Announcement • Mar 10
Azimut Holding S.p.A. announces Annual dividend, payable on May 20, 2026 Azimut Holding S.p.A. announced Annual dividend of EUR 2.0000 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. Announcement • Feb 24
Azimut Holding S.p.A. announced that it expects to receive funding from Mediocredito Centrale S.p.A., Cassa Depositi e Prestiti S.p.A. Azimut Holding S.p.A. announced that it has received € 70 million in its first tranche led by the new lenders, Cassa Depositi e Prestiti S.p.A. and Mediocredito Centrale S.p.A. on February 23, 3026. The company has issued debt in the transaction. Announcement • Jan 20
Azimut Holding S.p.A. (BIT:AZM) agreed to acquire an unknown majority stake in Unifinance Agente Autonomo De Investimentos Ltda. Azimut Holding S.p.A. (BIT:AZM) agreed to acquire an unknown majority stake in Unifinance Agente Autonomo De Investimentos Ltda on January 19, 2026. The acquisition will be structured through the exchange of shares in Azimut Holding S.p.A., without any initial cash payment. It includes an earn-out mechanism linked to the achievement of predefined growth objectives.
Completion of the transaction is subject to customary conditions and applicable regulatory approvals. Announcement • Nov 14
Azimut Holding S.p.A. (BIT:AZM) commences an Equity Buyback plan for 14,000,000 shares, representing 9.77% of its issued share capital, under the authorization approved on April 30, 2025. Azimut Holding S.p.A. (BIT:AZM) commences a share repurchases on November 13, 2025, under the program mandated by the shareholders in the Annual\Extra\Ordinary General Meeting held on April 30, 2025 As per the mandate, the company is authorized to repurchase up to 14,000,000 shares, representing 9.77% of its issued share capital. The shares will be repurchase in multiple tranches. The purchase price will be at a minimum unit price not lower than the implied book value of the ordinary share of the company and a maximum unit value not exceeding €40. Announcement • May 23
Azimut Holding S.p.A. Updates Earnings Guidance for the Year 2025 Azimut Holding S.p.A. updated earnings guidance for the year 2025. Based on the solid operational performance recorded to date and the Group's continued focus on executing its strategy, Azimut reaffirms its 2025 net inflows target, estimated at €10 billion under normal market conditions. The updated estimate of net profit now stands at approximately €1 billion, dependent on TNB receiving authorization to operate in 2025. Announcement • May 02
Azimut Holding S.p.A. announces Annual dividend, payable on May 21, 2025 Azimut Holding S.p.A. announced Annual dividend of EUR 1.7500 per share payable on May 21, 2025, ex-date on May 20, 2025 and record date on May 21, 2025. Announcement • Mar 26
Azimut Holding S.p.A. acquired 29% stake in Red Med ASset Management. Azimut Holding S.p.A. acquired 29% stake in Red Med ASset Management on March 25, 2025.
Azimut Holding S.p.A. completed the acquisition of a 29% stake in Red Med ASset Management on March 25, 2025. Announcement • Dec 05
Azimut Holding S.p.A. to Report First Half, 2025 Results on Jul 31, 2025 Azimut Holding S.p.A. announced that they will report first half, 2025 results on Jul 31, 2025 Reported Earnings • Nov 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €374.1m (up 9.6% from 3Q 2023). Net income: €115.2m (down 2.2% from 3Q 2023). Profit margin: 31% (down from 35% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. New Risk • Aug 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 13
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.7%). Reported Earnings • May 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: €356.1m (flat on 1Q 2023). Net income: €116.2m (up 15% from 1Q 2023). Profit margin: 33% (up from 28% in 1Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Capital Markets industry in Germany. Declared Dividend • Mar 13
Dividend increased to €1.40 Dividend of €1.40 is 7.7% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 5.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €3.14 (vs €2.89 in FY 2022) Full year 2023 results: EPS: €3.14 (up from €2.89 in FY 2022). Revenue: €1.31b (down 12% from FY 2022). Net income: €434.6m (up 8.0% from FY 2022). Profit margin: 33% (up from 27% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Feb 29
Azimut Exploration Inc. Approves Board Changes Azimut Exploration Inc. announced the voting results for its Annual General Meeting (the 'Meeting') of shareholders held February 23, 2024. At the Meeting, Mrs. Vanessa Laplante was elected as a director to join the Board and the Company anticipates the valuable contribution she will bring. The Board of Directors also wishes to acknowledge the remarkable participation and commitment to the Company by Mrs. Angelina Mehta, who did not stand for reappointment. Vanessa Laplante brings over 32 years of experience in management, finance, and taxation, including 18 years in the mining industry. She is a leader in her specialized field, mining taxation. From 2021 to 2023, she served as the President of the Board of Directors for the Quebec Mining Association, becoming the second woman in the history of QMA to hold this position. During her tenure, she chaired the taxation committee for over 10 years. Mrs. Laplante has developed her expertise within major Canadian gold producers. She held the position of Director of Tax and the Montreal office as well as Treasurer for the Canadian Malartic Partnership, a company formerly owned by Agnico Eagle Mines Ltd. and Yamana Gold Inc. and operating the Canadian Malartic and Odyssey mines from 2014 to 2023. She has also held similar roles and made significant contributions at Osisko Mining Corporation from 2010 to 2014, Iamgold Corporation, and Cambior Inc. from 2006 to 2010. She is an independent director and Chair of the Audit Committee at Critical Elements Lithium Corporation since 2022. She was a member of the advisory committee on the simplification of the mining royalty regime formed by the Quebec Ministry of Natural Resources from 2015 to 2019. Ms. Laplante holds the ASC, C.Dir. designation - Certified Corporate Director of the University Laval Certification Program in Corporate Governance. She also holds a bachelor's degree in business administration from the University of Sherbrooke and is a member of the Ordre des comptables professionnels agrees du Quebec (CPA designation). Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: €0.88 (vs €0.76 in 2Q 2022) Second quarter 2023 results: EPS: €0.88 (up from €0.76 in 2Q 2022). Revenue: €229.7m (down 41% from 2Q 2022). Net income: €122.1m (up 15% from 2Q 2022). Profit margin: 53% (up from 27% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • May 15
Upcoming dividend of €1.30 per share at 6.5% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.0%). Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: €2.89 (vs €4.35 in FY 2021) Full year 2022 results: EPS: €2.89 (down from €4.35 in FY 2021). Revenue: €1.29b (down 25% from FY 2021). Net income: €402.4m (down 34% from FY 2021). Profit margin: 31% (down from 35% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.72 (vs €0.69 in 3Q 2021) Third quarter 2022 results: EPS: €0.72 (up from €0.69 in 3Q 2021). Revenue: €341.2m (down 7.1% from 3Q 2021). Net income: €100.6m (up 4.4% from 3Q 2021). Profit margin: 30% (up from 26% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: €0.76 (vs €0.93 in 2Q 2021) Second quarter 2022 results: EPS: €0.76 (down from €0.93 in 2Q 2021). Revenue: €339.0m (down 3.0% from 2Q 2021). Net income: €106.2m (down 18% from 2Q 2021). Profit margin: 31% (down from 37% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is expected to shrink by 27% compared to a 8.4% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • May 16
Upcoming dividend of €1.30 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (2.9%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Nicola Colavito was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €4.34 (up from €2.75 in FY 2020). Revenue: €1.45b (up 19% from FY 2020). Net income: €605.5m (up 59% from FY 2020). Profit margin: 42% (up from 31% in FY 2020). Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is expected to shrink by 12% compared to a 5.5% decline forecast for the funds industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: €299.9m (flat on 3Q 2020). Net income: €96.4m (up 11% from 3Q 2020). Profit margin: 32% (up from 29% in 3Q 2020). Reported Earnings • Aug 01
Second quarter 2021 earnings released The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: €292.9m (flat on 2Q 2020). Net income: €129.2m (up 37% from 2Q 2020). Profit margin: 44% (up from 32% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 17
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 4.8%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.2%). Reported Earnings • May 15
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €273.5m (up 17% from 1Q 2020). Net income: €96.8m (up 100% from 1Q 2020). Profit margin: 35% (up from 21% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS €2.76 (vs €2.65 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €1.05b (down 15% from FY 2019). Net income: €381.7m (up 2.7% from FY 2019). Profit margin: 36% (up from 30% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations Revenue exceeded analyst estimates by 2.5%. Over the next year, revenue is expected to shrink by 2.1% compared to a 6.2% growth forecast for the Capital Markets industry in Germany. Is New 90 Day High Low • Mar 12
New 90-day high: €20.15 The company is up 16% from its price of €17.33 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.31 per share. Is New 90 Day High Low • Feb 05
New 90-day high: €19.00 The company is up 21% from its price of €15.69 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.32 per share. Is New 90 Day High Low • Jan 13
New 90-day high: €18.21 The company is up 13% from its price of €16.13 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.35 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €16.89 The company is up 1.0% from its price of €16.64 on 18 August 2020. The German market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.51 per share. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS €0.63 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €252.5m (down 10% from 3Q 2019). Net income: €87.1m (up 15% from 3Q 2019). Profit margin: 35% (up from 27% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 29
New 90-day low: €14.68 The company is down 11% from its price of €16.46 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.12 per share. Is New 90 Day High Low • Oct 02
New 90-day low: €14.93 The company is down 3.0% from its price of €15.34 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.17 per share. 
