Axa realizes a net profit of 5,6 billion euros in 2015, an increase of 3% at unchanged exchange rates compared to 2014. Practically the same figure (5,57 billion) is the figure for the operating profit which reaches its highest level ever and allows the board of directors to propose a dividend of 1,10 euro per share, with an increase of 16% compared to last year, for a payout ratio of 47%: the figure establishes the new guidance of the group.
The numbers were presented in a conference call by the chairman and group CEO, Henry of Castries, who also spoke about Italy and Axa's investments in our country. First of all, Mps: de Castries confirmed his intention to remain a shareholder (3,2%) and reaffirmed his trust "in the management team led by Viola", which he acknowledges having "made considerable reorganization efforts, which will bear fruit and will be recognized by the market”. The CEO however, it does not exclude a further commitment in Italy, but the moves will be conditioned by the choice of a "right partner". More generally, de Castries recalled the successful closure of the Ambition Axa plan, "which made the group more resilient, efficient and agile".
Going back to the numbers, the total revenue increased by 1%, to 99 billion euros (always at constant exchange rate). Operating cash flow amounted to 5,8 billion, up 300 million compared to 2014. In terms of solvency, Axa improved its figure by 4% reaching 205%: for the calculation of Solvency II, the company uses a internal model. As regards the life business, net inflows were positive for €9,6 billion, of which a large portion (€5,9 billion) deriving from the protection and health business mainly in France, Japan and Hong Kong, from unit-linked units in the United Kingdom , of Germany and again of France.
The revenues of the damage branch they increased by 1% to 31,3 billion euros, with an operating result decreasing by 1% to 2,2 billion. The combined ratio of the non-life business improved by 0,6 percentage points to 96,2%.
