Euronext Publishes third Quarter 2016 Results

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  • 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.

 

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

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