Amundi Q1 2021 Results Donnerstag, 29. April 2021 - 08:05

Amundi Q1 2021 Results

Net income up sharply (+50% vs. Q1 2020 and +7% vs. Q4 2020[1])

Robust inflows[2] on MLT assets[3] (+€9.8bn[4]), particularly in Retail

Results

– Adjusted net income 1 of €309m (+50.1% vs. Q1 2020 and +7.1% vs. Q4 2020)

– Net asset management revenues up by +15.1% vs. Q1 2020, driven by management fees

(+5.1% vs. Q1 2020) and a high level of performance fees (€111m vs. €42m in Q1 2020)

– Cost/income ratio of 48.8%1 (vs. 54.1% in Q1 2020)

Business activity

– AuM2 of €1,755bn at 31/03/2021, up +14.9% year-on-year (+1.5% for the quarter)

– Robust inflows in MLT assets 3,4: +€9.8bn driven primarily by Retail (+€7.8bn)

– Outflows in treasury products (-€18.6bn4) linked to the interest rate environment

– Positive momentum in JVs (+€3bn) but outflows in Channel Business in China

(-€7.0bn) as expected

– Total net inflows of -€12.7bn

Lyxor

– On 7 April 2021, Amundi entered into exclusive negotiations with Societe Generale for the

acquisition of Lyxor

– This acquisition improves Amundi's key expertise, mainly in the fast-growing ETF market,

and generates substantial value

– Completion of the transaction is expected no later than February 2022