Italy's Azimut 2024 adjusted net profit jumps 29% on international growth
March 6 (Reuters) - Italian asset manager Azimut AZMT.MI posted on Thursday a 29% increase in adjusted net profit in 2024 to 588 million euros ($635 million), citing continued expansion of its global platform.
Azimut confirmed it expects 2025 net profit to reach up to 1.25 billion euros, subject to its new fintech bank TNB gaining authorisation, and the finalisation of an 80% stake sale of TNB to the domestic private equity fund FSI.
The asset manager proposed a 1.75 euro per share cash dividend for 2024, and is expected to present its new five-year business plan later this year.
"We remain focused on delivering our 2025 targets, further advancing our global expansion, with a presence in 18 countries and already 50% of total assets managed outside Italy", CEO and CFO Alessandro Zambotti said in a statement.
($1 = 0.9263 euros)
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