AXA (AXAHY.PK) reported that fiscal 2024 net income increased by 11% to 7.9 billion euros. Underlying earnings increased by 7% to 8.1 billion euros. Underlying earnings per share increased by 8% to 3.59 euros. Gross written premiums & other revenues were at 110 billion euros, up 8%.
Management believes AXA is on track to deliver the main financial targets of Unlock the Future plan: underlying earnings per share growth of 6-8% CAGR target range between 2023 and 2026, underlying return on equity between 14% and 16% between 2024 and 2026, and cumulative organic cash upstream in excess of 21 billion euros for 2024-2026.
A dividend of 2.15 euros per share will be proposed at the Shareholders' Annual General Meeting on April 24, 2025. The dividend is expected to be paid on May 7, 2025.
AXA's Board approved on February 26, 2025, the launch of an annual share buy-back program for up to 1.2 billion euros. AXA intends to cancel all shares repurchased pursuant to this share buy-back program. In addition, AXA anticipates launching a share buy-back of 3.8 billion euros following the expected closing of the sale of AXA Investment Managers to BNP Paribas.
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