Azimut Holding Spa Ord (AZIHF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the Chorus Call Conference Operator. Welcome and thank you for joining the Azimut Holdings first half 2025 results presentation. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions by pressing star and 1 at any time. Should anyone need assistance during the conference call, they may signal an operator by pressing star and 0. At this time, I would like to turn the conference over to Mr. Giorgio Meda, Chief Executive Officer. Please go ahead, sir. Thank you very much, and good afternoon, everyone, and thank you for taking the time and joining us today for AdMob H1 2025 results presentation. I'm Giorgio Meda, CEO of the group, and I'm pleased to be here with Alessandro Zambotti, our CEO, a group CFO, and Alex Popera, our Head of Investor Relations. General comment before we dive into the slides, this has been a defining semester for Azimut. We have exceeded expectations across the board and have to say navigated very volatile market conditions, and this has been possible only courtesy of our resilience and discipline. At the same time, we have laid the groundwork for the group's next phase of growth, and I think what we have seen in the last six months both very well for what lies ahead for us. So let's move to slide three, please. So let me begin with the key highlights of the first six months of 2025, which marked a very strong start to the year from a strategic, financial, and operational perspective. We delivered a record 8.2 billion euros in managed net inflows, the highest first-half figure we have ever achieved. Alongside this, our recurring income has grown by 18% year-on-year, and that is a testament to the resilience and scalability of our platform, even in very ...