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BFF Bank SpA
(BFF)
BFF Bank SpA (BFF) vs. iShares MSCI Italy ETF (EWI)
BFF Bank SpA Business Overview & Revenue Model
BFF Bank SpA Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 733.81M | 778.27M | 783.06M | 508.14M | 341.15M | 268.58M |
| Gross Profit | 402.03M | 394.10M | 437.80M | 415.15M | 301.60M | 221.71M |
| EBITDA | 185.94M | 315.71M | 248.05M | 342.75M | 206.74M | 129.23M |
| Net Income | 124.31M | 215.68M | 171.66M | 232.05M | 197.37M | 91.07M |
Balance Sheet | ||||||
| Total Assets | 13.22B | 12.15B | 12.29B | 13.34B | 11.18B | 6.05B |
| Cash, Cash Equivalents and Short-Term Investments | 1.10B | 305.84M | 593.89M | 911.33M | 825.03M | 204.47M |
| Total Debt | 742.13M | 750.35M | 242.47M | 242.77M | 379.63M | 1.01B |
| Total Liabilities | 12.28B | 11.27B | 11.53B | 12.58B | 10.61B | 5.59B |
| Stockholders Equity | 943.62M | 876.81M | 758.81M | 758.77M | 571.60M | 462.58M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 10.14M | -216.54M | 124.41M | 471.91M | 97.69M |
| Operating Cash Flow | 0.00 | 41.51M | -184.87M | 157.56M | 533.23M | 104.67M |
| Investing Cash Flow | 0.00 | -44.17M | -31.67M | -33.32M | -71.04M | -7.06M |
| Financing Cash Flow | 0.00 | -101.21M | -162.21M | -43.83M | -97.32M | -2.63M |
BFF Bank SpA Technical Analysis
BFF Bank SpA Peers Comparison
BFF Bank SpA Corporate Events
B.F. S.p.A., the Euronext Milan‑listed holding company active in Italy’s agro‑industrial supply chain and in agricultural services and products, has updated the structure of its share capital and voting rights following the activation of increased voting rights on a portion of its ordinary shares. As of 1 February 2026, increased voting rights attached to 391,302 ordinary shares have come into effect, lifting the total number of shares with enhanced voting power to 99,497,078 and bringing total voting rights to 361,380,469, compared with 360,989,167 previously; the move, implemented under Italian financial regulations and the company’s own bylaws, reinforces the role of longer‑term shareholders and slightly strengthens the concentration of voting power without altering the total number of ordinary shares in circulation.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR9.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank has approved a set of extraordinary de-risking actions on its factoring portfolio ahead of a potential securitisation, including around €95 million in pre-tax one-off items in 2025 and a reduction in non-performing exposures, while also restating 2024 shareholders’ equity downward by about €14 million due to past collection errors. Despite the short-term hit to reported 2025 earnings, the bank expects adjusted net profit of about €150 million next year with robust capital ratios, has updated its 2026 financial targets to an adjusted net profit of around €160 million, and is tightening provisioning and extending expected collection times on late payment interest to improve the predictability and structural strength of future profitability for stakeholders.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR9.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has published its 2026 financial calendar, detailing the dates for Board of Directors meetings and the Ordinary Shareholders’ Meeting to approve the 2025 annual results, as well as interim and half-year financial reports throughout 2026, and will hold earnings calls with the market around each set of consolidated results. The bank’s Board has also decided to voluntarily provide additional quarterly consolidated balance sheet and income statement information for 2026, including capital ratios and key performance indicators, to maintain continuity of disclosure, align with practices adopted by other listed banks, and support transparent dialogue with shareholders and bondholders, with all materials to be released via official channels and the investor relations section of its website.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR8.50 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
B.F. S.p.A., an Euronext Milan–listed agro‑industrial holding company providing products and services to farmers through its subsidiaries, has formalized an update to its corporate governance framework. The company announced that the bylaws approved at its extraordinary shareholders’ meeting on 17 December have now been filed with the Companies’ Register of Ferrara and made publicly available on its website and via the authorized storage mechanism 1Info, reinforcing transparency and regulatory compliance for investors and other stakeholders.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
At an extraordinary shareholders’ meeting of B.F. S.p.A. held on 17 December 2025 in Milan, investors were asked to approve amendments to several articles of the company’s Articles of Association, covering a broad set of governance provisions. All voting rights were represented at the meeting, with 100% of the voting capital present and 77.47% of total voting rights, and the proposed changes were overwhelmingly approved, with 99.997% of votes in favour and negligible opposition, underscoring strong shareholder backing for the company’s updated governance framework and its future corporate structure.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
B.F. S.p.A. has refreshed its board structure following the resignation of non-executive director Riccardo Bovino, who also sat on the Nomination and Remuneration Committee. After the next two candidates from the same shareholder list were considered, the board co-opted Alessandra Bonetti, previously an unelected candidate on the Arum S.p.A. list, as a new non-executive director and appointed her to the Nomination and Remuneration Committee, confirming that she meets the required reputation and gender-balance criteria. The committee is now composed of Chair Maria Teresa Bianchi, Bonetti and Carlo Boni Brivio, ensuring continuity in corporate governance and adherence to regulatory standards without any change in the company’s ownership structure or disclosed shareholdings by the new director.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
B.F. S.p.A. has made available the answers to shareholder questions submitted before the Extraordinary Shareholders’ Meeting scheduled for December 17, 2025. This move is part of the company’s commitment to transparency and effective communication with its stakeholders, reinforcing its position in the agri-food sector and potentially impacting shareholder engagement positively.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BF International, a subsidiary of B.F. S.p.A., has signed an agreement to acquire F.lli Martini & C. S.p.A., an Italian industrial group with a focus on feed, livestock, and food, for Euro 220 million. This acquisition is part of BF Group’s strategy to enhance its position in the animal protein supply chain, aiming for sustainable and high-value-added production models, with the transaction expected to complete by May 2026.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank SpA has announced a series of capital increase operations involving its subsidiary, BF International Best Fields Best Food Limited (BFI), aimed at supporting the internationalization project of the BF Group. These operations include significant investments from both B.F. S.p.A. and Dompé Holdings S.r.l., with the transactions being classified as ‘transactions of greater significance’ due to their scale. The operations are expected to provide necessary resources for the group’s short and medium-term commitments, with the involvement of related parties and adherence to regulatory procedures.
The most recent analyst rating on (IT:BFF) stock is a Hold with a EUR10.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has announced a change in its share capital following a partial execution of a free share capital increase, resulting in the issuance of 29,870 new ordinary shares. This move is part of the bank’s remuneration and incentive policies, aligning with its Management by Objective incentive system and stock option plans, potentially impacting its operational strategies and stakeholder interests.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has received an improved Outlook from ‘Stable’ to ‘Positive’ by Standard Ethics, reflecting the bank’s advancements in sustainability practices. The bank has adopted various ESG policies and a decarbonization strategy, aligning with international guidelines and enhancing its governance and risk management systems, which strengthens its industry positioning and stakeholder trust.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank SpA announced the resignation of Riccardo Bovino from its Board of Directors, effective December 6, 2025, due to personal commitments. Bovino, who was a non-executive director and part of the Nominations and Remuneration Committee, will not receive any compensation or benefits upon his departure and does not hold any shares in the company.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
B.F. S.p.A. has announced the total number of shares with increased voting rights as of December 1, 2025, amounting to 99,357,776. This update, in line with the company’s Articles of Association and Regulations on Increased Voting Rights, reflects its commitment to enhancing shareholder engagement and governance, potentially impacting its market positioning and investor relations.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has updated its Medium Term Note Program to €2.5 billion, following approval by the Central Bank of Ireland. This update reflects BFF’s strategy to diversify funding sources and enhance its presence in capital markets, with the program allowing issuance of various securities, including those aligned with its Social Bond Framework.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
Moody’s has upgraded all ratings of BFF Bank S.p.A., reflecting an improved capital position and reduced refinancing risk, alongside updates to Moody’s bank rating methodology. The upgrades enhance BFF’s creditworthiness, positioning it one notch above investment grade, which could positively impact its operations and stakeholder confidence.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has announced the publication of its updated Articles of Association following a partial execution of a free capital increase. These changes have been made available to the public, reflecting the bank’s ongoing efforts to maintain transparency and governance standards. This update may impact the bank’s operations by aligning its governance structure with recent financial activities, potentially influencing its market positioning and stakeholder relations.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank SpA has announced an Extraordinary Shareholders’ Meeting scheduled for December 17, 2025, to discuss amendments to several articles of its Articles of Association. The meeting will be conducted exclusively via proxy, with no physical attendance allowed, in accordance with Italian legislative provisions. This decision reflects an adaptation to legal frameworks and signifies a strategic move to streamline shareholder participation processes.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
B.F. S.p.A. has announced an extraordinary shareholders’ meeting scheduled for December 17, 2025, to discuss proposed amendments to its Articles of Association. These amendments aim to align the company’s governance framework with recent regulatory changes and leverage new opportunities under current regulations, potentially impacting its corporate governance and operational efficiency.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. has announced the allocation of shares under its incentive system, as part of its Remuneration and Incentive Policy. This transaction, involving 2,390 shares at a price of zero euros, reflects the bank’s ongoing commitment to rewarding its management team, potentially impacting its internal operations and stakeholder engagement.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR13.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BFF Bank S.p.A. reported a record performance for the first nine months of 2025, with a notable increase in its credit portfolio and volumes. The bank’s adjusted net profit rose to €118.1 million, marking a 14% increase from the previous year, and its third-quarter profit surged by 33% year-on-year. The bank’s strategic financial management, including a positive change in government securities and a reduction in past due amounts, underscores its robust operational efficiency. The removal of bans on dividends and market expansion signals potential growth opportunities, while the bank maintains a strong capital position with a CET1 ratio of 13.4%.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR12.50 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
BF Agro-Industriale S.r.l., a subsidiary of B.F. S.p.A., along with minority shareholders, has entered into an agreement with PM&PARTNERS SGR S.p.A. and Armònia SGR S.p.A. for the acquisition of BIA S.p.A. The acquisition, valued at 57 million euros, includes potential earn-out and earn-in adjustments based on EBITDA targets. The transaction is expected to be completed by December 31, 2025, subject to certain conditions, including the signing of a financing contract and a shareholders’ agreement that will regulate governance and share circulation.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR12.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.
PM&Partners and Armònia have acquired a majority stake in BIA S.p.A., a leading European cous cous producer, to accelerate its growth and strengthen its market position. The acquisition, supported by reinvestments from current shareholders, aims to enhance BIA’s development through strategic investments and expansion in high-value markets.
The most recent analyst rating on (IT:BFF) stock is a Buy with a EUR12.00 price target. To see the full list of analyst forecasts on BFF Bank SpA stock, see the IT:BFF Stock Forecast page.