Euronext, the pan-European exchange in the Eurozone, released its trading volumes for the first quarter of 2020. The exchange reports increased revenue across all sections compared to the first quarter of last year.
Total revenue for Q1 2020 reached €236.8 million, up by 55.2% compared to the same period last year when it was €152.6. Trading revenue was €111.8 million, making a 73.3% increase from Q1 2019. Post trading revenue doubled to €39.2 million, up by 109.3%.
EBITDA was at €150.0 million for Q1 2020, registering a 68.1% growth since Q12019. EBITDA margin at was at 63.4%, up by 4.9pts.
Euronext reported net income, share of the Group, for Q1 2020 of €96.1 million with 71.2% growth since Q1 last year.
Adjusted Earnings Per Share (EPS) was at €1.44 for Q1 2020, up by 65.3% from the same period last year.
Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
Euronext delivered a strong performance in the first quarter of 2020 with growth across all business lines, translating into significant increase in EBITDA and adjusted EPS. This performance reflects strong trading volumes in all asset classes and continued benefits from our diversification strategy. In this highly volatile environment, cash trading volumes increased by +53.2%. The Group reported a cash trading market share at 69.9% which highlights the important role of transparent market venues ensuring fair and orderly markets under extreme market conditions.
Boujnah continued:
In these market conditions, we continued to advance on our ‘Let’s Grow Together 2022’ strategic plan, with the acquisition of VP Securities, the Danish CSD, that will position Euronext both as a leading CSD operator in Europe, and as a leading market infrastructure in the Nordic region. This acquisition will allow us to pursue the diversification of our topline and represents a new milestone towards our ambition of building the leading pan-European market infrastructure
| Key figures – in €m, unless stated otherwise |
Q1 2020 |
Q1 2019 |
% var |
Organic (like-for-like, constant currency) |
| Revenue |
236.8 |
152.6 |
+55.2% |
+29.5% |
| Operational expenses excluding D&A |
-86.7 |
-63.3 |
+37.0% |
+4.0% |
| EBITDA |
150.0 |
89.3 |
+68.1% |
+47.7% |
| EBITDA margin |
63.4% |
58.5% |
+4.9 pts |
+8.2 pts |
| Net income, share of the Group |
96.1 |
56.1 |
+71.2% |
|
| EPS (adjusted) |
1.44 |
0.87 |
+65.3% |
|
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