Slide 1: Euronext Q3 2021 Results
EURONEXT Q3 2021 RESULTS 5 November 2021 9.00am CET
Slide 2: Agenda
AGENDA Q3 2021 HIGHLIGHTS Q3 2021 BUSINESS REVIEW Q3 2021 FINANCIAL REVIEW Q&A SPEAKERS Stéphane Boujnah Giorgio Modica CEO and Chairman of Chief Financial Officer the Managing Board │2
Slide 3: Q3 2021 Highlights
7 Q3 2021 HIGHLIGHTS
Slide 4: Q3 2021 strong performance resulting from double-digit organic growth in revenue and the consolidation of Borsa Italiana Group
Q3 2021 strong performance resulting from double-digit organic growth in revenue and the consolidation of the Borsa Italiana Group ▪ Revenue grew +10.2% like-for-like at constant currencies Revenue and − Double-digit organic growth in listing, trading and clearing +€145.8m revenue Income €350.6m ▪ S
Slide 5: Q3 2021 Business Review
= 3 Q3 2021 BUSINESS REVIEW a
Slide 6: Q3 2021 revenue up +71.2% driven by double digit organic growth
Q3 2021 revenue up +71.2% driven by double digit organic growth in listing, trading and clearing and the consolidation of the Borsa Italiana Group ▪ Revenue grew +10.2% like-for-like +71.2% +€145.8m €350.6m ▪ Trading revenue grew +63.6% driven by the consolidation of Borsa Italiana Q3 2021 consolida
Slide 7: Listing revenue up +42.1% to €50.8 million in Q3 2021
Listing revenue up +42.1% to €50.8 million in Q3 2021 #1 equity raising and equity listing venue in Europe, with 51 equity listings €50.8m 51 €381bn +16.1% Revenue Corporate Services +42.1% New equity listings money raised revenue growth ▪ Record activity in equity and ETFs listing and positive trac
Slide 8: Trading revenue up +63.6% to €124.2 million in Q3 2021 (1/2)
Trading revenue up +63.6% to €124.2 million in Q3 2021 (1/2) CASH TRADING Cash trading ▪ High level of volatility over the quarter €75.0m €10.9bn 0.52bps 71.4% revenue ADV1 Yield market share ▪ Strong revenue capture and efficient market share management +42.7% +14.6% proforma ▪ Like-for-like at con
Slide 9: Trading revenue up +63.6% to €124.2 million in Q3 2021 (2/2)
Trading revenue up +63.6% to €124.2 million in Q3 2021 (2/2) FX TRADING Cash trading ▪ Lower trading volumes in a low volatility environment €5.6m $17.5bn revenue ADV ▪ Like-for-like at constant currencies, revenue decreased -3.4% -4.2% -9.4% POWER TRADING ▪ Lower power trading activity on Nord Pool
Slide 10: Post-trade revenue, including net treasury income, up +115.2% to €96.1 million
Post-trade revenue, including net treasury income, up +115.2% to €96.1 million in Q3 2021 Consolidation of Monte Titoli and CC&G, normalization of retail activity in the Nordic CSDs CLEARING Cash trading in €m Derivatives Equities Bonds Other ▪ Total clearing revenue: €27.5m, +85.3% CC&G Q3 2021 1.3
Slide 11: Advanced Data Services, Investor Services and Technology Solutions
Advanced Data Services, Investor Services and Technology Solutions ADVANCED DATA SERVICES Cash trading in €m ▪ Consolidation of the Borsa Italiana Group data activities ▪ Solid dynamic the index business Q3 2021 49.8 +€15.3m revenue ▪ Robust market data business Q3 2020 34.5 +44.3% ▪ Like-for-like a
Slide 12: Q3 2021 Financial Review
(A) Q3 2021 FINANCIAL REVIEW
Slide 13: Q3 2021 EBITDA up +72.4% to €203.0 million
Q3 2021 EBITDA up +72.4% to €203.0 million Consolidation of acquisitions and organic growth in €m +72.4% 57.9% EBITDA 3.7 margin -55.5 +0.4pts 203.0 -4.3 0.4 121.1 60.4% Like for like1) EBITDA margin 117.8 19.8 ▪ Borsa Italiana Group (acquired) ▪ 3Sens (acquired) ▪ VP Securities (acquired) ▪ Centevo
Slide 14: Q3 2021 Net Income up +64.9% to €115.8 million, Adjusted EPS up +18.1%
Q3 2021 Net Income up +64.9% to €115.8 million, Adjusted EPS up +18.1% to €1.21 per share in €m +64.9% -22.5 1.5 -3.9 9.9 €132.4m -22.9 Adjusted 115.8 85.3 -1.9 Net Income1) 70.2 €1.21 Adjusted EPS1) ▪ Borsa Italiana ▪ Mainly dividend Group D&A received from + 18.1% and PPA Euroclear Q3 2020 EBITDA
Slide 15: Cash flow generation and liquidity position
Cash flow generation and liquidity position CASHFLOW GENERATION in €m ▪ Q3 2021 EBITDA to net operating cash flow 213.5 203.0 conversion rate impacted by: ▪ Clearing activities of Nord Pool positively 117.8 EBITDA Net operating cash flow impacting changes in working capital 71.7 ▪ Excluding the impa
Slide 16: Liquidity
Liquidity 600.0 1,402.5 213.5 12.6 2.1 21.8 15.8 7.6 4.3 1.0 802.5 620.5 €400 m Targeted cash for operation Cash in Net operating (Acquisition, (Purchase) / Capex Dividends Payments of Dividends paid FX impacts Cash in Undrawn RCF Liquidity in Q2 2021 cash flow net of cash) Redemption of received le
Slide 17: Q&A
Q&A
Slide 18: Q&A - Speakers
Q&A - Speakers Stéphane Boujnah CEO and Chairman of the Managing Board Giorgio Modica Group Chief Financial Officer Anthony Attia Global Head of Primary Markets & Post Trade │ 18
Slide 19: Appendix
APPENDIX
Slide 20: Adjusted EPS
Adjusted EPS In €m unless stated otherwise Q3 2021 Q3 2020 Net income reported 115.8 70.2 EPS Reported (€ per share) 1.08 0.92 Intangible assets adj. related to acquisitions (PPA) (20.1) (5.4) Exceptional items (2.0) (3.5) Impairment - - Exceptional financing expense - - Tax related to those items 5
Slide 21: Q3 2021 income statement
Q3 2021 income statement unaudited, in €m Q3 2021 Q3 2020 % var % var l-f-l Total Revenues and income 350.6 204.8 +71.2% +10.2% Listing 50.8 35.8 +42.1% +11.7% Trading revenue, of which 124.2 75.9 +63.6% +11.5% Cash Trading 75.0 52.5 +42.7% +17.0% Derivatives Trading 13.5 10.8 +25.9% +2.6% Fixed inc
Slide 22: Balance sheet as at 30 September 2021
Balance sheet as at 30 September 2021 unaudited, in €m As at 30/09/21 As at 30/06/21 Non-current assets Property, plant and equipment 87.4 78.7 Right-of-use assets 70.2 72.5 Goodwill and other intangible assets 6,117.6 6,125.0 Deferred income tax assets 32.8 33.1 Investments in associates and JV 66.
Slide 23: Q3 2021 cash flows and outstanding debt
Q3 2021 cash flows and outstanding debt Outstanding debt issued unaudited, in €m Q3 2021 Q3 2020 Profit before tax 167.6 97.2 Amount Maturity Interest Adjustments for: €500 million 2025 Swap-to-floating - Depreciation and amortization 37.9 15.4 €750 million 2029 Fixed - Share based payments 2.5 2.3
Slide 24: 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 25: Investor Relations
INVESTOR RELATIONS Aurélie Cohen, Chief Communications and Investor Relations Officer Clément Kubiak, Investor Relations Manager ir@euronext.com +33 1 70 48 24 27 www.euronext.com/en/investor-relations