Home Business Azimut, record profit in 2021 of 600 million, assets of 83.2 billion

Azimut, record profit in 2021 of 600 million, assets of 83.2 billion

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Shortly before the start of the usual convention at the beginning of the year, Azimut announced the preliminary results for the 2021 financial year which ended with the best consolidated net profit in the history of the Group, between 600 and 605 million euros, higher than the indications provided to the market (equal to 350 – 500 million euros). A value that does not consider the realignment of goodwill in Italy, previously accounted for for approx. 30 million euros, following the right of revocation exercised pursuant to the 2022 Budget Law.

In 2021 Azimut recorded net inflows of € 18.7 billion, thus reaching a total assets equal to 83.2 billion euros, up by 38% compared to the end of 2020.

In 2021 the Group’s customers benefited from a net average performance weighted by + 6.5% (+ 1.6% compared to the Fideuram index).

In 2021, the net return to Azimut customers is 6.5% towards a performance of the competitors of 4.9% with a difference in one year to the advantage of our customers of 1.6%. In the last 25 years the same comparison leads to a difference in favor of Azimut customers of 0.8% for each year. All the considerations and speeches made in the past about the costs of our products are definitively swept away by the above numbers: Azimut provides its customers with net returns of approximately 1% per year above the average of those of the competition. From our listing (July 2004) to date, the Azimut stock has returned 1,193% (making it the third stock on the Italian Stock Exchange and by far the first among financial, banking and insurance companies) making the shareholder over 68% per year for over 17 years” he has declared Pietro Giuliani, president of Azimut.

International business, private market and fintech

As for Azimut’s international business, at the end of 2021, the assets of the foreign business reached 40% of the total, and the contribution toManagement EBITDA ofabroad it is estimated at approx 70 million euros.

In the year just ended it also stands out the Private Markets segment, which more than doubled compared to the previous year and in December 2021 reached 4.6 billion euros of Aum (compared to 2 billion euros at the end of 2020) thanks to the development of new products both in Italy and in the USA.

During 2021, the Group also gave a further one boost to Fintech activities dedicated to young savers and businesses, in crowdfunding and lending to SMEs. With the development of these initiatives Azimut wants to become a access point privileged for the Italian companies they seek access to credit and advisory services with high added value thanks also to the raising of private capital that need an adequate return in a world with zero-negative rates.
Furthermore, thanks to these activities, Azimut is able to assist companies in need of structuring equity transactions, as well as following them in the internationalization process, also thanks to its presence in 17 countries.

“The push to internationalization, both in terms of distribution and management, thanks to the Global Team, they are now a pillar of future growth. The democratization ofreal economy in Italy and abroad, with 8.4%of the managed masses, constitutes a further element of diversification, product innovation and value creation for customers and shareholders. Investments in the fintech they will lead us towards new businesses and further evolution of the Group. Today we have to look at Azimut as one holding company, diversified for activities and geographies, which as such, has an unexpressed value within it that the market has not yet appreciated. According to our estimates based on local market multiples as well as M&A transactions in the respective countries, the sum of the parts of the activities abroad, private markets, fintech and traditional business are worth about 8-10 billion of euros ”he added Gabriele Blei, co-CEO of the Group.

Azimut’s top management then highlighted that it has filed an application for a change to commissions applied to Luxembourg funds with the local supervisory authority that will align the method of calculating the variable fees (“performance fees“) To the new ESMA guidelines. This new calculation system will imply a Ter for customers in line with the historical average, with a higher recurring component and the introduction of a system which, in the event of underperformance compared to the benchmark, will provide for the return of a part of the recurring commissions. .
Azimut has undertaken to provide new information and more details on the new commission structure once the authorization process with the competent supervisory authorities has been concluded.

Finally, the activity of the Azimut Group in Italy in 2021 it registered 141 new entries, bringing the Group’s total at the end of 2021 to 1,840 financial advisors.

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