Corporate Q2 and H1 2020 results

SG partnership renewed for five years

Good level of business activity and earnings

Business activity

  • AuM1 of €1,592bn at 30 June 2020, an increase of +7% year-on-year (+4% vs. the end of March 2020)
  • Good trend in Medium-Long-Term2 assets: inflows +€3.5bn in Q2 2020, offsetting outflows in treasury products

Results

  • Revenues3 affected by the market downturn (-7.3% in Q2 2020 vs. Q2 2019)...
  • ... offset by a reduction of operating expenses (-7.8% in Q2 2020 vs. Q2 2019) while continuing to hire for growth
  • Cost/income ratio3 improving (50.9% in Q2 2020, -0.3 pt. vs. Q2 2019)
  • Adjusted net income3 still high: €233m (vs. €258m in Q2 2019)
  • Excluding the impact of the market’s downturn, Q2 2020 income would be comparable to Q2 2019

Partnership with Société Générale

  • Partnership renewed for 5 years

Growth drivers

  • Sabadell AM in Spain: a deal that boosts Amundi's European leadership, with integration well under way
  • New JV with BoC in China: a promising project staying on schedule

Amundi’s Board of Directors, chaired by Xavier Musca, convened on 30 July 2020 to review the financial statements for the first half of 2020.

Yves Perrier

Amundi's CEO
Despite an unfavourable market environment, Amundi’s business activity and earning were solid in the 2nd quarter, which proves the company’s business model is sound. Medium-Long-Term assets inflows turned positive, thanks notably to real assets and passive management.

The Q2 2020 cost/income ratio of 50.9% was improved by 0.3 pt vs. the second quarter of 2019. Adjusted net income amounted to €233m. Excluding the impact on revenues of the decrease of average financial markets levels, this net income would be comparable to that of Q2 2019.

The partnership with Société Générale has been renewed in all its aspects, which strengthens Amundi's position as a reference partner of the Retail networks in Europe

The growth drivers initiated at the start of the year are taking shape in line with our stated objectives:

The acquisition of Sabadell AM, making Amundi the 4th player in Spain, was finalized at the end June, and the expected synergies have been revaluated.
The implementation of the joint-venture with BOC in China continues in line with the envisaged plan, with a launch of operations planned in Q4 2020
Lastly, Amundi continued to implement its ESG plan announced in October 2018, stepping up responsible investing initiatives
  1. Assets under management and net inflows (excluding Sabadell AM) include assets under advisory and assets marketed and take into account 100% of assets under management and net inflows on the Asian JVs. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
  2. Medium-Long-Term Assets: excluding -€4.3bn in treasury products in Q2 2020.
  3. Adjusted data: excluding amortisation of distribution contracts; See page 10 for definitions and methods.
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In focus

Corporate

Résultats Amundi - Résultats annuels et du T4 2021

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A propos d'Amundi

Premier gérant d’actifs européen parmi les 10 premiers acteurs mondiaux1, Amundi propose à ses 100 millions de clients - particuliers, institutionnels et entreprises - une gamme complète de solutions d’épargne et d’investissement en gestion active et passive, en actifs traditionnels ou réels. Cette offre est enrichie de services et d’outils technologiques qui permettent de couvrir toute la chaîne de valeur de l'épargne. Filiale du groupe Crédit Agricole, Amundi est cotée en Bourse et gère aujourd’hui plus de 2 300 milliards d’euros d’encours2.

Ses six plateformes de gestion internationales3, sa capacité de recherche financière et extra-financière, ainsi que son engagement de longue date dans l’investissement responsable en font un acteur de référence dans le paysage de la gestion d’actifs.

Les clients d’Amundi bénéficient de l’expertise et des conseils de 5 600 professionnels dans 35 pays.

Amundi, un partenaire de confiance qui agit chaque jour dans l’intérêt de ses clients et de la société.

www.amundi.com    

Footnotes

  1. Source : IPE « Top 500 Asset Managers » publié en juin 2024 sur la base des encours sous gestion au 31/12/2023
  2. Données Amundi au 31/03/2025
  3. Paris, Londres, Dublin, Milan, Tokyo et San Antonio (via notre partenariat stratégique avec Victory Capital)

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