Euronext Nv · EURONEXT:ENX
Euronext Nv — Shareholder Meeting (May 2023)
23 slides from Euronext Nv's shareholder meeting presentation, May 17, 2023
Slide 1: Euronext N.V. 2023 Annual General Meeting
Euronext N.V. 2023 Annual General Meeting 17 May 2023
Slide 2: Presentation of the Chief Executive Officer
Euronext N.V. 2023 Annual General Meeting Presentation of the Chief Executive Officer 17 May 2023
Slide 3: 2019-2022 review
2019-2022 review
Slide 4: Euronext has continued its transformation journey since 2019
Euronext has continued its transformation journey since 2019 2019 2022 MARKET CAPITALISATION €5.1bn1) x1.5 €7.4bn2) REVENUE €679m x2.2 €1,468m FINANCIAL PROFILE EBITDA MARGIN 58.8% 58.7%3) adj. NON VOLUME RELATED REVENUE 50% 58.1% +1 BOND TRADING PLATFORM - MTS 1 +1 PROPRIETARY CCP - Euronext Cleari
Slide 5: Diversified and improved revenue profile
Diversified and improved revenue profile 2019 revenue 2022 underlying revenue and income1) Technology & Other Investor Services Technology & Other Investor Services 7% 1% ▪ Diversification into 6% 1% Advanced Data Listing 15% power trading Advanced Listing Services Data 19% 14% Services ▪ Expansion
Slide 6: Expanded geographical footprint to the Nordics and Italy
Expanded geographical footprint to the Nordics and Italy 2019 revenue 2022 underlying revenue and income1) Portugal Belgium USA 2% 2% 2% Others Ireland USA Other Ireland 3% 1% ▪ Strengthened footprint 4% 3% 2% Portugal Denmark 5% in the Nordic region 5% Italy Belgium 5% Netherlands 33% ▪ Expanded fo
Slide 7: Euronext is now the leading diversified pan-European market infrastructure
Euronext is now the leading diversified pan-European market infrastructure #1 equity listing #1 cash trading venue in Europe venue in Europe Fish Pool Oslo Børs c.1,930 listed companies 25% of shares traded in the Euronext Securities Oslo Nord Pool European region in 2022 €6.3 trillion in market cap
Slide 8: Continued disciplined capital allocation between 2019 and 22
Continued disciplined capital allocation between 2019 and 2022 Discipline capital allocation policy ~€4.7bn capital deployed since 2019 Reinforced financial profile 2.1x net debt to adj. EBITDA ratio at end of March 2023 Euronext upgraded to BBB+ by S&P in February 2023 Strong cash generation €1.8bn
Slide 9: Successful expansion in the Nordic region
Successful expansion in the Nordic region +2 CSDs +1 asset class Strengthening the with the expansion post-trade business into power trading Oslo Børs – Euronext Securities Oslo (VPS) Nord Pool Euronext Securities Euronext regulated Copenhagen (VP market infrastructures Securities) Euronext other of
Slide 10: A unique track record of integration and operational leverage
A unique track record of integration and operational leverage Initial targets Achievements As % of initial targets Timing 2014/2016 €60 million €85 million 140% 1 year in advance efficiency programme 2016/2018 €22 million €24 million 110% 1 year in advance efficiency programme Euronext Dublin €6 mil
Slide 11: On the path to build the only fully integrated trading value chain across Europe
On the path to build the only fully integrated trading value chain across Europe LISTING TRADING POST-TRADE FROM Q4 2023 Expansion Leading fixed to all Euronext #1 European #1 listing venue income trading markets trading platform platform Core Data Centre #2 derivatives Major platforms for trading v
Slide 12: Share price evolution since IPO
Share price evolution since IPO € 120 Euronext SBF120 Deutsche Börse LSEG SXFGR € 100 +369% € 80 +303% € 60 +217% € 40 +117% +59% € 20 €0 SXFGR – Stoxx 600 financial services │ 12
Slide 13: Empowering sustainable finance
Empowering sustainable finance
Slide 14: The “Fit for 1.5°” climate commitment
The “Fit for 1.5°” climate commitment “FIT FOR 1.5°” 01 For Euronext: Commit to the alignment of our own emissions with a 1.5-degree trajectory, the most-demanding climate ambition, under the Science-Based Targets initiative 02 For our clients: Deploy a full suite of climate-focused products and ser
Slide 15: Delivering on our ESG commitment with validated SBTi targets
Delivering on our ESG commitment with validated SBTi targets SBTi1)-aligned targets Operational emissions contraction target Supplier engagement target At least 73.5% 46.2% By 2027, Euronext suppliers, representing FIT FOR 1.5° Reduction of its Scope 1 and Scope 2 market-based reduction of Euronext’
Slide 16: 2022 Highlights
2022 Highlights
Slide 17: 2022 demonstrating strength of Euronext’s diversified business model
2022 demonstrating strength of Euronext’s diversified business model 2022 underlying revenue and income1) Listing €218.4m Technology +15.1% & Other Listing 7% 15% Advanced Data Services 14% Trading €514.1m +10.5% Net treasury income €1,468m Post Trade 3% (underlying) €408.6m +14.8% 58% (underlying)
Slide 18: 2022 demonstrating strength of diversified business model and cost control
2022 demonstrating strength of Euronext’s diversified business model and cost control allowing to beat 2022 cost guidance €1,467.8 million €861.6 million €5.21 Underlying revenue and Adjusted EBITDA, +11.7% Adjusted3) EPS, -4.8% income1) 58.7% €4.10 +13.0% Adjusted EBITDA margin Reported EPS, -4.6%
Slide 19: 2023 underlying costs guidance
2023 underlying costs guidance In 2023, Euronext expects its underlying operating costs excluding D&A1) to be around €630 million, compared to the annualized H2 2022 underlying operating costs excluding D&A of €620 million. ▪ The slight increase in costs only results from costs related to non-volume
Slide 20: Improved financial profile with upgrade to BBB+ last February 2023
Improved financial profile with upgrade to BBB+ last February 2023 2.500 3,5x 3.1x at end of BBB+, outlook 2.4x Net Debt to 2021 2.2x 3,0x stable EBITDA (reported) 2.000 at end of As at end of March 2023 March 2023 2,5x 1.500 2,0x €600 million €3.05 billion Revolving Credit Facility Total outstandin
Slide 21: Q1 2023 Results
Q1 2023 Results
Slide 22: Solid Q1 2023 driven by non-volume related organic growth
Solid Q1 2023 driven by non-volume related organic growth €372.3m €218.5m €1.38 Revenue and income, -5.9% Adjusted EBITDA, -13.3% Adjusted2) EPS, -10.7% 58% 58.7% €179.8m of non-volume related1) revenue Adjusted EBITDA margin Net operating cash flow, adjusted for Nord Pool and Euronext Clearing CCP
Slide 23: Solid quarter driven by organic growth of non-volume related business
Solid quarter driven by organic growth of non-volume related business Q1 2023 revenue and income Technology €27.6m Solutions +19.4% Technology Solutions 7% Listing 15% Advanced Advanced Data €56.3m Services Data +7.0% 15% Services Net Treasury Income 2% €372.3m Listing €54.7m -1.2% 58% non-volume dr