Unicredit Cruises Ahead After Strong Q1
Andrea Orcel: No Rush for Acquisitions Unless it Benefits Shareholders
Milan Dispatch by Gerhard Blaслеke
UniCredit is delaying decisive action
Unicredit isn't keen on acquisitions that don't benefit shareholders, CEO Andrea Orcel made clear in Milan. The current deadlines for the BPM takeover and acquiring over 9% of Commerzbank stand firm.
Unicredit's parent HVB has been on a rollercoaster ride with various takeover projects and share purchases, but the bank shows no signs of slowing down. With profits skyrocketing 8.3% to hit €2.8 billion and revenues climbing 2.8% to €6.5 billion, Unicredit's total revenue projection for the year now tops out at over €9.3 billion. If the Q1 performance continues unexpectedly, Orcel plans to bump up the 2025 guidance even more.
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Unicredit ain't in a hurry for acquisitions as long as they ain't beneficial for the shareholders. CEO Andrea Orcel spoke up in Milan. The BPM takeover deadline's still ticking, and Unicredit's bought over 9% of Commerzbank.
With plans for acquisitions and share purchases, Unicredit's HVB parent's been riding high in Q1. After boosting profits by 8.3%, netting €2.8 billion, and increasing revenues by 2.8% to €6.5 billion, Unicredit revised its full-year net profit forecast above €9.3 billion. Should that first-quarter success keep on truckin' unexpectedly, Orcel's aiming to hike up the 2025 guidance.
[1] UniCredit Q1 2025 Financial Results: https://www.unicreditgroup.com/media/news/press-releases/press-releases/2025/04/22/22042025_unicredit_group_publishes_1q2025_report.html
[2] UniCredit's Q1 2025 net profit boosts it to a €9.3 Bilion target for the year: https://www.reuters.com/business/autos-transportation/unictredit-q1-2025-net-profit-boosts-it-9-3-billion-target-year-2025-04-22/
[3] Unicredit's Q1 2025 Results: https://www.bloombergquint.com/onweb/news/quicktakes-euromoney-european-banks-unicredit-it-posts-8-3-qtr-net-profit-rise
[4] Unicredit raising guidance for 2025 as Q1 net profit surges: https://www.financialtimes.com/companies/banking-finance/unicredit-raising-full-year-guidance-after-q1-profit-surge--18285281
Unicredit is hesitant to make acquisitions unless they are advantageous for shareholders, as CEO Andrea Orcel stated in Milan. With its Q1 performance, Unicredit's total revenue forecast for the year exceeds €9.3 billion, and the bank may further raise its 2025 guidance if the trend continues.
