France · Delayed Price · Currency is EUR Amundi Earnings Call Transcripts
Fiscal Year 2025
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Assets under management rose 6% to nearly EUR 2.4 trillion, driven by record net inflows and strong performance in ETFs, technology, and strategic growth areas. Shareholder returns will total EUR 1.4 billion, and the ICG partnership is set to launch new products in H2.
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Ambitious 2028 targets include over €7 EPS, €300 billion net inflows, and a cost-income ratio below 56%, driven by growth in retirement, ETFs, and technology. Strategic partnerships, especially with ICG, and expansion in Asia and digital channels underpin the plan.
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Net inflows of EUR 67 billion and record AUM of EUR 2.32 trillion were driven by strong performance in ETFs, Asia, and retail. Adjusted profit before tax rose 4% in Q3, with cost efficiency maintained and strategic growth pillars contributing 80% of inflows.
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Record H1 net inflows and AUM growth were achieved despite significant FX headwinds, with strong performance across institutional, retail, and ETF segments. Profitability remained robust, supported by cost discipline and strategic initiatives, while a non-cash capital gain from the Victory Capital deal boosted reported net income.
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Profit before tax rose 11% year-over-year to EUR 458 million, with record net inflows of EUR 31 billion and strong AUM growth. A major UK pension mandate and robust technology revenues drove performance, while a French tax surcharge temporarily impacted net income.
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The partnership with Amundi brings expanded distribution, increased synergies, and significant AUM growth, with a focus on integrating Pioneer, launching new products internationally, and pursuing further organic and inorganic growth. Fixed income and intermediary channels have seen notable gains.
Fiscal Year 2024
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Amundi delivered record 2024 results, surpassing strategic targets with €55bn net inflows, €2.2tn AUM, and 13% net profit growth, driven by diversified segments and strong cost control. M&A and digital expansion further strengthened its position.
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Record AUM of EUR 2.2 trillion and nine-month net income over EUR 1 billion were achieved, driven by strong inflows, especially in ETFs, fixed income, and technology. Cost-income ratio improved to 52.9%, and strategic M&A and JV contributions supported growth despite tax and market headwinds.
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Q2 and H1 saw strong net inflows, record AUM, and 9% net profit growth, driven by robust performance in Asia, third-party distribution, and successful integration of acquisitions. Strategic deals and cost discipline support confidence in meeting 2025 targets.