Amundi’s adjusted profit rises 20.2% to €409 million in the third quarter
Key Facts
Amundi reported a 20.2% year-on-year increase in adjusted net income in the third quarter of 2026 to €409 million, as adjusted revenue grew 11.3% to €908 million. The company said net management fees rose 13.1%, while net flows totaled €45.6 billion during the quarter, excluding transfers of an institutional mandate in India. The company’s board reviewed the results at its meeting held on October 28, 2026, covering the third quarter and the first nine months of the year. The figures show simultaneous growth in income, fees and the assets managed by the group. The official disclosure did not establish that profit or revenue exceeded analyst estimates.
Adjusted earnings per share were €2.04 in the third quarter, compared with €1.65 in the corresponding period of 2025, an increase of 23.2%. For the first nine months of 2026, adjusted net income reached €1.189 billion, up 21.6% on a like-for-like basis. Chief Executive Officer Valérie Baudson said strong flows contributed to adjusted net income growth of more than 20% in both the third quarter and the nine-month period. Baudson linked this performance to the diversity of the business and its strong financial position, saying they bolster the company’s confidence in its growth opportunities. The nine-month performance places the quarterly result within a sustained annual growth trajectory in adjusted income.
The company recorded net flows of €102 billion in the first nine months of the year, excluding transfers of the Indian mandate. In the third quarter, total flows were affected by transfers of €39.1 billion linked to an institutional mandate in India, while net flows excluding them were €45.6 billion. The company broke down the sources of flows into €21 billion from retail and €20 billion from institutional clients. Northern Europe alone recorded net flows of €18 billion during the quarter. These figures show that flows spanned different client channels and geographic activities, with Indian transfers having a material effect on the overall figure.
Assets under management stood at €2,579 billion on September 30, up 11% year on year and broadly stable compared with the previous quarter. Amundi attributed the growth in management fees to continued flows and higher assets. In active management, net flows accelerated to €14 billion, driven mainly by fixed income and multi-asset products. ETF funds recorded net flows of €17 billion in the third quarter, while assets on the ETF platform reached €432 billion at the end of September. The distribution of flows between active management and ETF funds shows the breadth of their sources within the group’s business.
Net management fees rose to €845 million in the third quarter, up 13.1% from the corresponding period a year earlier. Performance fees, by contrast, fell to €20 million from €33 million a year earlier, a 41% year-on-year decline. The comparison reflects divergent trends in two revenue components: growth in fees linked to asset management versus a decline in performance-related fees. Total adjusted revenue was €908 million, up 11.3% year on year. These figures put the growth in net management fees at the forefront of the revenue components reported in the disclosure.
On the distribution front, Amundi extended its partnership with Banco Sabadell by a further five years, through 2035. The company also completed a €500 million share buyback program in September. Baudson said the diversity of the group’s business and its strong financial position support her confidence in its growth opportunities, alongside the flows that accompanied the increase in adjusted income. Amundi shares closed at €89.3 on October 28, 2026, according to EL7 data. This reflects the closing price on that day, while details of business performance are based on the results reviewed by the board.