Euronext Reports Continued YoY Drop Across Multiple Figures for Q2 2023

Euronext, the largest stock exchange in Europe, released its financial results for the second quarter of 2023 (Q2 2023), with multiple figures continuing to fall.

Overview of Q2 2023 Financial Results:

• Revenue and income totaled €368.1 million during the three months, dropping by 1.8% compared to €374.7 million in the same period of last year. Listing accounted for €55.1 million, 0.5% lower than €55.4 million in Q2 2022. Cash trading accounted for €65.2 million, 13.3% lower than €75.3 million in Q2 2022. Derivatives trading accounted for €13.0 million, 12.6% lower than €14.9 million in Q2 2022. Fixed income trading accounted for €25.3 million, 1.4% higher than €24.9 million in Q2 2022. FX trading accounted for €6.1 million, 15.7% lower than €7.3 million in Q2 2022. Clearing accounted for €29.4 million, 6.4% lower than €31.4 million in Q2 2022.

• Adjusted EBITDA came in at €216.1 million for the quarter, decreasing by 2.5% compared to €221.7 million. Adjusted EBITDA margin stood at 58.7% for Q2 2023, and the metrics in Q2 2022 was 59.2%.

• Adjusted operating profit amounted to €197.8 million during the period, a decrease of 4.4% compared to €206.9 million in Q2 of last year.

• Profit before income tax was €166.4 million, dropping slightly by 0.5% compared to €167.2 million in the year-ago quarter.

• Net income was €120.0 million, 0.9% higher than €118.9 million in Q2 2022. The adjusted net income was €142.9 million, 0.2% lower than €143.2 million in Q2 2022.

• Adjusted EPS was €1.34, basically unchanged from the same period of last year.

• In Q2 2023, Euronext reported a net cash flow from operating activities of €139.0 million, compared to €76.8 million in Q2 2022.