- Decrease in revenue: -15.2%, to €112.8 million (Q3 2015: €133.0 million, which was the second best quarter ever)
- Revenue was impacted by lower trading volumes (cash average trading volumes decreased by -29.4% vs Q3 2015) and the fall in IPOs and M&A driven listing operations
- Continued strong reduction in operational expenses excluding depreciation and amortization: -7.8%, to €51.5 million (Q3 2015: €55.8 million)
- €11.4 million of cumulated gross efficiencies achieved since Q2 2016 as part of the cost cutting programme announced in the Agility for Growth plan
- EBITDA margin of 54.4% (Q3 2015: 58.0%)
- Launch of a new trading facility to improve liquidity in pan-European corporate bond trading
Amsterdam, Brussels, Lisbon, London and Paris – 9 November 2016– Today Euronext announced its results for the third quarter of 2016.
“Facing a challenging market environment in Q3, both in listing and trading, due to the uncertainty lingering on after the Brexit referendum, combined with significantly lower volatility compared to the same period last year, Euronext revenue was down. However, our continuous cost discipline generated incremental efficiencies. As a whole, we achieved a 54.4% EBITDA margin in Q3. If the market conditions were to remain what they are or improve during Q4, we are confident that our EBITDA margin for the full year will be above the one of 2015.” said Stéphane Boujnah, Chairman and CEO of the Managing Board of Euronext NV.