2024-02-15 16:45:01
PARIS, Feb 15 (Reuters) – Euronext reported better-than-expected fourth-quarter adjusted operating profit on Thursday, driven by record performance in fixed income, post-market activities and positive contribution of Euronext Clearing’s European expansion at the end of November.
Over the October-December period, the stock exchange operator posted adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) up 15.2% to 216.3 million euros.
Analysts were expecting an increase of 10.5%, according to a consensus compiled by the company and shared by ING.
“Despite an inflationary environment, Euronext was able to finance growth projects and exceed its revised cost forecasts. This was possible thanks to our cost discipline, the impact of exchange rates and a exceptional element”, declared the general manager and chairman of the management board, Stéphane Boujnah, in a press release.
For 2024, Euronext says it wants to continue its cost control policy and expects savings and synergies to offset inflation and rising costs in 2023.
Euronext also beat revenue expectations in the fourth quarter, with an increase of 7.8% to 374.1 million euros, compared to a consensus of +6.7%.
The group will propose a dividend for 2023 of 2.48 euros per share, an increase of 11.7% compared to the previous year.
Euronext gained momentum in 2021 with the acquisition of Borsa Italiana, allowing it to create a major bond trading platform and establish an internal clearing system. (Writing by Kate Entringer, edited by Jean Terzian)
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