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Q3 and 9M 2022 results

London, UK,

Net income1 of  €282m in the third quarter, up 5% on the second quarter

Results

 9M 2022: high level of net income1 (€875m) and operational efficiency maintained

 

 A solid Q3 in difficult market conditions

  • High level of net management fees, up 2% vs. Q2 2022
  • Expenses1 down by 2% vs. Q2 2022 (cost-income ratio1 of 54.7%)
  • Adjusted net income1 of €282m, up 5% vs. Q2 2022

Business activity

 

 9M 2022: flows2 of -€8.0bn of which +€7.5bn in Medium/Long-Term Assets3 excluding JVs 

 

 Q3 2022: flows of -€12.9bn of which -€3.5bn in MLT excluding JVs 

  • Positive activity in the networks and in active expertise
  • Outflows in passive management (third-party distributors and Institutionals) related to the “derisking” context

 Assets under management of €1,895bn at 30 September 2022: +5% year-on-year and -2% over 3 months

Integration of Lyxor

 Operational integration complete (IT migration accomplished)

 Initial effects of revenue and cost synergies recorded

 

Amundi’s Board of Directors, chaired by Yves Perrier, convened on 27 October 2022 to review the financial statements for the third quarter and first nine months of 2022.

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

“Over the first nine months of the year, Amundi showed solid performance in a persistently tough market environment, maintaining a high level of profitability and operational efficiency. In the third quarter, Amundi’s activity held up well, particularly in medium/long-term assets, in a market characterised by strong outflows4. Lyxor's operational integration was successfully completed, allowing to record the initial effects of revenue and cost synergies. These results confirm the robustness of Amundi's profile.”

 

Footnotes

1. Adjusted data: excluding amortisation of intangible assets and excluding integration costs and, for 9M 2021, excluding the impact of Affrancamento. See page 8 for definitions and methodology. 

2. 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.

3. Medium/Long-Term (MLT) Assets: excluding Treasury products.

4. Morningstar open-ended fund data at end September 2022. See page 2

 

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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.

With its six international investment hubs[2], 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. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages nearly €1.9 trillion of assets[3].

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] Boston, Dublin, London, Milan, Paris and Tokyo
  3. ^ [3] Amundi data as at 30/09/2022

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