Italy’s Azimut posted revenues of € 472.1m in 2013

Italian independent asset manager Azimut Holding has released the results of its annual report showing that consolidated net profit was slightly lower in 2013 than in 2012.

The company reported consolidated revenues in 2013 of € 472.1m, against €433.6m in 2012.

However, consolidated net profit was of €155.7m, down compared to the €160.7m result of 2012.

Azimut also said it approved the distribution of a total dividend for ordinary shares of €0.70 gross of tax.

The annual report also announced the appointment of Paolo Martini new director and increase in the number of seats on the board of directors from 9 to 10.

Azimut also approved the authorisation to buy back treasury shares up to a maximum of 28,000,000 Azimut Holding ordinary shares, equal to 19.55% of the issued share capital, for a minimum not lower than the implied book value per Azimut Holding share and a maximum of not more than €50.

Lastly the directors Aldo Mondonico and Monica Nani replaced Cesare Lafranconi and Paola Spando in the board of directors, Azimut also announced.

Pietro Giuliani (pictured), Azimut’s chairman and CEO, said: “Thanks to a model based on independence and characterized by a strong integration between production and distribution, each generating its own value towards the clients, we confirm ourselves, year after year, as the success story in the Italian financial universe, able to deliver the commitments taken with regards to clients, shareholders and partners.”


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