Euronext hikes costs guidance as trading profits soar
2022.05.17 19:16
FILE PHOTO:The Euronext logo is seen at the financial and business district of La Defense, amid the outbreak of the coronavirus disease (COVID-19), in Paris, France, November 10, 2020. REUTERS/Benoit Tessier
(Reuters) – Euronext on Tuesday reported record quarterly revenues as the pan-European stock exchange profited from high market volatility during times of international crises and improved cost control.
The group said in a statement that progress on the integration of Borsa Italiana, which it bought last year in a 4.4-billion-euro ($4.64 billion) deal, allowed it to slightly raise its costs guidance by an overall 20 million euros.
“Throughout this first quarter, we pursued a strong momentum in our integration plan and in the realisation of targeted EBITDA (earnings before interest, taxes, depreciation and amortisation) synergies,” the group said in a statement.
Euronext, which runs the stock markets of Paris and Amsterdam among others, posted first-quarter revenues of 395.7 million euros, up from 370.1 million in the previous quarter and a 58.8% year-on-year increase.
Its adjusted EBITDA also grew by 66.8% to 252.2 million euros from last year.
($1 = 0.9489 euros)
(This story corrects to fix spelling of “Borsa Italiana” in 2nd paragraph)
