A semester to remember Azimuthwhich closes in the first half of 2024 with adjusted net income 330 million euros, growing by 43% compared to 2023 and above all «on the line that will exceed target of 500 millionfrom the 250 million that we started five years ago”, commented the president of the holding, Pietro Giuliani.
The private market factor
In detail, total revenue for the half year reached 702 million (+9% year-on-year), with recurring management fees at 590 million. This growth, the company said in a note, “is driven by revenues derived from private markets, advisory services and asset management”. The contribution of revenues abroad, particularly in Italy, should not be forgotten Australia, Turkey, Brazil and Monaco.
In six months raised 10 billion
“The expansion strategy of Azimuth in the world shows how, at a time when the asset management industry in Italy is struggling to develop, Azimuth was done reach i 10 billion in net collections in just six months”, continues Giuliani, who also remembers that the company is currently in charge 102.5 billion masses, of which about half were collected abroad. The collection target for the whole of 2024 was initially set at 7 billion. “The decision made 10 years ago to enter the private markets satisfies customers thanks to the range of products and advice of our financial advisors, unique in Italy,” continued the manager.
20 years after listing
Last month Azimuth he has done it 20 years from the listing in Piazza Affari, and 34 years since phonation. Over the years at the stock exchange, Giuliani recalled, “we multiplied the capital invested by our shareholders approximately 15 times: 100,000 euros invested is now 1.5 million”. (All rights reserved)