Amsterdam, Brussels, Lisbon, London and Paris – 6 May 2015– Euronext today announced its results for the first quarter of 2015.
- Third party revenue increased by +9.6% on an adjusted basisto € 130 million (Q1 2014 adjusted: €118.7 million), or +22.4% on a reported basis (Q1 2014 reported: €106.2 million)
- Substantial reduction in operational expenses excluding depreciation and amortization: -8.8% compared to Q1 2014 adjusted1(increase by +1.4% compared to Q1 2014 reported)
- EBITDA margin of 52.2%
- €43.6 million of cumulated efficiencies achieved - €38.3 million of associated restructuring expenses
”Today we are announcing results that reflect the hard work we have put in to execute on our strategy and which demonstrate that we are on the right track. We have been able to over deliver on our promises, thanks to tight cost controls, robust volumes in our cash trading, strong tailwinds and a buoyant IPO market. I am delighted to have been given the opportunity to act as interim CEO. It is an honour to accept this position on an interim basis. As a team we have all worked hard to reposition Euronext as a leading capital financing centre in Europe. Our mission will not change and I am committed to defending the interests of the company, creating value for our shareholders and our clients, and fulfilling my role as CEO of this outstanding company.” said Jos Dijsselhof, Interim CEO and COO of Euronext NV.
for the three month period ending 31 March 2014 the changes in third party revenue and operational expenses have also been included when adjusted for(i) the 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 period presented and assuming the Derivatives Clearing Agreement had been in effect from 1 January 2014, and (ii) the termination of ICE transitional services starting 1st January 2015. See also specific paragraph and reconciliation pages 5 and 6.