Euronext publishes Q2 2021 results
Euronext publishes Q2 2021
results
Q2 2021
strong performance
resulting from organic growth
driven by record
listing and post-trade
activity, and
from the Borsa
Italiana Group acquisition
Amsterdam, Brussels, Dublin, Lisbon,
Milan, Oslo and Paris – 29 July 2021 –
Euronext, the leading pan-European market infrastructure,
today publishes its results for the second quarter of 2021, driven
by robust organic growth thanks to a strong performance in listing
and post-trade businesses and the first consolidation with Borsa
Italiana Group results since its acquisition on 29 April 2021.
-
Revenue and income at
€328.8 million
(+€118.0
million,
+56.0% and +3.5%
like-for-like1):
- Borsa Italiana Group contributed
€89.6 million to revenue for 2 months and 2 days.
- Post-trade revenue grew to €83.4
million (+130.9%), due to the strong performance of the
two Nordic CSDs, Euronext VPS in Norway and VP Securities in
Denmark, and to the consolidation of the Italian CSD, Monte Titoli,
and of the clearing activities of the Italian CCP, CC&G. Net
treasury income generated by CC&G was €9.6 million.
- Trading revenue grew to €112.8
million (+26.1%), primarily driven by the consolidation of Borsa
Italiana capital markets and robust yield. Fixed income trading
revenue increased to €17.3 million, driven by double-digit
growth in MTS cash trading activities.
- Listing revenue grew to €48.2
million (+33.6%), resulting from record listing activity for
equities with 62 new listings, and for ETFs, together with the
continued growth of Euronext Corporate Services, and the
consolidation of the Borsa Italiana Group.
- Advanced Data Services revenue grew
to €46.5 million (+29.7%) due to resilience of core activities and
the consolidation of the Borsa Italiana Group.
- Non-volume related revenue
accounted for 56% of Q2 2021 total revenue (vs. 49% in Q2 2020) and
covered 137% of operating expenses, excluding D&A (vs. 122% in
Q2 2020).
- EBITDA
at €192.9 million
(+€67.5 million,
+53.8%), EBITDA margin at
58.7% (-0.8pts) despite
integration costs; EBITDA
margin like-for-like at
59.2%:
- Operating expenses, excluding
D&A, grew to €135.9 million (+59.3%) as a result of the
consolidation of costs from acquired businesses, for €41.2 million,
and costs related to the integration of the Borsa Italiana Group,
as previously announced.
- VP Securities run-rate cash cost
synergies amounted to €7.6 million at end June 2021, representing
109% of targeted cost synergies.
- Reported
net income, share of the Group, at
€86.6 million
(+5.6%):
- Exceptional items were €26.0
million and net financing expenses were €13.0 million, primarily
related to the Borsa Italiana Group transaction.
- Income tax rate was 29.6%, impacted
by non-deductible exceptional items.
-
Adjusted EPS2
at
€1.43
(+26.8%)3.
Key figures - in €m, unless stated otherwise |
Q2
2021 |
Q2 2020 |
% change |
% change(like-for-like, constant currencies) |
Revenue |
328.8 |
210.7 |
+56.0% |
+3.5% |
Operational expenses excluding D&A |
-135.9 |
-85.3 |
+59.3% |
+5.3% |
EBITDA |
192.9 |
125.4 |
+53.8% |
+2.4% |
EBITDA margin |
58.7% |
59.5% |
-0.8 pts |
-0.7 pts |
Net income, share
of the
Group |
86.6 |
82.1 |
+5.6% |
|
EPS (non-diluted, reported, in €) |
0.88 |
1.08 |
-18.2% |
|
EPS (diluted, reported, in €) |
0.88 |
1.08 |
-18.3% |
|
EPS (non-diluted, adjusted, in €) |
1.43 |
1.13 |
+26.8% |
|
Stéphane Boujnah, Chief Executive Officer and
Chairman of the Managing Board of Euronext, said:
“Euronext reported a solid performance in the
second quarter of 2021 with an EBITDA margin of 58.7% and 26.8%
growth in adjusted EPS. This growth results from robust organic
performance with record listing activity in equities and ETFs, our
fast-growing post-trade business in the Nordics and from the
consolidation of the Borsa Italiana Group since 29 April 2021.
During the second quarter of 2021, Euronext markets welcomed 62 new
equity listings, confirming our position as the leading listing
venue in Europe for growth financing. Borsa Italiana revenue growth
was mainly driven by the remarkable performance of MTS fixed income
activity.During this second quarter of 2021, we achieved the
targeted synergies for VP Securities, only 11 months after closing.
With this new milestone, we have completed, well ahead of schedule,
the integration plan for our recent Nordic acquisitions.Since the
closing of the acquisition of the Borsa Italiana Group, teams
across the core Euronext businesses and the Borsa Italiana Group
are working together with enthusiasm to build the leading
pan-European market infrastructure.We are actively preparing the
announcement of the new Euronext strategic plan, including 2024
Group guidances, which we will release in November 2021.”
Euronext Q2 2021 financial performance
In €m, unless stated otherwiseThe figures in this
document have not been audited or reviewed by our external
auditor. |
Q2 2021 |
Q2 2020 |
% change |
% change(like-for-like, constant currencies) |
Revenue and income |
328.8 |
210.7 |
+56.0% |
+3.5% |
Listing |
48.2 |
36.1 |
+33.6% |
+9.5% |
Trading
revenue |
112.8 |
89.4 |
+26.1% |
-6.0% |
o/w Cash trading |
70.1 |
64.5 |
+8.7% |
-6.7% |
o/w Derivatives trading |
13.1 |
11.0 |
+18.3% |
+0.6% |
o/w Fixed income trading |
17.3 |
0.6 |
+2672.1% |
-28.8% |
o/w Spot FX trading |
5.7 |
6.6 |
-13.5% |
-5.3% |
o/w Power trading |
6.6 |
6.7 |
-0.4% |
-8.8% |
Investor
Services |
2.2 |
1.7 |
+29.8% |
+36.9% |
Advanced Data
Services |
46.5 |
35.8 |
+29.7% |
+1.4% |
Post
Trade |
83.4 |
36.1 |
+130.9% |
+18.5% |
o/w Clearing |
26.6 |
15.6 |
+70.6% |
+20.6% |
o/w Custody, Settlement and other Post-trade |
56.8 |
20.5 |
+176.8% |
+16.9% |
Euronext
Technologies & Other revenue |
22.9 |
11.9 |
+92.8% |
+4.2% |
Net treasury
income through CCP Business |
9.6 |
0.0 |
n/a |
n/a |
Other
income |
1.4 |
-0.2 |
n/a |
n/a |
Transitional revenue |
1.9 |
0.0 |
n/a |
n/a |
Operational expenses excluding D&A |
-135.9 |
-85.3 |
+59.3% |
+5.3% |
o/w Salaries and employee benefits |
-69.4 |
-47.8 |
+45.1% |
+7.6% |
o/w Other expenses |
-66.5 |
-37.5 |
+77.3% |
+2.5% |
EBITDA |
192.9 |
125.4 |
+53.8% |
+2.4% |
EBITDA margin |
58.7% |
59.5% |
-0.8 pts |
-0.7pt |
Depreciation & amortisation |
-30.5 |
-13.6 |
+123.7% |
+1.0% |
Operating profit before exceptional items |
162.4 |
111.8 |
+45.3% |
+2.5% |
Exceptional items |
-26.0 |
-0.3 |
n/a |
|
Operating profit |
136.4 |
111.4 |
+22.4% |
|
Net financing income / (expense) |
-13.0 |
-2.5 |
+414.5% |
|
Results from equity investments |
2.3 |
2.3 |
+1.6% |
|
Profit before
income tax |
125.7 |
111.2 |
+13.1% |
|
Income tax expense |
-37.2 |
-27.9 |
+33.1% |
|
Share of non-controlling interests |
-1.9 |
-1.2 |
+59.4% |
|
Net income, share of the Group |
86.6 |
82.1 |
+5.6% |
|
Reported EPS (€ per share) |
0.88 |
1.08 |
-18.2% |
|
Adjusted EPS (€ per share) |
1.43 |
1.13 |
+26.8% |
|
Revenue
In the second quarter of 2021, Euronext
consolidated revenue and income increased to €328.8 million, up
+56.0%, primarily resulting from (i) organic growth in listing and
post-trade, partially offsetting lower trading revenue compared to
Q2 2020 and (ii) from the consolidation of the Borsa Italiana Group
since 29 April 2021 (2 months and 2 days) and of VP Securities. MTS
fixed income cash trading recorded double digit growth this
quarter. On a like-for-like basis and at constant currencies,
Euronext consolidated revenue and income was up +3.5% in Q2 2021,
at €219.2 million, compared to Q2 2020 which was marked by
high volatility levels.
Non-volume related revenue accounted for 56% of
total Group revenue in Q2 2021, increasing from 49% of total Group
revenue in Q2 2020, reflecting the expanded post-trade business.
The operating cost coverage ratio was at 137% in Q2 2021,
compared to 122% in Q2 2020.
EBITDA
Operational expenses excluding depreciation
& amortisation increased to €135.9 million, up +59.3%,
primarily as a result of the consolidation of the costs from the
Borsa Italiana Group, VP Securities, Ticker and 3Sens for €41.2
million, as well as integration costs. On a like-for-like basis,
operational expenses excluding depreciation & amortisation
increased by +5.3% compared to Q2 2020, primarily reflecting
increased staff costs.
Consequently, EBITDA for the quarter was up at
€192.9 million, representing an EBITDA margin of 58.7%, down -0.8
points compared to Q2 2020, despite integration activity. On a
like-for-like basis, EBITDA for Q2 2021 was up +2.4%, to €129.7
million, and EBITDA margin was 59.2%, down -0.7 points compared to
the same perimeter in Q2 2020.
Net income, share of the
Group
Depreciation and amortisation accounted for
€30.5 million in Q2 2021, up +123.7%, resulting mainly from the
consolidation of the Borsa Italiana Group, including its related
PPA for €9.3 million (for 2 months of consolidation). On a
like-for-like basis, depreciation & amortisation was up +1.0%
compared to Q2 2020 at €14.0 million.
Operating profit before exceptional items was
€162.4 million, a +45.3% increase compared to Q2 2020. On a
like-for-like basis, operating profit before exceptional items was
up +2.5% compared to Q2 2020, at €115.7 million.
€26.0 million of exceptional costs was reported
in Q2 2021, mainly related to the Borsa Italiana Group transaction,
as announced in the 2020 Universal Registration Document.
Net financing expense for Q2 2021 was €13.0
million compared to a net financing expense of €2.5 million in
Q2 2020. This increase primarily results from the costs related to
the financing of the acquisition of the Borsa Italiana Group, as
announced in 2020 Universal Registration Document.
Results from equity investments amounted to €2.3
million in Q2 2021, reflecting the contribution from LCH SA, in
which Euronext owns an 11.1% stake and an interim dividend received
from Sicovam offsetting an impairment. As a reminder, in Q2 2020,
Euronext reported €2.3 million of results from equity investments
solely reflecting the contribution from LCH SA.
Income tax for Q2 2021 was €37.2 million. This
translated into an effective tax rate of 29.6% for the quarter (Q2
2020: €27.9 million and 25.1% respectively), impacted by
non-deductible exceptional costs.
Share of non-controlling interests mainly
relating to the Borsa Italiana Group and Nord Pool amounted to €1.9
million in Q2 2021.
As a result, the reported net income share of
the Group for Q2 2021 increased by +5.6% compared to Q2 2020, to
€86.6 million. This represents a reported EPS of €0.88 basic and
€0.88 fully diluted in Q2 2021, compared to €1.08 basic and €1.08
fully diluted in Q2 20204. The number of shares used was 85,094,834
for the basic calculation and 85,290,349 for the fully diluted
calculation5.
Adjusted EPS is up +26.8% in Q2 2021, at €1.43,
compared to an adjusted EPS of €1.13 in Q2 2020.
In Q2 2021, Euronext reported a net cash flow
from operating activities of -€1.3 million, compared to €80.6
million in Q2 2020, reflecting higher negative changes in working
capital and higher income tax paid.
Q2 2021 Business highlights
Listing
in €m, unless stated otherwise |
Q2 2021 |
Q2 2020 |
% change |
Listing revenue |
48.2 |
36.1 |
+33.6% |
Equity |
21.0 |
15.3 |
+37.0% |
Annual fees |
13.1 |
8.7 |
+51.2% |
Follow-ons |
4.3 |
4.7 |
-8.7% |
IPOs |
3.7 |
2.0 |
+83.0% |
Debts |
9.7 |
9.3 |
+4.1% |
ETFs, Funds & Warrants |
4.6 |
3.0 |
+51.6% |
Corporate Services |
10.4 |
7.9 |
+31.2% |
Elite and Other |
2.4 |
0.4 |
+477.4% |
Money raised |
444,493 |
406,997 |
+9.0% |
Listing revenue was €48.2 million in Q2 2021, an
increase of +33.6% compared to Q2 2020, driven by the strong
performance of Euronext Corporate Services, record activity in
equity listing and positive traction of ESG bond listing. On a
like-for-like basis at constant currencies, listing revenue
increased by +9.5% compared to Q2 2020. Euronext confirmed its
position as the leading listing venue position in Europe, with 103
listings in H1 2021, 62 out which took place in Q2 2021.
The second quarter of 2021 saw the strong
primary equity listing dynamic continue, with 62 new listings on
Euronext, including three large company listings (Allfunds, Aramis
and Believe) and eight SPACs. In addition, Euronext continued to
demonstrate its strong value proposition for innovative companies
with a majority of listings by tech companies. In Q2 2021, €7.1
billion was raised on Euronext primary markets, and doubled,
compared to €3.5 billion in Q2 2020.
Euronext was the leading exchange in Europe for
the listing of ETFs, for the second quarter in a row.
Secondary markets reported a solid second
quarter of 2021, with €32.0 billion raised in secondary equity
issues, compared to €16.4 billion in Q2 2020.
Debt listing activity was solid in Q2 2021,
notably supported by the continued momentum in ESG bond listing. In
Q2 2021, €405.4 billion in debt was raised on Euronext’s markets,
compared to €387.1 billion in Q2 2020.
In total, €444.5 billion in equity and debt was
raised on Euronext’s markets in Q2 2021, compared to €407.0 billion
in Q2 2020.
Euronext Corporate Services reported a strong
performance, generating €10.4 million in revenue in Q2 2021, up
+31.2% compared to €7.9 million in Q2 2020. This performance
results from continued commercial development and an enhanced
digital offering meeting high demand for digital solutions.
Trading
in €m, unless stated otherwise |
Q2 2021 |
Q2 2020 |
% change |
Trading revenue |
112.8 |
89.4 |
+26.1% |
Cash trading revenue |
70.1 |
64.5 |
+8.7% |
ADV Cash market |
11,255 |
12,397 |
-9.2% |
|
|
|
|
Derivatives trading revenue |
13.1 |
11.0 |
+18.3% |
ADV Derivatives market (in lots) |
766,134 |
803,823 |
-4.7% |
|
|
|
|
Fixed income trading
revenue6 |
17.3 |
0.6 |
+2672.1% |
ADV MTS Cash |
26,530 |
13,469 |
+97.0% |
TAADV MTS
Repo |
278,023 |
377,007 |
-26.3% |
ADV other
fixed income |
960 |
1,541 |
-37.7% |
|
|
|
|
Spot FX trading revenue |
5.7 |
6.6 |
-13.5% |
ADV spot FX Market (in USDm) |
18,617 |
20,629 |
-9.8% |
|
|
|
|
Power trading revenue |
6.6 |
6.7 |
-0.4% |
ADV Day-ahead power market (in TWH) |
2.17 |
2.32 |
-6.3% |
ADV Intraday
power market (in TWH) |
0.07 |
0.07 |
+10.2% |
Trading revenue on a reported basis (Q2 2020 excludes Borsa
Italiana Group revenue). All trading volumes data on a pro forma
basis to include the Borsa Italiana Group trading activities. 2020
data has been restated accordingly
Cash trading revenue increased by +8.7% to €70.1
million in Q2 2021 as a result of the consolidation of the cash
trading activities of Borsa Italiana and robust yield, offsetting
lower trading volumes compared to Q2 2020 which recorded
exceptional trading conditions. During the second quarter of 2021,
on a pro forma basis, the cash market recorded average daily
volumes of €11.3 billion, down -9.2% compared to Q2 2020, which was
exceptionally volatile.
Excluding Borsa Italiana cash markets, Euronext
market share remained strong during the second quarter of 2021,
averaging 68.3%.
Excluding Borsa Italiana cash trading
activities, Euronext yield was 0.57 bps in the second quarter of
2021. On a pro forma basis and considering the full second quarter
of 2021 for Borsa Italiana, the average yield was 0.52 bps.
On a like-for-like basis at constant currencies,
cash trading revenue was down -6.7% in Q2 2021 compared to Q2
2020.
Derivatives trading revenue increased by +18.3%
to €13.1 million in Q2 2021 as a result of the consolidation of
Borsa Italiana derivatives trading activities and of a record
second quarter for commodity derivatives trading. During the second
quarter of 2021, on a pro forma basis, average daily volumes on
financial derivatives was 691,458 lots, down -7.9% from Q2 2020,
reflecting lower volatility and average daily volumes on commodity
derivatives was 74,676 lots, up +41.3% from Q2 2020 reflecting
successful geographical and client expansions.
Excluding Borsa Italiana derivatives trading
activities, Euronext revenue capture on derivatives trading was
€0.26 per lot. On a pro forma basis and considering the full second
quarter of 2021 for Borsa Italiana, the average revenue capture was
€0.28 per lot.
On a like-for-like basis at constant currencies,
derivatives trading revenue was up +0.6% in Q2 2021 compared to Q2
2020.
Fixed income trading reported revenue at €17.3
million in Q2 2021, compared to €0.6 million in Q2 2020, resulting
from the consolidation of MTS for 2 months and 2 days. On a
like-for-like basis at constant currencies, fixed income trading
revenue (solely Euronext perimeter) was down -28.8% in Q2 2021
compared to Q2 2020.
For 2 months and 2 days of consolidation in Q2
2021, MTS Cash generated €12.5 million in revenue and MTS Repo
generated €3.2 million in revenue. For the full second quarter of
2021, on a like-for-like basis at constant currencies, MTS Cash
reported revenue growth of +52.2% while MTS Repo reported a revenue
decrease of -1.6% reflecting lower trading volumes. The strong
MTS performance reflects the positive momentum in cash bonds
trading supported by greater adoption of electronic trading
solutions across products as well as steady volumes of issuances
and stimulus to support the European economy.
FX trading reported revenue at €5.7 million in
Q2 2021, down -13.5% from Q2 2020, reflecting lower FX trading
volumes in a low volatility environment. Over the second quarter of
2021, US$18.6 billion average daily volumes were recorded, down
-9.8% compared to Q2 2020.
On a like-for-like basis at constant currencies,
Spot FX trading revenue was down -5.3% in Q2 2021 compared to Q2
2020.
Power trading reported €6.6 million in revenue
in Q2 2021, stable compared to Q2 2020 as lower trading volumes
were offset by foreign exchange impact. Over the second quarter of
2021, average daily day-ahead power traded was 2.17TWh, down -6.3%
compared to Q2 2020, and average daily intraday power traded was
0.07TWh, up +10.2% compared to Q2 2020.
On a like-for-like basis at constant currencies,
power trading revenue was down -8.8% compared to Q2 2020.
Investor Services
Investor Services reported revenue up +29.8% to
€2.2 million in Q2 2021 reflecting its continued commercial
development.
On a like-for-like basis at constant currencies,
Investor Services revenue was up +36.9% compared to Q2 2020.
Advanced Data
Services
Advanced Data Services revenue was €46.5 million
in Q2 2021, up +29.7% from Q2 2020, driven by a resilient market
data business and the consolidation of the various Borsa Italiana
Group data activities.
On a like-for-like basis at constant currencies,
Advanced Data Services revenue was up +1.4% compared to Q2
2020.
Post
Trade
in €m, unless
stated otherwise |
Q2 2021 |
Q2 2020 |
% var |
Post-trade revenue and income |
93.0 |
36.1 |
+157.4% |
Clearing |
26.6 |
15.6 |
+70.6% |
Revenue from LCH SA |
18.8 |
15.6 |
+20.6% |
Revenue from CC&G |
7.8 |
- |
n/a |
Net treasury
income through CCP business |
9.6 |
- |
n/a |
Custody,
Settlement and other Post-trade |
56.8 |
20.5 |
+176.8% |
Clearing revenue was up +70.6% to €26.6 million
in Q2 2021, as a result of higher clearing revenue and treasury
income received from LCH SA and the consolidation of CC&G
activities and. In Q2 2021, for 2 months and 2 days of
consolidation, CC&G revenue included €1.0 million from
derivatives clearing, €3.0 million from equities clearing, €1.4
million from bonds clearing and €2.4 million of other revenue.
For the full second quarter of 2021, on a
like-for-like basis at constant currencies, CC&G reported
stable revenue compared to Q2 2020.
On a like-for-like basis at constant currencies,
clearing revenue was up +20.6% compared to Q2 2020.
Net treasury income through the CCP business of
CC&G was €9.6 million in Q2 2021.
- Custody,
Settlement and other Post-trade
Custody, Settlement and other Post-trade
revenue, encompassing the activities of the Euronext CSDs
(Interbolsa, Euronext VPS, VP Securities, Monte Titoli), was €56.8
million in Q2 2021, up +176.8% from Q2 2020, as a result of the
strong performance of the two Nordic CSDs, Euronext VPS in
Norway and VP Securities in Denmark, and the consolidation of the
Italian CSD, Monte Titoli. This performance includes
€13.5 million of revenue contribution from Monte Titoli (for 2
months and 2 days of consolidation) and €19.4 million of revenue
contribution from VP Securities.
On a pro forma basis, the four CSDs operated by
Euronext reported 33.1 million of settlement instructions during
the second quarter of 2021 and the total asset under custody at the
end of June 2021 was €6.3 trillion.
On a like-for-like basis at constant currencies,
Custody, Settlement and other Post-trade revenue was up +16.9%
compared to Q2 2020.
Euronext Technologies and other
revenue
Euronext Technologies and other revenue was
€22.9 million in Q2 2021, up +92.8% from Q2 2020 as a result of the
consolidation of the technology businesses of the Borsa Italiana
Group, including Gatelab and X2M and of strong SFTI/Colocation
revenue.
On a like-for-like basis at constant currencies,
Euronext Technologies and Other revenue was up +4.2% compared to Q2
2020.
Corporate highlights of Q2 2021 since
publication of the
Q1 2021 results
on 29 April 2021
Euronext launched its share capital
increase by way of a rights offer of approximately €1.8bn as part
of the Financing of the Acquisition of
Borsa Italiana
Following the announcement of a binding
agreement with London Stock Exchange Group plc and London Stock
Exchange Group Holdings (Italy) Limited (the “Seller”) to
acquire the entire issued share capital of London Stock Exchange
Group Holdings Italia SPA, the holding company of the Borsa
Italiana Group (the “Combination”) on 9 October 2020, the
announcement of the completion of the Combination and of a reserved
capital increase by way of a private placement (the “Private
Placement”) to CDP Equity and Intesa Sanpaolo on 29 April 2021,
Euronext announced on 30 April 2021, the launch of a rights offer
for an amount of approximately €1.8bn (including share
premium).
The Offer was part of a total equity financing
package of approximately ~€2.4bn that also included the Private
Placement with total proceeds of ~€0.6bn. Euronext used the net
proceeds of the Offer to repay a portion of the bridge facilities
which were used to fund the cash consideration payable to the
Seller.
Placement of Euronext Ex-Right Shares in
the Context of the Announced Rights
Offer
On 30 April 2021, Euronext was informed of the
successful completion of a placement of ex-right shares in Euronext
by two of its main shareholders, Euroclear SA/NV and Société
Fédérale de Participations et d’Investissement/Federale
Participatie- en Investeringsmaatschappij (“SFPI-FPIM”). This
transaction aimed at financing their subscription to the Euronext
rights offer announced on 29 April 2021.
As indicated in the Rights Offer documentation,
Euroclear and SFPI-FPIM intended to participate in the Rights Offer
in a cash neutral transaction by selling part of their shares
and/or rights in order to raise sufficient cash proceeds (less
costs and expenses and any taxes arising on such sales) to cover
the cost of taking up rights in the Rights Offer exclusively with
the proceeds of the placement. Both have committed to Euronext to
apply those net proceeds to subscribe and pay for offer shares in
the Rights Offer by exercising rights granted to them.
After the settlement and delivery of the Rights
Offer, Euroclear SA/NV and SFPI-FPIM own respectively 5.6% and 3.2%
of the Euronext share capital and continue to be part of the
Reference Shareholder group, and remain committed to support the
long-term growth strategy of Euronext.
In connection with the Rights Offer, Euroclear
SA/NV and SFPI-FPIM have undertaken that, subject to certain
exceptions, that they will not dispose of any Euronext shares for a
period ending 90 days after the settlement of the Rights Offer.
Successful launch of a
€1.8 billion bond issue
On 7 May 2021, Euronext announced that it had
successfully priced a three-tranche senior bond offering
representing a total amount of €1.8bn.
The bonds were admitted to trading on the
regulated market of Euronext Dublin as of 17 May 2021 and are rated
BBB by S&P. As well as on other electronic trading platforms,
the 5, 10 and 20-year bonds are available for trading on the MTS
BondVision and MTS BondsPro venues, which are part of the Euronext
product suite following the acquisition of Borsa Italiana Group.
The bonds were settled through VP Securities, Euronext’s Danish
CSD.
The main features of the issue are as
follows:
- Tranche 1: 5-year
bond worth €600 million (maturing on 17 May 2026), with an annual
coupon of 0.125% (ISIN: DK0030485271)
- Tranche 2: 10-year
bond worth €600 million (maturing on 17 May 2031), with an annual
coupon of 0.750% (ISIN: DK0030486402)
- Tranche 3: 20-year
bond worth €600 million (maturing on 17 May 2041), with an annual
coupon of 1.500% (ISIN: DK0030486592)
The final order book reached an amount of c. €5
billion and was more than 2.7 times oversubscribed. The success of
this transaction illustrates investors' strong confidence in
Euronext’s growth ambitions, strategy and solid credit profile.
The offering allowed Euronext to extend its
maturity profile and further diversify its debt investor base.
The net proceeds of the issue were used to
partially refinance the acquisition of the Borsa Italiana Group,
completed on 29 April 2021 for a final consideration of €4,444
million8.
Euronext 2021 Annual
General Meeting
The 2021 Euronext Annual General Meeting was
held on 11 May 2021. All items on the agenda were approved. Items
on the Annual General Meeting agenda and related information can be
found at:
https://www.euronext.com/en/investor-relations/financial-calendar/annual-general-meeting-11052021
Euronext announces the sale of Oslo
Market Solutions
On 4 June 2021, Euronext announced that it had
completed the sale of Oslo Market Solutions (“OMS”) to Infront, a
leading European provider of financial market solutions. OMS is an
online market data, investor relations, portfolio and trading
solutions provider in the Nordic region and was acquired in 2019 as
part of the acquisition of Oslo Børs VPS. OMS generated c. €3.3
million of revenue in 2020.
Based on Euronext’s 2020 full-year results, the
sale of OMS would account for an increase of c.+0.2 pts to Euronext
EBITDA margin. This will translate in 2021 as an additional cost
reduction compared to the mid-single digit decrease in operating
costs excluding D&A expected in 2021.
Corporate highlights since 30 June 2021
Half-year statement of the liquidity
contract of Euronext NV
Euronext announced on 6 July 2021 that the
transactions carried out under the liquidity contract entered
between Euronext NV and Rothschild Martin Maurel for the period
ending 30 June 2021 resulted in the following assets appearing in
the liquidity account:
- 2,850 Euronext NV
shares
- 7,362,291
euros
- Number of Buy
transaction over the period: 5,865
- Number of Sell
transaction over the period: 5,958
- Volume traded
relating to Buy transactions over the period: 447,315 shares for
39,220,040 euros
- Volume traded
relating to Sell transactions over the period: 444,465 shares for
38,892,428 euros
As a reminder, on 31 December 2020, the
following resources were allocated to the liquidity account:
- 0 Euronext NV
shares
- 7,669,989
euros
Agenda
A conference call and
a webcast will be held on 30 July 2021, at 09.00am CEST (Paris
time) / 08.00am BST (London time):
Conference
call:
To connect to the conference call, please
dial:
UK
Number: |
+44 33 0551
0200 |
NO
Number: |
+47 2 156
3318 |
FR
Number: |
+33 1 70 37 71
66 |
PT
Number: |
+351 3 0880
2081 |
NL
Number: |
+31 20 708
5073 |
IR
Number: |
+353 1 436
0959 |
US
Number: |
+1 212 999
6659 |
IT Number: |
+39 06
83360400 |
BE
Number: |
+32 2 789
8603 |
|
|
Password:
Euronext
Live
webcast:
To view the live webcast go to: Link to
webcast
The webcast will be available for replay after
the call at the webcast link and on Euronext’s Investor Relations
webpage at www.euronext.com/investors
CONTACTS
INVESTOR RELATIONS: |
|
|
Aurélie Cohen –
Chief Communications and Investor Relations Officer |
+33 1 70 48 24
17 |
ir@euronext.com |
Clément Kubiak –
Investor Relations Manager |
+33 1 70 48 24
33 |
|
CONTACTS
MEDIA: |
|
|
Aurélie Cohen -
Chief Communications and Investor Relations Officer |
+33 1 70 48 24
45 |
mediateam@euronext.com |
About Euronext Euronext is the
leading pan-European market infrastructure, connecting local
economies to global capital markets, to accelerate innovation and
sustainable growth. It operates regulated exchanges in Belgium,
France, Ireland, Italy, the Netherlands, Norway and Portugal. With
close to 1,900 listed issuers worth €6.4 trillion in market
capitalisation as of end June 2021, it has an unmatched blue chip
franchise and a strong diverse domestic and international client
base. Euronext operates regulated and transparent equity and
derivatives markets, one of Europe’s leading electronic fixed
income trading markets and is the largest centre for debt and funds
listings in the world. Its total product offering includes
Equities, FX, Exchange Traded Funds, Warrants & Certificates,
Bonds, Derivatives, Commodities and Indices. Euronext also
leverages its expertise in running markets by providing technology
and managed services to third parties. In addition to its main
regulated market, it also operates a number of junior markets,
simplifying access to listing for SMEs. Euronext provides custody
and settlement services through central securities depositories in
Denmark, Italy, Norway and Portugal.
For the latest news, go to euronext.com or follow us on Twitter
(twitter.com/euronext) and LinkedIn (linkedin.com/euronext).
DisclaimerThis press release is
for information purposes only: it is not a recommendation to engage
in investment activities and is provided “as is”, without
representation or warranty of any kind. While all reasonable care
has been taken to ensure the accuracy of the content, Euronext does
not guarantee its accuracy or completeness. Euronext will not be
held liable for any loss or damages of any nature ensuing from
using, trusting or acting on information provided. No information
set out or referred to in this publication may be regarded as
creating any right or obligation. The creation of rights and
obligations in respect of financial products that are traded on the
exchanges operated by Euronext’s subsidiaries shall depend solely
on the applicable rules of the market operator. All proprietary
rights and interest in or connected with this publication shall
vest in Euronext. This press release speaks only as of this date.
Euronext refers to Euronext N.V. and its affiliates. Information
regarding trademarks and intellectual property rights of Euronext
is available at www.euronext.com/terms-use.
© 2021, Euronext N.V. - All rights
reserved.
The Euronext Group processes your personal data
in order to provide you with information about Euronext (the
"Purpose"). With regard to the processing of this personal data,
Euronext will comply with its obligations under Regulation (EU)
2016/679 of the European Parliament and Council of 27 April 2016
(General Data Protection Regulation, “GDPR”), and any applicable
national laws, rules and regulations implementing the GDPR, as
provided in its privacy statement available at:
www.euronext.com/privacy-policy. In accordance with the applicable
legislation you have rights with regard to the processing of your
personal data: for more information on your rights, please refer
to: www.euronext.com/data_subjects_rights_request_information. To
make a request regarding the processing of your data or to
unsubscribe from this press release service, please use our data
subject request form at
connect2.euronext.com/form/data-subjects-rights-request or email
our Data Protection Officer at dpo@euronext.com.
Appendix
Non-IFRS financial measures
For comparative purposes, the company provides
unaudited non-IFRS measures including:
- Operational
expenses excluding depreciation and amortisation
- EBITDA, EBITDA
margin.
- Non-IFRS measures
are defined as follows:
- Operational
expenses excluding depreciation and amortisation as the total of
salary and employee benefits, and other operational expenses
- EBITDA as the
operating profit before exceptional items and depreciation and
amortisation
- EBITDA margin as
the operating profit before exceptional items and depreciation and
amortisation, divided by total revenue and income.
Non-IFRS financial measures are not meant to be
considered in isolation or as a substitute for comparable IFRS
measures and should be read only in conjunction with the
consolidated financial statements.
Adjusted EPS definition
In €m unless stated otherwise |
Q2 2021 |
Q2 2020 |
Net income reported |
86.6 |
82.1 |
EPS Reported (€ per share) |
0.88 |
1.08 |
Intangible assets adj. related to acquisitions (PPA) |
15.7 |
4.8 |
Exceptional
items |
26.0 |
0.3 |
Impairment |
4.3 |
|
Exceptional
financing expense |
8.9 |
|
Tax related to those items |
6.9 |
1.1 |
Adj. net income |
134.7 |
86.0 |
Adj. EPS (€ per
share) |
1.43 |
1.13 |
Consolidated income
statement
unaudited, in
€m |
Q2 2021 |
Q2 2020 |
% var |
% var l-f-l |
Total Revenues and
Income |
328.8 |
210.7 |
+56.0% |
+3.5% |
Listing |
48.2 |
36.1 |
+33.6% |
+9.5% |
Trading
revenue, of which |
112.8 |
89.4 |
+26.1% |
-6.0% |
Cash Trading |
70.1 |
64.5 |
+8.7% |
-6.7% |
Derivatives Trading |
13.1 |
11.0 |
+18.3% |
+0.6% |
Fixed Income Trading |
17.3 |
0.6 |
+2672.1% |
-28.8% |
FX Trading |
5.7 |
6.6 |
-13.5% |
-5.3% |
Power Trading |
6.6 |
6.7 |
-0.4% |
-8.8% |
Investor
Services |
2.2 |
1.7 |
+29.8% |
+36.9% |
Advanced Data
Services |
46.5 |
35.8 |
+29.7% |
+1.4% |
Post-trade, of
which |
83.4 |
36.1 |
+130.9% |
+18.5% |
Clearing |
26.6 |
15.6 |
+70.6% |
+20.6% |
Custody and Settlement |
56.8 |
20.5 |
+176.8% |
+16.9% |
Market
Solutions & other revenue |
22.9 |
11.9 |
+92.8% |
+4.2% |
NTI through
CCP business |
9.6 |
- |
n/a |
n/a |
Other
income |
1.4 |
(0.2) |
n/a |
n/a |
Transitional
revenues |
1.9 |
- |
n/a |
n/a |
|
|
|
|
|
Operating expenses exc. D&A |
(135.9) |
(85.3) |
+59.3% |
+5.3% |
Salaries and
employee benefits |
(69.4) |
(47.8) |
+45.1% |
+7.6% |
Other
Operational Expenses, of which |
(66.5) |
(37.5) |
+77.3% |
+2.5% |
System & Communication |
(22.8) |
(8.5) |
+168.1% |
+17.6% |
Professional Services |
(20.3) |
(12.4) |
+64.0% |
-2.6% |
Clearing expenses |
(8.7) |
(8.1) |
+6.8% |
+6.7% |
Accommodation |
(2.4) |
(1.3) |
+79.3% |
+18.1% |
Other Operational Expenses |
(12.4) |
(7.2) |
+72.1% |
-13.8% |
|
|
|
|
|
EBITDA |
192.9 |
125.4 |
+53.8% |
+2.4% |
EBITDA
margin |
58.7% |
59.5% |
-0.8pt |
-0.7pt |
|
|
|
|
+1.0% |
Depreciation
& Amortisation |
(30.5) |
(13.6) |
+123.7% |
+4.7% |
Operating Profit before Exceptional items |
162.4 |
111.8 |
+45.3% |
+2.5% |
|
|
|
|
|
Exceptional
items |
(26.0) |
(0.3) |
+7462.1% |
|
Operating Profit |
136.4 |
111.4 |
+22.4% |
|
Net financing income / (expense) |
(13.0) |
(2.5) |
+414.5% |
|
Results from
equity investments |
2.3 |
2.3 |
+1.6% |
|
Profit before
income tax |
125.7 |
111.2 |
+13.1% |
|
Income tax
expense |
(37.2) |
(27.9) |
+33.1% |
|
Minority
interests |
(1.9) |
(1.2) |
+59.4% |
|
Profit for the period |
86.6 |
82.1 |
+5.6% |
|
|
|
|
|
|
EPS (basic, reported, in
€) |
0.88 |
1.08 |
-18.2% |
|
EPS (diluted,
reported, in €) |
0.88 |
1.08 |
-18.3% |
|
EPS (basic, adjusted, in
€) |
1.43 |
1.13 |
+26.8% |
|
The figures in this document have not been
audited or reviewed by our external auditor
Consolidated comprehensive income
statement
|
|
|
In €m unless
stated otherwise |
Q2
2021 |
Q2
2020 |
Profit for the period |
88.6 |
83.3 |
|
|
|
Other comprehensive
income |
|
|
Items that may be reclassified to profit or loss: |
|
|
– Exchange
differences on translation of foreign operations |
(16.5) |
39.6 |
– Change in
value of debt investments at fair value through other comprehensive
income |
(0.1) |
- |
– Income tax
impact on exchange differences on translation of foreign
operations |
1.9 |
(3.6) |
– Income tax
impact on change in value of debt investments at fair value through
other comprehensive income |
0.0 |
- |
|
|
|
Items that will not be reclassified to profit or loss: |
|
|
– Change in
value of equity investments at fair value through other
comprehensive income |
3.6 |
1.8 |
– Income tax
impact on change in value of equity investments at fair value
through other comprehensive income |
(0.7) |
(0.3) |
–
Remeasurements of post-employment benefit obligations |
3.4 |
(1.1) |
– Income tax
impact on remeasurements of post-employment benefit
obligations |
(0.4) |
0.3 |
Other
comprehensive income for the period, net of tax |
(8.8) |
36.7 |
Total
comprehensive income for the period |
79.8 |
119.9 |
|
|
|
Comprehensive income attributable to: |
|
|
– Owners of
the parent |
78.1 |
117.9 |
–
Non-controlling interests |
1.7 |
2.1 |
The figures in this document have not been
audited or reviewed by our external auditor.
Consolidated balance sheet
unaudited, in
€m |
As at 30/06/21 |
As at 31/03/21 |
Non-current
assets |
|
|
Property,
plant and equipment |
78.7 |
56.4 |
Right-of-use
assets |
72.5 |
43.0 |
Goodwill and
other intangible assets |
6,125.0 |
1,568.4 |
Deferred
income tax assets |
33.1 |
21.5 |
Investments in
associates and JV |
71.8 |
70.7 |
Financial
assets at fair value through OCI |
258.4 |
204.5 |
Other non
current assets |
3.8 |
7.5 |
Total
non-current assets |
6,643.2 |
1,972.0 |
|
|
|
Current assets |
|
|
Trade and
other receivables |
381.4 |
299.0 |
Income tax
receivable |
11.1 |
2.9 |
Derivative
financial instruments |
18.3 |
23.7 |
CCP clearing
business assets |
132,243.9 |
- |
Other
short-term financial assets |
161.4 |
104.0 |
Cash &
cash equivalents |
620.5 |
759.2 |
Total current
assets |
133,436.6 |
1,188.8 |
|
|
|
Total assets |
140,079.7 |
3,160.7 |
|
|
|
Equity |
|
|
Shareholders'
equity |
3,441.8 |
1,148.4 |
Non-controlling interests |
81.1 |
21.6 |
Total
Equity |
3,522.8 |
1,170.0 |
|
|
|
Non-current
liabilities |
|
|
Borrowings |
3,049.2 |
1,272.6 |
Lease
liabilities |
53.5 |
31.9 |
Deferred
income tax liabilities |
534.1 |
99.8 |
Post
employment benefits |
31.0 |
27.2 |
Contract
liabilities |
64.2 |
48.5 |
Other
provisions |
10.5 |
13.0 |
Other
non-current liabilities |
- |
0.0 |
Total
Non-current
liabilities |
3,742.6 |
1,493.0 |
|
|
|
Current liabilities |
|
|
Borrowings |
83.4 |
12.6 |
Lease
liabilities |
24.2 |
16.3 |
Derivative
financial instruments |
0.0 |
0.0 |
CCP clearing
business liabilities |
132,219.1 |
- |
Income tax
payable |
51.3 |
44.8 |
Trade and
other payables |
323.4 |
308.0 |
Contract
liabilities |
108.3 |
111.8 |
Other
provisions |
4.6 |
4.1 |
Total Current
liabilities |
132,814.3 |
497.7 |
|
|
|
Total equity and
liabilities |
140,079.7 |
3,160.7 |
The figures in this document have not been
audited or reviewed by our external auditor.
Consolidated statement of cash
flows
unaudited, in
€m |
Q2 2021 |
Q2 2020 |
Profit before
tax |
125.7 |
111.2 |
Adjustments
for: |
|
|
- Depreciation
and amortization |
30.5 |
13.6 |
- Share based
payments |
2.5 |
2.5 |
- Share of profit
from associates and joint ventures |
1.1 |
(2.3) |
- Changes in
working capital |
(83.5) |
(19.0) |
|
|
|
Cash flow from operating activities |
76.2 |
106.0 |
Income tax
paid |
(77.5) |
(25.4) |
Net cash flows from operating activities |
(1.3) |
80.6 |
|
|
|
Cash flow from investing activities |
|
|
Acquisition of
subsidiaries, net of cash acquired |
(4,127.2) |
(1.5) |
Proceeds from
disposal of subsidiary |
2.6 |
- |
Purchase of
current financial assets |
(17.4) |
(13.9) |
Redemption of
current financial assets |
31.9 |
3.0 |
Purchase of
property, plant and equipment |
(2.3) |
(0.7) |
Purchase of
intangible assets |
(8.9) |
(1.2) |
Proceeds from
sale of Property, plant, equipment and intangible assets |
(0.1) |
0.0 |
Dividends
received from equity investments |
3.4 |
- |
|
|
|
Net cash flow from investing activities |
(4,118.0) |
(14.4) |
|
|
|
Cash flow from financing activities |
|
|
Proceeds from
borrowings, net of transaction fees |
5,472.8 |
255.7 |
Repayment of
borrowings, net of transaction fees |
(3,682.9) |
- |
Interest
paid |
(15.1) |
(10.7) |
Interest
received |
5.0 |
4.9 |
Share capital
repayment |
2,373.4 |
- |
Payment of lease
liabilities |
(5.7) |
(5.1) |
Acquisition of
own shares |
(0.1) |
0.6 |
Employee Share
transactions |
(3.8) |
(1.8) |
Dividends paid to
the company's shareholders |
(157.2) |
(110.6) |
Dividends paid to
non-controlling interests |
(2.5) |
(4.4) |
|
|
|
Net cash flow from financing activities |
3,984.0 |
128.5 |
|
|
|
Total cash flow over the period |
(135.3) |
194.8 |
Cash and cash
equivalents - Beginning of period |
759.2 |
418.8 |
Non Cash exchange
gains/(losses) on cash and cash equivalents |
(3.3) |
8.8 |
Cash and cash equivalents - End of period |
620.5 |
622.3 |
The figures in this document have not been
audited or reviewed by our external auditor.
Volumes for the second
quarter of 2021
|
Q2
2021 |
Q2
2020 |
%
var |
Number of
trading days |
63 |
62 |
|
Number of transactions (buy and sells) (inc. reported
trades) |
|
|
Total cash
market |
209,001,506 |
239,575,974 |
-12.8% |
ADV cash
market |
3,317,484 |
3,864,129 |
-14.1% |
Transaction value (€ million, single counted) |
|
|
|
Total cash
market |
709,089 |
768,591 |
-7.7% |
ADV cash
market |
11,255 |
12,397 |
-9.2% |
|
|
|
|
Listings |
|
|
|
Number
of issuers on equities |
|
|
|
Euronext |
1,897 |
1,795 |
+5.7% |
o/w SMEs |
1,517 |
1,403 |
+8.1% |
Number of listed
securities |
|
|
|
Bonds |
3,846 |
4,752 |
-19.1% |
ETFs |
3,084 |
2,568 |
+20.1% |
Funds |
52,363 |
52,265 |
+0.2% |
|
|
|
|
Capital raised on primary and secondary
market |
|
|
|
Total
Euronext (in €m excepted for number of new listings) |
|
|
|
Number of new
equity listings |
62 |
14 |
|
Money Raised -
New equity listings (incl over allotment) |
7,105 |
3,547 |
+100.3% |
Money Raised -
Follow-ons on equities |
32,005 |
16,359 |
+95.6% |
Money Raised -
Bonds |
405,383 |
387,090 |
+4.7% |
Total Money
Raised |
444,493 |
406,997 |
+9.2% |
|
|
|
|
of
which SMEs (in €m excepted for number of new
listings) |
|
|
|
Number of new
equity listings |
58 |
12 |
|
Money Raised -
New equity listings (incl over allotment) |
4,253 |
389 |
+993.3% |
Money Raised -
Follow-ons on equities |
7,137 |
1,301 |
+448.6% |
Money Raised -
Bonds |
863 |
16 |
+5293.8% |
Total Money
Raised |
12,253 |
1,705 |
+618.7% |
|
Q2
2021 |
Q2
2020 |
%
var |
Transaction value (€ million, single counted) |
|
|
|
MTS |
|
|
|
ADV MTS
Cash |
26,530 |
13,469 |
+97.0% |
TAADV MTS
Repo |
278,023 |
377,007 |
-26.3% |
OTHER
FIXED INCOME |
|
|
|
ADV Fixed
income |
960 |
1,541 |
-37.7% |
|
Q2
2021 |
Q2
2020 |
%
var |
Number of
trading days |
65 |
65 |
|
FX volume ($m, single counted) |
|
|
|
Total Euronext
FX |
1,210,108 |
1,340,895 |
-9.8% |
ADV Euronext
FX |
18,617 |
20,629 |
-9.8% |
|
Q2
2021 |
Q2
2020 |
%
var |
Number of
trading days |
91 |
91 |
|
Power volume (in TWh) |
|
|
|
ADV Day-ahead
Power Market |
2.17 |
2.32 |
-6.3% |
ADV Intraday
Power Market |
0.07 |
0.07 |
+10.2% |
|
Q2
2021 |
Q2
2020 |
%
var |
Number of
trading days |
63 |
62 |
|
Derivatives Volume (in lots) |
|
|
|
|
|
|
|
Equity |
43,561,859 |
46,209,430 |
-5.7% |
Index |
13,841,692 |
14,674,350 |
-5.7% |
Futures |
9,592,820 |
9,900,901 |
-3.1% |
Options |
4,248,872 |
4,773,449 |
-11.0% |
Individual Equity |
29,720,167 |
31,535,080 |
-5.8% |
Futures |
9,139,611 |
13,579,326 |
-32.7% |
Options |
20,580,556 |
17,955,754 |
+14.6% |
|
|
|
|
TM Derivatives |
0 |
350,984 |
|
Futures |
0 |
350,984 |
|
Options |
0 |
0 |
|
|
|
|
|
Commodity |
4,704,593 |
3,276,581 |
+43.6% |
Futures |
4,231,502 |
2,961,719 |
+42.9% |
Options |
473,091 |
314,862 |
+50.3% |
|
|
|
|
Total Euronext |
48,266,452 |
49,836,995 |
-3.2% |
Total Futures |
22,963,933 |
26,792,930 |
-14.3% |
Total Options |
25,302,519 |
23,044,065 |
+9.8% |
|
|
|
|
Derivatives ADV (in lots) |
|
|
|
|
|
|
|
Equity |
691,458 |
745,313 |
-7.2% |
Index |
219,709 |
236,683 |
-7.2% |
Futures |
152,267 |
159,692 |
-4.6% |
Options |
67,442 |
76,991 |
-12.4% |
Individual Equity |
471,749 |
508,630 |
-7.3% |
Futures |
145,073 |
219,021 |
-33.8% |
Options |
326,675 |
289,609 |
+12.8% |
|
|
|
|
TM Derivatives |
0 |
5,661 |
|
Futures |
0 |
5,661 |
|
Options |
0 |
0 |
|
|
|
|
|
Commodity |
74,676 |
52,848 |
+41.3% |
Futures |
67,167 |
47,770 |
+40.6% |
Options |
7,509 |
5,078 |
+47.9% |
|
|
|
|
Total Euronext |
766,134 |
803,823 |
-4.7% |
Total Futures |
364,507 |
432,144 |
-15.7% |
Total Options |
401,627 |
371,678 |
+8.1% |
-
Derivatives open interest12
|
Q2 2021 |
Q2 2020 |
% var |
Open interest (in
lots) |
|
|
|
|
|
|
|
Equity |
22,348,637 |
22,376,822 |
-0.1% |
Index |
1,570,320 |
1,996,550 |
-21.3% |
Futures |
738,527 |
878,025 |
-15.9% |
Options |
831,793 |
1,118,525 |
-25.6% |
Individual Equity |
20,778,317 |
20,380,272 |
+2.0% |
Futures |
2,059,049 |
1,379,339 |
+49.3% |
Options |
18,719,268 |
19,000,933 |
-1.5% |
|
|
|
|
TM Derivatives |
0 |
191,811 |
|
Futures |
0 |
191,811 |
|
Options |
0 |
0 |
|
|
|
|
|
Commodity |
74,676 |
52,848 |
+41.3% |
Futures |
67,167 |
47,770 |
+40.6% |
Options |
7,509 |
5,078 |
+47.9% |
|
|
|
|
Total Euronext |
23,337,312 |
23,346,398 |
-0.0% |
Total Futures |
3,481,121 |
2,958,357 |
+17.7% |
Total Options |
19,856,191 |
20,388,041 |
-2.6% |
1 Like for like revenue at constant currencies
exclude in Q2 2020 and Q2 2021 VP Securities, the Borsa Italiana
Group, 3Sens, Ticker, OMS and Centevo as well as related
integration costs2 Definition in
appendix3 Weighted average number of shares at
85,094,834 for H1 2021, H1 2020 outstanding shares adjusted for the
rights issue to 76,121,437 sharesUnless specified otherwise,
percentages refer to Q2 2021 data compared to Q2 2020
data4 Number of outstanding shares used in 2020
adjusted for the rights issue to factor in the bonus element at
76,121,437 shares5 Number of outstanding shares
used to compute H1 2021 EPS6 Prior to the
acquisition of the Borsa Italiana Group, Euronext fixed income
trading revenue was included in cash trading revenue. Data for Q2
2020 has been restated accordingly. Prior to the acquisition of the
Borsa Italiana Group, Euronext fixed income trading revenue was
included into cash trading revenue. Data for Q2 2020 was restated
accordingly.
8 Including additional amount reflecting the
cash generated since 30 June 2020 and share of W&I insurance
borne by London Stock Exchange Group plc9 Q2 2021
data is published on a pro forma basis to include the trading
activities of the Borsa Italiana Group. Q2 2020 data has been
restated accordingly.10 Cash Market includes
shares, warrants, ETFs. Following the acquisition of the Borsa
Italiana Group, Euronext fixed income trading activity is now
reported under Fixed income markets. 2020 data has been restated
accordingly11Q2 2021 data is published on a pro
forma basis to include the trading activities of the Borsa Italiana
Group. Q2 2020 data has been restated
accordingly.12 Q2 2021 data is published on a pro
forma basis to include the trading activities of the Borsa Italiana
Group. Q2 2020 data has been restated accordingly.
- 20210729_ENX_Q22021_PR VFinale
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