France · Delayed Price · Currency is EUR Amundi Earnings Call Transcripts
Fiscal Year 2026
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Asia is positioned as a key growth engine, targeting EUR 150 billion in net inflows through a pan-Asian strategy combining direct presence and joint ventures. The plan focuses on wealth, institutions, retirement, and innovation, with strong emphasis on ESG, digitalization, and scalable partnerships.
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Q1 2026 delivered strong net inflows, record AUM, and double-digit profit growth, with robust momentum in ETFs, private assets, and technology revenues. Cost discipline improved the cost-income ratio, and strategic initiatives in retirement and digital channels advanced.
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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The 2028 plan targets €7+ EPS, €300bn net inflows, and a cost-income ratio below 56%, driven by growth in retirement, Asia, ETFs, and technology. Capital management prioritizes M&A and share buybacks, with a new ICG partnership to boost private assets and EPS.
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Net inflows reached EUR 67 billion over nine months, driving AUM to a record EUR 2.32 trillion despite currency headwinds. Q3 pre-tax income rose 4% year-over-year, with strong contributions from strategic pillars and technology. UniCredit partnership uncertainty and Indian EPFO outflows are key risks.
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Record net inflows and AUM growth in H1 2025 were achieved despite significant forex headwinds, with strong performance across institutional, retail, and ETF segments. Profitability remained solid, supported by cost control and strategic initiatives, while the Victory Capital partnership and cost optimization plan are set to drive future growth.
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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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Record 2024 results with EUR 55bn net inflows, 10% AUM growth, and 13% higher net profit. Surpassed strategic targets early, expanded digital and tech partnerships, and maintained strong cost efficiency. Dividend raised to EUR 4.25 per share.
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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.