Euronext Sees Yearly Drop Across Multiple Metrics for Q1 2023

Euronext, the largest stock exchange in Europe, published its financial results for the first quarter of 2023 (Q1 2023), seeing an overall drop across multiple metrics during the period on a yearly basis.

Specifically, revenue and income totaled €372.3 million in the quarter, 5.9% lower than€395.7 million in Q1 2022. Fixed income trading accounted for €26.2 million, up 7.0% compared to €24.4 million in Q1 2022. Cash trading accounted for €71.7 million, down 23.7% compared to €94.0 million in Q1 2022. Derivatives trading accounted for €14.9 million, down 7.5% compared to €16.1 million in Q1 2022. FX trading accounted for €6.3 million, down 11.7% compared to €7.2 million in Q1 2022.

Adjusted EBITDA was €218.5 million during the period, dropping 13.3% compared to €252.2 million in the same period of last year. Adjusted EBITDA margin was 58.7%, 5.0 pts lower than 63.7% in Q1 2022.

Adjusted operating profit came in at €200.9 million, a decrease of 14.0% compared to €233.7 million in Q1 2022.

Profit before income tax was €135.2 million, falling 32.3% compared to €199.6 million in the same period of 2022.

The adjusted net income, share of the parent company shareholders, amounted to €147.1 million, decreasing 10.6% compared to €164.4 million in Q1 2022.

Adjusted EPS fell by 10.7% from €1.54 to €1.38 on a yearly basis. Reported EPS fell by 33.0% from €1.35 to €0.90 on a yearly basis.