group. "Our trust is strengthened by the Group's stable business results and its constant adaptation and response to market conditions," he said. "At the Supervisory Board, our mindset strongly supports the Bank's and Group's future strategy in a way that unlocks shareholder value. The time has come to talk about value creation that a sustainable banking business model can generate going forward," he added.
You are Kindly Invited to Follow NLB Investor Day: New Capital Horizons
As mentioned, the second NLB Investor Day: New Capital Horizons will be held tomorrow, on Thursday, 9 May, 2024, at the Grand Hotel Union Eurostars in Ljubljana, Slovenia, and will be focusing on presenting NLB and NLB Group's new business strategy and a vision for 2030. The registration for the event live is no longer possible. However, the interested public can follow the event online by registering here. A recording of the event will later also be available on demand.
A day later, on Friday, May 10, 2024, NLB Investor Day will be followed by the Slovenian and Croatian Investor Conference, powered by NLB, which will offer an opportunity to interested investors to meet some of the top listed companies from those two markets.
Investor Relations
NLB d.d., Ljubljana
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