Newsroom
Amundi posts a net income up +19% in the second quarter[1]
|
High level of earnings |
|
Q2 2023: Adjusted net income[2],[3] of €320m, +19% Q2/Q2, thanks to top line growth and very good cost control
H1 2023: Adjusted net income2,3 €620m, +4.5% H1/H1 |
|
|
|
|
|
Positive inflows |
|
In a risk-averse environment, the asset management market in Europe1 recorded weak inflows in Q2, especially in medium/long-term assets, with outflows in active management Positive inflows for Amundi: +€3.7bn, thanks to an adapted offering
AuM of €1,961bn at 30 June 2023 (+1.9% year-on-year, +1.4% over three months) |
|
|
|
|
|
Continued development |
|
Amundi Technology: 3 new clients in Q2, 7 in H1, of which 6 abroad, revenue +31% Q2/Q2 Continued development of the SBI MF JV in India: strong inflows (+€3.6bn) and net income growth Responsible Investment: extension of the range of funds aligned with a Net Zero trajectory and of the share of the ESG products in the ETF range (30%[5] at 30 June 2023) |
Amundi's Board of Directors, chaired by Philippe Brassac, met on 27 July 2023 and approved the financial statements for the first half and the second quarter of 2023.
Valérie Baudson, Chief Executive Officer, said:
"Amundi posted a very strong financial performance in the second quarter, despite persistently uncertain markets. Its net income increased by +19% compared to the second quarter of 2022, to €320 million thanks to top line growth and very good cost control in an inflationary environment.
We were able to adapt our offer to meet the needs of investors, who are still predominantly risk-averse. This resulted in robust sales momentum, with positive inflows in both medium- and long-term assets and treasury products.
At the same time, we continued our development, gaining new clients for Amundi Technology and expanding our Responsible Investment offering".
Footnotes
- ^ [1] Adjusted net attributable profit in the second quarter of 2023 compared to the second quarter 2022 (see note p. 8 for the detail of adjustments)
- ^ [2] Net income Group share
- ^ [3] Adjusted data: excluding amortisation of intangible assets and Lyxor integration costs in 2022 (see note p. 8)
- ^ [4] Medium/Long-Term Assets excl. JVs
- ^ [5] In number of ETFs
Expert
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
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.
Footnotes
