French asset manager Amundi, owned by Credit Agricole, has reported net income group share of €192m for the fourth quarter of 2018.

This is a decrease of 8% from last year’s figure of €209m.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The company’s adjusted net income group share during the period dived 16% to €225m from €269m.

Adjusted net revenue stood at €620m, down 17% from €751 in the previous year.

Compared to a year ago, adjusted gross operating income plummeted 20% to €294 while adjusted operating expenses decreased 14% to €326m.

Amundi’s assets under management totalled €1.42 trillion at the end of December 2018, stable compared to a year ago.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The fourth quarter reported negative flows of €6.5bn. The Retail segment was said to be resilient.

However, the institutional segment recorded net outflows of €7bn.

Amundi CEO Yves Perrier said the business had performed well in 2018 to increase its net income by 25% to €855m: “Despite an unfavourable market environment, Amundi’s results increased sharply once again in 2018. There are two factors behind this improvement. First, business momentum remained strong, despite the market context, and benefited from Amundi’s significant international presence, particularly in Asia.

“Second, the Pioneer integration has been a success, and the acquisition has significantly strengthened Amundi’s business model; the integration was executed quickly and competently, and therefore the total amount of synergies has been increased to €175m per year.”