Euronext – P&L Impact of IFRS 16 application in 2019

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Euronext – P&L Impact of IFRS 16 application in 2019

Euronext – P&L Impact of IFRS 16 application in 2019
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CONTACT - Investor Relations:
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EURONEXT – P&L IMPACT OF IFRS 16 APPLICATION IN 2019

Amsterdam, Brussels, Dublin, Lisbon, London and Paris – 18 April 2019 Euronext, the leading pan-European exchange in the Eurozone, today announced the expected impact of IFRS 16 on its 2019 P&L.

Due to the adoption of IFRS 16 on 1 January 2019, Euronext expects in Q1 2019 a €2.7m positive impact on its EBITDA, a slightly positive impact on its operating profit (€0.1m) and an unsignificant impact on its net income. This impact in Q1 2019 is expected to be similar for the four quarters of 2019.

 Unaudited, In €mQUARTERLY expected impact of IFRS 16 in 2019
 (based on Q1 2019 impact)
Revenue  - 
Operational expenses excluding D&A -2.7
Salaries and employee benefits  - 
Other Operational Expenses-2.7
System & Communication-0.3
Professional Services-1.2
Clearing expense  - 
Accommodation-1.2
Other Operational Expenses  - 
EBITDA+2.7
Depreciation & Amortisation+2.7
Operating Profit before Exceptional items+0.1
Exceptional items-
Operating Profit+0.1
Net financing income / (expense)-0.1
Results from equity investments-
Profit before income tax-0.1
Income tax expense-0.0
Share of non-controlling interests-
Net income-0.0

Euronext’s 2019 cost guidance (“In 2019, Euronext expects to limit the growth rate of its operating costs to a low single digit1, despite the consolidation of Euronext Dublin for the full year of 20192”), remains unchanged, and does not include IFRS 16 impact mentioned above.
For more information on the opening balance sheet impact, please refer to Page 167 of the 2018 Registration Document available on www.euronext.com.

CONTACTS -
Media
Pauline Bucaille                                     +33 1 70 48 24 41; pbucaille@euronext.com 

Analysts & investors
Aurélie Cohen                                        +33 1 70 48 24 17; ir@euronext.com

About Euronext
Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. With 1,300 listed issuers worth €3.5 trillion in market capitalisation as of end March 2019, Euronext is an unmatched blue chip franchise that has 24 issuers in the Morningstar® Eurozone 50 Index℠ and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs.

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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1 Compared to Group operating costs excluding D&A for 2018 of €260.8m
2 For 2018, Euronext Dublin costs were only consolidated for 3 quarters. As a reminder, the operating costs for Euronext Dublin for Q1 2018 were €5.8m


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