Q1 2022 Results
A solid quarter in a less favourable environment
Robust inflows1 in MLT2 assets excl. JVs (+€21bn), particularly in Retail
Net income up +5% vs. Q1 20213,4
Business activity
- Robust business activity driven by Retail and by the main areas of expertise
- Inflows of +€21bn in MLT assets5, +€8bn in JVs and outflows from treasury products (-€26bn)
- Amundi continued to develop despite the market environment and the international crisis
- AuM of €2,021bn as of 31/03/2022, up +15% year-on-year
Results
- Growth in adjusted net income of +5% vs. Q1 20214, in particular thanks to the Lyxor integration
- Increase in asset management revenues (+8.7% vs. Q1 20214), driven by strong inflows over several quarters, amplified by Lyxor integration and market growth over the year
- Excellent operational efficiency maintained (cost/income ratio3 4 of 50.6% in Q1 2022)
Lyxor
- Excellent business momentum
- Integration in line with the roadmap
- Successful start to the first IT migration projects
Responsible Investment
- Inflows of +€9bn in MLT7 assets
- AuM of €834bn at the end of March 2022
Russia/Ukraine
- A very limited impact
- Non-material client exposure
- Very low exposure to Russian and Ukrainian assets
- Strict application of European and international sanctions
Paris, 29 April 2022
Amundi’s Board of Directors, chaired by Yves Perrier, convened on 28 April 2022 to review the financial statements for the first quarter of 2022.
In a more difficult backdrop due to increased market volatility and the conflict in Ukraine, Amundi has had a solid quarter thanks to robust inflows in medium- and long-term assets, driven by the majority of our areas of expertise and our different customer segments. The acquisition of Lyxor is paying off with solid business momentum in passive management.
The increase in our earnings and high level of operational efficiency shows that our diversified model is resilient and our strategic choices are appropriate.
- Assets under management (including Lyxor as of 31/12/2021) and net inflows (including Lyxor in Q1 2022 only) include assets 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 Assets: excluding treasury products
- Adjusted data: excluding amortisation of intangible assets and excluding integration costs. See page 6 for definitions and methodology.
- Change from Q1 2021 reported data, excluding Lyxor
- Excl. JVs
- Excl. insurer mandates
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