Anima run with poste-CDP for Pioneer and presents the half-year accounts with profits down but higher than expected. The title runs on the stock exchange where it grows by over 18%.
Poste Italiane, Cassa Depositi e Prestiti and Anima Holding have signed an agreement which foresees the birth of a colossus in the management of savings.
The three groups, through a specially created vehicle in which Poste Italiane holds the majority of the capital, also presented the binding offer that had been talked about so much in recent days for the purchase of Pioneer.
Going into detail, the agreement provides for the transfer of the group led by Poste to Anima della Sgr in order to create a leading pole in Italian asset management.
We recall that the transalpine giant should also be in the running for Pioneer Amundi, the American Ameriprise Financial and the Austrian Macquarie. Instead, it seems out of the game Aberdeen Asset Management.
unicredit, for its part, it published a note in which it underlines, in relation to the rumors circulating about Pioneer, that "there is no certainty that these negotiations can lead to any transaction nor certainty regarding the conditions under which such an operation can proceed".
Faced with a novelty of this magnitude, it takes a back seat the publication of the accounts of Anima, approved today, Friday, by the board. In the nine months of 2016, net profit fell by 34% compared to the same period of the previous year, settling at 63,3 million euros. However, the result exceeded the expectations of analysts who predicted a net profit of 62,6 million euros.
In the same reference period, net inflows were positive by around €4,5 billion, bringing total assets under management to €71,5 billion at the end of September 2016 (compared to €64,3 billion at the end of September 2015).
Net management fees rose to 159,9 million euros (+2%), while revenues fell to 181,1 million euros (-17%) under the consensus of analysts who expected total revenues at 182,7, XNUMX million.
The decrease in ordinary operating costs equal to 48,3 million euros (-9% y/y due to lower provisions in the variable component of personnel costs), was not sufficient to offset the decrease in revenues bringing the pre-tax profit to 105,8 million euros (-23% y/y).
The net financial position as at 30 September 2016 was positive for 190,2 million euros (185,2 million euros at the end of 2015).
Despite the sharp decline in profit and revenue, on Piazza Affari, the Anima stock staged a real rally. At 15.30 the shares rose by 14,13% to 4,716.
