Financials Amundi

Equities

AMUN

FR0004125920

Investment Management & Fund Operators

Real-time Euronext Paris Other stock markets 06:20:24 16/01/2026 pm IST			5-day change	1st Jan Change
75.30 ^EUR	+0.67%		+1.01%	+6.73%

08/01	Peace Was Cheaper
08/01	The "next move" is causing some tension in the financial markets

Projected Income Statement: Amundi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,595	3,204	3,137	3,204	3,497	3,366	3,448	3,531
Change	-	23.47%	-2.09%	2.14%	9.14%	-3.76%	2.45%	2.42%
EBITDA ¹	1,257	1,667	-	-	1,743	1,658	1,730	1,762
Change	-	32.53%	-	-	-	-4.86%	4.31%	1.86%
EBIT ¹	1,255	1,670	1,466	1,498	1,660	1,609	1,663	1,680
Change	-	33.07%	-12.22%	2.18%	10.81%	-3.08%	3.39%	0.99%
Interest Paid	-50.37	-51.09	-54.73	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,224	1,658	1,403	1,511	1,668	1,776	1,832	1,838
Change	-	35.46%	-15.38%	7.7%	10.39%	6.45%	3.16%	0.32%
Net income ¹	910	1,369	1,074	1,165	1,305	1,527	1,442	1,447
Change	-	50.44%	-21.55%	8.47%	12.02%	17.02%	-5.59%	0.34%
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	04/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2
Net sales ¹	630	730	770	849	791	794	835	754	758	790	794	823	780	806	824	887	862	924	912	790	815	850.1	846.3	863.7	875.7	905	893.1	916.9
Change	-	15.87%	5.48%	10.26%	-6.83%	0.38%	5.16%	-9.7%	0.53%	4.22%	0.51%	3.65%	-5.22%	3.33%	2.23%	7.65%	-2.82%	7.19%	-1.3%	-13.38%	3.16%	4.31%	-0.44%	2.05%	1.39%	3.34%	-1.31%	2.66%
EBITDA ¹	300.7	354.7	-	-	409.3	421.3	-	340.3	349.3	-	-	-	-	-	-	-	405	464	-	-	296	405	422.8	435	426.3	459.5	450.1	470.9
Change	-	17.96%	-	-	-	2.93%	-	-	2.64%	-	-	-	-	-	-	-	-	14.57%	-	-	10.31%	36.81%	4.42%	2.87%	-1.99%	7.78%	-2.04%	4.62%
EBIT ¹	307	360	394	461	409	406	412	332	343	378	369	393	356	381	385	426	406	443	434	374	379	412.2	415.9	428.1	419.4	452.6	443.2	464
Change	-	17.26%	9.44%	17.01%	-11.28%	-0.73%	1.48%	-19.42%	3.31%	10.2%	-2.38%	6.5%	-9.41%	7.02%	1.05%	10.65%	-4.69%	9.11%	-2.03%	-13.82%	1.34%	8.76%	0.91%	2.92%	-2.02%	7.91%	-2.07%	4.69%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	301	359	393	447	423	396	-	292	337	375	370	398	356	387	393	431	413	431	429	811	327	479.5	469	482.2	474.6	508.9	500.6	522.5
Change	-	19.27%	9.47%	13.74%	-5.37%	-6.38%	-	-	15.41%	11.28%	-1.33%	7.57%	-10.55%	8.71%	1.55%	9.67%	-4.18%	4.36%	-0.46%	89.04%	-59.68%	46.63%	-2.18%	2.81%	-1.57%	7.22%	-1.63%	4.38%
Net income ¹	221	275	297	448	321	304	302	224	261	286	285	305	276	299	303	333	320	349	283	715	249	326.3	358.7	368.6	363.4	388.7	382.9	399.2
Change	-	24.43%	8%	50.84%	-28.35%	-5.3%	-0.66%	-25.83%	16.52%	9.58%	-0.35%	7.02%	-9.51%	8.33%	1.34%	9.9%	-3.9%	9.06%	-18.91%	152.65%	-65.17%	31.03%	9.94%	2.76%	-1.42%	6.96%	-1.48%	4.26%
Announcement Date	30/10/20	10/02/21	29/04/21	30/07/21	04/11/21	09/02/22	29/04/22	29/07/22	28/10/22	08/02/23	28/04/23	28/07/23	27/10/23	07/02/24	26/04/24	26/07/24	30/10/24	04/02/25	29/04/25	29/07/25	28/10/25	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2022 S2
Net sales ¹	1,619	1,589	1,548
Change	-	-1.85%	-2.58%
EBITDA	-	-	-
Change	-	-	-
EBIT ¹	-	744	722
Change	-	-	-2.96%
Charge d'intérêts	-	-	-
Earnings before Tax (EBT)	-	-	-
Change	-	-	-
Net income ¹	744	527	547
Change	-	-29.17%	3.8%
Announcement Date	30/07/21	29/07/22	08/02/23

¹EUR in Million

Estimates

Forecast Balance Sheet: Amundi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	3,272	1,170	-	1,376	663	-1,078	-1,372	-1,784
Change	-	-64.24%	-	-	-51.82%	-262.62%	-27.27%	-30.03%
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	04/02/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Amundi

Fiscal Period: December	2020	2021	2023	2024	2025	2026	2027
CAPEX ¹	56.41	47.32	53.43	68.65	74.76	77.89	79.14
Change	-	-16.11%	-	28.48%	8.9%	4.2%	1.6%
Free Cash Flow (FCF) ¹	1,208	1,908	1,490	1,522	1,304	1,400	1,422
Change	-	57.96%	-	2.13%	-14.31%	7.36%	1.57%
Announcement Date	10/02/21	09/02/22	07/02/24	04/02/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Amundi

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	48.46%	52.01%	-	-	49.84%	49.27%	50.17%	49.89%
EBIT Margin (%)	48.36%	52.12%	46.73%	46.75%	47.47%	47.8%	48.24%	47.57%
EBT Margin (%)	47.17%	51.75%	44.72%	47.16%	47.7%	52.76%	53.13%	52.04%
Net margin (%)	35.07%	42.73%	34.24%	36.36%	37.32%	45.38%	41.82%	40.97%
FCF margin (%)	46.54%	59.54%	-	46.51%	43.51%	38.75%	40.6%	40.27%
FCF / Net Income (%)	132.72%	139.36%	-	127.9%	116.6%	85.39%	97.1%	98.28%
Profitability
ROA	3.42%	4.76%	-	3.6%	3.51%	3.34%	3.42%	3.35%
ROE	9.78%	13.45%	-	10.4%	11.17%	10.85%	11.43%	11.65%
Financial Health
Leverage (Debt/EBITDA)	2.6x	0.7x	-	-	0.38x	-	-	-
Debt / Free cash flow	2.71x	0.61x	-	0.92x	0.44x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.17%	1.48%	-	1.67%	1.96%	2.22%	2.26%	2.24%
CAPEX / EBITDA (%)	4.49%	2.84%	-	-	3.94%	4.51%	4.5%	4.49%
CAPEX / FCF (%)	4.67%	2.48%	-	3.59%	4.51%	5.73%	5.56%	5.57%
Items per share
Cash flow per share ¹	6.252	9.641	-	7.558	7.766	7.068	7.811	6.98
Change	-	54.22%	-	-	2.75%	-8.98%	10.51%	-10.64%
Dividend per Share ¹	2.9	4.1	4.1	4.1	4.25	4.338	4.616	4.815
Change	-	41.38%	0%	0%	3.66%	2.07%	6.41%	4.31%
Book Value Per Share ¹	47.94	52.61	-	55.9	59	62.04	65.07	68.32
Change	-	9.73%	-	-	5.56%	5.14%	4.89%	4.99%
EPS ¹	4.5	6.75	5.28	5.71	6.37	7.444	7.125	7.184
Change	-	50%	-21.78%	8.14%	11.56%	16.86%	-4.28%	0.83%
Nbr of stocks (in thousands)	2,01,362	2,02,433	2,03,604	2,03,350	2,04,461	2,03,768	2,03,768	2,03,768
Announcement Date	10/02/21	09/02/22	08/02/23	07/02/24	04/02/25	-	-	-