Amundi Investor Presentation
Quaterly and nine-month income statements
Q3 2021
Q2 2021
var. Q3/Q2
Q3 2020
var. Q3/Q3
9M 2021
9M 2020
Var. 9M/9M
in € million
Adjusted net revenue
Net asset management revenue
o/w net management fees
o/w performance fees
Net financial income and other net income
791
849
-6,9%
630
25,7%
2410
1 866
29,2%
797
844
-5,6%
631
26,4%
2416
1912
26,4%
707
689
2,6%
601
17,6%
2 059
1 806
14,1%
90
155
-41,9%
30
356
106
(6)
5
(1)
(5)
(46)
NS
Operating expenses
Adjusted gross operating income
1
(383)
(388)
-1,5%
(323)
18,6%
(1 147)
(971)
18,1%
409
461
-11,4%
307
33,1%
1 264
895
41,2%
Adjusted cost/income ratio
Cost of risk & other*
Equity-accounted entities
Adjusted income before taxes
Taxes
Non controlling interest
48,4%
45,7%
2,6 pts
51,2%
-2,9 pts
47,6%
52,0%
-4,5 pts
7
(18)
(3)
(13)
(20)
NS
25
25
21
20,5%
17
47,7%
63
46
37,9%
1
440
464
-5,1%
321
37,0%
1 313
921
42,7%
(108)
(120)
-9,6%
(86)
26,2%
(331)
(247)
34,2%
1
1
-18,5%
(0)
5
(0)
Adjusted net income, Group share
333
345
-3,6%
235
41,5%
987
674
46,5%
Amortization of distribution contracts after tax
(12)
(12)
0,0%
(15)
-16,3%
(37)
(40)
-7,6%
Impact of Affrancamento*
0
114
0
114
Net income, Group share including Affrancamento
321
448
-28,4%
221
45,3%
1 065
634
67,9%
*Net accounting income for Q2 and 9M 2021 includes a one-time tax gain (net of a substitution fee) of +€114m (no cash flow impact): "Affrancamento" mechanism
under the 2021 Italian Budget Law (Law no. 178/2020), resulting in the recognition of Deferred Tax Assets on intangible assets (goodwill); this was excluded from
Adjusted Net Income.
1. Adjusted data: excluding amortisation of the distribution contracts and, in Q2 and 9M 2021, excluding Affrancamento. See slides 28-29 for definitions and methodology
2- The cost of risk (+€7m) takes into account the adjustment to provisions for regulatory risks
33 | Amundi Investor Presentation - November 2021
Amundi
CRÉDIT AGRICOLE GROUPView entire presentation