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Axa SA H1 Net Income Falls; Revenues Down 2% - Quick Facts

Axa SA (AXAHY.PK) reported first half net income of 1.43 billion euros, down 39% from a year ago. Net income per share was 0.56 euros compared to 0.92 euros. Underlying earnings were 1.89 billion euros, a decline of 48%. Underlying earnings per share was 0.75 euros compared to 1.46 euros. Adjusted earnings per share was 0.79 euros compared to 1.62 euros.

First half total revenues were down 2% to 52.4 billion euros. Total revenues were down 2%, reflecting strong growth in the first quarter (up 4%) and a decline in the second quarter (down 10%) in the context of Covid-19.

AXA re-affirmed its current best estimate for the impact on 2020 underlying earnings for the Group from Covid-19 related P&C claims and solidarity measures at 1.5 billion euros. In the context of the material estimated impact from Covid-19 on underlying earnings in 2020, AXA's management has withdrawn its Ambition 2020 underlying earnings per share.

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