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Q1 2022 Results

April 29, 2022 by Amundi

Q1 2022 Results

A solid quarter in a less favourable environment

Robust inflows[1] in MLT[2] assets excl. JVs (+€21bn), particularly in Retail

Net income up +5% vs. Q1 2021[3], [4]

 

Business activity
  • Robust business activity driven by Retail and by the main areas of expertise
  • Inflows of +€21bn in MLT assets[5], +€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[6]
  • Inflows of +€9bn in MLT[7] 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.

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

“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”.

Footnotes

 

  1. 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.
  2. Medium/Long-Term Assets: excluding treasury products
  3. Adjusted data: excluding amortisation of intangible assets and excluding integration costs. See page 6 for definitions and methodology.
  4. Change from Q1 2021 reported data, excluding Lyxor
  5. Excl. JVs
  6. See glossary in Amundi’s 2021 Universal Registration Document
  7. Excl. insurer mandates
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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 2021. In[...]

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Nathalie Boschat

Head of Press, Digital & Corporate Communications

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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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