Anima Holding (ANIM) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 11% YoY to €408.0m; adjusted net profit increased 13% to €237.3m, while reported net profit rose 4% to €208.2m.

• Q3 managed-asset net inflows were €1.0bn despite the termination of the Etica SGR mandate, which reduced assets by €5.7bn.

• Record Q3 recurring-fee income and a more favorable asset mix supported results amid an unfavorable bond-market backdrop.

Financial highlights

• 9M adjusted EBITDA was €291.8m, up 16%; EBIT rose 6% to €254.6m and profit before tax rose 6% to €298.5m.

• Net recurring commissions increased 4% to €280.3m; performance fees rose 48% to €69.7m.

• Q3 revenue was €121.3m (+1% YoY), adjusted EBITDA €84.7m (+2%) and net profit €49.4m (+8%).

• Ordinary operating expenses were €116.2m, broadly unchanged; G&A expenses fell 10% YoY.

• Adjusted net profit excludes extraordinary and/or non-cash items; 9M net adjustments totaled €29.2m.

Segment performance

• AUM and administration assets totaled €206.0bn at September 2026, down 2% from €209.4bn a year earlier.

• Managed and administered assets, excluding Class I insurance mandates, had €4.1bn net outflows; flows were positive €1.6bn excluding the terminated Etica SGR mandate.

• Retail net inflows were €774m over 9M, including €660m in Q3; Kairos Wealth Advisory attracted €1.2bn in inflows in its first months after launching in August.

• Alternative businesses included €0.5bn in direct lending/private debt, €6.2bn in real estate and €1.2bn in private-equity fund-of-funds.