Euronext’s core profit jumps on strong listings, cash trading

A stock market operator Euronext’s universal analyst works in the market services surveillance room center at the new Euronext headquarters at La Defense business and financial district in Courbevoie near Paris, France, October 30, 2015.

REUTERS/BENOIT TESSIER

European exchanges operator Euronext NV (ENX.PA) said its core earnings rose 26 percent in 2015, thanks to sustained listing activity and strong turnover from cash trading.

Trading activity in 2016 so far has been “resilient”, Chief Executive Stephane Boujnah said in a statement on Wednesday.

Euronext, which operates exchanges in Paris, Amsterdam, Brussels, London and Lisbon, plans to announce a new strategic plan in the second quarter of 2016, he added.

The company’s earnings before interest, tax, depreciation and amortization rose to 283.8 million euros ($316.9 million) in 2015 from 225.4 million euros a year earlier.

Euronext said total capital raised in primary activity rose to 12.4 billion euros from 52 new listings. In 2014, capital raised totaled 11.2 billion euros from 45 listings.

Revenue from listings rose 14.2 percent to 70.5 million euros as companies including ABN Amro Group (ABNd.AS), Amundi SA (AMUN.PA), Grandvision NV (GVNV.AS) and Intertrust NV (INTER.AS) joined Euronext markets.

Adjusted third-party revenue rose 10.1 percent to 518.5 million euros, beating the IPO objective of 500 million euros by the end of 2016, Euronext said.

Cash trading revenue increased 19.1 percent to 197.2 million euros.

Euronext proposed a dividend of 1.24 euros per share, up from 0.84 euros last year.

($1 = 0.8957 euros)

[Source:- Reauters]