GAM's Turnaround: A Closer Look at 2024 Results
Generado por agente de IATheodore Quinn
miércoles, 26 de marzo de 2025, 2:14 am ET2 min de lectura
GAM--
GAM's 2024 full-year results are in, and the asset management firm has made significant strides in its turnaround strategy. The company reported an IFRS net loss of CHF 70.9 million, a slight improvement from the CHF 82.1 million loss in 2023. While the underlying loss before tax increased to CHF 66.8 million from CHF 49.5 million, the company's cost optimisation initiatives have resulted in a 20% decrease in underlying expenses. This is a clear indication that GAMGAM-- is serious about improving its financial performance.
The full impact of these cost optimisation initiatives is expected to be reflected in FY 2025 and beyond. This is a positive sign for investors, as it suggests that GAM is on track to achieve profitability by fiscal year 2026. The company's strategic focus on cost optimisation, combined with its efforts to grow its Assets under Management (AuM) and revenues, is aimed at driving sustainable growth and profitability.
One of the key highlights of GAM's 2024 results is the successful CHF 100 million rights issue completed in November 2024. This rights issue resulted in NJJ Holding SAS becoming the majority shareholder, providing long-term financial stability for the company. The maturity of the existing CHF 100 million RockROCK-- loan facility has also been extended until 31 December 2027, further strengthening GAM's financial position.
GAM's turnaround strategy is not just about cost optimisation. The company has also made significant progress in its investment and wealth management capabilities. GAM is now a highly scalable pure investment platform with strong global distribution capabilities. The company is focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing, and Wealth Management.
One of the strategic advantages that GAM has gained from its turnaround strategy is the partnership with Sun Hung Kai & Co. Ltd. This partnership aims to drive growth and enhance GAM's distribution capabilities across Greater China, including Hong Kong, mainland China, Taiwan, and Macau. This expanded distribution network allows GAM to reach a broader client base in the region, leveraging Sun Hung Kai's established presence and relationships.
The partnership also enables GAM to develop new products and the distribution of their own existing products to GAM clients. This collaboration can lead to the creation of innovative investment solutions tailored to the Chinese market, further strengthening GAM's competitive position. Additionally, the partnership can help GAM amplify its core active strategies by leveraging Sun Hung Kai's local expertise and market insights.
In conclusion, GAM's 2024 full-year results show that the company is making strong progress in its turnaround strategy. The cost optimisation initiatives, combined with the successful rights issue and strategic partnerships, position GAM for sustainable growth and profitability in the coming years. Investors should keep a close eye on GAM as it continues to execute its turnaround strategy and strengthen its market position.
GAM's 2024 full-year results are in, and the asset management firm has made significant strides in its turnaround strategy. The company reported an IFRS net loss of CHF 70.9 million, a slight improvement from the CHF 82.1 million loss in 2023. While the underlying loss before tax increased to CHF 66.8 million from CHF 49.5 million, the company's cost optimisation initiatives have resulted in a 20% decrease in underlying expenses. This is a clear indication that GAMGAM-- is serious about improving its financial performance.
The full impact of these cost optimisation initiatives is expected to be reflected in FY 2025 and beyond. This is a positive sign for investors, as it suggests that GAM is on track to achieve profitability by fiscal year 2026. The company's strategic focus on cost optimisation, combined with its efforts to grow its Assets under Management (AuM) and revenues, is aimed at driving sustainable growth and profitability.
One of the key highlights of GAM's 2024 results is the successful CHF 100 million rights issue completed in November 2024. This rights issue resulted in NJJ Holding SAS becoming the majority shareholder, providing long-term financial stability for the company. The maturity of the existing CHF 100 million RockROCK-- loan facility has also been extended until 31 December 2027, further strengthening GAM's financial position.
GAM's turnaround strategy is not just about cost optimisation. The company has also made significant progress in its investment and wealth management capabilities. GAM is now a highly scalable pure investment platform with strong global distribution capabilities. The company is focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing, and Wealth Management.
One of the strategic advantages that GAM has gained from its turnaround strategy is the partnership with Sun Hung Kai & Co. Ltd. This partnership aims to drive growth and enhance GAM's distribution capabilities across Greater China, including Hong Kong, mainland China, Taiwan, and Macau. This expanded distribution network allows GAM to reach a broader client base in the region, leveraging Sun Hung Kai's established presence and relationships.
The partnership also enables GAM to develop new products and the distribution of their own existing products to GAM clients. This collaboration can lead to the creation of innovative investment solutions tailored to the Chinese market, further strengthening GAM's competitive position. Additionally, the partnership can help GAM amplify its core active strategies by leveraging Sun Hung Kai's local expertise and market insights.
In conclusion, GAM's 2024 full-year results show that the company is making strong progress in its turnaround strategy. The cost optimisation initiatives, combined with the successful rights issue and strategic partnerships, position GAM for sustainable growth and profitability in the coming years. Investors should keep a close eye on GAM as it continues to execute its turnaround strategy and strengthen its market position.
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