AXA to Hold Today in Paris Its Investor Conference on Ambition 2012
November 13 2007 - 8:46AM
PR Newswire (US)
PARIS, Nov. 13 /PRNewswire-FirstCall/ -- AXA will host today, at
2pm Paris time, an investor conference which will cover the Group's
progress in the achievement of its Ambition 2012 project. Ambition
2012 is a company project aiming at mobilizing all employees around
the objective of becoming the preferred company in the industry.
The project includes long term financial targets, notably doubling
revenues and trebling the Group's underlying earnings per share(1)
between 2004 and 2012. AXA's Management Board members will present
the Group's strategy and give an update on identified key
transversal initiatives being undertaken as part of Ambition 2012,
namely: -- Distribution management: multidistribution driving
growth and competitiveness. -- Offer innovation: creating worldwide
momentum on variable annuities. -- Combining business efficiency
and quality of service. -- Financial optimization: delivering on
2012 financial targets. -- Ambition 2012 strategy and targets for
the Northern, Central and Eastern Europe region. As part of this
presentation, the Management Board will confirm the Group's 2007
and 2008 outlook stating that: In 2007, underlying EPS(1) should
grow in line with Ambition 2012 targets. -- There is no evidence
that business volumes are impacted by the current market
environment, based on 9M07 numbers. -- The impact on 2007 net
income of ABS market value decrease should be more than offset by
the capital gain on the disposal of the Dutch operations (Euro 0.4
billion). -- Lower interest rates levels since June 30, 2007 should
have a positive impact on unrealized capital gains on bonds, partly
offsetting the balance sheet impact of lower market value of the
ABS portfolio. -- The strengthening of the Euro versus most
currencies should have no material impact in 2007. In 2008,
underlying EPS(2) should grow at high single / low double digit
rate, in spite of the strength of the Euro impacting the
translation of non- Euro earnings. Regarding Ambition 2012, AXA's
Management Board will also confirm the following: -- AXA's focus on
employee engagement and customer centricity is expected to yield a
superior organic growth. -- Selective acquisitions are expected to
gradually improve the Group's growth profile. -- As evidenced in
the NORCEE presentation, AXA is expected to gain market share and
at the same time achieve increased profitability. In spite of
current market turbulence, AXA remains confident in its ability to
achieve Ambition 2012. The full presentation will be available
today at 1:30pm Paris time, on http://www.axa.com/ The live webcast
of the investor presentation will start today at 2pm, Paris time,
and will be available on:
http://www.axa.com/en/investor/presentations A replay will be
available on our website from Wednesday November 14th in the
afternoon. This press release is available on the AXA Group web
site: http://www.axa.com/ About AXA AXA Group is a worldwide leader
in Financial Protection. AXA's operations are diverse
geographically, with major operations in Europe, North America and
the Asia/Pacific area. IFRS revenues amounted to Euro 79 billion in
FY06 (Euro 51 billion at 1H07) and IFRS adjusted earnings amounted
to Euro 5,140 million in FY06 (Euro 3,424 million at 1H07). The AXA
ordinary share is listed and trades under the symbol AXA on the
Paris Stock Exchange. The AXA American Depository Share is also
listed on the NYSE under the ticker symbol AXA. AXA Investor
Relations Etienne Bouas-Laurent: +33.1.40.75.46.85 Paul-Antoine
Cristofari: +33.1.40.75.73.60 Emmanuel Touzeau: +33.1.40.75.49.05
George Guerrero: +1.212.314.28.93 AXA Media Relations Christophe
Dufraux: +33.1.40.75.46.74 Clara Rodrigo: +33.1.40.75.47.22 Laurent
Secheret: +33.1.40.75.48.17 Armelle Vercken: +33.1.40.75.46.42 Mary
Taylor: +1.212.314.58.45 AXA DISCLAIMER Certain statements
contained herein are forward-looking statements including, but not
limited to, statements that are predications of or indicate future
events, trends, plans or objectives. Undue reliance should not be
placed on such statements because, by their nature, they are
subject to known and unknown risks and uncertainties. Please refer
to AXA's Annual Report on Form 20-F and AXA's Document de Reference
for the year ended December 31, 2006, for a description of certain
important factors, risks and uncertainties that may affect AXA's
business. In particular, please refer to the section "Special Note
Regarding Forward- Looking Statements" in AXA's Annual Report on
Form 20-F. AXA undertakes no obligation to publicly update or
revise any of these forward-looking statements, whether to reflect
new information, future events or circumstances or otherwise. (1)
Net of interest charges on perpetual subordinated debt (TSS and
TSDI) which are accounted for as equity under IFRS (2) Net of
interest charges on perpetual subordinated debt (TSS and TSDI)
which are accounted for as equity under IFRS DATASOURCE: AXA
CONTACT: AXA Investor Relations, Etienne Bouas-Laurent,
+33-1-40-75-46-85, or Paul-Antoine Cristofari, +33-1-40-75-73-60,
or Emmanuel Touzeau, +33-1-40-75-49-05, or George Guerrero,
+1-212-314-2893; or AXA Media Relations, Christophe Dufraux,
+33-1-40-75-46-74, or Clara Rodrigo, +33-1-40-75-47-22, or Laurent
Secheret, +33-1-40-75-48-17, or Armelle Vercken, +33-1-40-75-46-42,
or Mary Taylor, +1-212-314-5845 Web site: http://www.axa.com/
http://www.axa.com/en/investor/presentations
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