Azimut Holding: record revenues for 2024
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Azimut Holding closed 2024 with €1.47 billion in revenue, a +12% increase compared to 2023, recording an operating profit of €653 million and an adjusted net profit of €588 million, a +29% increase compared to the previous year.
This major growth was influenced by expansion in various international markets, especially Turkey and Australia, but the Italian market also contributed to the revenue increase,as a result of a higher demand for advisory solutions.
The insurance division also grew, registering a 45% increase in commissions and total revenues amounting to €161 million. Positive results also came from Corporate & Investment Banking and Fintech operations, mostly supporting small and medium-sized companies in Italy, amounting to €19 million. Meanwhile, total operating costs stood at €816 million, exceeding the €725 million from 2023, with distribution costs amounting to €432 million, €43 million higher than the previous year.
Growth prospects for 2025 outline a total net inflow of €10 billion, while net profit is expected to range between €400 million and €1.25 billion for the year, depending on whether TNB – the new Wealth Fintech Bank, Azimut's Italian network spin off – can obtain banking authorization and finalize the FSI agreement in 2025.
This major growth was influenced by expansion in various international markets, especially Turkey and Australia, but the Italian market also contributed to the revenue increase,as a result of a higher demand for advisory solutions.
The insurance division also grew, registering a 45% increase in commissions and total revenues amounting to €161 million. Positive results also came from Corporate & Investment Banking and Fintech operations, mostly supporting small and medium-sized companies in Italy, amounting to €19 million. Meanwhile, total operating costs stood at €816 million, exceeding the €725 million from 2023, with distribution costs amounting to €432 million, €43 million higher than the previous year.
Growth prospects for 2025 outline a total net inflow of €10 billion, while net profit is expected to range between €400 million and €1.25 billion for the year, depending on whether TNB – the new Wealth Fintech Bank, Azimut's Italian network spin off – can obtain banking authorization and finalize the FSI agreement in 2025.