Euronext quarterly revenue rises about 10%, matches forecasts

Core Insights - Euronext reported a revenue of 456.4 million euros ($539.5 million) for Q4 2025, marking a nearly 10% increase from 2024 and aligning closely with the forecast of 457.1 million euros [1] - EBITDA rose by 8.9% to 275 million euros, meeting expectations but showing a slowdown from previous double-digit growth [1] - The company plans to propose a dividend of 321.5 million euros, representing 50% of its reported net income for 2025, at the upcoming annual general meeting in May [1] Listings Activity - After a period of low activity, Euronext experienced a resurgence in listings towards the end of 2025, highlighted by notable debuts such as Czech arms producer CSG and Magnum Ice Cream, which was spun off by Unilever [1] - The defense sector has emerged as a key area for IPOs, driven by high valuations and strong investor demand for growth opportunities [1] - Upcoming prominent listings in Paris are anticipated for 2026, including a dual listing for KNDS, a Franco-German tank manufacturer, planned for June or July [1] Market Consolidation - Euronext CEO Stéphane Boujnah emphasized the need for deeper pan-European market consolidation, particularly as the company integrates the recently acquired Athens Stock Exchange [1] - Boujnah argued that fragmented liquidity in Europe necessitates consolidation to effectively compete with major exchanges like NYSE and Nasdaq [1] - He suggested that some form of consolidation is likely within the next decade, either proactively or reactively in response to market pressures [1]