Euronext publishes Q2 2024 results
|
Contacts Media |
Contact Investor Relations |
| Amsterdam |
+31 20 721
4133 |
Brussels |
+32 2 620 15
50 |
+33 1 70 48 24
27 |
| Dublin |
+39 02 72 42 62
13 |
Lisbon |
+351 210 600
614 |
|
| Milan |
+39 02 72 42 62
12 |
Oslo |
+47 41 69 59
10 |
|
| Paris |
+33 1 70 48 24
45 |
|
|
|
Euronext publishes Q2 2024 results
Euronext’s diversified business model
continues to drive strong topline growth.
Amsterdam, Brussels, Dublin, Lisbon,
Milan, Oslo and Paris – 25 July 2024 – Euronext,
the leading pan-European market infrastructure, today
publishes its results for the second quarter 2024.
- Q2 2024 revenue and income
was up +12.2% at €412.9 million:
- Strong performance of non-volume
related revenue representing 58% of total revenue and income
(compared to 61% in Q2 2023, reflecting the strong dynamic of
trading and clearing in Q2 2024) and covering 153% of underlying
operating expenses, excluding D&A1 (vs. 148% in Q2
2023):
- Custody and Settlement revenue grew
to €69.7 million (+9.4%), driven by growing assets under custody,
dynamic issuance activities and higher settlement activity;
- Advanced Data Services revenue grew
to €60.0 million (+5.4%), driven by continued demand for
fixed-income and power trading data, commercial expansion of the
analytic products offering and dynamic non-professional usage;
- Listing revenue grew to €58.4
million (+5.9%), driven by the strong performance of Euronext
Corporate Services and dynamic debt listing activity. Euronext
sustained its leading position for equity listing in Europe and for
debt listing globally;
- Technology Solutions reported €25.4
million of revenue (-7.0%), primarily reflecting the termination of
double-run connectivity revenues following the migration of Italian
markets to Optiq®, passing on synergies to clients.
- Trading revenue grew to €142.7
million (+20.7%), driven by good trading dynamics in fixed income
and across most asset classes (equity, power, commodity
derivatives, and FX). Fixed income trading revenue reached another
record at €35.6 million (+40.7%), driven by strong volatility.
- Clearing revenue grew to €39.2
million (+33.2%), thanks to the additional business captured by
Euronext Clearing following its expansion for European equities in
Q4 2023. The activity was supported by dynamic fixed income
clearing activity. Net treasury income for Euronext Clearing was
stable at €13.8 million.
- Underlying operating
expenses excluding D&A1
were €156.1 million (+2.7%), in line with the 2024
underlying cost guidance.
- Adjusted
EBITDA1 was €256.8
million (+18.8%) and adjusted EBITDA margin was 62.2%
(+3.5pts).
- Adjusted net
income1 was €165.2
million (+15.6%) and adjusted EPS was €1.59 (+19.0%).
- Reported net income was
€141.7 million (+18.2%).
- Net debt to
EBITDA2 was at 1.8x at
the end of June 2024, impacted by the dividend payment and closing
of the GRSS acquisition.
- Key
figures for the second quarter of 2024:
|
In €m, unless stated otherwise |
Q2 2024 |
Q2 2023 |
% var |
% var l-f-l3 |
|
Revenue and income |
412.9 |
368.1 |
+12.2% |
+11.9% |
|
Underlying operational expenses excluding D&A2 |
(156.1) |
(152.0) |
+2.7% |
+2.4% |
|
Adjusted EBITDA |
256.8 |
216.1 |
+18.8% |
+18.5% |
|
Adjusted EBITDA margin |
62.2% |
58.7% |
+3.5pts |
+3.5pts |
|
Net income, share of the parent company shareholders |
141.7 |
120.0 |
+18.2% |
|
|
Adjusted net income, share of the parent company
shareholders |
165.2 |
142.9 |
+15.6% |
|
|
Adjusted EPS (basic, in€) (share count differs
between the two periods) |
1.59 |
1.34 |
+19.0% |
|
|
Reported EPS (basic, in€) (share count differs between the two
periods) |
1.37 |
1.12 |
+21.7% |
|
|
Adjusted EPS (diluted, in€) (share count differs between the
two periods) |
1.59 |
1.34 |
+19.0% |
|
|
Reported EPS (diluted, in€) (share count differs between the
two periods) |
1.36 |
1.12 |
+21.6% |
|
The figures in this document have not been
audited or reviewed by our external auditor
Entering the last phase of the Borsa Italiana Group
integration:
- €84.2
million of cumulated run-rate annual EBITDA synergies were
achieved at end of June 2024.
€5.2 million run-rate annual EBITDA synergies were delivered in Q2
2024.
- €109.1 million
cumulated implementation costs have been incurred since the
acquisition of the Borsa Italiana Group, of which €3.2 million were
incurred during Q2 2024. Euronext now expects the
total cumulated implementation costs until the end of 2024 to
reduce to €130 million. This is €20 million lower than the €150
million guided in May 2022, and €30 million lower than the €160
million announced in November 2021.
- Euronext has
successfully concluded the migration of the MTS Production Data
Centre to Bergamo. This strategic move enables customers to access
MTS Markets’ Trading and Data services through the same facilities
as all Euronext trading venues, thereby enhancing efficiencies in
European capital markets. Members furthermore benefit from reduced
latency, maximum safety and a reduction of their carbon footprint
thanks to the facility’s 100% use of renewable energy.
-
Euronext successfully migrated the clearing of its commodity
derivatives to Euronext Clearing in July 2024, completing the first
phase of its derivatives clearing migration. The second and final
phase, the migration of financial derivatives, will take place in
September 2024.
- Continued bolt-on
acquisitions to diversify Euronext’s business model
On 3 June 2024, Euronext completed the
acquisition of the leading provider of services to benchmark
administrators, Global Rate Set Systems (GRSS), positioning the
Group as a leading player in the calculation and administration of
Interbank Offered Rate (IBOR) indices.
-
Pioneering with the launch of the Euronext Wireless
Network
In July 2024, Euronext launched its new
microwave service (EWiN), becoming the first exchange in Europe to
offer “Plug & Play” order entry in London via microwave
technology. This service is set to significantly enhance the speed
of order transmission, offering unparalleled latency
improvements.
- Stéphane
Boujnah, Chief Executive Officer and Chairman of the Managing Board
of Euronext, said:
“In the second quarter of 2024, Euronext
reached record revenue and income of €412.9 million. Strong organic
growth in our non-volume related businesses, combined with dynamic
trading activities across asset classes drove the Group’s revenue
growth to +12.2%. Combined with continued cost control, this record
performance led to a +18.8% increase in adjusted EBITDA, to €256.8
million, and to a 62.2% adjusted EBITDA margin. As a result of this
strong performance, our reported net profit grew +18.2% to €141.7
million and adjusted net profit grew +15.6% to €165.2 million. This
represents an adjusted EPS of €1.59, increasing +19.0% compared to
last year.
Over the past few months, we pursued the
diversification of our business model with the closing of the
acquisition of GRSS, a leading benchmark administrator, in June
2024. This bolt-on acquisition will further strengthen Euronext’s
non-volume related revenue growth. We also continued to innovate
with the launch of the Euronext Wireless Network, our new microwave
service. With this new offering, we became the first exchange in
Europe to offer “Plug & Play” order entry in London via
microwave technology, which will significantly enhance the speed of
order transmission and offer unparalleled improvements in
latency.
We are now delivering on the final milestone
of the Borsa Italiana Group integration. On 15 July 2024, we
successfully completed the first phase of the derivatives clearing
migration with the migration of our commodity derivatives clearing
activities to Euronext Clearing. Financial derivatives will follow
in September 2024. With this strategic expansion of our clearing
house, Euronext is creating an integrated market infrastructure
that further contributes to the defragmentation of the European
post-trade landscape, and serves as a catalyst for innovation for
its clients. This milestone will also be the final step in reaching
the targeted €115 million of run-rate EBITDA synergies by the end
of 2024.”
Q2 2024 financial performance
In €m, unless stated otherwise
The figures in this document have not been audited or reviewed
by our external auditor. |
Q2 2024 |
Q2 2023 |
% var |
% var
(like-for-like, constant currencies) |
|
Revenue and income |
412.9 |
368.1 |
+12.2% |
+11.9% |
|
Listing |
58.4 |
55.1 |
+5.9% |
+5.8% |
|
Trading revenue, of which |
142.7 |
118.2 |
+20.7% |
+20.6% |
|
Cash trading |
74.2 |
65.2 |
+13.8% |
+13.8% |
|
Derivatives trading |
13.9 |
13.0 |
+6.6% |
+6.6% |
|
Fixed income trading |
35.6 |
25.3 |
+40.7% |
+40.7% |
|
FX trading |
7.9 |
6.1 |
+28.7% |
+27.3% |
|
Power trading |
11.1 |
8.6 |
+30.1% |
+29.2% |
|
Investor Services |
3.3 |
2.8 |
+17.7% |
+15.6% |
|
Advanced Data Services |
60.0 |
56.9 |
+5.4% |
+4.1% |
|
Post-Trade, of which |
108.9 |
93.1 |
+16.9% |
+16.8% |
|
Clearing |
39.2 |
29.4 |
+33.2% |
+33.2% |
|
Custody and Settlement |
69.7 |
63.7 |
+9.4% |
+9.3% |
|
Euronext Technology Solutions & Other |
25.4 |
27.3 |
-7.0% |
-7.0% |
|
NTI through CCP business |
13.8 |
13.8 |
-0.4% |
-0.4% |
|
Other income |
0.4 |
0.7 |
-39.7% |
-39.8% |
|
Transitional revenues |
- |
0.0 |
-100.0% |
-100.0% |
|
Underlying operational expenses exc. D&A |
(156.1) |
(152.0) |
+2.7% |
+2.4% |
|
Adjusted EBITDA |
256.8 |
216.1 |
+18.8% |
+18.5% |
|
Adjusted EBITDA margin |
62.2% |
58.7% |
+3.5pts |
+3.5pts |
|
Operating expenses exc. D&A |
(162.9) |
(160.9) |
+1.3% |
+1.0% |
|
EBITDA |
249.9 |
207.2 |
+20.6% |
+20.3% |
|
Depreciation & Amortisation |
(47.9) |
(42.2) |
+13.7% |
+13.5% |
|
Total Expenses (inc. D&A) |
(210.9) |
(203.0) |
+3.9% |
+3.6% |
|
Adjusted operating profit |
234.8 |
197.8 |
+18.7% |
+18.4% |
|
Operating Profit |
202.0 |
165.0 |
+22.4% |
|
|
Net financing income / (expense) |
3.5 |
(1.9) |
n/a |
|
|
Results from equity investments |
1.2 |
3.2 |
-61.3% |
|
|
Profit before income tax |
206.7 |
166.4 |
+24.2% |
|
|
Income tax expense |
(55.7) |
(41.2) |
+35.3% |
|
|
Share of non-controlling interests |
(9.2) |
(5.2) |
+76.5% |
|
|
Net income, share of the parent company
shareholders |
141.7 |
120.0 |
+18.2% |
|
|
Adjusted Net income, share of the parent company
shareholders4 |
165.2 |
142.9 |
+15.6% |
|
|
Adjusted EPS (basic, in€) |
1.59 |
1.34 |
+19.0% |
|
|
Reported EPS (basic, in€) |
1.37 |
1.12 |
+21.7% |
|
|
Adjusted EPS (diluted, in€) |
1.59 |
1.34 |
+19.0% |
|
| Reported EPS
(diluted, in€) |
1.36 |
1.12 |
+21.6% |
|
Share count differs between the two periods
-
Q2 2024 revenue and income
In Q2 2024, Euronext’s revenue and income
amounted to €412.9 million, up +12.2% compared to Q2 2023, driven
by the strong performance of trading and post-trade activities,
resulting from dynamic trading environments and the positive
contribution of the Euronext Clearing European expansion at the end
of November 2023, as well as solid organic growth in non-volume
related businesses.
On a like-for-like basis and at constant
currencies, Euronext revenue and income was up +11.9% in Q2 2024
compared to Q2 2023.
Non-volume related revenue accounted for 58% of
Group revenue in Q2 2024, slightly down compared to Q2 2023,
reflecting record performance in fixed-income trading and strong
trading performance across most of the other asset classes and
dynamic clearing activity. The underlying operating expenses
excluding D&A coverage by non-volume related revenue ratio was
at 153% in Q2 2024, compared to 148% in Q2 2023.
Underlying operational expenses excluding
depreciation and amortisation increased by +2.7% to
€156.1 million, reflecting continued cost control in an
inflationary environment. On a like-for-like basis, underlying
operational expenses excluding depreciation and amortisation
increased by +2.4% compared to Q2 2023.
Consequently, adjusted EBITDA for the quarter
totalled €256.8 million, up +18.8% compared to Q2 2023. This
represents an adjusted EBITDA margin of 62.2%, up +3.5 points
compared to Q2 2023. On a like-for-like basis, adjusted EBITDA for
Q2 2024 was up +18.5%, and adjusted EBITDA margin was up +3.5
points compared to the same perimeter in Q2 2023.
-
Q2 2024 net income, share of the parent company
shareholders
Depreciation and amortisation accounted for
€47.9 million in Q2 2024, +13.7% more than in Q2 2023 due to
ongoing migration projects. PPA related to acquired businesses
accounted for €20.1 million and is included in depreciation and
amortisation.
Adjusted operating profit was €234.8 million, up
+18.7% compared to Q2 2023. On a like-for-like basis, adjusted
operating profit was up +18.4% compared to Q2 2023.
€32.8 million of non-underlying expenses,
including depreciation and amortisation, were reported in Q2 2024,
related to the implementation of the ‘Growth for Impact 2024’
strategic plan and the PPA of acquired businesses.
Net financing income for Q2 2024 was €3.5
million, compared to a net financing expense of €1.9 million in Q2
2023. This results from higher interest income due to higher
interest rates, offsetting the cost of debt.
Results from equity investments accounted for
€1.2 million in Q2 2024, reflecting the gain from the disposal of a
non-strategic associate. As a reminder, in Q2 2023, Euronext
reported €3.2 million in results from equity investments, solely
reflecting the contribution from LCH SA.
Income tax for Q2 2024 was €55.7 million. This
translated into an effective tax rate of 27.0% for the quarter,
compared to 24.8% in Q2 2023, which was positively impacted by
non-taxable income.
Share of non-controlling interests mainly
relating to the Borsa Italiana Group and Nord Pool amounted to
€9.2 million in Q2 2024.
As a result, the reported net income, share of
the parent company shareholders, increased by +18.2% for Q2 2024
compared to Q2 2023, to €141.7 million. This represents a reported
EPS of €1.37 basic and €1.36 diluted in Q2 2024, compared to €1.12
basic and €1.12 diluted in Q2 2023. Adjusted net income, share of
the parent company shareholders was up +15.6% to €165.2 million.
Adjusted EPS (basic) was up +19.0% in Q2 2024, at €1.59 per share,
compared to an adjusted EPS (basic) of €1.34 per share in Q2 2023.
This increase reflects higher profit and a lower number of
outstanding shares over the first half of 2024 compared to the
first half of 2023.
The weighted number of shares used over the
first half of 2024 was 103,653,544 for the basic calculation and
103,986,292 for the diluted calculation, compared to 106,741,621
and 106,989,806 respectively over the first half of 2023. The
difference reflects the share repurchase programme carried out in
H2 2023.
In Q2 2024, Euronext reported a net cash flow
from operating activities of €111.5 million, compared to €139.0
million in Q2 2023, reflecting significantly higher negative
changes in working capital from CCP activities at Euronext Clearing
and higher income tax. Excluding the impact on working capital from
Euronext Clearing and Nord Pool CCP activities, net cash flow from
operating activities accounted for 61.0% of EBITDA in Q2 2024.
Q2 2024 business highlights
|
in €m, unless stated otherwise |
Q2 2024 |
Q2 2023 |
% change |
|
Revenue |
58.4 |
55.1 |
+5.9% |
|
Equity |
26.6 |
25.3 |
+5.1% |
|
o/w Annual fees |
18.3 |
17.4 |
+5.3% |
|
o/w Follow-ons |
4.4 |
4.0 |
+8.8% |
|
o/w IPOs |
4.0 |
3.9 |
+0.4% |
|
Debts |
10.8 |
9.2 |
+16.8% |
|
ETFs, Funds & Warrants |
6.0 |
5.7 |
+5.3% |
|
Corporate Services |
12.8 |
11.8 |
+8.8% |
|
ELITE and Other |
2.2 |
3.1 |
-28.2% |
Listing revenue was €58.4 million in Q2 2024, an
increase of +5.9% compared to Q2 2023, driven by the strong
performance of debt listing, continued strong growth of the
Corporate Services SaaS offering and solid equity listing
activity.
|
Money raised (€m) |
Q2 2024 |
Q2 2023 |
% change |
|
| Equity
listings |
3,403 |
1,119 |
+204.2% |
|
| Follow-ons |
2,140 |
4,068 |
-47.4% |
|
| Bonds |
304,686 |
332,705 |
-8.4% |
|
|
|
|
|
|
|
Listed securities |
Q2 2024 |
Q2 2023 |
% change |
|
| New equity
listings over the period |
14 |
16 |
-12.5% |
|
| # ETFs listed,
end of period |
3,885 |
3,755 |
+3.5% |
|
| # Bonds listed,
end of period |
56,672 |
54,061 |
+4.8% |
|
Money raised from follow-ons has been
restated for previous periods.
Euronext sustained its position as the leading
equity listing venue in Europe, recording 14 new equity listings in
Q2 2024. This represented 40% of European listing activity. Several
international large caps listed on Euronext this quarter. A third
of the listings in Q2 2024 were from international companies,
demonstrating the market’s appeal on an international scale.
Euronext Corporate Services revenue grew +8.8%
compared to Q2 2023 to €12.8 million, resulting from the strong
performance of its SaaS products.
Debt listing revenue grew +16.8% from Q2 2023 to
€10.8 million, resulting from dynamic debt issuance activity.
Euronext also sustained its world leading position in debt listing,
including for ESG bonds.
On a like-for-like basis at constant currencies,
listing revenue increased by +5.8% compared to Q2 2023.
|
|
Q2 2024 |
Q2 2023 |
% change |
|
Cash trading revenue (€m) |
74.2 |
65.2 |
+13.8% |
| ADV Cash market
(€m) |
11,062 |
9,994 |
+10.7% |
Cash trading revenue increased by +13.8% to
€74.2 million in Q2 2024, supported by increased volatility.
Over the second quarter of 2024, Euronext cash
trading yield was 0.53 bps, reflecting efficient yield management.
Euronext market share on cash trading averaged 66.0% in Q2
2024.
On a like-for-like basis at constant currencies,
cash trading revenue was up +13.8%.
|
|
Q2 2024 |
Q2 2023 |
% change |
|
Derivatives trading revenue (€m) |
13.9 |
13.0 |
+6.6% |
| ADV Derivatives
market (in lots) |
685,967 |
595,206 |
+15.2% |
| ADV Equity &
Index derivatives (in lots) |
560,600 |
505,806 |
+10.8% |
| ADV Commodity
derivatives (in lots) |
125,367 |
89,400 |
+40.2% |
Derivatives trading revenue increased by +6.6%
to €13.9 million in Q2 2024, reflecting higher trading volumes for
equity, index and commodity derivatives.
Euronext revenue capture on derivatives trading
was €0.32 per lot for the second quarter of 2024.
On a like-for-like basis at constant currencies,
derivatives trading revenue was up +6.6% in Q2 2024 compared to Q2
2023.
|
|
Q2 2024 |
Q2 2023 |
% change |
| Fixed income
trading revenue (€m) |
35.6 |
25.3 |
+40.7% |
|
o/w MTS Cash |
24.9 |
15.5 |
+60.1% |
|
o/w MTS Repo |
6.6 |
6.3 |
+4.8% |
|
ADV MTS Cash (€m) |
36,287 |
21,632 |
+67.7% |
| TAADV MTS Repo
(€m) |
448,618 |
443,680 |
+1.1% |
| ADV other fixed
income (€m) |
1,689 |
1,293 |
+30.6% |
Fixed income revenue reached another record at
€35.6 million in Q2 2024, up +40.7% compared to Q2 2023, reflecting
record quarterly volumes at MTS driven by an economic environment
favouring money markets, sustained sovereign issuance activities
and supportive volatility.
On a like-for-like basis at constant currencies,
fixed income trading revenue was up +40.7% compared to Q2 2023.
|
|
Q2 2024 |
Q2 2023 |
% change |
| Spot FX trading
revenue (€m) |
7.9 |
6.1 |
+28.7% |
| ADV spot FX
Market (in $m) |
27,443 |
21,596 |
+27.1% |
FX trading revenue was up +28.7% to €7.9 million
in Q2 2024, reflecting growing volumes supported by a favourable
volatility environment.
On a like-for-like basis at constant currencies,
FX trading revenue was up +27.3% compared to Q2 2023.
|
|
Q2 2024 |
Q2 2023 |
% change |
Power trading revenue (€m) |
11.1 |
8.6 |
+30.1% |
| ADV Day-ahead
power market (in TWH) |
2.46 |
2.36 |
+4.5% |
| ADV Intraday
power market (in TWH) |
0.34 |
0.18 |
+91.3% |
Power trading revenue reported a strong quarter
with revenue reaching €11.1 million in Q2 2024, up +30.1% compared
to Q2 2023, reflecting the continued strong momentum in the
intraday power market and solid day-ahead volumes.
On a like-for-like basis at constant currencies,
power trading revenue was up +29.2% compared to Q2 2023.
Investor Services reported €3.3 million revenue
in Q2 2024, representing a +17.7% increase compared to Q2 2023,
resulting from continued commercial expansion of the franchise.
On a like-for-like basis at constant currencies,
Investor Services revenue was up +15.6% compared to Q2 2023.
Advanced Data Services reached €60.0 million in
Q2 2024, up +5.4% from Q2 2023, driven by dynamic non-professional
usage, solid demand for fixed-income and power trading data
services, continued commercial expansion of the quant products
offering, as well as the first contribution of GRSS for one month
of consolidation.
On a like-for-like basis at constant currencies,
Advanced Data Services revenue was up +4.1% compared to
Q2 2023.
|
in €m, unless stated otherwise |
Q2 2024 |
Q2 2023 |
% change |
|
Post-trade revenue (exc. NTI) |
108.9 |
93.1 |
+16.9% |
|
Clearing |
39.2 |
29.4 |
+33.2% |
|
o/w Revenue from LCH SA |
23.1 |
17.9 |
+28.7% |
|
o/w Revenue from Euronext Clearing |
16.1 |
11.5 |
+40.2% |
|
o/w Derivatives |
1.3 |
1.3 |
-7.0% |
|
o/w Equities |
6.2 |
3.6 |
+69.8% |
|
o/w Bonds |
3.5 |
3.1 |
+12.2% |
|
o/w Other |
5.1 |
3.3 |
+53.3% |
| Custody,
Settlement and other Post-Trade activities |
69.7 |
63.7 |
+9.4% |
|
Number of transactions and lots cleared |
Q2 2024 |
Q2 2023 |
% change |
| Shares
(number of contracts – single counted) |
58,879,480 |
16,582,689 |
+255.1% |
| Bonds –
Wholesale (nominal value in €bln – double counted) |
6,918 |
6,511 |
+6.2% |
| Bonds – Retail
(number of contracts – double counted) |
3,658,240 |
2,899,622 |
+26.2% |
| Derivatives
(number of contracts – single counted, Euronext Clearing
only) |
4,935,926 |
6,552,284 |
-24.7% |
Clearing revenue was up +33.2% to €39.2 million
in Q2 2024, reflecting the increase in equity clearing volumes
following the expansion of Euronext Clearing and higher clearing
revenues from the dynamic fixed income and commodities activities.
Non-volume related clearing revenue (including membership fees,
treasury income received from LCH SA) accounted for €11.9 million
of the total clearing revenue in Q2 2024.
On a like-for-like basis at constant currencies,
clearing revenue was up +33.2% compared to Q2 2023.
Net treasury income (NTI) amounted to €13.8
million in Q2 2024, stable compared to Q2 2023 and reflecting
higher return on cash held at Euronext Clearing.
- Custody,
Settlement and other Post-Trade activities
|
Euronext Securities activity |
Q2 2024 |
Q2 2023 |
% change |
| Number of
settlement instructions over the period |
32,114,794 |
28,787,026 |
+11.6% |
|
Assets under Custody (in €bn), end of period |
7,049 |
6,424 |
+9.7% |
Revenue from Custody, Settlement and other
Post-Trade activities was €69.7 million in Q2 2024, posting a
strong organic growth of +9.4% compared to Q2 2023. This reflects
growing assets under custody, dynamic issuance activities and
higher settlement activity.
On a like-for-like basis at constant currencies,
Custody, Settlement and other Post-Trade revenue was up +9.3%
compared to Q2 2023.
-
Technology Solutions and Other revenue
Euronext Technologies and Other revenue
decreased to €25.4 million in Q2 2024, down -7.0% from Q2 2023,
mainly driven by the termination of double-run connectivity
revenues following the completion of the migration of Borsa
Italiana cash and derivatives trading markets to Optiq®, passing on
synergies to clients. On a like-for-like basis at constant
currencies, Euronext Technologies and Other revenue was down –7.0%
compared to Q2 2023.
Q2 2024 corporate highlights since publication of the
first quarter 2024 results on 14 May 2024
-
Closing of the acquisition of Global Rate Set
Systems
On 3 June 2024, Euronext announced the closing
of the acquisition of Global Rate Set Systems (GRSS), a leading
provider of services to benchmark administrators. Euronext’s
acquisition of GRSS expands and enhances its index franchise,
positioning the Group as a leading player in the calculation and
administration of Interbank Offered Rate (IBOR) indices. By
partnering with GRSS and its founder, Euronext intends to
strengthen GRSS’s position as the preferred provider in the
contributed data and indices sector, leveraging on Euronext’s
global leadership and reputation. This acquisition contributes to
the growth of Euronext’s fixed and subscription-based revenue.
-
Migration of MTS Data Centre
MTS successfully concluded the migration of its
Production Data Centre from Milan to the Aruba Global Cloud Data
Centre IT3 in Bergamo on 13 May 2024. This strategic move enables
customers to access MTS Markets’ Trading and Data services through
the same facilities as all Euronext trading venues, thereby
enhancing efficiencies in European capital markets.
Key highlights of the migration include:
- Greater efficiency: Customers can
now access MTS Markets’ Trading and Data services via the same
facilities as all Euronext trading venues.
- Reduced latency: There has been a
~30% reduction in gateway-to-gateway latency on all MTS Cash Market
orderbooks since the migration.
- State-of-the-Art Facilities: The
new data centre meets the highest quality standards (rating 4
certification), ensuring maximum safety and resilience.
- Sustainability commitment: The
facility is 100% powered by renewable energy, reflecting our
commitment to minimising environmental impact.
Corporate highlights since 30 June 2024
-
Successful migration of commodity derivatives to Euronext
Clearing
Euronext successfully migrated the clearing of
its commodity derivatives to Euronext Clearing on 15 July 2024,
completing the first phase of its derivatives clearing migration.
Euronext confirmed that the second and final phase, the migration
of financial derivatives, will take place in September 2024.
-
Continued innovation with the launch of microwave
technology
On 11 July 2024, Euronext announced the
successful launch of its new London-based microwave service, the
Euronext Wireless Network (EWiN). Euronext is the first exchange in
Europe to offer “Plug & Play” order entry in London via
microwave technology. This service is set to significantly enhance
the speed of order transmission between London, UK, and Bergamo,
Italy, where Euronext’s core data centre is located, offering
unparallelled improvements in latency for Euronext’s many
London-based members.
The Euronext Wireless Network (EWiN) is a fully
resilient service with 100% fibre back-up, providing order
submission via microwaves from London Equinix LD4 to Bergamo Aruba
IT3 in less than 4 milliseconds. This new service is provided in
collaboration with McKay Brothers, the largest independent
microwave network provider in Europe.
The EWiN microwave network represents a major
technological advancement in the financial services sector. By
leveraging the faster transmission speeds of microwave technology,
EWiN provides a direct and highly efficient communication pathway
that significantly reduces the time it takes to send orders to
Euronext’s single liquidity pool, powered by the single technology
platform Optiq®.
EWiN combines several key benefits, providing
Euronext members with a technological edge in the fast-paced world
of financial trading. The service has been designed with full
straight-through processing (STP). EWiN also has full fibre
back-up, making it 100% resilient. EWiN significantly reduces
latency, ensuring faster and more reliable order execution. Lastly,
it creates a direct microwave link between London and Bergamo, two
major financial data hubs in Europe. Goldman Sachs and Morgan
Stanley have confirmed the deployment of the new technology since
its go-live date.
Agenda
A conference call and webcast
will be held on 26 July 2024, at 09:00 CEST (Paris
time) / 08:00 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: |
+1 786 697
3501 |
IT
Number: |
+39 06 8336
0400 |
| BE
Number: |
+32 2 789
8603 |
DE
Number: |
+49 30 3001
90612 |
Password:
Euronext
Live webcast:
For the live audio webcast go to:
Euronext Results webcast
The webcast will be available for replay after
the call at the webcast link and on the Euronext Investor Relations
webpage.
|
ANALYSTS & INVESTORS –
ir@euronext.com |
| Investor
Relations |
Aurélie
Cohen |
+33 1 70 48 24
27 |
ir@euronext.com |
| |
Clément
Kubiak |
+33 1 70 48 24
27 |
ir@euronext.com |
|
MEDIA –
mediateam@euronext.com |
Europe
|
Aurélie
Cohen |
+33 1 70 48 24
45 |
mediateam@euronext.com
|
| Andrea
Monzani |
+39 02 72 42 62
13 |
|
Amsterdam |
Marianne
Aalders |
+31 20 721 41
33 |
amsterdampressoffice@euronext.com |
|
Brussels |
Marianne
Aalders |
+32 26 20 15
01 |
brusselspressoffice@euronext.com |
| Dublin |
Andrea
Monzani |
+39 02 72 42 62
13 |
dublinpressoffice@euronext.com |
| Lisbon |
Sandra
Machado |
+351 91 777 68
97 |
portugalpressoffice@euronext.com |
| Milan,
Rome |
Ester
Russom |
+39 02 72 42 67
56 |
italypressoffice@euronext.com |
| Oslo |
Cathrine Lorvik
Segerlund |
+47 41 69 59
10 |
oslopressoffice@euronext.com |
| Paris,
Corporate |
Flavio
Bornancin-Tomasella |
+33 1 70 48 24
45 |
parispressoffice@euronext.com |
| Corporate
Services |
Coralie
Patri |
+33 7 88 34 27
44 |
parispressoffice@euronext.com |
About Euronext
Euronext is the leading pan-European market
infrastructure, connecting European 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 nearly 1,900 listed
equity issuers and around €6.5 trillion in market capitalisation as
of end of June 2024, 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. The Group provides a multi-asset clearing house
through Euronext Clearing, and custody and settlement services
through Euronext Securities central securities depositories in
Denmark, Italy, Norway and Portugal. 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.
For the latest news, go to euronext.com or
follow us on X (twitter.com/euronext) and LinkedIn
(https://www.linkedin.com/company/euronext).
Disclaimer
This 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.
© 2024, 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
Adjustments in financial
disclosure
To highlight its underlying performance, since
Q1 2023 Euronext has published underlying recurring costs, adjusted
EBITDA and non-recurring costs.
Euronext has removed the exceptional items line
from its financial statements. Consequently, costs previously
reported as exceptional items have from Q1 2023 been included in
their respective lines within Euronext operating expenses as
non-recurring items.
The €150 million of implementation costs to
deliver on the ‘Growth for Impact 2024’ strategic plan targets are
therefore considered as non-recurring items and have been withdrawn
from the underlying recurring costs.
The computation of adjusted net income and
earnings per share has been adjusted accordingly. The computation
of reported net income and earnings per share is not impacted.
2024 strategic plan targets remain unchanged and
are not affected by this change in reporting.
The non-IFRS indicators are defined below.
Non-IFRS financial measures
For comparative purposes, the company provides
unaudited non-IFRS measures including:
-
Operational expenses excluding depreciation and amortisation,
underlying operational expenses excluding depreciation and
amortisation;
-
EBITDA, EBITDA margin, adjusted EBITDA, adjusted 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;
-
Underlying operational expenses excluding depreciation and
amortisation as the total of salary and employee benefits, and
other operational expenses, excluding non-recurring costs;
-
Underlying revenue and income as the total of revenue and income,
excluding non-recurring revenue and income;
- Non-underlying
items as items of revenue, income and expense that are material by
their size and/or that are infrequent and unusual by their nature
or incidence are not considered to be recurring in the normal
course of business and are classified as non-underlying items on
the face of the income statement within their relevant category in
order to provide further understanding of the ongoing sustainable
performance of the Group. These items can include:
- integration or double run costs of
significant projects, restructuring costs and costs related to
acquisitions that change the perimeter of the Group;
- one-off finance costs, gains or
losses on sale of subsidiaries and impairments of investments:
- amortisation and impairment of
intangible assets which are recognised as a result of acquisitions
and mostly comprising customer relationships, brand names and
software that were identified during purchase price allocation
(PPA);
- tax related to non-underlying
items.
-
Adjusted operating profit as the operating profit adjusted for any
non-underlying revenue and income and non-underlying costs,
including PPA of acquired businesses;
-
EBITDA as the operating profit before depreciation and
amortisation;
-
Adjusted EBITDA as the adjusted operating profit before
depreciation and amortisation adjusted for any non-underlying
operational expenses excluding depreciation and amortisation;
-
EBITDA margin as EBITDA divided by total revenue and income;
-
Adjusted EBITDA margin as adjusted EBITDA, divided by total revenue
and income;
-
Adjusted net income, as the net income, share of the parent company
shareholders, adjusted for any non-underlying items and related tax
impact.
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.
Non-volume related revenue
definition
Non-volume related revenue includes Listing
excl. IPOs, Advanced Data Services, Custody & Settlement and
other Post-Trade, fixed revenue from the Clearing activities
(including for instance NTI and membership fees), Investor
Services, Technology Solutions, Other Income and Transitional
Revenue.
Adjusted EPS definition
|
|
Q2 2024 |
Q2 2023 |
|
Net income reported |
141.7 |
120.0 |
| EPS
reported |
1.37 |
1.12 |
|
Adjustments |
|
|
|
of which revenues |
- |
- |
|
of which Operating expenses exc. D&A |
(6.8) |
(8.9) |
|
of which Depreciation and amortisation |
(26.0) |
(23.8) |
|
of which Net financing expense |
- |
(0.2) |
|
of which results from equity investments |
1.2 |
- |
|
of which Minority interest |
(0.1) |
1.3 |
|
Tax related to adjustments |
8.3 |
8.7 |
|
Adjusted net income |
165.2 |
142.9 |
|
Adjusted EPS |
1.59 |
1.34 |
The figures in this document have not been
audited or reviewed by our external auditor
Consolidated income
statement
| |
Q2 2024 |
Q2 2023 |
|
in € million, unless stated otherwise |
Underlying |
Non-underlying |
Reported |
Underlying |
Non-underlying |
Reported |
|
Revenue and income |
412.9 |
- |
412.9 |
368.1 |
- |
368.1 |
|
Listing |
58.4 |
- |
58.4 |
55.1 |
- |
55.1 |
|
Trading revenue, of which |
142.7 |
- |
142.7 |
118.2 |
- |
118.2 |
|
Cash trading |
74.2 |
- |
74.2 |
65.2 |
- |
65.2 |
|
Derivatives trading |
13.9 |
- |
13.9 |
13.0 |
- |
13.0 |
|
Fixed income trading |
35.6 |
- |
35.6 |
25.3 |
- |
25.3 |
|
FX trading |
7.9 |
- |
7.9 |
6.1 |
- |
6.1 |
|
Power trading |
11.1 |
- |
11.1 |
8.6 |
- |
8.6 |
|
Investor services |
3.3 |
- |
3.3 |
2.8 |
- |
2.8 |
|
Advanced data services |
60.0 |
- |
60.0 |
56.9 |
- |
56.9 |
|
Post-Trade, of which |
108.9 |
- |
108.9 |
93.1 |
- |
93.1 |
|
Clearing |
39.2 |
- |
39.2 |
29.4 |
- |
29.4 |
|
Custody & Settlement and other |
69.7 |
- |
69.7 |
63.7 |
- |
63.7 |
|
Euronext Technology Solutions & other revenue |
25.4 |
- |
25.4 |
27.3 |
- |
27.3 |
|
Net Financing Income through CCP business |
13.8 |
- |
13.8 |
13.8 |
- |
13.8 |
|
Other income |
0.4 |
- |
0.4 |
0.7 |
- |
0.7 |
|
Transitional revenues |
- |
- |
- |
0.0 |
- |
0.0 |
|
Operating expenses excluding D&A |
(156.1) |
(6.8) |
(162.9) |
(152.0) |
(8.9) |
(160.9) |
|
Salaries and employee benefits |
(79.9) |
(0.4) |
(80.2) |
(78.3) |
(2.1) |
(80.3) |
|
Other operational expenses, of which |
(76.2) |
(6.5) |
(82.7) |
(73.7) |
(6.8) |
(80.5) |
|
System & communication |
(24.7) |
(1.1) |
(25.9) |
(23.3) |
(2.4) |
(25.6) |
|
Professional services |
(13.6) |
(4.4) |
(17.9) |
(15.4) |
(3.3) |
(18.7) |
|
Clearing expense |
(9.9) |
- |
(9.9) |
(8.6) |
- |
(8.6) |
|
Accommodation |
(4.1) |
(0.3) |
(4.4) |
(4.8) |
(0.3) |
(5.0) |
|
Other operational expenses |
(23.9) |
(0.7) |
(24.6) |
(21.7) |
(0.9) |
(22.6) |
|
EBITDA |
256.8 |
(6.8) |
249.9 |
216.1 |
(8.9) |
207.2 |
|
EBITDA margin |
62.2% |
|
60.5% |
58.7% |
|
56.3% |
|
Depreciation & amortisation |
(21.9) |
(26.0) |
(47.9) |
(18.3) |
(23.8) |
(42.2) |
|
Total expenses |
(178.0) |
(32.8) |
(210.9) |
(170.3) |
(32.7) |
(203.0) |
|
Operating profit |
234.8 |
(32.8) |
202.0 |
197.8 |
(32.7) |
165.0 |
|
Net financing income / (expense) |
3.5 |
- |
3.5 |
(1.6) |
(0.2) |
(1.9) |
|
Results from equity investment |
0.1 |
1.2 |
1.2 |
3.2 |
- |
3.2 |
|
Profit before income tax |
238.4 |
(31.7) |
206.7 |
199.3 |
(32.9) |
166.4 |
|
Income tax expense |
(64.0) |
8.3 |
(55.7) |
(49.9) |
8.7 |
(41.2) |
|
Non-controlling interests |
(9.2) |
(0.1) |
(9.2) |
(6.6) |
1.3 |
(5.2) |
|
Net income, share of the parent company
shareholders |
165.2 |
(23.4) |
141.7 |
142.9 |
(22.9) |
120.0 |
|
EPS (basic, in €) |
1.59 |
|
1.37 |
1.34 |
|
1.12 |
|
EPS (diluted, in €) |
1.59 |
|
1.36 |
1.34 |
|
1.12 |
The figures in this document have not been audited or
reviewed by our external auditor
Consolidated comprehensive income statement
| |
Q2 2024 |
Q2 2023 |
|
Profit for the period |
151.0 |
125.2 |
| |
|
|
|
Other comprehensive income |
|
|
|
Items that may be reclassified to profit or loss: |
|
|
|
– Exchange differences on translation of foreign operations |
15.2 |
(24.4) |
|
– Income tax impact on exchange differences on translation of
foreign operations |
(1.9) |
2.5 |
|
– Change in value of debt investments at fair value through other
comprehensive income |
0.3 |
0.7 |
– Income tax impact on change in value of debt investments at fair
value through
other comprehensive income |
(0.1) |
(0.2) |
| |
|
|
|
Items that will not be reclassified to profit or loss: |
|
|
|
– Change in value of equity investments at fair value through other
comprehensive income |
6.5 |
11.7 |
– Income tax impact on change in value of equity investments at
fair value through
other comprehensive income |
(1.0) |
(3.1) |
|
– Remeasurements of post-employment benefit obligations |
1.9 |
0.7 |
|
– Income tax impact on remeasurements of post-employment benefit
obligations |
(0.2) |
(0.1) |
|
Other comprehensive income for the period, net of tax |
20.8 |
(12.1) |
|
Total comprehensive income for the period |
171.8 |
113.1 |
| |
|
|
|
Comprehensive income attributable to: |
|
|
|
– Owners of the parent |
162.5 |
108.4 |
|
– Non-controlling interests |
9.3 |
4.7 |
The figures in this document have not been
audited or reviewed by our external auditor
Consolidated balance sheet
| in €
million |
30 June 2024 |
31 March 2024 |
|
Non-current assets |
|
|
|
Property, plant and equipment |
106.1 |
107.2 |
|
Right-of-use assets |
53.1 |
56.1 |
|
Goodwill and other intangible assets |
6,104.6 |
6,069.8 |
|
Deferred income tax assets |
46.0 |
32.3 |
|
Investments in associates and joint ventures |
0.7 |
1.3 |
|
Financial assets at fair value through OCI |
269.2 |
262.6 |
|
Other non-current assets |
4.1 |
4.4 |
|
Total non-current assets |
6,583.8 |
6,533.8 |
| |
|
|
|
Current assets |
|
|
|
Trade and other receivables |
347.8 |
392.2 |
|
Income tax receivable |
7.2 |
28.3 |
|
CCP clearing business assets |
207,536.8 |
212,122.7 |
|
Other current financial assets |
88.5 |
105.1 |
|
Cash & cash equivalents |
1,376.0 |
1,609.6 |
|
Total current assets |
209,356.4 |
214,257.9 |
|
|
|
|
|
Total assets |
215,940.1 |
220,791.7 |
| |
|
|
|
Equity |
|
|
|
Shareholders' equity |
3,961.2 |
4,064.1 |
|
Non-controlling interests |
134.1 |
147.8 |
|
Total Equity |
4,095.4 |
4,211.9 |
| |
|
|
|
Non-current liabilities |
|
|
|
Borrowings |
2,536.3 |
3,032.8 |
|
Lease liabilities |
38.5 |
37.6 |
|
Deferred income tax liabilities |
505.5 |
523.7 |
|
Post-employment benefits |
20.8 |
22.3 |
|
Contract liabilities |
61.2 |
59.0 |
|
Other provisions |
7.1 |
7.2 |
|
Total Non-current liabilities |
3,169.5 |
3,682.6 |
| |
|
|
|
Current liabilities |
|
|
|
Borrowings |
500.8 |
24.2 |
|
Lease liabilities |
18.2 |
23.2 |
|
CCP clearing business liabilities |
207,646.7 |
212,229.1 |
|
Income tax payable |
80.6 |
87.7 |
|
Trade and other payables |
290.9 |
367.2 |
|
Contract liabilities |
135.1 |
160.4 |
|
Other provisions |
3.6 |
5.4 |
|
Total Current liabilities |
208,675.2 |
212,897.2 |
|
|
|
|
|
Total equity and liabilities |
215,940.1 |
220,791.7 |
The consolidated Balance Sheet includes the
Euronext Clearing (CC&G) business assets and liabilities. The
figures in this document have not been audited or reviewed by our
external auditor.
Consolidated statement of cash
flows
| in €
million |
Q2 2024 |
Q2 2023 |
|
Profit before tax |
206.7 |
166.4 |
|
Adjustments for: |
|
|
|
- Depreciation and amortisation |
47.9 |
42.2 |
|
- Share based payments |
2.9 |
3.4 |
|
- Share of profit from associates and joint ventures |
(0.1) |
(3.2) |
|
- Changes in working capital |
(67.9) |
(54.0) |
|
- Gain on sale of associate |
(1.2) |
- |
| |
|
|
|
Cash flow from operating activities |
188.4 |
154.8 |
|
Income tax paid |
(76.9) |
(15.8) |
|
Net cash flows from operating activities |
111.5 |
139.0 |
| |
|
|
|
Cash flow from investing activities |
|
|
|
Business combinations, net of cash acquired |
(38.5) |
- |
|
Proceeds from sale of subsidiary |
- |
(0.2) |
|
Proceeds from sale of associate |
0.9 |
- |
|
Purchase of current financial assets |
(0.6) |
3.3 |
|
Redemption of current financial assets |
17.7 |
26.0 |
|
Purchase of property, plant and equipment |
(5.0) |
(4.8) |
|
Purchase of intangible assets |
(15.8) |
(18.4) |
|
Interest received |
11.3 |
4.9 |
|
Proceeds from sale of Property, plant, equipment and intangible
assets |
(0.1) |
- |
|
Dividends received from associates and joint ventures |
0.1 |
7.8 |
|
Net cash flow from investing activities |
(30.0) |
18.6 |
| |
|
|
|
Cash flow from financing activities |
|
|
|
Interest paid |
(28.2) |
(27.9) |
|
Payment of lease liabilities |
(4.2) |
(6.3) |
|
Acquisitions of own shares |
(10.0) |
(15.0) |
|
Employee Share transactions |
(1.2) |
(1.0) |
|
Dividends paid to the company's shareholders |
(257.3) |
(237.2) |
|
Dividends paid to non-controlling interests |
(18.9) |
(3.1) |
|
Net cash flow from financing activities |
(319.6) |
(290.5) |
| |
|
|
|
Total cash flow over the period |
(238.1) |
(132.9) |
|
Cash and cash equivalents - Beginning of period |
1,609.6 |
1,335.7 |
|
Non cash exchange gains/(losses) on cash and cash equivalents |
4.6 |
(7.1) |
|
Cash and cash equivalents - End of period |
1,376.0 |
1,195.8 |
The figures in this document have not been
audited or reviewed by our external auditor.
Volumes for the first quarter of
2024
| |
Q2 2024 |
Q2 2023 |
%var |
| Number of
trading days |
63 |
62 |
|
|
Number of transactions (buy and sells, inc. reported
trades) |
|
Total Cash Market |
153,354,172 |
145,707,128 |
+5.2% |
| ADV Cash
Market |
2,434,193 |
2,350,115 |
+3.6% |
|
Transaction value ( € million, single
counted) |
|
|
|
|
Total Cash Market |
696,882 |
619,652 |
+12.5% |
| ADV
Cash Market |
11,062 |
9,994 |
+10.7% |
| |
|
|
|
|
Listings |
|
|
|
|
Number of Issuers on Equities |
|
|
|
| Euronext |
1,862 |
1,909 |
-2.5% |
| SMEs |
1,469 |
1,513 |
-2.9% |
| Number
of Listed Securities |
|
|
|
| Funds |
2,347 |
2,783 |
-15.7% |
| ETFs |
3,885 |
3,755 |
+3.5% |
| Bonds |
56,672 |
54,061 |
+4.8% |
| |
|
|
|
|
Capital raised on primary and secondary
market |
|
|
|
|
Total Euronext, in €m |
|
|
|
| Number of new
equity listings |
14 |
16 |
|
| Money Raised -
New equity listings (incl over allotment) |
3,403.3 |
1,119 |
+204.2% |
| Money Raised -
Follow-ons on equities |
2,140 |
4,068 |
-47.4% |
| Money Raised -
Bonds |
304,686 |
332,705 |
-8.4% |
| Total Money
Raised |
310,230 |
337,892 |
-8.2% |
| |
|
|
|
| of
which SMEs |
|
|
|
| Number of new
equity listings |
11 |
13 |
|
| Money Raised -
New equity listings (incl over allotment) |
435 |
253 |
+72.4% |
| Money Raised -
Follow-ons on equities |
786 |
2,052 |
-61.7% |
| Money Raised -
Bonds |
435 |
892 |
-51.2% |
| Total Money
Raised |
1,657 |
3,197 |
-48.2% |
Money raised from follow-ons has been restated for previous
periods.
|
|
|
|
| |
Q2 2024 |
Q2 2023 |
%var |
|
Transaction value (€ million, single counted) |
|
|
|
|
MTS |
|
|
|
| ADV MTS
Cash |
36,287 |
21,632 |
+67.7% |
| TAADV MTS
Repo |
448,618 |
443,680 |
+1.1% |
| Other
fixed income |
|
|
|
| ADV Fixed
income |
1,689 |
1,293 |
+30.6% |
| |
Q2 2024 |
Q2 2023 |
%var |
| Number of trading
days |
65 |
65 |
|
|
FX volume ($m, single counted) |
|
|
|
| Total Euronext
FX |
1,783,772 |
1,403,731 |
+27.1% |
| ADV Euronext
FX |
27,443 |
21,596 |
+27.1% |
| |
|
|
|
| |
Q2 2024 |
Q2 2023 |
% var |
| Number of
trading days |
91 |
91 |
|
|
Power volume (in TWh) |
|
|
|
| ADV Day-ahead
Power Market |
2.46 |
2.36 |
+4.5% |
| ADV Intraday
Power Market |
0.34 |
0.18 |
+91.3% |
|
|
|
|
The figures in this document have not been
audited or reviewed by our external auditor
| |
Q2 2024 |
Q2 2023 |
% var |
| Number of
trading days |
63 |
62 |
|
|
Derivatives Volume (in lots) |
|
|
|
|
Equity |
35,317,815 |
31,359,961 |
+12.6% |
|
Index |
13,753,365 |
12,164,085 |
+13.1% |
|
Futures |
7,760,863 |
8,274,465 |
-6.2% |
|
Options |
5,992,502 |
3,889,620 |
+54.1% |
|
Individual Equity |
21,564,450 |
19,195,876 |
+12.3% |
|
Futures |
2,782,606 |
601,529 |
+362.6% |
|
Options |
18,781,844 |
18,594,347 |
+1.0% |
|
|
|
|
|
|
Commodity |
7,898,126 |
5,542,821 |
+42.5% |
|
Futures |
7,197,681 |
4,977,372 |
+44.6% |
|
Options |
700,445 |
565,449 |
+23.9% |
| |
|
|
|
|
Total Euronext |
43,215,941 |
36,902,782 |
+17.1% |
|
Total Futures |
17,741,150 |
13,853,366 |
+28.1% |
|
Total Options |
25,474,791 |
23,049,416 |
+10.5% |
|
|
|
|
|
|
Derivatives ADV (in lots) |
|
|
|
|
Equity |
560,600 |
505,806 |
+10.8% |
|
Index |
218,307 |
196,195 |
+11.3% |
|
Futures |
123,188 |
133,459 |
-7.7% |
|
Options |
95,119 |
62,736 |
+51.6% |
|
Individual Equity |
342,293 |
309,611 |
+10.6% |
|
Futures |
44,168 |
9,702 |
+355.2% |
|
Options |
298,125 |
299,909 |
-0.6% |
|
|
|
|
|
|
Commodity |
125,367 |
89,400 |
+40.2% |
|
Futures |
114,249 |
80,280 |
+42.3% |
|
Options |
11,118 |
9,120 |
+21.9% |
|
|
|
|
|
|
Total Euronext |
685,967 |
595,206 |
+15.2% |
|
Total Futures |
281,606 |
223,441 |
+10.9% |
|
Total Options |
404,362 |
371,765 |
-0.9% |
The figures in this document have not been
audited or reviewed by our external auditor
- Derivatives open
interest
| |
30 June 2024 |
30 June 2023 |
% var |
| Open
interest (in lots) |
|
|
|
| |
|
|
|
|
Equity |
21,383,008 |
21,544,679 |
-0.8% |
|
Index |
1,165,074 |
1,138,481 |
+2.3% |
|
Futures |
517,596 |
574,205 |
-9.9% |
|
Options |
647,478 |
564,276 |
+14.7% |
|
Individual Equity |
20,217,934 |
20,406,198 |
-0.9% |
|
Futures |
562,620 |
254,427 |
+121.1% |
|
Options |
19,655,314 |
20,151,771 |
-2.5% |
|
|
|
|
|
|
Commodity |
982,939 |
951,527 |
+3.3% |
|
Futures |
645,633 |
560,929 |
+15.1% |
|
Options |
337,306 |
390,598 |
-13.6% |
| |
|
|
|
|
Total Euronext |
22,365,947 |
22,496,206 |
-0.6% |
|
Total Futures |
1,725,849 |
1,389,561 |
24.2% |
|
Total Options |
20,640,098 |
21,106,645 |
-2.2% |
The figures in this document have not been
audited or reviewed by our external auditor
1 Definition in Appendix – adjusted for
non-underlying operating expenses excluding D&A and
non-underlying revenue and income.
2 Last twelve months reported and adjusted EBITDA
3 Like-for-like basis at constant currency
4 For the total adjustments performed please refer to
the Appendix of this press release.
- 2024_Euronext_PR_Q22024_vF
Euronext NV (TG:ENXB)
Historical Stock Chart
From Oct 2024 to Nov 2024
Euronext NV (TG:ENXB)
Historical Stock Chart
From Nov 2023 to Nov 2024
