Mídia

Azimut Holding S.p.A. Annual Shareholders Meeting

29/04/2021

AZIMUT HOLDING S.p.A. ANNUAL SHAREHOLDERS MEETING

Milan, 29 April 2021

The Azimut Holding S.p.A. ordinary shareholders meeting was held today to approve the following points:


1. Annual report for the year ended December 31st 2020 The AGM approved without modifications the 2020 FY accounts approved by the BoD on March 11th 2021, highlighting the following:

➢ Consolidated Revenues in 2020 of € 1,054 million, highest figure in Group’s history (vs. € 1,050 million in 2019)

➢ Consolidated Operating Profit in 2020 of € 457 million (vs. € 445 million in 2019)

➢ Consolidated Net Profit in 2020 of € 382 million, highest figure in the Group’s history (vs. € 370 million in 2019)

Net profit of the parent company Azimut Holding SpA in 2020 was € 288.5 million vs. € 209.1 million reported in 2019.


2. Allocation of 2020 FY Net Profit

The AGM unanimously approved the allocation of Net Income for the year ended December 31, 2020, including the distribution of a total ordinary dividend of € 1.00 per share gross of tax (equal to a dividend yield of 5% at current prices), to be paid entirely in cash on May 26, 2021, with an ex-dividend date of May 24, 2021 and a record date of May 25, 2021. The Shareholders' Meeting also approved to allocate, in accordance with the provisions of the Articles of Association, an amount of € 4.4 million, corresponding to 1% of the consolidated Gross Profit, to the Azimut ONLUS Foundation.


3. Buy-back plan authorization

The AGM approved* the authorization to buy-back treasury shares up to a maximum of n. 14,000,000 Azimut Holding ordinary shares, equal to 9.77% of the issued share capital, taking into account the shares already in the portfolio at the time of purchase. The purchase price will be to be acquired at a price not lower than the implied book value per Azimut Holding S.p.A. share and a maximum of 35 euro. The Shareholders' Meeting also approved the whitewash mechanism which exempts the relative majority shareholder from the obligation of a full takeover bid in the event that exceeding the relevant thresholds (over 25%) results in the purchase of treasury shares.


4. Remuneration report

The AGM approved both the first and second section of the Remuneration policy and report, relating to the remuneration of Governing Board members, General Managers and strategic Executives, and the related implementation procedures.

Lastly, the Group informs that following the resolution of the AGM on 24 April 2019, the Directors Cinzia Stinga and Lucia Zigante have been replaced by new Directors Chiara Savino and Anna Fenocchio, always representing the Group's financial advisors (see press release of 24/4/2019).


Pietro Giuliani, Chairman of the Group, comments:

“Our ability to grow has improved even in a complex year such as 2020, enabling us to present to Shareholders the best net profit in the Group’s history -382 million euros- and to pay, yet again, a dividend of 1 euro per share. Shareholders support was reaffirmed today with a favorable outcome on all points on the Agenda, and this together with a strong first quarter in terms of Net Inflows (9.4 billion euros) and net weighted average performance to clients (+4% YtD), allows us to face the months ahead with confidence and determination.”


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Azimutis Italy’s leading independent asset manager (active since 1989). The parent company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB. The shareholder structure includes over 2,000 managers, employees and financial advisors bound by a shareholders’ agreement that controls ca. 21.8% of the company. The remaining is free float. The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices mainly in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt, Singapore, Mexico, Australia, Chile, USA, UAE and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian alternative investment funds, as well as being active in the discretionary management of individual investment portfolios. Furthermore, Azimut Capital Management SGR, following the demerger by incorporation of Azimut Consulenza SIM, distributes Group and third party products in Italy via a network of financial advisors while Azimut Libera Impresa focuses on the Alternatives business. Overseas main operations are Azimut Investments (formerly AZ Fund Management, founded in Luxembourg in 1999), which manages the multi strategy funds AZ Fund 1 and AZ Multi Asset and the Irish Azimut Life DAC, which offers life insurance products.


Contacts - Azimut Holding S.p.A.

www.azimut-group.com


Investor Relations

Vittorio Pracca - Tel. +39 02 8898 5853

Email: vittorio.pracca@azimut.it


Galeazzo Cornetto Bourlot - Tel. +39 02 8898 5066

Email: galeazzo.cornetto@azimut.it


Media Relations

Maria Laura Sisti (Esclapon & Co.) - Tel. +39 347 42 82 170

Email: marialaura.sisti@esclapon.it


Viviana Merotto -Tel. +39 02 8898 5026 Email: viviana.merotto@azimut.it

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