Azimut Holding SpA (OTCPK:AZIHF)
$ 23.6 -0.32 (-1.34%) Market Cap: 3.52 Bil Enterprise Value: 3.40 Bil PE Ratio: 6.39 PB Ratio: 1.95 GF Score: 88/100
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Q1 2019 Azimut Holding SpA Earnings Call Transcript

May 09, 2019 / 01:00PM GMT
Release Date Price: $19.05 (-5.41%)
Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Azimut Holding's First Quarter 2019 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Gabriele Blei, CEO of Azimut Holding. Please go ahead, sir.

Gabriele Blei
Azimut Holding S.p.A. - CEO & Director

Thank you very much, and welcome to everyone for this first quarter results presentation. We will quickly go through the presentation slides and then leave as much time as possible for Q&A.

So let's turn to Slide #4, where we give you a quick snapshot of our results. As you can see, we have seen very strong revenues in the first quarter, actually, the record quarter since Azimut is listed, with EUR 247 million of total revenues. Thanks to both combination of strong recurring fees as well as a good level of performance fees that were generated during the quarter. Net profit up 244% year-on-year, with EUR 91 million recorded in the first quarter. We're speaking about almost 90 basis point on

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