Euronext Posts Financial Results for Q4 and Full Year 2022

Euronext, the largest stock exchange in Europe, has released its financial results for the fourth quarter and the full year 2022, recording consolidated revenue and income of  €1.42 billion for the year.

Financial Results For Full Year 2022

• Consolidated revenue and income increased 9.3% from €1,298.7 million in 2021 to €1,418.8 million. Cash trading accounted for €301.7 million, up 2.7%; derivatives trading accounted for €58.4 million, up 11.3%; fixed income trading accounted for €93.0 million, up 41.3%; and FX trading accounted for €28.4 million, up 21.0%.

• Adjusted EBITDA was €861.6 million, rising 11.7% compared to €771.0 million in 2021. The adjusted EBITDA margin stood at 58.7%, compared to the previous year’s 59.4%.

• Adjusted operating profit was €792.8 million, an increase of 11.7% increase compared to 2021.

• The reported net income, share of the parent company shareholders, increased by +5.9% for 2022 compared to 2021, to €437.8 million, including the one-off loss due to the portfolio reallocation of the Euronext Clearing portfolio. This represents a reported EPS of €4.10 basic and €4.10 diluted in 2022, compared to €4.30 basic and €4.29 diluted in 2021.

• Adjusted EPS (basic) fell by 4.8% from €5.47 to €5.21.

• Adjusted net income, share of the parent company shareholders accounted for €555.3 million, increasing 5.7% from €525.5 million in 2021.

Financial Results for Q4 2022

• Consolidated revenue and income came in at €347.0 million, down 6.2% compared to €370.1 million in Q4 2021. Cash trading accounted for €65.1 million, down 17.9%; derivatives trading accounted for €13.4 million, down 5.4%; fixed income trading accounted for €22.1 million, down 8.5%; and FX trading accounted for €6.7 million, up 9.5%.

• Underlying operational expenses excluding depreciation and amortisation increased to €159.2 million, slightly up 1.6% from €156.6 million.

• Adjusted EBITDA was €187.9 million, decreasing 12% compared to €213.4 million in Q4 2021.

• Adjusted operating profit amounted to €168.4 million, felling 13.3% from €194.1 million in the prior Q4.

• The reported net income, share of the parent company shareholders,  down 11.9% for Q4 2022 compared to Q4 2021, to €99.3 million. This represents a reported EPS of €0.93 basic and €0.93 diluted in Q4 2022, compared to €1.05 basic and €1.05 diluted in Q4 2021.

• Adjusted EPS (basic) fell by 18.0% on a QoQ basis from €1.35 to €1.11.

• Adjusted net income, share of the parent company shareholders was down -18.2% to €118.2 million.