Azimut Holding closes the first three months of 2021 with 96.8 million euro of consolidated net profit. This has been confirmed by the group.
As a result, Azimut continues the excellent performance already seen in 2020 also in this first part of the year.
Specifically, Azimut Holding closed the first quarter of 2021 with a consolidated net profit of 96.8 million euro. This is an extraordinary figure, doubled compared to last year’s 48.5 million.
Consolidated revenues amounted to 273.5 million, also up from 228 million in 2020, while consolidated operating income rose to 114 million from 75.9 million in 2020.
Azimut Holding’s total assets also grew, reaching 72.3 billion in March 2021, up from 72.9 billion in April.
Lastly, the consolidated net financial position grows vertically, amounting to 147.8 million euro at the end of March 2021.
Azimut Holding’s ambitions
This quarter is the best in Azimut’s history. This is what Group Chairman Pietro Giuliani wanted to underline, according to whom there are now the foundations to:
“continue on our path of growth and hit the target of 350 million in profit that we have set ourselves for the end of the year”.
CEO Gabriele Blei added:
“In the first four months of the year, we had a significant acceleration in assets under management, which reached 1.8 billion euros compared to 320 million in the same period of 2020. The Group also reached 2.4 billion AUM in real economy products, which will see further developments thanks also to the launch of new initiatives such as HighPost Capital in the US, the new Private Equity fund with Peninsula and the Synthetic Bank project”.
What Azimut does
Azimut Holding consists of three management companies and an insurance company. It operates not only in Italy but also in other countries around the world such as Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Singapore, Brazil, Mexico, Taiwan, Chile, USA, Australia, Egypt, Turkey and United Arab Emirates.
These are the three companies:
- Azimut Investments Sa, manages the multi-compartment fund under Luxembourg law;
- Azimut Capital Management Sgr, manages Italian funds, funds of Italian funds and the Azimut pension and hedge funds under Italian law;
- Libera Impresa Sgr, specialises in the management of alternative funds.
- Azimut Life Dac, a specialist insurance company under Irish law.
The post Azimut Holding doubles profits in first quarter 2021 appeared first on The Cryptonomist.