Euronext Sees 46.9% Jump in 2021 Revenue

Euronext, the leading pan-European market infrastructure, has published its results for the fourth quarter and full year 2021, showing a strong revenue growth, driven by solid organic performance of non-volume related activities and significant contribution from acquisitions.

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In 2021, Euronext's revenue and income reached €1,298.7 million, 46.9% up from the last year. Trading revenue grew to €465.3 million, primarily driven by the consolidation of Borsa Italiana Group capital markets and efficient yield management in cash trading partially offsetting lower volumes compared to an exceptional year 2020.

EBITDA stood at €752.8 million and EBITDA margin stood at 58.0% due to implementation costs. Operating expenses, excluding D&A, grew to €545.8 million as a result of the consolidation of costs from acquired businesses, for €163.1 million, and costs related to the integration of these acquisitions, notably the Borsa Italiana Group.

To highlight its underlying performance, from Q1 2022 Euronext will adjust its operating expenses and publish an adjusted EBITDA excluding non-recurring items, for example implementation costs related to the Borsa Italiana Group integration.

In 2022, Euronext expects its underlying operating costs excluding D&A to be around €622.0 million, compared to the annualised fourth quarter of 2021 underlying operating costs excluding D&A (€627 million).

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:"Euronext delivered a record performance during the fourth quarter of 2021, closing a dynamic and pivotal year 2021 for Euronext. In 2021, Euronext achieved more than 40% of growth in revenue and EBITDA and a high double-digit increase in adjusted EPS. This results from the successful integration of Euronext Securities Copenhagen and the contribution of the Borsa Italiana Group, especially in fixed income, custody and settlement and clearing. This performance also reflects the solid performance of our non-volume related activities and our enhanced capacity to capture revenue in a less volatile equity trading environment."