Azimut Holding (AZM) Investor Presentation summary

Business overview and strategy

• Operates as an independent global asset manager with €113bn in assets, serving 1.4m+ investors across 20 countries, with a strong presence in both public and private markets.

• Growth driven by a multi-generational, technology-enabled platform, focusing on innovation, client performance, and global reach.

• Five key pillars: long-term strategy, innovation, independence (22% employee-owned), talent stability, and sustainability (signatory of UN PRI, €20.9bn in ESG products).

• Shareholder structure ensures alignment, with ~22% of shares held by employees and advisors under a long-term agreement.

• History of expansion, strategic partnerships, and product innovation, including recent moves into Morocco and Saudi Arabia.

Financial performance and growth

• Total assets have doubled every five years since IPO, reaching €112.8bn as of June 2025.

• 1H 2025 net inflows reached €9bn, with organic net inflows of €6.3bn, the highest on record.

• Recurring net profit for 1H 2025 was €234m, up 18% YoY, with recurring EBIT up 9% to €281m.

• Revenues for 1H 2025 were €646m, with recurring fees up €36m YoY, driven by international expansion.

• Maintains a debt-free balance sheet, with €643m net financial position as of June 2025 after significant investments and dividends.

Business lines and international expansion

• 46% of total assets are from international operations, with strong growth in the Americas, APAC, and EMEA.

• Private markets AuM at €7bn, diversified across private equity, debt, venture capital, and real assets, with 70+ funds launched in 7 years.

• Expanded into Morocco (RedMed Capital) and Saudi Arabia, targeting high-growth markets and sizable institutional assets.

• Increased stake in HighPost Capital to 56%, with AuM growing six-fold since entry.

• Monetized GP stakes with successful exits, achieving a combined DPI of 2.9x and IRR of 60%.