Euronext publishes Q2 2021 results

Euronext publishes Q2 2021 results

Q2 2021 robust efficiency ensuing from natural development pushed by report itemizing and post-trade exercise, and from the Borsa Italiana Group acquisition

Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 29 July 2021 – Euronext, the main pan-European market infrastructure, at this time publishes its results for the second quarter of 2021, pushed by sturdy natural development because of a powerful efficiency in itemizing and post-trade companies and the primary consolidation with Borsa Italiana Group results since its acquisition on 29 April 2021.

  • Revenue and earnings at €328.8 million (+118.0 million, +56.0% and +3.5% like-for-like1):
    • Borsa Italiana Group contributed €89.6 million to income for two months and a pair of days.
    • Post-trade income grew to €83.4 million (+130.9%), as a result of robust efficiency of the 2 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 actions of the Italian CCP, CC&G. Net treasury earnings generated by CC&G was €9.6 million.
    • Trading income grew to €112.8 million (+26.1%), primarily pushed by the consolidation of Borsa Italiana capital markets and sturdy yield. Fixed earnings buying and selling income elevated to €17.3 million, pushed by double-digit development in MTS money buying and selling actions.
    • Listing income grew to €48.2 million (+33.6%), ensuing from report itemizing exercise for equities with 62 new listings, and for ETFs, along with the continued development of Euronext Corporate Services, and the consolidation of the Borsa Italiana Group.
    • Advanced Data Services income grew to €46.5 million (+29.7%) as a result of resilience of core actions and the consolidation of the Borsa Italiana Group.
    • Non-volume associated income accounted for 56% of Q2 2021 complete income (vs. 49% in Q2 2020) and coated 137% of working bills, 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) regardless of integration prices; EBITDA margin like-for-like at 59.2%:
    • Operating bills, excluding D&A, grew to €135.9 million (+59.3%) on account of the consolidation of prices from acquired companies, for €41.2 million, and prices associated to the mixing of the Borsa Italiana Group, as beforehand introduced.
    • VP Securities run-rate money price synergies amounted to €7.6 million at finish June 2021, representing 109% of focused price synergies.
  • Reported net earnings, share of the Group, at €86.6 million (+5.6%):
    • Exceptional gadgets have been €26.0 million and internet financing bills have been €13.0 million, primarily associated to the Borsa Italiana Group transaction.
    • Income tax price was 29.6%, impacted by non-deductible distinctive gadgets.
  • Adjusted EPS2 at 1.43 (+26.8%)3.
Key figures in €m, until acknowledged in any other case Q2 2021 Q2 2020 % change % change
(like-for-like, fixed currencies)
Revenue 328.8 210.7 +56.0% +3.5%
Operational bills 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 earnings, 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, stated:

Euronext reported a stable efficiency within the second quarter of 2021 with an EBITDA margin of 58.7% and 26.8% development in adjusted EPS. This development results from sturdy natural efficiency with report itemizing exercise in equities and ETFs, our fast-growing post-trade enterprise within 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 fairness listings, confirming our place because the main itemizing venue in Europe for development financing. Borsa Italiana income development was primarily pushed by the exceptional efficiency of MTS fastened earnings exercise.
During this second quarter of 2021, we obtaind the focused synergies for VP Securities, solely 11 months after closing. With this new milestone, we have fulld, well forward of schedule, the integration plan for our latest Nordic acquisitions.
Since the closing of the acquisition of the Borsa Italiana Group, teams throughout the core Euronext companies and the Borsa Italiana Group are working along with enthusiasm to construct the main pan-European market infrastructure.
We are actively getting ready the announcement of the new Euronext strategic plan, together with 2024 Group guidances, which we will launch in November 2021.

Euronext Q2 2021 monetary efficiency

In €m, until acknowledged in any other case

The figures on this doc haven’t been audited or reviewed by our exterior auditor.

Q2 2021 Q2 2020 % change % change
(like-for-like, fixed currencies)
Revenue and earnings 328.8 210.7 +56.0% +3.5%
Listing 48.2 36.1 +33.6% +9.5%
Trading income 112.8 89.4 +26.1% -6.0%
o/w Cash buying and selling 70.1 64.5 +8.7% -6.7%
o/w Derivatives buying and selling 13.1 11.0 +18.3% +0.6%
o/w Fixed earnings buying and selling 17.3 0.6 +2672.1% -28.8%
o/w Spot FX buying and selling 5.7 6.6 -13.5% -5.3%
o/w Power buying and selling 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 different Post-trade 56.8 20.5 +176.8% +16.9%
Euronext Technologies & Other income 22.9 11.9 +92.8% +4.2%
Net treasury earnings by means of CCP Business 9.6 0.0 n/a n/a
Other earnings 1.4 -0.2 n/a n/a
Transitional income 1.9 0.0 n/a n/a
Operational bills excluding D&A -135.9 -85.3 +59.3% +5.3%
o/w Salaries and worker advantages -69.4 -47.8 +45.1% +7.6%
o/w Other bills -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 revenue earlier than distinctive gadgets 162.4 111.8 +45.3% +2.5%
Exceptional gadgets -26.0 -0.3 n/a  
Operating revenue 136.4 111.4 +22.4%  
Net financing earnings / (expense) -13.0 -2.5 +414.5%  
Results from fairness investments 2.3 2.3 +1.6%  
Profit earlier than earnings tax 125.7 111.2 +13.1%  
Income tax expense -37.2 -27.9 +33.1%  
Share of non-controlling pursuits -1.9 -1.2 +59.4%  
Net earnings, 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 income and earnings elevated to €328.8 million, up +56.0%, primarily ensuing from (i) natural development in itemizing and post-trade, partially offsetting decrease buying and selling income in comparison with Q2 2020 and (ii) from the consolidation of the Borsa Italiana Group since 29 April 2021 (2 months and a pair of days) and of VP Securities. MTS fastened earnings money buying and selling recorded double digit development this quarter. On a like-for-like foundation and at fixed currencies, Euronext consolidated income and earnings was up +3.5% in Q2 2021, at €219.2 million, in comparison with Q2 2020 which was marked by excessive volatility ranges.

Non-volume associated income accounted for 56% of complete Group income in Q2 2021, rising from 49% of complete Group income in Q2 2020, reflecting the expanded post-trade enterprise. The working price protection ratio was at 137% in Q2 2021, in comparison with 122% in Q2 2020.

EBITDA

Operational bills excluding depreciation & amortisation elevated to €135.9 million, up +59.3%, primarily on account of the consolidation of the prices from the Borsa Italiana Group, VP Securities, Ticker and 3Sens for €41.2 million, in addition to integration prices. On a like-for-like foundation, operational bills excluding depreciation & amortisation elevated by +5.3% in comparison with Q2 2020, primarily reflecting elevated employees prices.

Consequently, EBITDA for the quarter was up at €192.9 million, representing an EBITDA margin of 58.7%, down -0.8 factors in comparison with Q2 2020, regardless of integration exercise. On a like-for-like foundation, EBITDA for Q2 2021 was up +2.4%, to €129.7 million, and EBITDA margin was 59.2%, down -0.7 factors in comparison with the identical perimeter in Q2 2020.

Net earnings, share of the Group

Depreciation and amortisation accounted for €30.5 million in Q2 2021, up +123.7%, ensuing primarily from the consolidation of the Borsa Italiana Group, together with its associated PPA for €9.3 million (for two months of consolidation). On a like-for-like foundation, depreciation & amortisation was up +1.0% in comparison with Q2 2020 at €14.0 million.

Operating revenue earlier than distinctive gadgets was €162.4 million, a +45.3% enhance in comparison with Q2 2020. On a like-for-like foundation, working revenue earlier than distinctive gadgets was up +2.5% in comparison with Q2 2020, at €115.7 million.

€26.0 million of remarkable prices was reported in Q2 2021, primarily associated to the Borsa Italiana Group transaction, as introduced within the 2020 Universal Registration Document.

Net financing expense for Q2 2021 was €13.0 million in comparison with a internet financing expense of €2.5 million in Q2 2020. This enhance primarily results from the prices associated to the financing of the acquisition of the Borsa Italiana Group, as introduced in 2020 Universal Registration Document.

Results from fairness investments amounted to €2.3 million in Q2 2021, reflecting the contribution from LCH SA, wherein Euronext owns an 11.1% stake and an interim dividend obtained from Sicovam offsetting an impairment. As a reminder, in Q2 2020, Euronext reported €2.3 million of results from fairness investments solely reflecting the contribution from LCH SA.

Income tax for Q2 2021 was €37.2 million. This translated into an efficient tax price of 29.6% for the quarter (Q2 2020: €27.9 million and 25.1% respectively), impacted by non-deductible distinctive prices.

Share of non-controlling pursuits primarily referring to the Borsa Italiana Group and Nord Pool amounted to €1.9 million in Q2 2021.

As a end result, the reported internet earnings share of the Group for Q2 2021 elevated by +5.6% in comparison with Q2 2020, to €86.6 million. This represents a reported EPS of €0.88 fundamental and €0.88 totally diluted in Q2 2021, in comparison with €1.08 fundamental and €1.08 totally diluted in Q2 20204. The variety of shares used was 85,094,834 for the essential calculation and 85,290,349 for the totally diluted calculation5.

Adjusted EPS is up +26.8% in Q2 2021, at €1.43, in comparison with an adjusted EPS of €1.13 in Q2 2020.

In Q2 2021, Euronext reported a internet money stream from working actions of -€1.3 million, in comparison with €80.6 million in Q2 2020, reflecting larger adverse modifications in working capital and better earnings tax paid.

Q2 2021 Business highlights

Listing

in €m, until acknowledged in any other case Q2 2021 Q2 2020 % change
Listing income 48.2 36.1 +33.6%
Equity 21.0 15.3 +37.0%
Annual charges 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 income was €48.2 million in Q2 2021, a rise of +33.6% in comparison with Q2 2020, pushed by the robust efficiency of Euronext Corporate Services, report exercise in fairness itemizing and constructive traction of ESG bond itemizing. On a like-for-like foundation at fixed currencies, itemizing income elevated by +9.5% in comparison with Q2 2020. Euronext confirmed its place because the main itemizing venue place in Europe, with 103 listings in H1 2021, 62 out which came about in Q2 2021.

The second quarter of 2021 noticed the robust major fairness itemizing dynamic proceed, with 62 new listings on Euronext, together with three massive firm listings (Allfunds, Aramis and Believe) and eight SPACs. In addition, Euronext continued to display its robust worth proposition for modern corporations with a majority of listings by tech corporations. In Q2 2021, €7.1 billion was raised on Euronext major markets, and doubled, in comparison with €3.5 billion in Q2 2020.

Euronext was the main trade in Europe for the itemizing of ETFs, for the second quarter in a row.

Secondary markets reported a stable second quarter of 2021, with €32.0 billion raised in secondary fairness points, in comparison with €16.4 billion in Q2 2020.

Debt itemizing exercise was stable in Q2 2021, notably supported by the continued momentum in ESG bond itemizing. In Q2 2021, €405.4 billion in debt was raised on Euronext’s markets, in comparison with €387.1 billion in Q2 2020.

In complete, €444.5 billion in fairness and debt was raised on Euronext’s markets in Q2 2021, in comparison with €407.0 billion in Q2 2020.

Euronext Corporate Services reported a powerful efficiency, producing €10.4 million in income in Q2 2021, up +31.2% in comparison with €7.9 million in Q2 2020. This efficiency results from continued business improvement and an enhanced digital providing assembly excessive demand for digital options.

Trading

in €m, until acknowledged in any other case Q2 2021 Q2 2020 % change
Trading income 112.8 89.4 +26.1%
Cash buying and selling income 70.1 64.5 +8.7%
ADV Cash market 11,255 12,397 -9.2%
       
Derivatives buying and selling income 13.1 11.0 +18.3%
ADV Derivatives market (in heaps) 766,134 803,823 -4.7%
       
Fixed earnings buying and selling income6 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 different fastened earnings 960 1,541 -37.7%
       
Spot FX buying and selling income 5.7 6.6 -13.5%
ADV spot FX Market (in USDm) 18,617 20,629 -9.8%
       
Power buying and selling income 6.6 6.7 -0.4%
ADV Day-ahead energy market (in TWH) 2.17 2.32 -6.3% 
ADV Intraday energy market (in TWH) 0.07 0.07 +10.2% 

Trading income on a reported foundation (Q2 2020 excludes Borsa Italiana Group income). All buying and selling volumes knowledge on a professional forma foundation to incorporate the Borsa Italiana Group buying and selling actions. 2020 knowledge has been restated accordingly

Cash buying and selling income elevated by +8.7% to €70.1 million in Q2 2021 on account of the consolidation of the money buying and selling actions of Borsa Italiana and sturdy yield, offsetting decrease buying and selling volumes in comparison with Q2 2020 which recorded distinctive buying and selling situations. During the second quarter of 2021, on a professional forma foundation, the money market recorded common every day volumes of €11.3 billion, down -9.2% in comparison with Q2 2020, which was exceptionally unstable.

Excluding Borsa Italiana money markets, Euronext market share remained robust in the course of the second quarter of 2021, averaging 68.3%.

Excluding Borsa Italiana money buying and selling actions, Euronext yield was 0.57 bps within the second quarter of 2021. On a professional forma foundation and contemplating the total second quarter of 2021 for Borsa Italiana, the common yield was 0.52 bps.

On a like-for-like foundation at fixed currencies, money buying and selling income was down -6.7% in Q2 2021 in comparison with Q2 2020.

Derivatives buying and selling income elevated by +18.3% to €13.1 million in Q2 2021 on account of the consolidation of Borsa Italiana derivatives buying and selling actions and of a report second quarter for commodity derivatives buying and selling. During the second quarter of 2021, on a professional forma foundation, common every day volumes on monetary derivatives was 691,458 heaps, down -7.9% from Q2 2020, reflecting decrease volatility and common every day volumes on commodity derivatives was 74,676 heaps, up +41.3% from Q2 2020 reflecting profitable geographical and shopper expansions.

Excluding Borsa Italiana derivatives buying and selling actions, Euronext income seize on derivatives buying and selling was €0.26 per lot. On a professional forma foundation and contemplating the total second quarter of 2021 for Borsa Italiana, the common income seize was €0.28 per lot.

On a like-for-like foundation at fixed currencies, derivatives buying and selling income was up +0.6% in Q2 2021 in comparison with Q2 2020.

Fixed earnings buying and selling reported income at €17.3 million in Q2 2021, in comparison with €0.6 million in Q2 2020, ensuing from the consolidation of MTS for two months and a pair of days. On a like-for-like foundation at fixed currencies, fastened earnings buying and selling income (solely Euronext perimeter) was down -28.8% in Q2 2021 in comparison with Q2 2020.

For 2 months and a pair of days of consolidation in Q2 2021, MTS Cash generated €12.5 million in income and MTS Repo generated €3.2 million in income. For the total second quarter of 2021, on a like-for-like foundation at fixed currencies, MTS Cash reported income development of +52.2% whereas MTS Repo reported a income lower of -1.6% reflecting decrease buying and selling volumes. The robust MTS efficiency displays the constructive momentum in money bonds buying and selling supported by better adoption of digital buying and selling options throughout merchandise in addition to regular volumes of issuances and stimulus to help the European financial system.

FX buying and selling reported income at €5.7 million in Q2 2021, down -13.5% from Q2 2020, reflecting decrease FX buying and selling volumes in a low volatility surroundings. Over the second quarter of 2021, US$18.6 billion common every day volumes have been recorded, down -9.8% in comparison with Q2 2020.

On a like-for-like foundation at fixed currencies, Spot FX buying and selling income was down -5.3% in Q2 2021 in comparison with Q2 2020.

Power buying and selling reported €6.6 million in income in Q2 2021, secure in comparison with Q2 2020 as decrease buying and selling volumes have been offset by international trade impression. Over the second quarter of 2021, common every day day-ahead energy traded was 2.17TWh, down -6.3% in comparison with Q2 2020, and common every day intraday energy traded was 0.07TWh, up +10.2% in comparison with Q2 2020.

On a like-for-like foundation at fixed currencies, energy buying and selling income was down -8.8% in comparison with Q2 2020.

Investor Services

Investor Services reported income up +29.8% to €2.2 million in Q2 2021 reflecting its continued business improvement.

On a like-for-like foundation at fixed currencies, Investor Services income was up +36.9% in comparison with Q2 2020.

Advanced Data Services

Advanced Data Services income was €46.5 million in Q2 2021, up +29.7% from Q2 2020, pushed by a resilient market knowledge enterprise and the consolidation of the varied Borsa Italiana Group knowledge actions.

On a like-for-like foundation at fixed currencies, Advanced Data Services income was up +1.4% in comparison with Q2 2020.

Post Trade

in €m, until acknowledged in any other case Q2 2021 Q2 2020 % var
Post-trade income and earnings       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 earnings by means of CCP enterprise          9.6 n/a
Custody, Settlement and different Post-trade 56.8 20.5 +176.8%

Clearing income was up +70.6% to €26.6 million in Q2 2021, on account of larger clearing income and treasury earnings obtained from LCH SA and the consolidation of CC&G actions and. In Q2 2021, for 2 months and a pair of days of consolidation, CC&G income included €1.0 million from derivatives clearing, €3.0 million from equities clearing, €1.4 million from bonds clearing and €2.4 million of different income.

For the total second quarter of 2021, on a like-for-like foundation at fixed currencies, CC&G reported secure income in comparison with Q2 2020.

On a like-for-like foundation at fixed currencies, clearing income was up +20.6% in comparison with Q2 2020.

Net treasury earnings by means of the CCP enterprise of CC&G was €9.6 million in Q2 2021.

  • Custody, Settlement and different Post-trade

Custody, Settlement and different Post-trade income, encompassing the actions of the Euronext CSDs (Interbolsa, Euronext VPS, VP Securities, Monte Titoli), was €56.8 million in Q2 2021, up +176.8% from Q2 2020, on account of the robust efficiency of the 2 Nordic CSDs, Euronext VPS in Norway and VP Securities in Denmark, and the consolidation of the Italian CSD, Monte Titoli. This efficiency consists of €13.5 million of income contribution from Monte Titoli (for two months and a pair of days of consolidation) and €19.4 million of income contribution from VP Securities.

On a professional forma foundation, the 4 CSDs operated by Euronext reported 33.1 million of settlement directions in the course of the second quarter of 2021 and the full asset beneath custody on the finish of June 2021 was €6.3 trillion.

On a like-for-like foundation at fixed currencies, Custody, Settlement and different Post-trade income was up +16.9% in comparison with Q2 2020.

Euronext Technologies and different income

Euronext Technologies and different income was €22.9 million in Q2 2021, up +92.8% from Q2 2020 on account of the consolidation of the expertise companies of the Borsa Italiana Group, together with Gatelab and X2M and of robust SFTI/Colocation income.

On a like-for-like foundation at fixed currencies, Euronext Technologies and Other income was up +4.2% in comparison with Q2 2020.

Corporate highlights of Q2 2021 since publication of the Q1 2021 results on 29 April 2021

Euronext launched its share capital enhance by means of a rights provide of roughly €1.8bn as a part of the Financing of the Acquisition of Borsa Italiana

Following the announcement of a binding settlement with London Stock Exchange Group plc and London Stock Exchange Group Holdings (Italy) Limited (the “Seller”) to amass your entire issued share capital of London Stock Exchange Group Holdings Italia SPA, the holding firm of the Borsa Italiana Group (the “Combination”) on 9 October 2020, the announcement of the completion of the Combination and of a reserved capital enhance by means of a personal placement (the “Private Placement”) to CDP Equity and Intesa Sanpaolo on 29 April 2021, Euronext introduced on 30 April 2021, the launch of a rights provide for an quantity of roughly €1.8bn (together with share premium).

The Offer was a part of a complete fairness financing bundle of roughly ~€2.4bn that additionally included the Private Placement with complete proceeds of ~€0.6bn. Euronext used the online proceeds of the Offer to repay a portion of the bridge amenities which have been used to fund the money 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 knowledgeable of the profitable completion of a placement of ex-right shares in Euronext by two of its fundamental shareholders, Euroclear SA/NV and Société Fédérale de Participations et d’Investissement/Federale Participatie- en Investeringsmaatschappij (“SFPI-FPIM”). This transaction geared toward financing their subscription to the Euronext rights provide introduced on 29 April 2021.

As indicated within the Rights Offer documentation, Euroclear and SFPI-FPIM supposed to take part within the Rights Offer in a money impartial transaction by promoting a part of their shares and/or rights with a purpose to increase ample money proceeds (much less prices and bills and any taxes arising on such gross sales) to cowl the price of taking over rights within the Rights Offer completely with the proceeds of the location. Both have dedicated to Euronext to use these internet proceeds to subscribe and pay for provide shares within the Rights Offer by exercising rights granted to them.

After the settlement and supply of the Rights Offer, Euroclear SA/NV and SFPI-FPIM personal respectively 5.6% and three.2% of the Euronext share capital and proceed to be a part of the Reference Shareholder group, and stay dedicated to help the long-term development technique of Euronext.

In reference to the Rights Offer, Euroclear SA/NV and SFPI-FPIM have undertaken that, topic to sure exceptions, that they won’t eliminate any Euronext shares for a interval ending 90 days after the settlement of the Rights Offer.

Successful launch of a €1.8 billion bond subject

On 7 May 2021, Euronext introduced that it had efficiently priced a three-tranche senior bond providing representing a complete quantity of €1.8bn.

The bonds have been admitted to buying and selling on the regulated market of Euronext Dublin as of 17 May 2021 and are rated BBB by S&P. As effectively as on different digital buying and selling platforms, the 5, 10 and 20-year bonds can be found for buying and selling on the MTS BondVision and MTS BondsProfessional venues, that are a part of the Euronext product suite following the acquisition of Borsa Italiana Group. The bonds have been settled by means of VP Securities, Euronext’s Danish CSD.

The fundamental options of the difficulty are as follows:

  • Tranche 1: 5-year bond value €600 million (maturing on 17 May 2026), with an annual coupon of 0.125% (ISIN: DK0030485271)
  • Tranche 2: 10-year bond value €600 million (maturing on 17 May 2031), with an annual coupon of 0.750% (ISIN: DK0030486402)
  • Tranche 3: 20-year bond value €600 million (maturing on 17 May 2041), with an annual coupon of 1.500% (ISIN: DK0030486592)

The remaining order guide reached an quantity of c. €5 billion and was greater than 2.7 instances oversubscribed. The success of this transaction illustrates buyers’ robust confidence in Euronext’s development ambitions, technique and stable credit score profile.

The providing allowed Euronext to increase its maturity profile and additional diversify its debt investor base.

The internet proceeds of the difficulty have been used to partially refinance the acquisition of the Borsa Italiana Group, accomplished on 29 April 2021 for a remaining consideration of €4,444 million8.

Euronext 2021 Annual General Meeting

The 2021 Euronext Annual General Meeting was held on 11 May 2021. All gadgets on the agenda have been accredited. Items on the Annual General Meeting agenda and associated info could be discovered at: https://www.euronext.com/en/investor-relations/financial-calendar/annual-general-meeting-11052021

Euronext publicizes the sale of Oslo Market Solutions

On 4 June 2021, Euronext introduced that it had accomplished the sale of Oslo Market Solutions (“OMS”) to Infront, a number one European supplier of economic market options. OMS is an internet market knowledge, investor relations, portfolio and buying and selling options supplier within the Nordic area and was acquired in 2019 as a part of the acquisition of Oslo Børs VPS. OMS generated c. €3.3 million of income in 2020.

Based on Euronext’s 2020 full-year results, the sale of OMS would account for a rise of c.+0.2 pts to Euronext EBITDA margin. This will translate in 2021 as an extra price discount in comparison with the mid-single digit lower in working prices excluding D&A anticipated in 2021.

Corporate highlights since 30 June 2021

Half-year assertion of the liquidity contract of Euronext NV

Euronext introduced on 6 July 2021 that the transactions carried out beneath the liquidity contract entered between Euronext NV and Rothschild Martin Maurel for the interval ending 30 June 2021 resulted within the following property showing within the liquidity account:

  • 2,850 Euronext NV shares
  • 7,362,291 euros
  • Number of Buy transaction over the interval: 5,865
  • Number of Sell transaction over the interval: 5,958
  • Volume traded referring to Buy transactions over the interval: 447,315 shares for 39,220,040 euros
  • Volume traded referring to Sell transactions over the interval: 444,465 shares for 38,892,428 euros

As a reminder, on 31 December 2020, the next assets have been allotted to the liquidity account:

  • 0 Euronext NV shares
  • 7,669,989 euros

Agenda

A convention name and a webcast might be held on 30 July 2021, at 09.00am CEST (Paris time) / 08.00am BST (London time):

Conference name:

To connect with the convention name, 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 dwell webcast go to: Link to webcast

The webcast might be accessible for replay after the decision on the webcast hyperlink 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 [email protected]
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 [email protected]  

About Euronext
Euronext is the main pan-European market infrastructure, connecting native economies to world capital markets, to speed up innovation and sustainable development. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With near 1,900 listed issuers value €6.4 trillion in market capitalisation as of finish June 2021, it has an unmatched blue chip franchise and a powerful various home and worldwide shopper base. Euronext operates regulated and clear fairness and derivatives markets, one in every of Europe’s main digital fastened earnings buying and selling markets and is the biggest centre for debt and funds listings on this planet. Its complete product providing consists of Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext additionally leverages its experience in operating markets by offering expertise and managed providers to 3rd events. In addition to its fundamental regulated market, it additionally operates quite a lot of junior markets, simplifying entry to itemizing for SMEs. Euronext gives custody and settlement providers by means of central securities depositories in Denmark, Italy, Norway and Portugal.

For the most recent information, go to euronext.com or observe us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

Disclaimer
This press launch is for info functions solely: it isn’t a suggestion to interact in funding actions and is offered “as is”, with out illustration or guarantee of any form. While all cheap care has been taken to make sure the accuracy of the content material, Euronext doesn’t assure its accuracy or completeness. Euronext is not going to be held accountable for any loss or damages of any nature ensuing from utilizing, trusting or performing on info offered. No info set out or referred to on this publication could also be considered creating any proper or obligation. The creation of rights and obligations in respect of economic merchandise which can be traded on the exchanges operated by Euronext’s subsidiaries shall rely solely on the relevant guidelines of the market operator. All proprietary rights and curiosity in or related with this publication shall vest in Euronext. This press launch speaks solely as of this date. Euronext refers to Euronext N.V. and its associates. Information relating to logos and mental property rights of Euronext is accessible at www.euronext.com/terms-use.

© 2021, Euronext N.V. – All rights reserved. 

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Appendix

Non-IFRS monetary measures

For comparative functions, the corporate gives unaudited non-IFRS measures together with:

  • Operational bills excluding depreciation and amortisation
  • EBITDA, EBITDA margin.
  • Non-IFRS measures are outlined as follows:
  • Operational bills excluding depreciation and amortisation as the full of wage and worker advantages, and different operational bills
  • EBITDA because the working revenue earlier than distinctive gadgets and depreciation and amortisation
  • EBITDA margin because the working revenue earlier than distinctive gadgets and depreciation and amortisation, divided by complete income and earnings.

Non-IFRS monetary measures should not meant to be thought of in isolation or as an alternative choice to comparable IFRS measures and needs to be learn solely together with the consolidated monetary statements.

Adjusted EPS definition

In €m until acknowledged in any other case Q2 2021 Q2 2020
Net earnings reported 86.6 82.1
EPS Reported (€ per share) 0.88 1.08
Intangible property adj. associated to acquisitions (PPA) 15.7 4.8
Exceptional gadgets 26.0 0.3
Impairment 4.3  
Exceptional financing expense 8.9  
Tax associated to these gadgets 6.9 1.1
Adj. internet earnings 134.7 86.0
Adj. EPS (€ per share) 1.43 1.13

Consolidated earnings assertion

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 income, 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 & different income 22.9 11.9 +92.8% +4.2%
NTI by means of CCP enterprise 9.6 n/a n/a
Other earnings 1.4 (0.2) n/a n/a
Transitional revenues 1.9 n/a n/a
         
Operating bills exc. D&A        (135.9) (85.3) +59.3% +5.3%
Salaries and worker advantages (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 bills (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 earlier than Exceptional gadgets          162.4 111.8 +45.3% +2.5%
         
Exceptional gadgets (26.0) (0.3) +7462.1%  
Operating Profit 136.4 111.4 +22.4%  
Net financing earnings / (expense) (13.0) (2.5) +414.5%  
Results from fairness investments 2.3 2.3 +1.6%  
Profit earlier than earnings tax 125.7 111.2 +13.1%  
Income tax expense (37.2) (27.9) +33.1%  
Minority pursuits (1.9) (1.2) +59.4%  
Profit for the interval 86.6 82.1 +5.6%  
         
EPS (fundamental, reported, in €) 0.88 1.08 -18.2%  
EPS (diluted, reported, in €) 0.88 1.08 -18.3%  
EPS (fundamental, adjusted, in €) 1.43 1.13 +26.8%  

The figures on this doc haven’t been audited or reviewed by our exterior auditor

Consolidated complete earnings assertion

     
In €m until acknowledged in any other case Q2 2021 Q2 2020
Profit for the interval 88.6 83.3
     
Other complete earnings    
Items which may be reclassified to revenue or loss:    
– Exchange variations on translation of international operations (16.5) 39.6
– Change in worth of debt investments at honest worth by means of different complete earnings (0.1)
– Income tax impression on trade variations on translation of international operations 1.9 (3.6)
– Income tax impression on change in worth of debt investments at honest worth by means of
different complete earnings
0.0
     
Items that won’t be reclassified to revenue or loss:    
– Change in worth of fairness investments at honest worth by means of different complete earnings 3.6 1.8
– Income tax impression on change in worth of fairness investments at honest worth by means of
different complete earnings
(0.7) (0.3)
– Remeasurements of post-employment profit obligations 3.4 (1.1)
– Income tax impression on remeasurements of post-employment profit obligations (0.4) 0.3
Other complete earnings for the interval, internet of tax             (8.8) 36.7
Total complete earnings for the interval             79.8 119.9
     
Comprehensive earnings attributable to:    
– Owners of the mother or father 78.1 117.9
– Non-controlling pursuits 1.7 2.1

The figures on this doc haven’t been audited or reviewed by our exterior auditor.

Consolidated stability sheet

unaudited, in €m As at 30/06/21 As at 31/03/21
Non-present property    
Property, plant and gear 78.7 56.4
Right-of-use property 72.5 43.0
Goodwill and different intangible property                 6,125.0 1,568.4
Deferred earnings tax property 33.1 21.5
Investments in associates and JV                      71.8 70.7
Financial property at honest worth by means of OCI                    258.4 204.5
Other non present property 3.8 7.5
Total non-present property 6,643.2 1,972.0
     
Current property    
Trade and different receivables 381.4 299.0
Income tax receivable 11.1 2.9
Derivative monetary devices 18.3 23.7
CCP clearing enterprise property 132,243.9
Other short-term monetary property                    161.4 104.0
Cash & money equivalents 620.5 759.2
Total present property 133,436.6 1,188.8
     
Total property 140,079.7 3,160.7
     
Equity    
Shareholders’ fairness 3,441.8 1,148.4
Non-controlling pursuits 81.1 21.6
Total Equity 3,522.8 1,170.0
     
Non-present liabilities    
Borrowings 3,049.2 1,272.6
Lease liabilities 53.5 31.9
Deferred earnings tax liabilities 534.1 99.8
Post employment advantages 31.0 27.2
Contract liabilities 64.2 48.5
Other provisions 10.5 13.0
Other non-current liabilities 0.0
Total Non-present liabilities 3,742.6 1,493.0
     
Current liabilities    
Borrowings 83.4 12.6
Lease liabilities 24.2 16.3
Derivative monetary devices 0.0 0.0
CCP clearing enterprise liabilities 132,219.1
Income tax payable 51.3 44.8
Trade and different 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 fairness and liabilities 140,079.7 3,160.7

The figures on this doc haven’t been audited or reviewed by our exterior auditor.

Consolidated assertion of money flows

unaudited, in €m Q2 2021 Q2 2020
Profit earlier than tax 125.7 111.2
Adjustments for:    
– Depreciation and amortization 30.5 13.6
– Share based mostly funds 2.5 2.5
– Share of revenue from associates and joint ventures               1.1 (2.3)
– Changes in working capital (83.5) (19.0)
     
Cash stream from working actions            76.2 106.0
Income tax paid (77.5) (25.4)
Net money flows from working actions            (1.3) 80.6
     
Cash stream from investing actions    
Acquisition of subsidiaries, internet of money acquired       (4,127.2) (1.5)
Proceeds from disposal of subsidiary               2.6
Purchase of present monetary property            (17.4) (13.9)
Redemption of present monetary property             31.9 3.0
Purchase of property, plant and gear             (2.3) (0.7)
Purchase of intangible property (8.9) (1.2)
Proceeds from sale of Property, plant, gear and intangible property             (0.1) 0.0
Dividends obtained from fairness investments               3.4
     
Net money stream from investing actions     (4,118.0) (14.4)
     
Cash stream from financing actions    
Proceeds from borrowings, internet of transaction charges         5,472.8 255.7
Repayment of borrowings, internet of transaction charges       (3,682.9)
Interest paid (15.1) (10.7)
Interest obtained 5.0 4.9
Share capital compensation 2,373.4
Payment of lease liabilities (5.7) (5.1)
Acquisition of personal shares (0.1) 0.6
Employee Share transactions (3.8) (1.8)
Dividends paid to the corporate’s shareholders          (157.2) (110.6)
Dividends paid to non-controlling pursuits             (2.5) (4.4)
     
Net money stream from financing actions       3,984.0 128.5
     
Total money stream over the interval        (135.3) 194.8
Cash and money equivalents – Beginning of interval           759.2 418.8
Non Cash trade positive aspects/(losses) on money and money equivalents             (3.3) 8.8
Cash and money equivalents – End of interval          620.5 622.3

The figures on this doc haven’t been audited or reviewed by our exterior auditor.

Volumes for the second quarter of 2021

  Q2 2021 Q2 2020 % var
Number of buying and selling days 63 62  
Number of transactions (purchase and sells) (inc. reported trades)    
Total money market 209,001,506 239,575,974 -12.8%
ADV money market 3,317,484 3,864,129 -14.1%
Transaction worth (€ million, single counted)      
Total money market 709,089 768,591 -7.7%
ADV money 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 major and secondary market      
Total Euronext (in €m excepted for variety of new listings)      
Number of latest fairness listings 62 14  
Money Raised – New fairness 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 variety of new listings)      
Number of latest fairness listings 58 12  
Money Raised – New fairness 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 worth (€ 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 earnings 960 1,541 -37.7%
  Q2 2021 Q2 2020 % var
Number of buying and selling days 65 65  
FX quantity ($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 buying and selling days 91 91  
Power quantity (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 buying and selling days 63 62  
Derivatives Volume (in heaps)      
       
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 heaps)      
       
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 curiosity12
  Q2 2021 Q2 2020 % var
Open curiosity (in heaps)      
       
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 income at fixed currencies exclude in Q2 2020 and Q2 2021 VP Securities, the Borsa Italiana Group, 3Sens, Ticker, OMS and Centevo in addition to associated integration prices
2 Definition in appendix
3 Weighted common variety of shares at 85,094,834 for H1 2021, H1 2020 excellent shares adjusted for the rights subject to 76,121,437 shares
Unless specified in any other case, percentages seek advice from Q2 2021 knowledge in comparison with Q2 2020 knowledge
4 Number of excellent shares utilized in 2020 adjusted for the rights subject to issue within the bonus component at 76,121,437 shares
5 Number of excellent shares used to compute H1 2021 EPS
6 Prior to the acquisition of the Borsa Italiana Group, Euronext fastened earnings buying and selling income was included in money buying and selling income. Data for Q2 2020 has been restated accordingly.
Prior to the acquisition of the Borsa Italiana Group, Euronext fastened earnings buying and selling income was included into money buying and selling income. Data for Q2 2020 was restated accordingly.

8 Including extra quantity reflecting the money generated since 30 June 2020 and share of W&I insurance coverage borne by London Stock Exchange Group plc
9 Q2 2021 knowledge is revealed on a professional forma foundation to incorporate the buying and selling actions of the Borsa Italiana Group. Q2 2020 knowledge has been restated accordingly.
10 Cash Market consists of shares, warrants, ETFs. Following the acquisition of the Borsa Italiana Group, Euronext fastened earnings buying and selling exercise is now reported beneath Fixed earnings markets. 2020 knowledge has been restated accordingly
11Q2 2021 knowledge is revealed on a professional forma foundation to incorporate the buying and selling actions of the Borsa Italiana Group. Q2 2020 knowledge has been restated accordingly.
12 Q2 2021 knowledge is revealed on a professional forma foundation to incorporate the buying and selling actions of the Borsa Italiana Group. Q2 2020 knowledge has been restated accordingly.

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