Financial Data

Well-established in Western Europe, North American and Asia/Pacific markets, the Group intends to reinforce its growth in the years ahead by intensifying its presence in high-growth markets.

Revenues

Total revenues were stable on a comparable basis, at Euro 98,549 million. The growth in the United States, International and at AXA IM was offset by lower revenues in Europe and Asia.

(in millions of Euro)

Net Income

Net Income was up 8% to Euro 6.2 billion, mainly driven by a strong increase in adjusted earnings and significantly lower restructuring costs, partly offset by a less favorable impact from exceptional and discontinued operations.

(in millions of Euro)

Underlying Earnings

Underlying Earnings increased by 7% to Euro 6.0 billion with growth in all geographies.

(in millions of Euro)

Solvency II ratio

Solvency II ratio was at 205%, up 8 points versus December 31, 2016, mainly driven by a strong operating return, partly offset by the dividend to be proposed by the Board of Directors, a net reduction in subordinated debt and the share buyback program.

(percentage)

Revenues by geographic region

Direct business revenues are split within geographies
Direct business revenues are split within geographies

Underlying earnings before tax by business segment

*FY15 figures are restated following the sale of the UK Life & Savings business

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Headcount & Profile of Employees

The footprint of AXA’s overall salaried workforce on December 31, 2017 was: 59.1% of salaried workforce in Europe, 21.8% in Asia-Pacific & Middle East, 14.3% in the Americas and 4.8% in Africa.
117K salaried workforce (open-ended & fixed-term contract, non-sales & sales)

62 countries

Employees by category of salaried workforce (open-ended contract only, excluding exclusive distributors)

53% Women
in salaried workforce (open-ended contract only)
47% Men
in salaried workforce (open-ended contract only)
40.9
Average age of salaried workforce (open-ended contract only)
10.8
Average length of service of salaried workforce (open-ended contract only)

Workforce Dynamics

AXA continued to recruit in 2017 and hired more than 16,500 employees on open-ended contracts (excluding entries due to mergers and acquisitions), of which almost 3,450 were sales employees.
17K Entries

of which 14,803 External recruitments, 1,731 Fixed-term contracts transformed into open-ended contracts, and 232 Entries following mergers and acquisitions

19K Exits

of which 11,084 Resignations, 4,313 Layoffs, 1,573 Departures due to external transfers, and 1,972 Other types of departures

Turnover rate
14.3% Non-sales force
(open-ended contract only)
22.3% Salaried sales force
(open-ended contract only)
Mobility at AXA
10.5% Internal Mobility
of salaried workforce (open-ended contract only)
788 International assignments
representing a decrease of 14% compared to 2016

Compensation

In 2017, total compensation cost amounted to €8.5 billion corresponds to a decrease of 1.6% compared to 2016. On a constant foreign exchange rate basis, total compensation cost increased by 0.2%. Detailed information concerning AXA’s compensation policy is provided in Section 3.2 of the present Annual Report.

Compensation cost per continent of salaried workforce (open-ended contract only)
Compensation cost per continent of salaried workforce (open-ended contract only)

Breakdown of Annual gross payroll of salaried workforce (open-ended contract only)

76%
Proportion of fixed pay

24%
Proportion of variable pay

Learning & Development

AXA focuses on delivering global learning experiences to foster a self-learning organization, leveraging on the latest approaches and technologies. The results of AXA's development of employees skills remained high with 84.2% of its employees receiving a training course at least once during 2017. At the same time, the average number of training days per employee was at 3.1 days..
84.2% Salaried workforce having received at least one training course (open-ended only)

330K Total number of training days (or equivalent) of salaried workforce (open-ended contract only)

3.1
Average number of training days per salaried workforce (open-ended contract only)
2.5
Average number of training days per salaried non-sales force (open-ended contract only)
6.6
Average number of training days per salaried sales force (open-ended contract only)

Breakdown of total number of training days by type of training of salaried non-sales force (open-ended contract only)

Breakdown of total number of training days by type of training of salaried sales force (open-ended contract only)

Absenteeism

In 2017, the absenteeism rate slightly increased to 4.7%, as well as the sick absence rate at 3.3%. As AXA operates in an environment that generates business through management of capital and financial services (total absenteeism rate due to work-related accidents is 0.1%), the Group does not monitor gravity, severity nor frequency of work-related accidents on a global level.

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