EDIT: Retracted, see point below (misunderstood the linked data). Thanks for pointing this out!
I’m not sure I completely understand the full accounting shown in your link to the AMF page, but from what I get the example you gave looks misplaced:
Indeed, 2023 seemed to have marked a reduction by more than 50% of the incoming funds, but the two years prior to that show substantial increases (and before that another drop; maybe CoViD-related?); moreover, 2024 seems to become again a year of strong increase (already at 50% of 2023 funds in YTD). Maybe I’m misunderstanding something here, but at least this example seems to be in contradiction to the general pessimistic outlook in the first two paragraphs of your answer.
Note that the page says > Our financial year runs from 1st July to 30th June, i.e. FY 2024 is 1st July 2023 to 30th June 2024. so the “YTD 2024” numbers are for almost eight months, not two, and accordingly it looks like FY 2024 will have similar total revenue to FY 2023 (and substantially less than FY 2021 and FY 2022).
EDIT: Retracted, see point below (misunderstood the linked data). Thanks for pointing this out!
I’m not sure I completely understand the full accounting shown in your link to the AMF page, but from what I get the example you gave looks misplaced: Indeed, 2023 seemed to have marked a reduction by more than 50% of the incoming funds, but the two years prior to that show substantial increases (and before that another drop; maybe CoViD-related?); moreover, 2024 seems to become again a year of strong increase (already at 50% of 2023 funds in YTD). Maybe I’m misunderstanding something here, but at least this example seems to be in contradiction to the general pessimistic outlook in the first two paragraphs of your answer.
Note that the page says
> Our financial year runs from 1st July to 30th June, i.e. FY 2024 is 1st July 2023 to 30th June 2024.
so the “YTD 2024” numbers are for almost eight months, not two, and accordingly it looks like FY 2024 will have similar total revenue to FY 2023 (and substantially less than FY 2021 and FY 2022).
Fair point, thanks!