Euronext Surpasses Q1 Earnings Forecasts with Athens Stock Exchange Deal
Strong Q1 Performance Driven by Strategic Acquisition and Market Volatility
By Mateusz Rabiega
May 19 (REUTERS) - Euronext on Tuesday reported first-quarter earnings that beat market expectations, as stronger trading, record non-volume business and its Athens Stock Exchange acquisition drove double-digit growth.
Financial Highlights
Adjusted earnings before interest, taxes, depreciation and amortisation rose 17% to 343.2 million euros ($398.9 million), above the 324.5 million euro forecast in a company-compiled poll.
CEO Commentary
"Our primary markets activity delivered the best first quarter in three years, despite elevated market volatility", CEO and Chairman Stéphane Boujnah said in a statement, adding that the listing of Czechoslovak Group was a key factor.
Business Drivers
Improvement Over Previous Quarter
The result marked an improvement after a slower fourth quarter, helped by growth in post-trade services and in business that supports capital raisings and listings, areas less tied to trading volumes.
Impact of Market Volatility
Trading was also stronger during the quarter, helped by the Iran war adding to market volatility.
Volatility and Asset Rotation
"Clearly a significant part of the cash equity trading performance is driven by this volatility created by events that are pushing for rotation of assets", Boujnah told Reuters, adding that the volatility spike was "even higher" than in the first quarter of 2025, which was driven by U.S. tariffs.
Athens Stock Exchange Acquisition
The full consolidation of the Athens Stock Exchange, acquired in November, also added to revenue and profit.
($1 = 0.8604 euros)
(Reporting by Mateusz Rabiega; Editing by Matt ScuffhamEditing by Matt Scuffham)
