Irish Stock Exchange Acquisition Boosts Euronext Q3 Revenue

The newly christened Euronext Dublin helped boost listing revenues

Exchange operator Euronext published its financial results for the third quarter of 2018 this Monday.

Data in those results indicates that the firm did, from a year-on-year perspective, reasonably well in the period lasting from the start of July to the end of September.

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This year, Euronext reported total revenues of €150.9 million ($169.90 million) for its third quarter.

For the same period last year, the number was €128.7 million ($144.90 million), a difference of €22.2 million ($25.00 million) and a 17.2 percent year on year increase for the firm.

Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to €87.8 million ($99.21 million) during the quarter, up from €69.5 million ($78.25 million) a year earlier.

Revenue growth was largely due to an uptick in cash trading and listing revenue.

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Income from the former grew to €48.5 million ($48.61 million) in this year’s third quarter. That was a 9.2 percent increase on last year’s €44.4 million ($49.99 million).

Listing income remained smaller, in monetary terms than cash trading but – in percentage terms – it was larger.

For the third quarter of last year, Euronext generated a total of €20.2 million ($22.74 million) from listing services.

This year that number grew by just under 40 percent to €27.8 million.

According to the exchange operator, that growth stemmed largely from the €137 million ($154.25 million) acquisition of the Irish Stock Exchange – now called Euronext Dublin – in March of this year.

FastMatch – an Electronic Communication Network (ECN) for exchange trading and another recent acquisition – also injected some extra cash into Euronext’s coffers.

The company’s results indicate that the ECN operator brought in €5.4 million ($6.08 million) for the third quarter of this year.

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