Posted By Global Banking and Finance Review
Posted on February 5, 2025
(Reuters) -Italian asset manager Anima Holding on Wednesday reported a 50% rise to 276.5 million euros ($288 million) in its 2024 adjusted consolidated net profit as acquisitions of new businesses pushed revenue higher.
The group, which is the target of a 1.6 billion euros buyout offer from shareholder Banco BPM, has proposed a dividend of 0.45 euro per share, up from the 0.25 euro per share it paid the previous year.
By 1250 GMT, the stock was up 3.6% at 7 euros per share, hitting its highest level since January 2016.
The company results were bolstered by the contribution of real estate management company Vita, acquired in August 2024, as well as the businesses of Kairos and Castello SGR, purchased in May 2024 and in 2023, respectively.
"Positive inflows, growing profitability, business diversification, strong capital generation, and attention to shareholder remuneration were the key elements for Anima in 2024," Chief Executive Officer Alessandro Melzi d'Eril said in a statement.
Total revenue rose 44% from a year earlier to 530 million euros mainly due to higher commissions. Excluding the effect from acquisitions, revenue rose 33% compared to 2023.
Total assets under management reached 204.2 billion euros at the end of December 2024 thanks to the addition of Kairos Partners and the positive performance of managed assets.
($1 = 0.9605 euros)
(Reporting by Alberto Chiumento in Gdansk; editing by Milla Nissi, Louise Heavens and Emelia Sithole-Matarise)