Newsroom Amundi

Newsroom

Corporate

Amundi: 2023 Q4 & Full-year Results

Paris, France, February 7, 2024 by Amundi

2023: net income 1,2 rose to €1.2bn, inflows of +€26bn, o/w +€19bn in Q4

Financial results
up

 

High adjusted net income for1,2 2023: €1,224m, +3.9% /2022

  • Cost control despite inflation, operational efficiency maintained at the highest levels
  • Cost-income ratio of 53.2%2, still at the best level of the industry

Q4: adjusted net income[1],[2] of €313m, +7.9% Q4/Q3

Dividend per share proposed to the Annual General Meeting: €4.10 per share, yield of 6.6%[3]

 

 

 

High net inflows thanks to a diversified business model

 

Assets: €2,037bn as of 31 December 2023, +7.0% over one year

Full-year 2023 net inflows of +€26bn

  • Strong net inflows in key areas of expertise tailored to market conditions: active bond management +€18bn[4], treasury products +€19bn
  • MLT assets[5] stable throughout the year despite context of risk aversion
    (vs. major outflows in the European open-ended fund market    [6])

Success in product innovation: Amundi global #1 in Target Maturity bond funds (+€11bn in 2023 net inflows), high net inflows in structured products (+€5.6bn)

Q4: very high net inflows of +€19.5bn

 

 

 

Continuing development according to 2025 Medium Term Plan

 

2023: development in line with the priorities of the 2025 Ambitions plan:

  • Passive Management: +€13bn in ETF net inflows
  • Real assets: +€2bn in private debt and multi-management net inflows
  • Asia: assets under management of €399bn, strong inflows for the JVs in India and South Korea
  • Technology & Services: +10 new clients for Amundi Technology
  • Responsible Investment: Amundi is among the global Top 3 its policy of voting on environmental and social ambitions[7]

 

 

 

Acquisition of Alpha Associates

 

Value-creating acquisition in the area of real assets (private debt, infrastructure and private equity)

  • €8.5bn in assets in multi-management of private assets
  • Average annual growth of +15% in assets since 2018
  • Expected return on investment > 13% after 3 years

 

The Amundi Board of Directors held a meeting chaired by Philippe Brassac on 6 February 2024, and approved the 2023 fourth-quarter and yearly financial statements.

 

Valérie Baudson, CEO, stated:

“2023 was a very satisfactory year for Amundi: our net inflows reached +€26bn and our net profit grew by +4% to €1.2bn. We are also continuing along the path of our development plan, with the announcement of a new acquisition in real assets.

All throughout the year, Amundi has successfully supported its clients with solutions tailored to market conditions, in bonds, passive management, and treasury products, where we enjoy widespread recognition of our expertise. By the same token, our structured products and Target Maturity bond funds, a segment in which Amundi is the global leader, have been particularly attractive to our clients, in a context of high rates and inflation.

We achieved growing profitability thanks to higher revenues, the very dynamic contribution of our Asian JVs, and our ability to maintain operational efficiency.

Furthermore, we are continuing to implement our strategic plan, with the acquisition of Alpha Associates, which will help speed up our development in the rapidly growing multi-management market for private debt, infrastructure, and private equity. This move is in perfect alignment with our strategic objectives and criteria for acquisition, and constitutes yet another driver for growth and value creation for our clients and our shareholders.”

Footnotes

 

  1. ^ [1] Net income, Group share
  2. ^ [2] Adjusted data: excludes amortisation of intangible assets and integration costs for Lyxor in Q4 2022 and full-year 2022 year (see note p. 11)
  3. ^ [3] Based on the share price as of 2 February 2023 (€61.90 at closing)
  4. ^ [4] Excluding CA & SG insurers
  5. ^ [5] Medium-Long Term Assets, excluding JVs
  6. ^ [6] Source: Morningstar, European open-ended, cross-border, and domestic funds
  7. ^ [7] Voting Matters 2023 report by the UK charity ShareAction; Amundi was 3rd among the 69 main asset managers worldwide, with a score of 98%. ShareAction evaluated 257 shareholder resolutions in 2023.
To secure its communication, contents are certified on the blockchain using Wiztrust
Expert
Valérie Baudson

Valérie Baudson

Member of Executive Committee of Crédit Agricole S.A., Chief Executive Officer of Amundi

Valérie Baudson is Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of the asset management division and a member of the Executive Committee of Crédit Agricole SA since May 202[...]

Read more
Contact

Corentin Henry

Head of Press Relations and Social Media

About Amundi

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players[1], 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 €2.2 trillion of assets[2].

With its six international investment hubs[3], 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 5,700 employees in 35 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society.

www.amundi.com 

Footnotes

 

  1. ^ [1] Source: IPE "Top 500 Asset Managers" published in June 2024 based on assets under management as of 31/12/2023
  2. ^ [2] Amundi data as at 31/03/2025
  3. ^ [3] Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)

A question? A specific need? CONTACT US!

Sites internet Amundi