Euronext, a prominent European capital market infrastructure, recently disclosed its financial performance for the first quarter of 2025. The company witnessed a substantial 30.4% year-over-year surge in foreign exchange (FX) trading revenue, totaling €9.2 million in Q1 2025. This growth was underpinned by robust trading volumes and a favorable volume mix.
Furthermore, Euronext reported a noteworthy 32.4% increase in fixed income trading and clearing revenue, amounting to €51.8 million in Q1 2025 compared to the same period in 2024. This growth was primarily driven by heightened fixed income trading activity supported by favorable market conditions.
Commodities trading and clearing revenue for Euronext also saw a significant uptick, reaching €29.6 million in Q1 2025, marking a 12.8% increase from Q1 2024. This growth was attributed to record intraday power trading volumes and dynamic agricultural commodity trading and clearing activities.
On the other hand, financial derivatives trading and clearing revenue for Euronext amounted to €14.4 million in Q1 2025, reflecting a slight decline of 4.8% compared to Q1 2024. This decrease was mainly linked to the reduction in average clearing fees.
Euronext’s adjusted EBITDA stood at €294.1 million, indicating a 17.0% increase, with an adjusted EBITDA margin of 64.1%, up by 1.6 percentage points. The company’s adjusted net income also rose to €183.5 million, showing an 11.8% increase, with adjusted earnings per share at €1.80, up by 13.9%.
Reported net income for Euronext surged to €164.8 million, representing a significant 17.9% increase, while reported earnings per share stood at €1.62, marking a 20.0% rise from the previous year.
Moreover, Euronext successfully managed its financial leverage, with a net debt to EBITDA ratio of 1.4x by the end of March 2025, in line with the company’s strategic plan. Notably, Euronext redeemed a €500 million bond associated with the acquisition of Euronext Dublin in April 2018.
The company’s Managing Board, with the approval of the Supervisory Board, proposed a dividend payment of €2.90 per ordinary share at the upcoming Annual General Meeting. This dividend, reflecting a 50% payout ratio of reported net income, is scheduled for distribution on 28 May 2025 to shareholders as of the record date on 27 May 2025.
Euronext’s robust performance in the first quarter of 2025 demonstrates its resilience and ability to capitalize on market opportunities amidst evolving dynamics in the financial landscape.
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