Amsterdam, Brussels, Lisbon, London and Paris – 25 February 2015 – Euronext today announced its results for the full year of 2014.
- Third party annual revenue increased by +9.0% on an adjusted basisto €458.5 million (FY 2013 adjusted: €420.5 million), or +18.6% on a reported basis (FY 2013 reported: €386.7 million)
- Substantial reduction in operational expenses excluding depreciation and amortization: -11.4% compared to FY 2013 adjusted1(decrease by -5.2% compared to FY 2013 reported)
- Full-year EBITDA margin of 45.8% - €38million of efficiencies already achieved
- Revised commitment to deliver total net efficienciesof €80 million by the end of 2016 - the €60 million efficiencies2originally mentioned will be delivered by the end of H1 2015 (run-rate basis)
- A €0.84 per share dividend will be proposed for approval at the AGM on 6 May 2015, representing a 50% payout ratio on net profit.
”Over the past 12 months we have been focussed on the execution of our ambitious strategy. Today’s results are evidence of our ability to drive Euronext forward, underscored by continued strong growth in our revenue, a substantial reduction in our expenses and attaining an EBITDA margin of 45.8%. We will continue to optimize Euronext and we are committing to increase our efficiencies to €80 million by the end of 2016 on a run-rate basis. We have appointed a number of highly accomplished individuals to Euronext this year and I am extremely proud of the talent that we now have within the group, creating a superior team in this industry. Together we will continue our work to build Euronext into a leading financing centre and thereby position us as a champion in Europe,” said Dominique Cerutti, CEO and Chairman of the Managing Board of Euronext NV.
for the nine month period ending 31 December 2013 the changes in third party revenue and operational expenses have also been included when adjusted for the new derivative clearing agreement with LCH.Clearnet. This was included based on our estimate of the amount of revenue we would have received and the amount of associated expenses we would have paid under the Derivatives Clearing Agreement, based on our actual trading volume for the periods presented and assuming the Derivatives Clearing Agreement had been in effect from 1 April 2013, see also specific paragraph and reconciliation pages 6 and 7.
pre tax operating optimisation and efficiencies. Net amount, on a run-rate basis, ie taking into account the full year impact of any cost saving measure to be undertaken before the end of the period mentioned.