First-half and second-quarter 2018 results

Thursday 02 August 2018

Results

On Thursday, 2 August, Amundi is releasing its first-half and second-quarter 2018 results. Amundi’s results and business activity are both up sharply and ahead of targets. This high level of profitability has been achieved in particular thanks to the synergies generated by the successful integration of Pioneer. Business activity has been brisk (+€42.4bn) thanks to Retail, MLT assets, and International.

These results, which are ahead of Amundi’s targets, attest to the Group’s solid financial structure. This strength was particularly recognised by Fitch, which confirmed Amundi’s A+ rating in June 2018 , one of the best in the sector.

  

  

The first half of 2018 closed on a solid level of business activity (net inflows of €42.4bn4), bringing assets under management1 to 1,466bn, with adjusted net income coming out to 492m (a sharp increase of +13.6%2) higher than the announced targets 3.  

Net inflows1 in the second quarter (+€2.6bn) were higher than in Q2 20172 (-€2.9bn in combined net inflows), driven mainly by Retail (+€12.9bn); Institutionals (-€10.3bn) suffered from seasonal outflows on treasury products used by Corporates for paying dividends. 

Adjusted net income, Group share4 totalled €252bn (+12.2% vs. Q2 2017).

  

See all the results on our Corporate website 

   

1. Assets under management and inflows include assets under advisory and assets sold and take into account 100% of assets under management and inflows on the Asian JVs. For Wafa in Morocco, assets are reported on a proportional consolidation basis.

2. Change using comparable (6 months Amundi + 6 months Pioneer, or 3 months Amundi + 3 months Pioneer) and adjusted data.

3. Target calculated based on 2017 adjusted and combined net income excluding the non-recurring level of financial income. Press release of 09/02/2018

4. Adjusted data in H1 2018: before amortisation of distribution contracts (€25m after tax) and before costs associated with the integration of Pioneer (€12m after tax). In Q2 2018: before amortisation of distribution contracts (€12m after tax) and before costs associated with the integration of Pioneer (€6m after tax). Refer to methodology section on page 7 of this release.