Euronext, a prominent European capital market infrastructure, has recently reported its robust performance for the first quarter of 2025. The results showcase a strong start to the year, marked by significant growth in non-volume-related revenue, record FICC trading volumes, and exceptional market volatility. The financial report, published on May 14, 2025, reveals a 14.1% increase in revenue and income, amounting to €458.5 million.
The revenue growth was driven by various segments within Euronext. Securities Services revenues surged to €83.4 million, reflecting a 6.8% increase, mainly fueled by double-digit growth in custody and settlement revenue. Capital Markets and Data Solutions revenue climbed to €157.4 million, showing a 6.6% rise, supported by the expansion of Euronext Corporate and Investor Solutions. Net treasury income saw a substantial increase to €18.6 million, demonstrating the positive impact of Euronext Clearing expansion.
Volume-related revenue was particularly strong due to the high market volatility in the first quarter of 2025. FICC Markets reported revenue of €90.7 million, a notable 25.1% increase driven by exceptional performance in fixed income trading and clearing, commodities trading, and FX trading. Equity Markets revenue also saw significant growth, reaching €108.4 million, up by 18.0% due to heightened volatility.
Adjusted EBITDA for the quarter stood at €294.1 million, marking a 17.0% increase compared to the same period in 2024. Adjusted net income reached €183.5 million, reflecting an 11.8% growth. Stéphane Boujnah, the CEO of Euronext, expressed satisfaction with the company’s performance, emphasizing the strategic initiatives that drove revenue growth and the achievement of record adjusted EPS of €1.80 per share in Q1 2025.
Euronext’s successful redemption of a €500 million bond in April 2025 contributed to maintaining its net debt to EBITDA ratio within the target range outlined in the “Innovate for Growth 2027” strategic plan. The company also announced the completion of the acquisition of Admincontrol, a leader in governance SaaS, to strengthen its presence in the Nordics and enhance subscription-based revenue.
Looking ahead, Euronext continues to innovate and consolidate its position as a leader in the European financial markets. Initiatives like the launch of a European Common Prospectus in English aim to facilitate access to capital markets and promote a competitive Savings and Investment Union. The company’s commitment to supporting European strategic autonomy further underscores its dedication to driving growth and competitiveness in the market.
