NU Online News Service, Feb. 14, 1:31 p.m. – The AXA Group, Paris, is reporting the equivalent of $66 billion in revenue for 2001, down 14% from revenue of $80 billion for 2000.
AXA presents its results in euros and follows European financial reporting customs. Information about AXA’s profits was not immediately available, and the dollar value of its revenue has been affected by the declining value of the euro versus the dollar.
The dollar figures given here use an exchange rate of 1 euro=88.58 U.S. cents for the 2001 results, and an exchange rate of 1 euro=94.16 cents for the 2000 results, based on exchange-rate data from OANDA Corp., New York.
When expressed in euros, AXA revenue actually increased 5.2%, to 48 billion euros.
At AXA’s life and savings unit, revenue worldwide revenue held steady at $43 billion.