Q2 2019 UniCredit SpA Earnings Call Transcript
Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the UniCredit Second Quarter First Half 2019 Results Conference Call. (Operator Instructions) The conference is being recorded. (Operator Instructions)
At this time, I would like to hand the call over to Mr. Jean-Pierre Mustier, CEO of UniCredit. Please go ahead, sir.
Thank you very much, and good morning to you all, and welcome to our second quarter 2019 analyst call. Before we start, I would like to point out 2 things. First, we had a number of exceptional items this quarter. The reason is that we took a number of strategic decisions such as the disposal of Fineco and the sale of Ocean Breeze. Some had a positive impact, such as Fineco, while others had a negative impact, such as Ocean Breeze. The overall impact is net positive. To give you a true and fair view of our operating performance in the quarter, we will focus our discussion on the adjusted net profit that excludes this nonrecurring item. We
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