Slide 1: Q2 2019 Results
Q2 2019 RESULTS 1 August 2019 Released on 31 July 2019 17.45 CET
Slide 2: Main Speakers
MAIN SPEAKERS Stéphane Boujnah CEO & Chairman of the Managing Board Giorgio Modica CFO Euronext Q2 2019 results |2
Slide 3: Agenda
AGENDA I Q2 2019 Highlights II Q2 2019 Financials III Oslo Børs VPS acquisition – next steps Euronext Q2 2019 results |3
Slide 4: Q2 2019 Highlights
Il. Q2 2019 HIGHLIGHTS
Slide 5: Q2 2019 Results Driven by Diversification Initiatives and Cost Management
Q2 2019 RESULTS DRIVEN BY DIVERSIFICATION INITIATIVES AND COST MANAGEMENT ▪ Revenue driven by diversification initiatives and services, in a low volume environment ▪ Non-volume related revenue represented 48% of total +1.8% Revenue €159.0m revenue +€2.7m ▪ Oslo Børs VPS, consolidated since 14 June 2
Slide 6: Highlights of the Second Quarter of 2019
HIGHLIGHTS OF THE SECOND QUARTER OF 2019 ▪ Euronext received clearance on 13 May 2019 for the acquisition of Oslo Børs VPS ▪ Euronext owns 100% of Oslo Børs VPS capital since 4 July (97.8% at end of June 2019) ▪ Launch on 4 June 2019 of a €500m 10-year bond, 6 times oversubscribed, with a 1.125% ann
Slide 7: Q2 2019 Financials
—7_ —_—— = | \ —_ j r WY anes wae 2 UEX..544,32 A (+0,94 s 590 ANTI) PEUGEOT . 21,91 & wai SNaA8i4 4(+1,85 %) AHOLD D BEL 20 can 3 605 PSI 20 reo 5 284.374 PAS oe ee, Se = ll. Q2 2019 FINANCIALS
Slide 8: Q2 2019 Revenue Up +1.8% Driven by Services Revenue and Oslo Børs VPS Consolidation
Q2 2019 REVENUE UP +1.8% DRIVEN BY SERVICES REVENUE AND OSLO BØRS VPS CONSOLIDATION Revenue Q2 2019 revenue up +1.8% to €159.0m (+€2.7m) In €m Organic Reported growth1) ▪ Oslo Børs VPS contributing €4.5 million revenue 156.3 159.0 +1.8% -1.7% ▪ Solid growth in listing revenue thanks to the stong Lis
Slide 9: Listing Revenue Up +8.6% to €29.7m in Q2 2019
LISTING REVENUE UP +8.6% TO €29.7M IN Q2 2019 GROWTH OF CORPORATE SERVICES AND CONSOLIDATION OF OSLO BØRS VPS Listing revenue In €m +8.6% Organic growth ▪ Strong performance from Corporate Services +5.0% recording €5.7m of revenue (+51.7%), thanks to 29.7 Equity 27.4 +5.2% increased commercial inten
Slide 10: Cash Trading Revenue Down -5.9% to €50.7m in Q2 2019
CASH TRADING REVENUE DOWN -5.9% TO €50.7M IN Q2 2019 STRENGTHENED REVENUE CAPTURE AND STRONG MARKET SHARE WITH SUBDUED VOLUMES Cash trading Revenue per trade1) Market share1) for Q2 2019 Cash trading: revenue was down -5.9% to €50.7m (-6.7% In bps, single counted like-for-like, excluding Oslo Børs V
Slide 11: Resilience of Derivatives and Spot FX Business in a Low Volume Environment
RESILIENCE OF DERIVATIVES AND SPOT FX BUSINESS IN A LOW VOLUME ENVIRONMENT Derivatives trading Derivatives trading: revenue down -2.8% to €10.6m Average daily volume1) Revenue per lot1) (-3.6% like-for-like) In ‘000 lots, single counted In €, double counted Financial derivatives -5.0% ▪ Low level of
Slide 12: Other Businesses
OTHER BUSINESSES CONSOLIDATION OF OSLO BØRS VPS AND COMMCISE, AND GOOD PERFORMANCE OF INDICES Advanced data services Technology Solutions & other revenue In €m In €m Organic growth▪Solid performance of both -3.1% Organic growth +5.2% +2.9% -4.2% Market Data and Indices 9.0 30.9 8.7 29.4 businesses ▪
Slide 13: Q2 2019 EBITDA Up +12.0% to €98.1m
Q2 2019 EBITDA UP +12.0% TO €98.1M COST DISCIPLINE AND COST OPTIMISATION IN DUBLIN EBITDA margin 56.0% EBITDA margin: +5.7 pts 61.7% EBITDA +12.0% 98.1 • Oslo Børs VPS +€4.5m • Commcise & Others +€1.0m 10.2 In €m 87.6 -2.4 5.5 -2.7 • Commcise • Oslo Børs VPS costs Out of which: benefitting from seas
Slide 14: Q2 2019 Adjusted Net Income Up +4.5% to €64.6m, Adjusted EPS at €0.93
Q2 2019 ADJUSTED NET INCOME UP +4.5% TO €64.6M, ADJUSTED EPS AT €0.93 EXCEPTIONAL ITEMS AND POSTPONED DIVIDEND FROM EQUITY INVESTMENTS In €m • Impact of IFRS 161) • PPA of acquisitions • Incl. M&A costs • Dividends from Euroclear 64.61) expected to be paid in Q4 -3.3 2019 instead of Q2 10.5 -3.9 -1.
Slide 15: Solid Cash Flow Generation and Liquidity Position
SOLID CASH FLOW GENERATION AND LIQUIDITY POSITION EBITDA to Net operating cash flow conversion rate Debt In €m 31 March 2019 30 June 2019 In €m 25.5% 40.3% • Q2 2018 impacted by one-offs linked 98.1 1,107 Net leverage1) to the completion of Euronext Dublin 87.6 acquisition 1.9x 783 510 39.5 22.4 EBI
Slide 16: Oslo Børs VPS Integration
III.Oslo Børs VPS integration
Slide 17: Start of the Integration Works with Oslo Børs VPS
START OF THE INTEGRATION WORKS WITH OSLO BØRS VPS Clearance from Euronext Euronext’s the Norwegian declared its shareholders Euronext Euronext owns Ministry of offer Euronext unanimously controls 97.8% 100% of Oslo Finance to unconditional approve Oslo of Oslo Børs Børs VPS now owns acquire 100% and
Slide 18: Save the Date – Investor Day 11 October 2019
SAVE THE DATE – INVESTOR DAY EURONEXT 2019 INVESTOR DAY FRIDAY 11 OCTOBER 2019 from 9.00am CET Paris Euronext Q2 2019 results |18
Slide 19: Q&A
Q&A Stéphane Boujnah Anthony Attia CEO & Managing Board Member Chairman of the Managing Board Giorgio Modica CFO Euronext Q2 2019 results |19
Slide 20: Appendix
APPENDIX
Slide 21: P&L Impact in 2019 of the Adoption of IFRS16
P&L IMPACT IN 2019 OF THE ADOPTION OF IFRS16 Due to the adoption of IFRS 16 on 1 January 2019, Euronext reported 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 expec
Slide 22: Q2 2019 P&L
Q2 2019 P&L Organic Unaudited, In €m Q2 2019 Q2 2018 % var (like for like) Revenue 159.0 156.3 +1.8% -1.7% Listing 29.7 27.4 +8.6% +5.0% Trading revenue 66.7 70.3 -5.1% -5.9% Cash Trading 50.7 53.9 -5.9% -6.7% Derivatives Trading 10.6 10.9 -2.8% -3.6% Spot FX Trading 5.4 5.6 -2.5% -2.5% Investor Ser
Slide 23: Q2 2019 P&L of Oslo Børs VPS Standalone
Q2 2019 P&L OF OSLO BØRS VPS STANDALONE Unaudited, In NOK'000 Q2 2019 Q2 2018 % var Revenue 272.0 267.3 +1.7% Listing 55.5 56.4 -1.5% As a reminder, Oslo Børs VPS has been Trading revenue 32.2 37.1 -13.3% Cash Trading 27.2 31.3 -13.3% consolidated from 14 June 2019. The Derivatives Trading 5.0 5.8 -
Slide 24: Adjusted EPS Definition
ADJUSTED EPS DEFINITION In €m unless stated otherwise Q2 2019 Q2 2018 H1 2019 H1 2018 Net Income Reported 53.4 55.8 109.5 115.9 EPS Reported (€ per share) 0.77 0.80 1.57 1.67 Intangible assets adj. related to acquisitions (PPA) - 2.4 - 1.8 - 4.5 - 3.3 Exceptional items - 10.0 - 6.2 - 13.3 - 7.2 Tax
Slide 25: Balance Sheet as at 30 June 2019 (Including Oslo Børs VPS)
BALANCE SHEET AS AT 30 JUNE 2019 (INCLUDING OSLO BØRS VPS ) Unaudited, In €m As at 30 Jun 2019 As at 31 Mar 2019 Non-current assets Property, plant and equipment 46.9 39.4 Right-of-use assets 54.9 51.3 Goodwill and other intangible assets 1,413.2 712.4 Deferred income tax assets 28.2 20.4 Investment
Slide 26: Q2 2019 Cash Flow & Liquidity
Q2 2019 CASH FLOW & LIQUIDITY Cash Flow Statement for Q2 2019 Liquidity for Q2 2019 Unaudited, In €m Q2 2019 Q2 2018 Unaudited, In €m Q2 2019 Q2 2018 Profit before tax 78.6 80.3 Cash beginning of period 419.1 288.3 Debt subscribed 538.9 323.6 Adjustments for: Investments (incl. subsidiaries net of c
Slide 27: Disclaimer and Contacts
DISCLAIMER AND CONTACTS This presentation is for information purposes only and is not a recommendation to engage in investment activities. The information and materials contained in this presentation are provided ‘as is’ and Euronext does not warrant as to the accuracy, adequacy or completeness of t