Monday 12 November 2018

ISE owner reports 'solid' performance driven by consolidation of Euronext Dublin

The performance of Euronext was driven by the consolidation of Euronext Dublin Photo: Bloomberg
The performance of Euronext was driven by the consolidation of Euronext Dublin Photo: Bloomberg
Ellie Donnelly

Ellie Donnelly

Paris-based Euronext, which took over the Irish Stock Exchange earlier this year, has reported a 14.6pc increase in revenue to €157.3m in the three months to 30 June.

The performance was driven by the consolidation of Euronext Dublin and a continued focus on costs, the company said in its second quarter results today.

Euronext Dublin contributed €8.7m to the group’s revenue during the three month period.

Earnings before interest, taxation, depreciation, and amortisation at the group were €88.6m for the three months, a 12pc increase on the same period last year.

However the group’s earnings margin at 56.3pc, was down slightly on the second quarter of 2017.

Group costs increased due to recent acquisitions, including Euronext Dublin and FastMatch, and transactions costs, however Euronext's core business costs down.

"The second quarter saw the first contribution from Euronext Dublin, that diversifies our revenue profile, strengthens our listing franchise and positions Euronext as the world leading listing venue for debt," Stéphane Boujnah, CEO and Chair of Euronext, said.

"Our teams are now working on the integration that is progressing as planned."

In June this year Deirdre Somers resigned as chief executive of the Irish Stock Exchange to be replaced by insider Daryl Byrne, in the biggest change to the group since it was acquired by Euronext earlier this year in a deal valued at €137m.

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