Italy · Delayed Price · Currency is EUR Azimut Holding Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw record net inflows and double-digit profit growth, with strong global expansion and robust margins. Guidance for 2026 is reaffirmed, with over half of annual net inflow targets already achieved by April. Shareholder returns and M&A remain balanced priorities.
Fiscal Year 2025
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Record net inflows and profit in 2025 were driven by global expansion and recurring revenues, with a 20% rise in recurring net profit and a robust capital return plan. Early 2026 momentum is strong, and guidance targets EUR 10 billion net inflows and EUR 550 million core net profit.
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Record net inflows and recurring profit growth highlight robust global expansion and business diversification. Upgraded profit guidance, a major share buyback, and the TNB transaction set the stage for ambitious 2030 targets and enhanced shareholder returns.
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Record H1 2025 net inflows and 18% recurring net income growth highlight platform resilience. Upgraded 2025 guidance projects net inflows of EUR 28–31 billion and net profit above EUR 1 billion, with strong organic and M&A-driven expansion.
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A binding agreement with FSI launches TNB, a digital wealth bank, unlocking over €1.2 billion in value and securing a €2.4 billion revenue guarantee for Azimut. The transaction preserves most earnings power, strengthens capital, and sets a new €1 billion net profit target.
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Record net inflows and recurring net income growth marked a strong Q1, with total assets at EUR 107 billion and significant international expansion. Recurring profitability improved despite FX headwinds and lower performance fees, and strategic targets remain on track.
Fiscal Year 2024
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Record revenues and strong net profit in 2024, with full deleveraging and a proposed EUR 1.75 dividend per share. 2025 guidance targets EUR 10 billion net inflows and net profit between EUR 400 million and EUR 1.25 billion, with ongoing international expansion and TNB transaction progress.
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Net inflows and adjusted net income surged year-over-year, driven by strong client performance and strategic international partnerships. The digital bank initiative is progressing, with deposit targets set and multiple structural options under review.
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Net inflows reached EUR 10 billion in H1 2024, with adjusted net profit up 43% year-over-year to EUR 330 million, driven by strong international growth and the Kennedy Lewis stake sale. Management is confident in surpassing the EUR 500 million net profit target for 2024.