Slide 1: Euronext Q2 2022 Results Analysts call
Euronext Q2 2022 Results Analysts call 29 July 2022 Published on 28 July 2022 at 5.45 pm CEST
Slide 2: Q2 2022 highlights, Business review, Financial review, Q&A
1 Q2 2022 highlights 2 Business review 3 Financial review 4 Q&A Stéphane Boujnah Giorgio Modica CEO and Chairman of Chief Financial Officer the Managing Board │2
Slide 3: Q2 2022 highlights
Q2 2022 highlights i EURONEXT
Slide 4: Solid Q2 2022 performance driven by non-volume activities and trading
Solid Q2 2022 performance driven by sustained dynamism of non-volume activities and of trading operations €374.7 million €221.7 million €1.34 Revenue and income Adjusted EBITDA Adjusted2) EPS +14.0% +12.3% €1.11 reported reported Reported EPS +2.5% 59.2% +26.3% pro forma1) Adjusted EBITDA margin Rep
Slide 5: Strong momentum in the delivery of integration plan and synergies
Strong momentum in the delivery of integration plan and synergies €24.1m ▪ €8.9 million of run-rate annual synergies delivered in Q2 2022 run-rate annual ▪ €36.7 million of cumulated non-recurring implementation costs incurred at synergies delivered the end of Q2 2022, of which €5.4 million in Q2 20
Slide 6: Successful migration to Euronext new green Core Data Centre
Successful migration to Euronext new green Core Data Centre 100% Highest Powered by renewable energy Best-in-class green Data rating Rating 4 certification data Centre facility centre 10,258m2 Installed roof panels 14 months project from announcement 2310 kW until completed migration Total power Sta
Slide 7: Climate commitment: Euronext sets science-based targets and action plan
Climate commitment: Euronext sets science-based targets and action plan SBTi1-aligned targets Operational emissions contraction target Supplier engagement target At least 70% 46.2% By 2027, Euronext suppliers, representing Reduction of its Scope 1 and Scope 2 market- reduction of Euronext’s 67% of E
Slide 8: Successful launch of Euronext Tech Leaders
Successful launch of Euronext Tech Leaders, the initiative for high-growth and leading Tech companies ▪ Initiative launched in June 2022 with a network of 13 key partners with both a global and regional reach ▪ First comprehensive offer dedicated to Tech companies including a dedicated segment and a
Slide 9: Q2 2022 business review
Q2 2022 business review i EURONEXT
Slide 10: Q2 2022 revenue up +14.0% driven by non-volume and trading activities
Q2 2022 revenue up +14.0% driven by strong results from non-volume related and trading activities and the consolidation of the Borsa Italiana Group +€45.9m €374.7m in €m +14.0% ▪ Organic growth of +2.5% pro forma compared to Q2 2021 underlying revenue +14.0% 1,9 Q2 2022 consolidated revenue €328.8m
Slide 11: Listing revenue up +15.0% to €55.4 million in Q2 2022
Listing revenue up +15.0% to €55.4 million in Q2 2022 #1 equity listing venue in Europe and #1 for debt listing worldwide +15.0% 19 €253.9bn Revenue growth New equity Total money +7.8% pro forma listings raised Annual fees ▪ Resilient equity listing performance in a highly volatile market in €m +15.
Slide 12: Euronext: the venue of choice with superior liquidity and market quality
Euronext: the venue of choice with superior liquidity and market quality 67.1% +20% 4-5x 6.5bps Q2 2022 average Higher EBBO2) presence Better EBBO setting spread market share1) than any MTF in Europe Lowest spread (in bps) Euronext MTF 1 MTF 2 MTF 3 Higher EBBO 6.5 9.0 13.6 21.0 80% Presence Higher
Slide 13: Trading revenue up +14.6% to €129.2 million in Q2 2022 (1/2)
Trading revenue up +14.6% to €129.2 million in Q2 2022 (1/2) CASH TRADING ▪ Strong cash trading revenue driven by higher volumes and efficient €75.3m €11.6bn 0.51bps 67.1% yield management revenue ADV1 Yield market share ▪ Robust market share and maintained superior market quality in a +7.4% +3.3% v
Slide 14: Trading revenue up +14.6% to €129.2 million in Q2 2022 (2/2)
Trading revenue up +14.6% to €129.2 million in Q2 2022(2/2) FX TRADING ▪ Continued strong performance for Euronext FX in terms of €7.3m $23.6bn revenue and volumes due to continued momentum of heightened revenue ADV FX volatility +27.6% +27.0% ▪ Like-for-like at constant currencies, revenue increase
Slide 15: Post-trade revenue, including net treasury income, +18.0% to €109.6 million
Post-trade revenue, including net treasury income, +18.0% to €109.6 million in Q2 2022 Revenue growth driven by strong clearing activity , exceptionally high NTI and solid performance of Euronext Securities reflecting its successful diversification and consolidation of Euronext Securities Milan CLEA
Slide 16: Advanced Data Services, Investor Services and Technology Solutions
Advanced Data Services, Investor Services and Technology Solutions ADVANCED DATA SERVICES Q2 2022 52.0 ▪ Strong traction of the core data business, solid index activities and €52.0m good momentum of the advanced data solutions franchise revenue Q2 2021 46.5 +11.9% ▪ Like-for-like at constant currenc
Slide 17: Q2 2022 financial review
Q2 2022 financial review i EURONEXT
Slide 18: Q2 2022 adjusted EBITDA up +12.3% to €221.7 million
Q2 2022 adjusted EBITDA up +12.3% to €221.7 million +12.3% in €m +2.5% 3.8 221.7 9.3 8.1 216.2 59.2% 213.6 Adj. EBITDA margin 197.4 Continued cost discipline Q2 2021 Q2 2021 Revenue growth Costs reduction Q2 2022 Non-underlying Q2 2022 Adj. EBITDA pro forma Adjusted costs exc. D&A Reported Adjusted
Slide 19: Q2 2022 net income up +37.2% to €118.9 million, adjusted EPS €1.34
Q2 2022 net income up +37.2% to €118.9 million, adjusted EPS at €1.34 per share, down due to higher share count in €m 143.2 +25.6% 24.3 €143.2m 1.1 118.9 Adjusted 5.5 3.4 0.5 0.2 Net Income1) 23.8 94.6 €1.34 Adjusted EPS1) -6.1% reported +25.6% Pro forma net income growth Q2 2021 Pro forma D&A Net R
Slide 20: Cash flow generation in Q2 2022 and debt and leverage at end of June 2022
Cash flow generation in Q2 2022 and debt and leverage at end of June 2022 CASH FLOW GENERATION Q2 2022 EBITDA to net operating cash flow 213.6 conversion rate impacted by: EBITDA 167.6 ▪ Working capital impacted by dividend payment in Q2 2022 89.8 Net operating 76.8 cash flow 61.3 ▪ Excluding the im
Slide 21: Liquidity at end of June 2022
Liquidity at end of June 2022 in €m 205.0 1,341.6 11.7 600.0 23.8 17.3 6.7 1,154.8 76.8 206.0 23.0 7.6 8.9 946.6 27.9 0.2 €400m Targeted cash for operation Cash in Net Business Net Capex Purchase of Dividends Dividends Interests Payments Settlement Other, Change in Cash in Undrawn Cash in Liquidity
Slide 22: Q&A
Q&A
Slide 23: Q&A - Speakers
Q&A - Speakers Stéphane Boujnah Giorgio Modica Anthony Attia Simon Gallagher CEO and Chairman of the Chief Financial Officer Global Head of Primary Head of Cash and Managing Board Markets & Post Trade Derivatives │ 23
Slide 24: APPENDIX
APPENDIX
Slide 25: Number of outstanding shares used for EPS computation
Number of outstanding shares used for EPS computation Following the rights issue that occurred on 29 April 2021, whose settlement occurs on 14 May 2021, the average outstanding number of shares (basic) to be used for EPS computation is provided below. For comparative purposes, average numbers of out
Slide 26: Adjusted EPS for Q2 2022
Adjusted EPS for Q2 2022 In €m unless stated otherwise Q2 2022 Q2 2021 Net income reported 118.9 86.6 EPS Reported (€ per share) 1.11 0.88 Adjustments of which Operating expenses excluding D&A 8.1 29.7 of which Depreciation and amortisation 23.7 16.5 of which Net financing expense - 5.7 of which res
Slide 27: Q2 2022 income statement
Q2 2022 income statement % var In €m, unless stated otherwise (like-for-like, % var Q2 2022 Q2 2021 % var The figures in this document have not been audited or reviewed by our external auditor. constant Pro forma currencies) Revenue and income 374.7 328.8 +14.0% +2.4% +2.5%1 Listing 55.4 48.2 +15.0%
Slide 28: Q2 2022 income statement
Q2 2022 income statement Q2 2022 Q2 2021 in € million, unless stated otherwise Underlying Non-underlying Reported Underlying Non-underlying Reported Revenue and income 374.7 - 374.7 328.8 - 328.8 Listing 55.4 - 55.4 48.2 - 48.2 Trading revenue, of which 129.2 - 129.2 112.8 - 112.8 Cash trading 75.3
Slide 29: Last twelve months pro forma income statement
Last twelve months pro forma income statement Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Last 12 in € million Pro forma Reported Reported Reported Reported months Revenue and income 371.9 350.6 370.1 395.7 374.7 1,491.1 Listing 51.4 50.8 51.9 55.4 55.4 213.5 Trading Revenue of which Cash trading 74.3 7
Slide 30: Balance sheet as at 30 June 2022
Balance sheet as at 30 June 2022 unaudited, in €m As at 30/06/22 As at 31/03/22 unaudited, in €m As at 30/06/2022 Non-current assets Property, plant and equipment 103.8 100.0 CCP clearing business assets Right-of-use assets 53.2 59.2 CCP trading assets at fair value 7,600.5 Goodwill and other intang
Slide 31: Q2 2022 cash flows and outstanding debt
Q2 2022 cash flows and outstanding debt unaudited, in €m Q2 2022 Q2 2021 Outstanding debt issued Profit before tax 167.2 125.7 Adjustments for: - - Amount Maturity Interest - Depreciation and amortization 38.5 31.2 €500 million 2025 Fixed - Share based payments 4.4 2.5 - Share of profit from associa
Slide 32: Disclaimer
DISCLAIMER 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 the informatio
Slide 33: Investor Relations
INVESTOR RELATIONS Aurélie Cohen, Chief Communications and Investor Relations Officer Clément Kubiak, Investor Relations Manager Judith Stein, Investor Relations Officer ir@euronext.com +33 1 70 48 24 27 www.euronext.com/en/investor-relations