Euronext Reports Mixed Q1 Metrics, April Volumes Soar YoY

Euronext has released a tranche of financial metrics across both Q1 2015 and April, highlighting a mixed bag of figures.

Euronext, Europe’s largest exchange, has reported its financial results for Q1 2015, according to a recently released Euronext statement. 

During Q1 2015, third party revenue at Euronext increased to $146 million (€130 million) from $133 million (€118.7) in Q1 2014, or by 9.6% YoY.

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Moreover, Euronext suffered a notable reduction in operational expenses excluding depreciation and amortization, measured at -8.8% YoY when compared with Q1 2014. Finally, the exchange reported an EBITDA margin of 52.2%.

According to the recently appointed Jos Dijsselhof, Interim CEO and COO of Euronext NV, in a recent statement on the metrics, “Today we are announcing results that reflect the hard work we have put in to execute on our strategy and which demonstrate that we are on the right track. We have been able to over deliver on our promises, thanks to tight cost controls, robust volumes in our cash trading, strong tailwinds and a buoyant IPO market.”

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Furthermore, “I am delighted to have been given the opportunity to act as interim CEO. It is an honour to accept this position on an interim basis. As a team we have all worked hard to reposition Euronext as a leading capital financing centre in Europe. Our mission will not change and I am committed to defending the interests of the company, creating value for our shareholders and our clients, and fulfilling my role as CEO of this outstanding company.”

April 2015 Trading Volumes

Euronext also reported average daily transaction value on its cash order book during April 2015, which stood at $10,211 million (€9,070 million), representing a jump of 38% YoY from April 2014. In addition, activity on ETFs illustrated a noteworthy jump in April 2015, with an average daily transaction value at $718 million (€638 million), soaring 103% YoY from April 2014.

Despite the standout performance, Euronext’s average daily volume on equity index derivatives came in at just 251,692 contracts in April 2015, down -2.5% YoY from April 2014. By extension, the average daily volume on individual equity derivatives was down at 236,400 contracts in April 2015, incurring a decline of -4% YoY from April 2014.

This weakness was pared by Euronext’s activity on commodity derivatives, having yielded a rise of 26% in April 2015 when weighed against April 2014, with an average daily volume of 58,563 contracts traded.

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