(Alliance News) - Anima Holding Spa announced Monday that its board of directors approved the consolidated interim report as of March 31 and a new EUR40 million buyback program.

Thus, in the first quarter, the group reported a profit of EUR52.9 million, up 75 percent from EUR30.2 million in the first quarter of 2023. The consolidated results, the company says, include the contribution of Castello SGR, acquired in July 2023.

Net management fees were EUR80.0 million, up 15 percent from EUR69.6 million.

Total revenues were EUR121.9 million, up 51 percent from the first quarter of 2023.

Ordinary operating expenses were EUR28.9 million, up 29% from the first quarter of 2023.

The Consolidated Net Financial Position as of March 31, 2024 shows net cash of EUR3.1 million compared to EUR13.2 million of net debt at the end of fiscal year 2023 and incorporates payables for dividends declared and yet to be distributed of EUR79.5 million.

The board also resolved to initiate a share buyback program, to be carried out in the days following the scheduled ex-dividend date of May 2024, for a total amount of approximately EUR40 million.

Anima also reported that the group's net inflows of assets under management in April, excluding class I insurance proxies, were positive at EUR266 million.

At the end of April 2024, the group's total assets under management stood at EUR191.1 billion.

Anima Holding's stock is up 2.6 percent to EUR4.49 per share.

By Chiara Bruschi, Alliance News reporter

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