Slide 1: Euronext Q4/FY 2024 results
Euronext Q4/FY 2024 results 14 February 2025
Slide 2: Agenda
Agenda 01 02 03 FY 2024 Q4 2024 business Q4 2024 financial highlights review review Stéphane Boujnah CEO and Chairman of Giorgio Modica Giorgio Modica the Managing Board CFO CFO Q&A │2
Slide 3: FY 2024 highlights
7 EURONEXT FY 2024 highlights
Slide 4: FY 2024, a record year boosted by diversified business profile and cost discipline
FY 2024, a record year boosted by Euronext’s diversified business profile and continued cost discipline €1,626.9m €1,006.4m €6.59 Revenue and income, +10.3% Adjusted EBITDA, +16.4% Adjusted(2) EPS, +19.6% 58% 61.9% €708.6m non-volume related(1) revenue Adjusted EBITDA margin, +3.3pts Net operating c
Slide 5: High Q4 2024 growth driven by double-digit revenue growth and cost discipline
High Q4 2024 growth driven by double-digit revenue growth, cost discipline and strategic capital allocation €415.8m €252.6m €1.66 Revenue and income, up +11.1% Adjusted EBITDA, up +16.7% Adjusted(2) EPS, +16.9% 59% 60.7% €175.0m non-volume related(1) revenue Adjusted EBITDA margin, Net operating cas
Slide 6: Euronext confirms achievement of Growth for Impact 2024 financial targets
Euronext confirms achievement of “Growth for Impact 2024” financial targets 2024 targets 2024 achievements Revenue +3% to 4% +4.7% growth CAGR2020PF-2024 CAGR2020PF-2024 Adjusted EBITDA +5% to 6% +6.4% growth CAGR2020PF-2024 CAGR2020PF-2024 │6
Slide 7: Q4 2024 business review
7 EURONEXT 04 2024 business review
Slide 8: Double digit topline growth in Q4 2024 thanks to dynamism of all businesses
Double digit topline growth in Q4 2024 thanks to dynamism of all businesses Q4 2024 revenue and income Trading €141.4m +13.5% Technology Solutions Listing & Corporate 7% Solutions Advanced Data Services 15% 14% Post €102.8m Trade +8.6% Investor Services 1% €415.8m Cash trading Advanced Data €61.1m 1
Slide 9: Reinforced leadership in listing in Europe in Q4 2024
Reinforced leadership in listing in Europe in Q4 2024 Revenue grew +5.9% like-for-like at constant currencies, reported revenue was up +5.8% Strong performance of corporate solutions and resilient listing activity, partially offset by the depreciation of the NOK #1 venue for equity listing in Europe
Slide 10: Strong performance of non-volume related businesses
Strong performance of non-volume related businesses Advanced Data Services Revenue was up +8.9% Revenue in €m ▪ Strong performance across the data products offering Q4 2024 61.1 ▪ Solid demand for analytic products and from retail investors Q4 2023 56.1 ▪ Like-for-like at constant currencies, revenu
Slide 11: Dynamic activity across asset classes supports high trading growth (1/2)
Dynamic activity across asset classes supports high trading growth (1/2) Cash trading Revenue was up +10.6% Revenue in €m ▪ ADV was up +10.3%, driven by a more positively geared volume Q4 2024 70.9 environment Q4 2023 64.1 ▪ Average yield at 0.52bps, reflecting more dynamic volumes and high average
Slide 12: Dynamic activity across asset classes supports high trading growth (2/2)
Dynamic activity across asset classes supports high trading growth (2/2) Fixed income trading Revenue in €m Revenue was up +23.7% ▪ Record quarter driven by economic environment favouring money Q4 2024 37.8 markets, supportive volatility and strong growth in repo and other fixed income trading Q4 20
Slide 13: Strong performance of all Post Trade activities
Strong performance of all Post Trade activities Clearing – exc. NTI Revenue in €m Revenue was up +1.8% Q4 2024 32.9 ▪ Higher equity clearing volumes following the expansion of Euronext Clearing in November 2023, as well as dynamic commodity and retail Q4 2023 14.6 17.8 32.3 bond clearing volumes Eur
Slide 14: Q4 2024 financial review
7 EURONEXT 04 2024 financial review
Slide 15: 2025 cost guidance
2025 cost guidance ▪ In 2024, Euronext reported underlying expenses (excl. D&A) in line with the revised guidance of €620 million. This compares to an initial guidance of €625 million, which did not take into account the impact of any acquisitions executed over the course of 2024. 2024 normalised un
Slide 16: Q4 2024 adjusted EBITDA up +16.7% to €252.6 million
Q4 2024 adjusted EBITDA up +16.7% to €252.6 million in €m +20.2% 252.6 241.4 11.2 1.8 4.7 3.6 0.2 4.4 37.2 60.7% 200.8 Adj. EBITDA margin +2.9pt Underlying costs up +3.4%, including acquisitions Q4 2023 Revenue Cost Revenue Costs FX impact Non- Q4 2024 Non- Q4 2024 Reported variation at variation at
Slide 17: Q4 2024 adjusted net income at €172.3 million, up +16.3%
Q4 2024 adjusted net income at €172.3 million, up +16.3% in €m 10.8% 172.3 4.0 1.8 €144.6m 6.9 Reported 27.7 15.5 Net Income 40.6 144.6 1.9 +10.8% 130.6 €172.3m Adjusted Net Income1) +16.3% €1.66 Adjusted EPS1) +16.9% Q4 2023 EBITDA D&A Net Results Income tax Share of Q4 2024 Total non- Q4 2024 repo
Slide 18: A strong financial situation at end of December 2024, S&P upgrade to A-
A strong financial situation at end of December 2024, S&P upgrade to A-, Stable Outlook CASH FLOW GENERATION 241.4 Q4 2024 EBITDA to net operating cash flow conversion rate 200.8 194.5 Reported EBITDA impacted by: 175.5 175.0 155.1 ▪ Change in working capital related to Nord Pool and Net operating c
Slide 19: Q&A - Speakers
Q&A - Speakers Stéphane Boujnah Giorgio Modica Anthony Attia Nicolas Rivard Chief Executive Officer, Chairman Chief Financial Officer Global head of Derivatives & Head of Cash Equity and Data of the Managing Board Post-trade Services │ 19
Slide 20: Appendix
& EURONEXT Appendix
Slide 21: Liquidity at end of Q4 2024
Liquidity at end of Q4 2024 in €m 2,220.5 600.0 29.2 2.3 30.7 10.0 3.0 175.0 18.3 13.2 5.9 1,620.5 1,606.5 95.2 0.3 €400m Targeted cash for operation Cash in Net Exc. Net Net Capex Dividends Dividends Business Net Payment Acquisition Other, Cash in Undrawn Liquidity Q3 2024, operating Impact of (Pur
Slide 22: FY 2024 double digit topline growth driven by diversified business
FY 2024 double digit topline growth driven by Euronext’s diversified business FY 2024 revenue and income Trading €559.4m Technology Solutions +14.2% 7% Listing & Corporate Solutions 14% Advanced Data Services 15% Post €414.7m Trade +12.0% Investor Services 1% €1,626.9m Cash trading Advanced €241.7m
Slide 23: Number of outstanding shares used for EPS computation
Number of outstanding shares used for EPS computation For comparative purposes, average numbers of outstanding shares (basic) for previous comparative periods were restated using the bonus fraction. ▪ For the full year 2024, the average number of outstanding shares (basic) is 103,578,980 ▪ For the f
Slide 24: Adjusted EPS for Q4 and FY 2024
Adjusted EPS for Q4 and FY 2024 in €m unless specified otherwise Q4 2024 Q4 2023 FY 2024 FY 2023 Net income reported 144.6 130.6 585.6 513.6 EPS reported (€) 1.40 1.25 5.65 4.84 Adjustments of which Operating expenses exc. D&A (11.2) (15.5) (30.9) (78.3) of which Depreciation and amortisation (28.1)
Slide 25: Q4 2024 income statement
Q4 2024 income statement In €m, unless stated otherwise % var Q4 2024 Q4 2023 % var The figures in this document have not been audited or reviewed by our external auditor. (like-for-like, constant currencies) Total Revenues and income 415.8 374.1 +11.1% +9.9% Listing 59.4 56.2 +5.8% +5.9% Trading re
Slide 26: Last twelve months income statement
Last twelve months income statement Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Revenue and income 401.9 412.9 396.3 415.8 1,626.9 Listing 57.7 58.4 56.4 59.4 231.9 Trading Revenue 138.4 142.7 136.9 141.4 559.4 of which Cash trading 70.6 74.2 68.3 70.9 284.0 of which Derivatives trading 13.4 13.9 13.0 1
Slide 27: Balance sheet as of 31 December 2024
Balance sheet as of 31 December 2024 in € million 31 December 2024 31 December 2023 Non-current assets Property, plant and equipment 106.2 114.4 unaudited, in € million As of 31/12/2024 Right-of-use assets 57.5 55.7 Goodwill and other intangible assets 6,096.2 6,108.2 CCP clearing business assets De
Slide 28: Q4 2024 cash flow statement
Q4 2024 cash flow statement in € million Q4 2024 Q4 2023 Profit before tax 208.4 176.9 Adjustments for: - Depreciation and amortisation 49.6 45.6 - Share based payments 5.2 3.9 - Results from equity investments (10.0) (5.6) - Gain on sale of associate - (11.4) - Share of profit from associates and j
Slide 29: 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 30: Investor Relations
Investor Relations Aurélie Cohen, Chief Communications and Investor Relations Officer Judith Stein, Investor Relations Senior Manager www.euronext.com/en/investor-relations Margaux Kurver, Investor Relations Officer +33 6 15 23 91 97 ir@euronext.com