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Amundi : H1 2022 results

Resilient earnings in an unfavourable market environment

A high level of net income[1]: €593m in H1

Resilient business activity: +€5bn inflows in H1

 

Results

H1 2022: high level of net income and continued operational efficiency

  • Significant increase in net management fees (+12% vs. H1 2021 and +4.6% on a like-for-like basis[2])
  • Operational efficiency maintained (53% cost/income ratio1)
  • High level of adjusted net income1: €593m

 

A resilient Q2 

  • Resilient net management fees in an unfavourable environment
  • Lower performance fees, in line with market conditions
  • Stable operating expenses1
  • Adjusted net income1 of €269m

Business activity

 

A good 1st half: inflows[3] of +€5.0bn, and +€11.0bn in MLT ex JVs[4]

  • Strong momentum in Retail(+€13.4bn in MLT assets4, [5])
  • Limited outflows with Institutional clients: -€2.4bn in MLT assets4,5
  • Outflows in treasury products4 (-€27.6bn)
  • Buoyant net inflows in the Asian JVs (+€21.5bn)

 

Q2: positive inflows3 of +€1.8bn

  • Retail: resilient activity (-€0.9bn in MLT assets4,5),
  • Institutionals: outflows of -€9.1bn (MLT assets4,5), against a backdrop of derisking
  • Almost stable activity in treasury products4 (-€1.3bn)
  • Strong business momentum in JVs (+€13.1bn)

 

Assets under management of €1,925bn at 30/06/2022

 

 

Paris, 29 July 2022

Amundi’s Board of Directors, chaired by Yves Perrier, convened on 28 July 2022 to review the financial statements for the first half of 2022.

Commenting on the figures, Valérie Baudson, CEO, said:

“In an unfavourable environment, Amundi maintained a good level of profitability and operational efficiency, demonstrating the robustness of its diversified model.  

Total inflows were positive in Q2, thanks to the resilience of the Retail business, the strength of our Asian joint ventures and the good performance of our growth drivers. Amundi Technology continued to develop and saw its revenues increase sharply.”

 

Footnotes

  1. Adjusted data: excluding amortisation of intangible assets and excluding integration costs and, in Q2 2021, excluding the impact of Affrancamento. See page 11 for definitions and methodology.
  2. vs. H1 combined with Lyxor
  3. Assets under management and net inflows including Lyxor AM as of Q1 2022 include assets under advisory and assets marketed and take into account 100% of the Asian JVs’ assets under management and net inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
  4. Excl. JVs
  5. Medium/Long-Term Assets: excluding treasury products
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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 €1.9 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 5,400 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 2022, based on assets under management as at 31/12/2021
  2. ^ [2] Amundi data as at 31/12/2022
  3. ^ [3] Boston, Dublin, London, Milan, Paris and Tokyo

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