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Amundi - Annual results 2019

London, UK, 12.02.20,  by Amundi pays

Annual results up again (+12.2%[1])

Strong business activity

 

An excellent

Q4 2019

 

 AuM[2] of €1,653bn at 31 December 2019, an increase of +16% vs. the end of 2018

 Record net inflows2 of +€76.8bn, mainly driven by MLT assets[3]:

    • Net flows (excl. JVs) of +€15.7bn3
    • Net inflows of +€66.7bn3 in the JVs, driven by institutional clients in India 

 Accounting net income1 of €262m, up by +36.5% vs. Q4 2018

 

A year in line with targets

 

 Net inflows of +€107.7bn (of which +€74.2bn from institutional clients in India)

 Outside the JVs, inflows of +€23.8bn, driven by all customer segments and by MLT assets 

 Good financial performance in line with targets:

    • Net revenues[4] up sharply (+4.9% vs. 2018)
    • A cost/income ratio[5] of 50.9%, an improvement of 0.7 points over 2018
    • Adjusted net income5 of €1,009m, up by +6.6% vs. 2018

 Accounting net income of €959m, up by +12.2% vs. 2018

 

Two new strategic partnerships

 

 New stages of development in Spain and China with:

    • A new long-term distribution agreement in Spain with Banco Sabadell and acquisition of Sabadell AM 
    • Authorisation to create a new management company, with a majority stake, in China with BOC

Dividend

 

 Dividend proposed at the General Meeting: €3.10 per share (+6.9% vs. 2018)

 

Paris, 12 February 2020

 

Amundi’s Board of Directors, chaired by Xavier Musca, convened on 11 February 2020 to approve the financial statements for 2019.

 

Commenting on the figures, Yves Perrier, CEO, said:

“Since its creation in 2010, and for the tenth year in a row, Amundi saw growth in its net income. Adjusted net income has risen above one billion euros, in line with the targets announced in the 2018-2022 plan.

These excellent results are driven by high business activity and by greater operational efficiency: The cost-to-income ratio improved further, to 50.9%. 

Amundi enjoys a strong development dynamic. This dynamic will be amplified with two strategic initiatives: the signing of a partnership in Spain with Banco Sabadell, which strengthens our leadership in Europe, and the creation of a new subsidiary in China, in partnership with Bank of China.

In accordance with the goals stated in 2018, Amundi has implemented its ESG plan. This plan particularly aims to incorporate ESG factors into all actively managed open-ended funds.”

 

Footnotes

 

  1. ^ [1] Accounting net income: after amortisation of distribution contracts and, in 2018, integration costs.
  2. ^ [2] Inflows include assets under management and 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.
  3. ^ [3] Medium-Long-Term (MLT) Assets: excluding treasury products
  4. ^ [4] Adjusted data: excluding amortisation of distribution contracts.
  5. ^ [5] Adjusted data: excluding amortisation of the distribution contracts and, in 2018, excluding integration costs.
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About Amundi

Amundi is the European largest asset manager by assets under management1 and ranks in the top 10 globally[1]. It manages 1,653 billion[2] euros of assets across six main investment hubs[3]. Amundi offers its clients in Europe, Asia-Pacific, the Middle East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Clients also have access to a complete set of services and tools. Headquartered in Paris, Amundi was listed in November 2015.

Thanks to its unique research capabilities and the skills of close to 4,500 team members and market experts based in nearly 40 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.

Amundi. Confidence must be earned.

Visit www.amundi.com for more information or to find an Amundi office near you.

 

Footnotes

 

  1. Source IPE “Top 400 asset managers” published in June 2019 and based on AUM as of end December 2018
  2. Amundi figures as of December 31, 2019
  3. Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo

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