On February 5, Anima Holding, an Italian asset manager, announced a 50% increase in its 2024 adjusted consolidated net profit to 276.5 million euros ($288 million) driven by new business acquisitions.
The company, targeted for a 1.6 billion euros offer from shareholder Banco BPM, proposed a dividend of 0.45 euro per share, up from 0.25 euro per share in the previous year.
Following the financial report, Anima's stock surged by 4.1% to 7 euros per share, reaching its highest level since January 2016. The shares have consistently traded above the proposed offer price of 6.20 euros per share since Banco BPM's announcement on November 6.
During a post-results conference call, CEO Alessandro Melzi d'Eril stated that Anima anticipates Italian market watchdog CONSOB to make a decision regarding Banco BPM's offer by February 26, with the possibility of a one-month extension.
Anima's financial performance in 2024 was boosted by the acquisitions of real estate management company Vita in August 2024, and Kairos and Castello SGR businesses in May 2024 and 2023, respectively.
Melzi d'Eril highlighted that Positive inflows, growing profitability, business diversification, strong capital generation, and attention to shareholder remuneration were the key elements for Anima in 2024.
Total revenue climbed 44% year-on-year to 530 million euros, primarily attributed to higher commissions. Excluding the impact of acquisitions, revenue increased by 33% compared to 2023.
The total managed assets reached 204.2 billion euros by the end of December 2024, driven by the addition of Kairos Partners and robust performance of managed assets.
($1 = 0.9605 euros)