Amundi Financial Results and Strategic Developments 2019

Annual results up again (+12.2%¹)
Strong business activity

An excellent Q4 2019

AuM² of €1,653bn at 31 December 2019, an increase of +16% vs. the end of 2018

Record net inflows² of +€76.8bn, mainly driven by MLT assets³:

Net flows (excl. JVs) of +€15.7bn³
Net inflows of +€66.7bn³ in the JVs, driven by institutional clients in India

Accounting net income¹ of €262m, up by +36.5% vs. Q4 2018

A year in line with targets

Net inflows of +€107.7bn (of which +€74.2bn from institutional clients in India)

Outside the JVs, inflows of +€23.8bn, driven by all customer segments and by MLT assets

Good financial performance in line with targets:

Net revenues⁴ up sharply (+4.9% vs. 2018)
A cost/income ratio⁵ of 50.9%, an improvement of 0.7 points over 2018
Adjusted net income⁵ of €1,009m, up by +6.6% vs. 2018

Accounting net income of €959m, up by +12.2% vs. 2018

Two new strategic partnerships

A new long-term distribution agreement in Spain with Banco Sabadell and acquisition of Sabadell AM
Authorisation to create a new management company, with a majority stake, in China with BOC

Dividend

Dividend proposed at the General Meeting: €3.10 per share (+6.9% vs. 2018)

Amundi’s Board of Directors, chaired by Xavier Musca, convened on 11 February 2020 to approve the financial statements for 2019.

Yves Perrier

Amundi's CEO

Since its creation in 2010, and for the tenth year in a row, Amundi saw growth in its net income. Adjusted net income has risen above one billion euros, in line with the targets announced in the 2018-2022 plan.

These excellent results are driven by high business activity and by greater operational efficiency: The cost-to-income ratio improved further, to 50.9%.

Amundi enjoys a strong development dynamic. This dynamic will be amplified with two strategic initiatives: the signing of a partnership in Spain with Banco Sabadell, which strengthens our leadership in Europe, and the creation of a new subsidiary in China, in partnership with Bank of China.

In accordance with the goals stated in 2018, Amundi has implemented its ESG plan. This plan particularly aims to incorporate ESG factors into all actively managed open-ended funds.

Accounting net income: after amortisation of distribution contracts and, in 2018, integration costs.
Inflows include assets under management and under advisory and assets sold and take into account 100% of the Asian JVs’ inflows and assets under management. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
Medium-Long-Term (MLT) Assets: excluding treasury products
Adjusted data: excluding amortisation of distribution contracts.
Adjusted data: excluding amortisation of the distribution contracts and, in 2018, excluding integration costs.