First Quarter 2024 Results

Assets under management at an all-time high
Healthy inflows of +€17bn, net income^[1],[2] up +6% Q1/Q1

The Board of Directors of Amundi met on 25 April 2024 under the chairmanship of Philippe Brassac and approved the financial statements for the first quarter of 2024.

Valérie Baudson, Chief Executive Officer, stated:

“We had a particularly intense start to the year, both in terms of sales momentum and the development according to our strategic priorities. We were able to combine organic and external growth, in line with our 2025 Strategic Ambitions plan.
Our net inflows, which reached +€17 billion, are very balanced across the main client segments, expertise and geographies. This shows the good positioning of our range of solutions, which allows us to respond effectively to the needs of our clients. Our assets under management reached their highest level ever, at more than €2,100bn.
This activity is also reflected in our profitability: the net income1,2 for the first quarter, at €318m, is up +6% year-on-year, driven by the increase of our net management fees and the control of our costs.
Finally, two external growth operations that are significant for our future development mark the beginning of the year. The acquisition of Alpha Associates is now finalised, three months ahead of schedule. Starting in the second quarter, our clients will therefore benefit from new high-performance solutions in the multi-management of private assets. Secondly, the partnership3 with the US manager Victory Capital will strengthen our presence in the United States and our US asset management expertise. It also brings strong value creation for our clients and our shareholders.
These initiatives, combined with our sustained organic investments, are promising for our future business and results.”

1. ^{^} [1] Net income (Group share)
2. ^{^} [2] Adjusted data: excluding amortisation of intangible assets (see note p. 8)