Amundi: Q1 2023 Results
Amundi: First quarter 2023
results
A high net
income1,2
at €300 million
Results |
|
Adjusted net
income1,2
of €300 million, thanks to a
diversified profile and operational efficiency
- Resilient management
fees Q1/Q1 despite unfavourable market impacts
- Good cost control in
an inflationary environment
Cost/income ratio at
53.6%2 |
|
|
|
Activity |
|
Healthy inflows for Retail and the JVs in India and
Korea
-
Retail (excluding JV et Amundi BOC WM):
+€4.3 billion, including +4.2 in MLT
assets3, thanks to the success of the
offers adapted to the new context: structured products and Buy
& Watch bond funds
- SBI MF (India)
+€2.8 billion and NH-Amundi (Korea) +€1.6 billion
Total flows (-€11.1 billion) impacted by redemptions for
very-low-margin institutional assets |
|
|
|
Continued development
initiatives |
|
Amundi Technology: 4 new clients in Q1Fund
Channel: closing of the transaction with CACEIS, which
acquires 33.33% of FC’s capital to develop fund execution and offer
an integrated service to distributorsResponsible
investment: €822 billion in assets under management as at
31 March 2023, extension of the range of funds aligned to a Net
Zero trajectory4 |
Paris, 28 April 2023
The Amundi Board of Directors meeting of 27
April 2023, chaired by Yves Perrier, approved the financial
statements for Q1 2023.
CEO Valérie Baudson stated:
“Amundi delivered a good performance in the
first quarter of 2023, in an uncertain market environment.
Our adjusted net income remained stable at €300
million compared to the fourth quarter of 2022, thanks to the
resilience of our revenues and good cost control. The productivity
gains and continued synergies generated by the integration of Lyxor
have enabled us to absorb the effects of inflation while continuing
to invest.
I would also like to underline the healthy
inflows of our Retail activities over the quarter, whether for our
partner networks in France and abroad or for our third-party
distributors”.
* * *
A market context remaining
uncertain
Over one year, the equity and bond markets5 were
down -5% and -12% respectively. Despite a rebound during the first
quarter (+9% on average for the quarter compared to Q4 2022), the
equity markets remain volatile.
-
Results
A healthy financial performance for the
first quarter
Adjusted
data6
Adjusted net
income6 reached €300 million in
Q1 2023, essentially stable compared to Q4 2022, and down
-7.5% from Q1 2022, in line with the unfavourable evolution of the
market.
This strong performance is explained by the
diversification of Amundi's activities and its operational
efficiency, and is reflected in revenue resilience and good cost
control.
Net revenue5
amounted to €794 million, down -4.9% from Q1 2022 but
stable (+0.4%) relative to Q4 2022.
-
Net management fees were
sustained at a high level: €736 million, down -3.9%
year-on-year, to be compared to a -5.9% average drop in assets
under management excluding JVs over the same period, reflecting the
higher margins thanks to the mix effect; net management fees
increased by +2.3% compared to Q4 2022;
-
Revenue growth for Amundi
Technology was robust (+35% compared to
Q1 2022), at €13 million, confirming its development;
- Performance
fees (€28 million) were down significantly compared to the
high comparison base in Q1 and Q4 2022 (respectively €71 million
and €63 million);
- Finally,
net financial and other income
was positive (€16 million), thanks to both the return to positive
yields on the net cash and positive mark-to-market of the
investment portfolio in the quarter.
Operating
costs5 were well under control at €425
million, an increase of only +0.6% compared to Q1
2022, in a context of high inflation.
Inflation, development investments, and the
unfavourable exchange rate effect were largely absorbed by
productivity gains and the pursuit of synergies generated by the
integration of Lyxor.
In this context, the very moderate increase in
costs over one year, well below the inflation rates seen in most of
the countries where Amundi operates, reflects the agility Amundi’s
to adjust its cost base, delivering the best cost/income ratio in
the sector again this quarter: 53.6%6.
Gross operating
income5 (GOI) amounted to €369
million, down -10.5% from Q1 2022 and -2.5% from Q4
2022.
The share of net income of
equity-accounted companies, reflecting
Amundi's share in the net income of minority JVs in India (SBI MF),
China (ABC-CA), South Korea (NH-Amundi), and Morocco (Wafa
Gestion), was up +11.2% relative to Q1 2022,
at €22 million.
Accounting data
Net accounting income (group share) was €285
million in the first quarter, including the amortisation of the
intangible assets (customer contracts related to the acquisition of
Lyxor and the distribution contracts related to previous
transactions), ie -€15m after tax in Q1 2023.
Accounting earnings per share
was €1.40.
-
Activity
Healthy Retail
inflows and favourable business mix
The assets managed by Amundi as of 31
March 2023 were down -4.3% over one year, but up +1.6%
compared to end-2022, at €1,934 billion.
Retail recorded satisfactory
inflows: +€4.3 billion excluding the Chinese
subsidiary Amundi BOC WM. As in 2022, inflows mainly came from
MLT assets, +€4.2 billion, driven
by all segments:
- The French
networks posted net inflows of +€2.7
billion, of which +€0.8 billion in
MLT assets and +€1.9 billion in
treasury products. MLT inflows were driven, as in H2 2022, by
structured products, at +€1.5 billion;
- Inflows from the
International networks (excluding Amundi BOC WM in
China) reached +€1.2 billion, entirely in
MLT assets; as for the French
networks, both structured products (+€0.5 billion) and bond
strategies continued their success achieved in the latter part of
2022; the performance was well-diversified by country and network,
with healthy inflows particularly in Italy with UniCredit, in the
Czech Republic with the Société Générale and UniCredit
subsidiaries, and in Spain with Sabadell.
- Third Party
Distribution experienced a reversal of the trend observed
in Q4 2022: in the first quarter, total inflows of +€0.4 billion
break down into a strong performance of +€2.2
billion in MLT assets, notably in ETFs, and conversely
outflows in treasury product; by geography, the good performance of
Asia should be noted for the quarter.
The strong performance for Retail is more than
offset, however, by MLT asset outflows in very low margin segments
or products, as well as outflows in China, where the asset
management market still shows net redemptions in MLT assets; this
latter factor also explains the net outflows at our JVs:
- Outflows for the
Institutional segment (-€11.7 billion, of which
-€13.7 billion in MLT assets) were largely limited to a few
very-low-margin insurance and institutional mandates, in particular
in the CA & SG Insurers segment, which experienced redemptions
in the traditional life (“euro”) contracts, and a large sovereign
client in index management;
- In
China, Amundi BOC WM recorded outflows of
-€2.8 billion, still related to maturing term funds, and the
ABC-CA JV was impacted by redemptions from large
institutions (outflows of -€5.0 billion).
Excluding the Chinese JV, inflows in the other
JVs were very satisfactory, particularly in India (+€2.8 billion)
and Korea (+€1.6 billion), both continuing to benefit from strong
activity, particularly in MLT assets.
Total net inflows for the quarter were negative
at -€11.1 billion.
-
Continuing development
initiatives
Several important milestones of the Ambitions
2025 development plan were reached during the first quarter:
- Amundi
Technology saw its earnings increase by +35% compared to
Q1 2022 and added 4 new customers, including 3 in Asia. Amundi
Technology and HSBC Securities Services in Asia have signed an
agreement for the use of the ALTO platform. This is a major new
client for the ALTO offering to asset servicers, which already
counts CACEIS, Société Générale Securities Services and Bank of NY
Mellon among its clients. BNY Mellon has successfully deployed ALTO
across 7 of its entities in EMEA;
- Amundi's fund
distribution platform Fund Channel is announcing
today the closing of its transaction with CACEIS. The latter is
acquiring 33.33% of the capital of Fund Channel, to develop fund
execution and offer integrated services to distributors.
- Assets under
management in Responsible Investment reached €822
billion, compared to €800 billion at end-2022, thanks to a positive
market effect. As
part of its Net Zero commitment, on 17 April
Amundi announced the launch of a full range of funds across a wide
range of asset classes aligned to a Net Zero trajectory7, targeting
a reduction by 30% in carbon intensity in 2025 compared to 2019,
and by 60% in 2030.
***
Amundi's Annual General Meeting will take place
on 12 May at 10am CET. As announced on 8 February upon the
publication of the results for 2022, the Board of Directors will
propose to the General Meeting a cash dividend of €4.10 per share,
stable relative to the dividend paid for 2021. This dividend
represents a payout ratio of approximately 75% of net accounting
income (Group share) in 2022, excluding integration costs, and a
yield of 7% based on the closing share price on 25 April 2023.
Financial
disclosure schedule
- AGM for the 2022
financial year: Friday 12 May 2023
- Publication of H1
2023 results: 28 July 2023
- Publication of 9M
2023 results: 27 October 2023
Dividend schedule (€4.10 per share proposed
to the General Meeting of 12 May 2023)
- Ex-dividend date:
Monday 22 May 2023
- Payment: as from
Wednesday 24 May 2023
***
APPENDICES
Quarterly Statement of
income
(€M) |
|
Q1 2023 |
Q1 2022 |
% YoY ch. |
Q4 2022 |
% QoQ ch. |
|
|
|
|
|
|
|
Net revenue - Adjusted |
|
794 |
835 |
-4.9% |
790 |
+0.4% |
Net management fees |
|
736 |
766 |
-3.9% |
720 |
+2.3% |
Performance fees |
|
28 |
71 |
-60.0% |
63 |
-55.0% |
Technology |
|
13 |
10 |
+35.0% |
15 |
-12.7% |
Net financial income & other net income |
|
16 |
(12) |
NM |
(7) |
NM |
Operating expenses
- Adjusted |
|
(425) |
(423) |
+0.6% |
(412) |
+3.2% |
Cost income ratio - Adjusted |
|
53.6% |
50.6% |
+2.9pp |
52.1% |
+1.4pp |
|
|
|
|
|
|
|
Gross operating income
- Adjusted |
|
369 |
412 |
-10.5% |
378 |
-2.5% |
Cost of risk and others |
|
(1) |
(4) |
-85.0% |
(4) |
-87.2% |
Share of net income of equity accounted companies |
|
22 |
20 |
+11.2% |
24 |
-8.1% |
Income before
tax -
Adjusted |
|
390 |
428 |
-8.9% |
398 |
-2.0% |
Corporate tax - Adjusted |
|
(91) |
(103) |
-11.6% |
(96) |
-5.0% |
Non-controlling interests |
|
1 |
(1) |
NM |
0 |
+75.2% |
Net income group share - Adjusted |
|
300 |
324 |
-7.5% |
303 |
-1.0% |
Amortisation of intangible assets (net of tax) |
|
(15) |
(15) |
+0.2% |
(15) |
+0.2% |
Integration costs (net of tax) |
|
0 |
(8) |
NM |
(2) |
NM |
Net income group
share |
|
285 |
302 |
-5.6% |
286 |
-0.4% |
Earnings per share (€) |
|
1.40 |
1.49 |
-5.9% |
1.41 |
-0.4% |
Change in assets under management from
end-2019 to end-March 2023
(€bn) |
Assets under
management |
Net inflows |
Market &
Forex effects |
Scopeeffect |
|
% ch. In
AuM vs previous quarter |
As at 31/12/2019 |
1,653 |
|
|
|
|
+5.8% |
Q1 2020 |
|
-3.2 |
-122.7 |
|
/ |
|
As at 31/03/2020 |
1,527 |
|
|
|
/ |
-7.6% |
Q2 2020 |
|
-0.8 |
+64.9 |
|
/ |
|
As at 30/06/2020 |
1,592 |
|
|
|
/ |
+4.2% |
Q3 2020 |
|
+34.7 |
+15.2 |
|
+20.78 |
|
As at 30/09/2020 |
1,662 |
|
|
|
/ |
+4.4% |
Q4 2020 |
|
+14.4 |
+52.1 |
|
/ |
|
As at 31/12/2020 |
1,729 |
|
|
|
/ |
+4.0% |
Q1 2021 |
|
-12.7 |
+39.3 |
|
/ |
|
As at 31/03/2021 |
1,755 |
|
|
|
/ |
+1.5% |
Q2 2021 |
|
+7.2 |
+31.4 |
|
/ |
|
As at 30/06/2021 |
1,794 |
|
|
|
/ |
+2.2% |
Q3 2021 |
|
+0.2 |
+17.0 |
|
/ |
|
As at 30/09/2021 |
1,811 |
|
|
|
/ |
+1.0% |
Q4 2021 |
|
+65.6 |
+39.1 |
|
+1489 |
|
As at 31/12/2021 |
2,064 |
|
|
|
/ |
+14% |
Q1 2022 |
|
+3.2 |
-46.4 |
|
/ |
|
As at 31/03/2022 |
2,021 |
|
|
|
/ |
-2.1% |
Q2 2022 |
|
+1.8 |
-97.75 |
|
/ |
|
As at 30/06/2022 |
1,925 |
|
|
|
/ |
-4.8% |
Q3 2022 |
|
-12.9 |
-16.3 |
|
/ |
|
As at 30/09/2022 |
1,895 |
|
|
|
/ |
-1.6% |
Q4 2022 |
|
+15.0 |
-6.2 |
|
/ |
|
As at 31/12/2022 |
1,904 |
|
|
|
/ |
+0.5% |
Q1 2023 |
|
-11.1 |
+40.9 |
|
/ |
|
As at 31/03/2023 |
1,934 |
|
|
|
/ |
+1.6% |
|
|
|
|
|
|
|
|
|
Total one year between 31 March 2022 and
31 March 2023: - 4.3%
- Net
inflows €7.3 bn
- Market & forex
effect -€79.3
bn
Breakdown of assets under management
& net inflows by client segment10
(Md€) |
|
|
AuM31.03.2023 |
AuM31.03.2022 |
% ch. /31.03.2022 |
Net inflows Q1
2023 |
Net inflows Q1
2022 |
French networks |
124 |
122 |
+1.7% |
+2.7 |
-1.3 |
International networks |
157 |
172 |
-8.6% |
-1.6 |
+3.5 |
o/w Amundi BOC WM |
4 |
13 |
-68.7% |
-2.8 |
+2.3 |
Third-party distributors |
296 |
322 |
-8.2% |
+0.4 |
+11.9 |
|
|
|
|
|
|
|
|
Retail |
|
|
578 |
617 |
-6.4% |
+1.5 |
+14.1 |
Institutionals & Sovereigns (*) |
472 |
476 |
-0.8% |
+1.0 |
-3.0 |
Corporates |
96 |
95 |
+1.9% |
-7.9 |
-13.4 |
Employee savings |
79 |
75 |
+4.9% |
-0.6 |
-1.3 |
CA & SG Insurers |
416 |
462 |
-9.9% |
-4.3 |
-1.7 |
|
Institutionals |
|
1,064 |
1,108 |
-4.0% |
-11.7 |
-19.4 |
JVs |
|
|
292 |
296 |
-1.1% |
-0.8 |
+8.4 |
TOTAL |
|
|
1,934 |
2,021 |
-4.3% |
-11.1 |
+3.2 |
(*) including funds of funds
Breakdown of assets under management
& net inflows by asset class10
(€bn) |
|
|
AuM31.03.2023 |
AuM31.03.2022 |
% ch. /31.03.2022 |
Net inflows Q1
2023 |
Net inflows Q1
2022 |
Equities |
|
|
425 |
435 |
-2.3% |
-2.9 |
+8.2 |
Multi-asset |
|
|
286 |
328 |
-12.9% |
-7.2 |
+10.9 |
Bonds |
|
|
616 |
661 |
-6.8% |
-3.2 |
+0.5 |
Real, alternative & Structured assets |
125 |
125 |
+0.6% |
+0.9 |
+1.4 |
|
|
|
|
|
|
|
|
MLT ASSETS excl.
JVs |
1,453 |
1,549 |
-6.2% |
-12.4 |
+21.0 |
Treasury products
excl. JVs |
189 |
176 |
+7.4% |
+2.1 |
-26.3 |
|
|
|
|
|
|
|
|
TOTAL ASSETS
excl. JVs |
1,642 |
1,725 |
-4.8% |
-10.3 |
-5.2 |
JVs |
|
|
292 |
296 |
-1.1% |
-0.8 |
+8.4 |
TOTAL |
|
|
1,934 |
2,021 |
-4.3% |
-11.1 |
+3.2 |
o/w MLT assets |
1,716 |
1,812 |
-5.3% |
-11.3 |
+30.2 |
o/w treasury
products |
218 |
209 |
+4.3% |
+0.3 |
-27.0 |
Breakdown of assets under management
& net inflows by geographic
area10
(€bn) |
|
|
Encours31.03.2023 |
Encours31.03.2022 |
% var. /31.03.2022 |
Net inflows Q1
2023 |
Net inflows Q1
2022 |
France |
|
|
903 |
948 |
-4.8% |
-2.4 |
-22.8 |
Italy |
|
|
197 |
209 |
-5.4% |
-0.7 |
+3.8 |
Europe outside France & Italy |
343 |
350 |
-2.0% |
+0.3 |
+8.7 |
Asia |
|
|
371 |
386 |
-4.0% |
-4.8 |
+14.2 |
Rest of the world |
120 |
128 |
-5.9% |
-3.4 |
-0.7 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1,934 |
2,021 |
-4.3% |
-11.1 |
+3.2 |
TOTAL outside
France |
1,031 |
1,072 |
-3.8% |
-8.6 |
+26.0 |
Breakdown of assets under management
& net inflows by management type and asset
class11
(Md€) |
|
|
AuM31.03.2023 |
AuM31.03.2022 |
% ch. /31.03.2022 |
Net inflows T1
2023 |
Net inflows T1
2022 |
Active management |
1,027 |
1,117 |
-8.1% |
-13.1 |
+9.1 |
Equities |
|
|
183 |
183 |
-0.2% |
-1.3 |
-0.7 |
Multi-asset |
|
|
278 |
321 |
-13.5% |
-7.6 |
+11.0 |
Bonds |
|
|
566 |
612 |
-7.6% |
-4.2 |
-1.2 |
Structured products |
33 |
32 |
+6.0% |
+1.1 |
-1.2 |
Passive management |
301 |
307 |
-2.2% |
-0.2 |
+10.6 |
ETF & ETC |
181 |
190 |
-4.6% |
+1.9 |
+9.3 |
Index & Smart beta |
119 |
117 |
+1.6% |
-2.2 |
+1.2 |
Real assets &
Alternatives |
92 |
93 |
-1.2% |
-0.1 |
+2.6 |
Real assets |
66 |
66 |
-0.4% |
-0,1 |
+2,2 |
Alternatives |
26 |
27 |
-3.4% |
-0.0 |
+0,4 |
|
|
|
|
|
|
|
|
MLT ASSETS excl.
JVs |
1,453 |
1,549 |
-6.2% |
-12.4 |
+21.0 |
Treasury products
excl. JVs |
189 |
176 |
+7.4% |
+2.1 |
-26.3 |
|
|
|
|
|
|
|
|
TOTAL ASSETS
excl. JVs |
1,642 |
1,725 |
-4.8% |
-10.3 |
-5.2 |
JVs |
|
|
292 |
296 |
-1.1% |
-0.8 |
+8.4 |
TOTAL |
|
|
1,934 |
2,021 |
-4.3% |
-11.1 |
+3.2 |
o/w MLT assets |
|
1,716 |
1,812 |
-5.3% |
-11.3 |
+30.2 |
o/w treasury
products |
218 |
209 |
+4.3% |
+0.3 |
-27.0 |
Methodology & Alternative Performance
Measures (APM)
Accounting and adjusted
data
- Accounting
data: in 2022 and Q1
2023, accounting data include the amortisation of intangible
assets. In 2022, they also include Lyxor integration costs.
- Adjusted
data: the following adjustments were made
to present the most economically accurate income statement:
restatement of the amortisation of distribution contracts with
Bawag, UniCredit, and Banco Sabadell, and the intangible assets
representing the Lyxor’s client contracts recorded as deduction
from net income; costs of the Lyxor consolidation in 2022
In the accounting data, amortisation of
distribution contracts:
- Q1
2022: -€20 m before tax and -€15 m after tax
- Q4
2022: -€20 m before tax and -€15 m after tax
- Q1
2023: -€20 m before tax and -€15 m after tax
Acquisition de
Lyxor
- In accordance with
IFRS 3, recognition on Amundi’s balance sheet as of 31/12/2021 of:
- goodwill in the amount
of €652 m;
- an intangible asset
(representing client contracts), of -€40 m before tax (-€30 m after
tax), which will be amortised on a straight-line basis over 3
years;
- In the Group income
statement, the above-mentioned intangible asset will be amortised
on a straight-line basis over 3 years starting in 2022; the
full-year impact of this amortisation will be -€10 m net of tax
(i.e. -€13 m before tax). This amortisation will be recognised as a
deduction from net income and will be added to the existing
amortisation of distribution agreements.For Q1 2022, Q4 2022, and
Q1 2023 the amortisation expense for this intangible asset was
respectively -€2 m (-€3 m before tax).
- €10 m in
integration costs before tax were recorded for Q1
2022 and €2 m for Q4 2022. Integration costs were fully recorded in
2021 and 2022, for a total of €77 m before tax (including €16 m in
Q4 2021 and €57 m after tax including €12 m in Q4 2021).
Alternative Performance
Measures12
To present the most economically accurate income
statement, Amundi publishes adjusted data which excludes
amortisation of intangible assets and the impact of Affrancamento
(see above).
These adjusted and normalised data are
reconciled with accounting data as follows:
(€m) |
|
T1 2023 |
|
T1 2022 |
|
%Var. T1/T1 |
|
T4 2022 |
|
%Var. T1/T4 |
|
|
|
|
|
|
|
|
|
|
|
Net revenue (a) |
|
773 |
|
814 |
|
-5.0% |
|
770 |
|
+0.5% |
- Amortisation of intangible assets (bef. Tax) |
|
-20 |
|
-20 |
|
+0% |
|
-20 |
|
+0.0% |
Net revenue - Adjusted
(b) |
|
794 |
|
835 |
|
-4.9% |
|
790 |
|
+0.5% |
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
(c) |
|
-425 |
|
-433 |
|
-1.7% |
|
-414 |
|
+2.6% |
- Integration costs (before tax) |
|
0 |
|
-10 |
|
/ |
|
-2 |
|
/ |
Operating expenses
- Adjusted
(d) |
|
-425 |
|
-423 |
|
+0.6% |
|
-412 |
|
+3.2% |
|
|
|
|
|
|
|
|
|
|
|
Gross operating income
(e) = (a) + (c) |
|
348 |
|
382 |
|
-8.7% |
|
356 |
|
-2.0% |
|
|
|
|
|
|
|
|
|
|
|
Gross operating income - Adjusted (f) = (b) +
(d) |
|
369 |
|
412 |
|
-10.5% |
|
378 |
|
-2.5% |
Cost income ratio (%) (c) / (a) |
|
55.0% |
|
53.1% |
|
+1.8pp |
|
53.8% |
|
+1.2pp |
Cost income ratio - Adjusted (d)
/ (b) |
|
53.6% |
|
50.6% |
|
+1.4pp |
|
52.1% |
|
+1.4pp |
Cost of risk & others (g) |
|
-1 |
|
-4 |
|
-85% |
|
-4 |
|
-87.2% |
Share of net income of equity accounted companies (h) |
|
22 |
|
20 |
|
+11.2% |
|
24 |
|
-8.1% |
Income before
tax (i) = (e) + (g) + (h) |
|
370 |
|
398 |
|
-7.1% |
|
375 |
|
-1.5% |
|
|
|
|
|
|
|
|
|
|
|
Income before tax - Adjusted (j) = (f) + (g) +
(h) |
|
390 |
|
428 |
|
-8.9% |
|
398 |
|
-2.0% |
|
|
|
|
|
|
|
|
|
|
|
Corporate tax (k) |
|
-85 |
|
-94 |
|
-9.8% |
|
-89 |
|
-4.6% |
Corporate tax - Adjusted (l) |
|
-91 |
|
-103 |
|
-11.6% |
|
-96 |
|
-5.0% |
Non-controlling interests (m) |
|
1 |
|
-1 |
|
/ |
|
0 |
|
/ |
Net income group share (o) =
(i)+(k)+(m) |
|
285 |
|
302 |
|
-5.6% |
|
286 |
|
-0.4% |
|
|
|
|
|
|
|
|
|
|
|
Net income group share - Adjusted (p) =
(j)+(l)+(m) |
|
300 |
|
324 |
|
-7.5% |
|
303 |
|
-1.0% |
Shareholder structure
|
31 December
2021 |
31 December
2022 |
31 March 2023 |
|
|
|
|
|
Number of shares |
% capital |
Number of shares |
% capital |
Number of shares |
% capital |
Crédit Agricole Group |
141,057,399 |
69.46 % |
141,057,399 |
69.19 % |
141,057,399 |
69.19 % |
Employees |
1,527,064 |
0.75 % |
2,279,907 |
1.12 % |
2,238,508 |
1.10 % |
Treasury shares |
255,745 |
0.13 % |
1,343,479 |
0.66 % |
1,331,680 |
0.65 % |
Free float |
60,234,443 |
29.66 % |
59,179,346 |
29.03 % |
59,232,544 |
29.06 % |
Number of shares at end of period |
203,074,651 |
100.0 % |
203,860,131 |
100.0 % |
203,860,131 |
100.0 % |
Average number of shares for the period |
202,793,482 |
202,793,482 |
203,414,667 |
/ |
203,860,131 |
/ |
- Average number of
shares on a pro-rata basis
- The capital
increase reserved for employees took place on 26/07/2022. 0.5
million shares were created, bringing the portion of capital owned
by employees to 1.10% on 31/03/2023.
About Amundi
Amundi, the leading European asset manager,
ranking among the top 10 global players13, offers its 100 million
clients - retail, institutional and corporate - a complete range of
savings and investment solutions in active and passive management,
in traditional or real assets. This offering is enhanced with IT
tools and services to cover the entire savings value chain. A
subsidiary of the Crédit Agricole group and listed on the stock
exchange, Amundi currently manages more than €1.9 trillion of
assets14.
With its six international investment hubs15,
financial and extra-financial research capabilities and
long-standing commitment to responsible investment, Amundi is a key
player in the asset management landscape.
Amundi clients benefit from the expertise and
advice of 5,400 employees in 35 countries.
Amundi, a trusted partner, working every
day in the interest of its clients and society.
Press contact:
Natacha
Andermahr Tel. +33 1 76 37 86
05natacha.andermahr@amundi.com
Investor contacts:Cyril Meilland,
CFATel. +33 1 76 32 62
67cyril.meilland@amundi.com
Thomas LapeyreTel. +33 1 76 33 70
54thomas.lapeyre@amundi.com
DISCLAIMER:
This document may contain projections concerning
Amundi's financial situation and results. The figures provided do
not constitute a “forecast” as defined in Commission Delegated
Regulation (EU) 2019/980.
This information is based on scenarios that
employ a number of economic assumptions in a given competitive and
regulatory context. As such, the projections and results indicated
may not necessarily come to pass due to unforeseeable
circumstances. The reader should take all of these uncertainties
and risks into consideration before forming their own opinion.
The figures presented were prepared in
accordance with IFRS guidelines as adopted by the European Union.
Data including Lyxor in 2021, before the integration in the
accounts as from 1 January 2022, (with assumptions about the
restatement of certain activities retained by SG).
The information contained in this presentation,
to the extent that it relates to parties other than Amundi or comes
from external sources, has not been verified by a supervisory
authority, and no representation or warranty has been expressed as
to, nor should any reliance be placed on, the fairness, accuracy,
correctness or completeness of the information or opinions
contained herein. Neither Amundi nor its representatives can be
held liable for any decision made, negligence or loss that may
result from the use of this presentation or its contents, or
anything related to them, or any document or information to which
the presentation may refer.
1 Attributable net income2 Adjusted data:
excludes amortisation of intangible assets, and in 2022 Lyxor
integration costs (see note p. 8)3 MLT: Medium/Long Term4 All Net
Zero Ambition passive management funds comply with the EU’s CTB/PAB
criteria5 Quarterly averages, Bloomberg Global Aggregate for bonds
and 50% MSCI World + 50% Eurostoxx 600 composite index for
equities6 Adjusted data: excludes amortisation of intangible assets
and in 2022 Lyxor integration costs (see note p. 8)7 All Net Zero
Ambition passive management funds comply with the EU’s CTB/PAB
criteria8 Sabadell AM9 Lyxor, consolidated on 31/12/202110 Assets
under management and net inflows, including assets under advisory
and marketed assets, and comprising 100% of net inflows and the
assets managed by the Asian JVs. For Wafa Portfolio Management in
Morocco, assets under management and inflows are reported on a
proportional consolidation basis11 Assets under management and net
inflows, including assets under advisory and marketed assets, and
comprising 100% of net inflows and the assets managed by the Asian
JVs. For Wafa Portfolio Management in Morocco, assets under
management and inflows are reported on a proportional consolidation
basis12 See also Section 4.3 of the 2022 Universal Registration
Document filed with the AMF on 7 April 202313 Source: IPE “Top 500
Asset Managers” published in June 2022, based on assets under
management as at 31/12/202114 Amundi data as at 31/03/202315
Boston, Dublin, London, Milan, Paris and Tokyo
- Amundi PR Q1-2023 results_vdef
Amundi (EU:AMUN)
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De Oct 2024 a Nov 2024
Amundi (EU:AMUN)
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