Azimut Group

Azimut presents its consolidated results as of September 30, 2025 and updates guidance and dividend policy. As of September 30, 2025 total assets reached €123 billion, net inflows since the beginning of the year amounted to €15 billion, 43 percent from international markets. Total revenues reached €1,013 million, EBIT €471 million, Group net profit €386 million, recurring net profit €367 million. The Group’s core net profit for 2025 is estimated to exceed €500 million (up from the initially forecast €400 million), and the ordinary dividend policy for 2025 will be increased compared to the previous year. "The results and figures of Azimut speak louder than any statement” stated Pietro Giuliani, Chairman of the Group. "Looking at 2026, we estimate a Group net profit exceeding 1 billion euro, also thanks to the expected contribution from the TNB transaction. We continue with conviction in our strategic capital management and in creating value for our shareholders." added Alessandro Zambotti, Group CEO and CFO. The path toward the TNB transaction proceeds with greater visibility following the conclusion of the ordinary inspection by the Bank of Italy on ACM. Authorization of the transaction is expected in the second quarter of 2026. In parallel, the Group continues to develop the Elevate 2030 strategic plan, of which it has already outlined some guidelines for international growth and sustainable value creation. The goal is to double average international assets over the next five years, reaching between €95 and €110 billion by 2030. "The new strategic plan Elevate 2030 will define an even more ambitious growth trajectory, strengthening Azimut’s position among independent players at a global level." commented Giorgio Medda, Group CEO. Azimut thus confirms its commitment to value creation through strategic capital management, which includes the proposal to the Shareholders’ Meeting to renew the share buyback program, including authorization for the cancellation of repurchased shares up to €500 million. Read the official press release: https://lnkd.in/dGBv76Mv #Azimut #AzimutGlobal

“Building our World” was the central theme of Azimut’s tenth Global Convention, held in Italy and attended by over 230 colleagues from the 20 countries where the Group operates. It was a moment of sharing and discussion on the Group’s long-term strategies and vision, which guide its growth path and confirm Azimut’s identity as a global player able to adapt to and enhance the uniqueness of each market. The reflections of Pietro Giuliani, Chairman and Founder of Azimut Holding, Giorgio Medda, Group CEO, and Alessandro Zambotti, Group CEO & CFO, provided strategic direction on the Group’s main growth drivers: international expansion, product innovation, and the strengthening of the advisory model. Through this integrated vision, Azimut continues to create sustainable value for its clients. #Azimut #AzimutGroup #JustBeDifferent

Central bank monetary policies in Europe and the United States continue to shape global economic prospects. While interest rates were repeatedly cut last year, the focus has now shifted to inflation management and labor market stability, as markets assess the potential for a new cycle of monetary easing. Following an initial contraction linked to the balance sheet reductions of the G4 central banks, liquidity has resumed growth in recent quarters, supporting economic activity. At the same time, attention has turned to the deterioration of public finances in France and the United States, where widening spreads and a steepening yield curve are creating new opportunities in the fixed-income space. As highlighted in the latest edition of Azimut Global Perspective, in a context of evolving monetary policies and shifting dynamics in the bond markets, the management team maintains a constructive stance. The strategy focuses on extending duration during sell-offs, particularly along the long end of the U.S. curve, where it sees value above 5%. It anticipates a potential cut in short-term U.S. rates, with limited upside for short-duration bonds. On the credit side, the team favors subordinated debt and emerging markets, which continue to offer attractive value despite tighter spreads. Jacopo Turolla, CFA #Azimut #AzimutGroup

Since the beginning of April, investor complacency has increased, supported by the Federal Reserve’s monetary easing, improved trade relations between the U.S. and China, and advances in the corporate sector and artificial intelligence. However, markets have largely overlooked a growing number of warning signals. Former President Trump has reignited the tariff dispute with China, while the credit market has seen several notable defaults, including Tricolor and First Brand, rekindling concerns about lending standards within the banking system and among private debt funds. As Jamie Dimon aptly noted, “when you find one cockroach, there are usually many more hiding.” The AI sector, meanwhile, exhibits circular funding dynamics reminiscent of the late 1990s tech bubble, while the ongoing U.S. government shutdown, sovereign rating actions in Europe, and equity valuations at record highs further add to the complexity of the current environment. Despite these factors, investor optimism remains elevated, driven by expectations of earnings growth, interest rate cuts, and record inflows into ETFs. Azimut emphasizes that, even in periods of euphoria, maintaining a slightly more cautious approach remains advisable. Explore these themes further on our website: https://bit.ly/3JmjHld #Azimut #AzimutGlobal #GlobalView

Congratulations to Azimut Investment Management Singapore Ltd. and the team on three prestigious recognitions at the WealthBriefingAsia EAM Awards 2025.   These achievements reflect the Azimut Group's unwavering commitment to excellence, innovation, and sustainable growth.   By enhancing our position in global asset and wealth management, we remain dedicated to delivering long-term value for our clients.   #Azimut #AzimutGlobal 

Global politics take center stage. The shutdown of the U.S. federal government on October 1 has delayed the release of the employment report originally scheduled for October 3. Estimates suggest that the furlough of federal employees could reduce real GDP growth by approximately 0.1–0.15% (annualized quarterly rate) for each week of closure, followed by a comparable rebound in the subsequent quarter. However, if the shutdown were to be prolonged, it could have more tangible effects on the availability of federal goods and services. In Japan, the unexpected election of Sanae Takaichi as leader of the Liberal Democratic Party led to a depreciation of the yen and Japanese government bonds, while equities rallied. Takaichi, an outspoken advocate of expansionary fiscal and monetary policies, recently emphasized that “monetary policy should remain the exclusive responsibility of the Bank of Japan." She has also pledged to pursue responsible and proactive fiscal management, with a focus on long-term debt reduction. In France, political turbulence has intensified following the sudden resignation of Prime Minister Sébastien Lecornu, less than 24 hours after his cabinet was formed. President Emmanuel Macron now faces a critical decision: appoint a new prime minister or call early elections—both paths presenting significant challenges for securing parliamentary majorities. Azimut is closely monitoring these developments, providing in-depth analysis to support informed investment decisions in a rapidly evolving global political and economic landscape. Explore these themes further on our website: https://bit.ly/48Ho591 #Azimut #AzimutGlobal #GlobalView

Azimut continues to grow, recording total net inflows of €1.9 billion in September (€15.3 billion year-to-date), demonstrating the strength of its diversified business model. The Total Assets reached €123.1 billion, with a 14.5% increase since the beginning of the year, driven by global momentum and strong demand for managed solutions. The Group confidently reaffirms its 2025 targets and its commitment to presenting the new strategic plan “Elevate 2030,” updating the growth roadmap and capital allocation strategy. Read the official press release: https://lnkd.in/dGBv76Mv #Azimut #AzimutGroup

The Italian private equity market showed vitality and consolidation in 2024, with higher invested capital, fundraising capacity, and a significant return of international players. Focus remains on the mid-market and external growth operations, supporting supply chains and international expansion of portfolio companies. The most attractive sectors include high value-added manufacturing, consumer goods, ICT, which stood out as the most dynamic sector in 2024, medical, and biotech. The Sicer exit by Azimut Demos 1, with revenues rising from €69 mln to €123 mln and EBITDA from €12 mln to €27 mln, generated a return of approximately 3x the invested capital, confirming the effectiveness of company selection and support. The new Azimut Eltif – Private Equity Demos 2.0 program aims to invest in 7-9 Italian SMEs, integrating ESG principles and a Strategic Committee to enhance the growth potential of portfolio companies. Azimut Demos 1 is now closed to new subscriptions. Marco Belletti #Azimut #AzimutGroup #MarketingCommunication

"We see that the labor market is softening and we don’t need it to soften anymore, and we don’t want it to". In these words, @Jerome Powell, Chair of the Federal Reserve, explained the resumption of the monetary easing cycle with a 25 basis point rate cut, prompted by the deterioration in the labor market. In Europe, the ECB maintained key interest rates while signaling a more balanced approach. President Lagarde emphasized that inflation remains aligned with the target and that policy is appropriately calibrated. Azimut’s Investment Committee maintains a neutral view on major asset classes, highlighting that any market corrections could present an opportunity to strengthen positions. In this context, diversification remains a cornerstone for navigating the autumn phase of global markets with resilience. Explore these themes further on our website: https://shorturl.at/QdFTP #Azimut #AzimutGlobal #GlobalView

In 2025, Artificial Intelligence stands out as one of the most powerful drivers of global economic and political transformation. On the one hand, companies are benefiting from massive efficiency gains – UPS saves over $200M annually, while JP Morgan exceeds $1.5B. On the other hand, new labor dynamics are emerging, with significant workforce reductions at multinational giants such as Meta and Procter & Gamble. On the regulatory front, Trump’s return has accelerated a deregulatory push, dismantling many of Biden’s safeguards. The goal is clear: attract private capital and move as quickly as possible toward AGI – Artificial General Intelligence – with long-term economic and geopolitical implications. Azimut translates these dynamics into concrete investment strategies: exposure to key AI enablers such as semiconductors and software, but also to sectors set to benefit from AI adoption, including industrial automation, cloud computing, pharmaceutical research and development and advanced mobility. A trend reshaping industries and markets, and one of the cornerstones of our long-term vision. Saverio Papagno #Azimut #AzimutGroup