Natixis Q3 2017 earnings results
The third quarter 2017 of Natixis was strong, fueled by strong contribution from Asset Management and Insurance businesses. Q3 2017 net revenues reached €2.2 billion, up 6% relative to Q3 2016, and our net income (group share) climbed 16% to €411 million. Natixis posted net revenues of €7.05 billion during the first nine months of 2017, a 10% increase compared to the year-earlier period. Net revenues from the Investment Solutions business (which includes Asset Management, Insurance and Private Banking) amounted to €940 million during Q3 2017, 17% higher than in Q3 2016, and 12% in 9M 2017 to reach €2.750 billion. Return on equity reached 15.2% during the same period.
In Asset Management, Natixis had net revenues of €716 million during Q3 2017 vs. €609 million during Q3 2016, up 18% or (21% at constant exchange rates). For 9M 2017 vs. 9M 2016, net revenues were up 12%. Revenues in the United States for Q3 2017 were €393 million, up 6% year over year. In Europe, revenues were €228 million, up sharply (40%) year over year. Expenses rose 13% in Q3 2017 and 8% in 9M 2017, relative to the respective year-earlier periods. €5 billion in long-term net inflows during Q3 2017 were mainly concentrated in Europe (€4 billion) in high value-added products in the alternative, active equity and real assets space. The total net new money for Q3 2017 was €3 billion with negative €2 billion in money market fund outflows.
Overall, assets under management as of September 30, 2017 totaled €813.1 billion ($961.1 billion), compared to €798.1 billion ($897 billion) at the end of Q3 2016. During the quarter, positive market effects (impact of a positive €13 billion) offset negative exchange-rate movements (impact of -€14 billion). In the United States, assets under management were $477 billion as of September 30, 2017, and in Europe, assets reached €402 billion with assets in the Private Equity Division being €7.6 billion ($8.9 billion).
Source : Natixis et Natixis Global Asset Management
Natixis Global Asset Management S.A.
RCS Paris 453 952 681
Share Capital: €178 251 690
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