Table of Contents:
Azimut Holding’s financial results
The Azimut Holding Board of Directors recently approved the interim management report, showing an adjusted net profit of 447 million euros, an increase of 28% compared to the 349 million recorded in the first nine months of 2023. Total revenues increased by 9%, reaching 1,054 million euros, while operating income increased by 6%, to 458 million euros. These results demonstrate the company’s strength in the asset management sector and its ability to adapt to market challenges
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Objectives for 2024
Looking to the future, Azimut Holding has set ambitious goals for 2024. The company expects to exceed the net profit target set at 500 million euros, thanks to robust growth and the operating results already achieved. In October, net inflows already reached 14.3 billion euros, exceeding the revised target of 14 billion set in July. This positive trend is the result of an effective strategy and careful management of resources, which has allowed Azimut to position itself favorably in the
market.
Economic context and impacts on the markets
The global economic environment has seen significant recent developments, with the UK Central Bank reducing interest rates by 0.25% to 4.75%, in line with market expectations. Norges Bank also maintained its key policy rate at 4.5%, the highest level in sixteen years, while Sweden’s Riksbank cut half a point, reporting further reductions to stimulate the economy. These changes in interest rates directly influence market dynamics and investment decisions, creating opportunities and challenges for companies like Azimut
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Performance of European stock exchanges
European stock exchanges opened the day with a positive sign, with Piazza Affari up 0.7%. This favorable climate was fueled by purchases of securities such as Banco Bpm, which registered an increase of 7.5% after the publication of financial results and the announcement of a takeover bid on Anima. Investor confidence appears to be growing, supported by positive corporate results and accommodative monetary policies from central banks.
