Euronext quarterly revenue rises about 10%, matches forecasts | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The reflection of a digital board at the Euronext stock exchange in the La Defense business district in Paris, France, March 10, 2025. REUTERS/Benoit Tessier [Purchase Licensing Rights, opens new tab]- Companies- Summary- CEO reiterates call for pan-European market consolidation- EBITDA rises 8.9% to 275 million euros, matc ...

Core Insights - Euronext achieved double-digit growth in 2025, with underlying revenue and income increasing by 12.1% to €1,823.2 million, driven by non-volume-related businesses and resilient trading performance [2][14][24] - The company plans to accelerate the execution of its strategic initiatives in 2026, including diversifying its commodities franchise and enhancing its European capital market infrastructure [8][10][11] Financial Performance - Full year 2025 underlying revenue and income rose to €1,823.2 million, a 12.1% increase from 2024, with non-volume-related revenue accounting for 59% of total revenue [3][16] - Adjusted EBITDA for 2025 was €1,143.1 million, up 13.6%, with an adjusted EBITDA margin of 62.7%, reflecting disciplined cost management [4][19] - Reported net income increased by 9.8% to €642.9 million, resulting in a reported EPS of €6.34 [24][25] Revenue Breakdown - Securities Services revenue grew to €330.7 million, a 6.9% increase, driven by strong growth in custody and settlement services [4][13] - Capital Markets and Data Solutions revenue reached €669.3 million, up 12.1%, supported by contributions from Admincontrol and Advanced Data Solutions [4][30] - FICC Markets revenue increased by 16.2% to €342.8 million, while Equity Markets revenue grew by 11.7% to €410.0 million, reflecting robust trading activity [4][36] Cost Management - Underlying operating expenses (excluding D&A) were €680.1 million, a 9.6% increase, aligning with revised guidance [6][17] - Euronext expects stable underlying expenses for 2026 at around €720 million, with additional costs from acquisitions and strategic growth investments [7] Strategic Initiatives - Euronext made significant progress in its "Innovate for Growth 2027" strategic plan, including the acquisition of Admincontrol and the establishment of an integrated ETF market in Europe [9][11] - The company plans to enhance its European CSD model and expand its retail offerings, aiming to improve liquidity and access across European markets [53][54] Dividend Proposal - A dividend of €321.5 million will be proposed at the 2026 Annual General Meeting, representing 50% of 2025 reported net income, marking a 9.8% increase from 2024 [5]

Company Developments - Bayer's stock fell by 7.3% in early trading after its Monsanto Unit proposed a $7.25 billion settlement for lawsuits alleging that its weed killer Roundup causes cancer [2] - Bayer anticipates an increase in provisions and litigation liabilities from €7.8 billion ($9.24 billion) to €11.8 billion, with approximately €5 billion in litigation-related payments expected in 2026 [3] Economic Indicators - The UK inflation rate decreased to 3% in January, down from 3.4% in December, indicating a potential shift in inflation trends compared to the US and eurozone [4] - Analysts predict that UK inflation could drop to 2% by the end of the year, which may lead to further interest rate cuts by the Bank of England [5] Market Reactions - European stocks opened higher, with the pan-European Stoxx 600 up by approximately 0.5%, while the UK's FTSE 100 and France's CAC 40 rose by 0.3%, and Germany's DAX increased by 0.4% [1] - The British Pound remained stable against the dollar at $1.3562, and British government bond yields held steady following the inflation data [8] Global Market Context - Asian stocks experienced gains in a holiday-thinned trade, with several markets closed for Lunar New Year [9] - U.S. stock futures were near flat, with traders awaiting the Federal Reserve minutes from the January meeting [9] - The upcoming personal consumption expenditures price index reading is expected to provide further insights into the economic state [10]

Core Viewpoint - The article emphasizes the importance of fundamental, income-oriented, long-term analysis in investment strategies across various sectors in developed markets globally [1]. Group 1 - Buy-side hedge professionals are encouraged to engage in discussions regarding investment ideas [1]. - The focus is on conducting thorough analysis to identify potential investment opportunities [1]. Group 2 - The article does not provide specific company or industry insights, focusing instead on the general approach to investment analysis [2][3].

Group 1 - The Italian state lender Cassa Depositi e Prestiti (CDP) is advocating for the replacement of Fabrizio Testa as the chief executive of the Milan bourse by pan-European exchange operator Euronext [1]

Core Insights - Euronext announced trading volumes for January 2026, highlighting its position as a leading European capital market infrastructure [1] Company Overview - Euronext operates across the entire capital markets value chain, including listing, trading, clearing, settlement, and custody services [2] - The company runs MTS, a prominent electronic fixed income trading market, and Nord Pool, the European power market [2] Market Position - As of December 2025, Euronext's regulated exchanges host over 1,700 listed issuers with a total market capitalization of €6.7 trillion, making it a significant player in global debt and fund listings [3] - Euronext accounts for 25% of European lit equity trading, offering a diverse range of products including equities, FX, ETFs, bonds, derivatives, commodities, and indices [3] Recent Developments - In November 2025, Euronext acquired a majority stake in the Athens Stock Exchange (ATHEX), enhancing its pan-European market infrastructure [4]

♪ ANNOUNCER: NEWSMAKERS AND MARKET MOVERS. THIS IS "THE PULSE" WITH FRANCINE LACQUA. FRANCINE: WELL, GOOD MORNING, EVERYONE.WELCOME TO "THE PULSE." I’M FRANCINE LACQUA HERE IN LONDON. AFTER MONTHS OF INTERVIEWS AND EXPECTATION, PRESIDENT TRUMP WILL ANNOUNCE THE NOMINEE. KEVIN WASH WOULD SUCCEED JEROME POWELL WHO HAS BEEN CRITICIZED NOT CUTTING RATES FASTER.PRESIDENT TRUMP HAS BEEN SEARCHING FOR A UNICORN LOYALIST AND IN THE PRESIDENT’S MAGA BASE AND GET PAST THE SENATE CONFIRMIZATION. DOES KEVIN WARSH TICK ...

Investors are increasingly concerned about developments in the US, prompting them to allocate more of their money elsewhere, according to Euronext CEO Stephane Boujnah https://t.co/jvhTwh9fkX ...

Core Viewpoint - Euronext has successfully completed a €250 million share repurchase program, repurchasing approximately 1.90% of its share capital at an average price of €127.03 per share [1][2]. Group 1: Share Repurchase Program Details - The share repurchase program was executed from November 18, 2025, to January 27, 2026, totaling 1,967,993 shares [1]. - The program was conducted in compliance with applicable regulations, including the Market Abuse Regulation and was authorized by the General Meeting of Shareholders on May 15, 2025 [2]. Group 2: Future Actions - During the 2026 Annual General Meeting scheduled for May 20, 2026, the Managing Board will seek authorization to confirm the cancellation of the repurchased shares [3]. Group 3: Company Overview - Euronext is a leading European capital market infrastructure, covering the entire capital markets value chain, including listing, trading, clearing, and settlement [5]. - As of September 2025, Euronext's regulated exchanges host over 1,700 listed issuers with a market capitalization of €6.5 trillion, handling 25% of European lit equity trading [6]. - In November 2025, Euronext acquired a majority stake in the Athens Stock Exchange, further expanding its market presence [7].

Group 1: Market Performance - France's equity index CAC 40 increased by 51.98 points or 0.64% to 8,118.66, supported by positive earnings updates and the Federal Reserve's decision to hold interest rates [1] - Schneider Electric rose more than 3%, while Legrand gained nearly 3%, and STMicroElectronics increased by 2.1% after forecasting first-quarter revenue above market expectations [2] - Shares of a spirits maker surged over 8% due to better-than-expected third-quarter sales but later lost most of the gains [3] Group 2: Company-Specific Developments - Sanofi reported a loss in its fourth quarter despite higher net sales, but projects continued profitable growth with sales expected to grow by a high single-digit percentage at CER in 2026 [4] - Sanofi proposed a dividend of 4.12 euros for 2025, a 5.1% increase from the previous year, and plans a share buyback program of 1 billion euros in 2026 [5] - Eurofins Scientific shares fell by 4.7%, while Dassault Systemes and Capgemini dropped by 2.2% and 2.1%, respectively [3][5] Group 3: Economic Indicators - The Eurozone Economic Sentiment Indicator (ESI) rose to 99.4 in January 2026, up 2.2 points from December 2025, marking the highest level since January 2023 [6] - Consumer confidence improved to -12.4, the highest since February 2025 [6] - Lending to Eurozone businesses increased by 3% year-on-year to a record €5.324 trillion in December 2025, indicating a recovery in credit demand [7]