Q2 2024 Anima Holding SpA Earnings Call Transcript
Key Points
- Anima Holding SpA (STU:124) reported a significant increase in total revenues, reaching almost EUR 240 million, a 47% rise compared to last year.
- The company achieved an adjusted EBITDA of approximately EUR 176 million, marking a 51% increase from the previous year.
- Net profit saw a substantial rise, reaching almost EUR 119 million, an increase of nearly 90% compared to the previous year.
- The company demonstrated excellent cash flow generation, maintaining a strong cash position.
- Anima Holding SpA (STU:124) successfully integrated acquisitions, contributing positively to the overall financial performance.
- Net inflows were slightly negative at EUR 300 million, impacted by EUR 2.1 billion outflows in the 'trapping category'.
- The margin slightly diluted to 73.6% due to acquisitions with higher cost structures compared to historical averages.
- Investment performance was slightly below the industry average, attributed to a conservative client base and different asset mix.
- The company faced a higher cost-income ratio due to the integration of acquisitions with higher cost structures.
- The tax rate was unusually low, influenced by non-recurring items such as badwill income and lower dividends from subsidiaries.
Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Anima Holding First Half 2024 Results Conference Call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Luca Mirabelli, Head of Investor Relations. Please go ahead, sir.
Thank you. A very warm welcome to everyone connected, and thank you, especially for devoting your attention to our results on a mid summer day. And without any further waste of time, I would leave the floor to Alessandro Melzi, our CEO, for his initial remarks and then of course, we will open the line to your questions. Thank you. Alessandro, we can go ahead.
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Thank you. Thank you, Luca, and hi, everybody, and thank you for attending our mid-year conference call. I will bring you through our presentation as always, so we'll start
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