(Alliance News) - Azimut Holding Spa reported Thursday that it closed the first quarter with adjusted net income of EUR122 million from EUR127 million in the first quarter of 2023.

Total revenues amounted to EUR351 million from EUR326 million in the same period.

Operating income is EUR263.9 million from EUR272.5 million in Q1 2023.

Operating income is EUR161 million from EUR150 million in the first quarter of 2023.

Total operating expenses increased by 8 percent to EUR161 million from EUR150 million in the first quarter of the previous year.

Consolidated net financial position at the end of March was positive at about EUR532 million, up EUR140 million from the end of December 2023, despite EUR23 million in acquisitions and investments and EUR13 million in tax payments.

Based on the solid growth since the beginning of the year, the operating results achieved, and in light of recent corporate developments, "the group is confident in its ability not only to achieve but also to exceed the targets set for the full year 2024 of more than EUR7 billion in net inflows and EUR500 million in net income."

Azimut's stock gives up 1.7 percent to EUR25.32 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.