Earnings jump by over a quarter at Irish Stock Exchange owner
Euronext, the Irish Stock Exchange owner, has reported a 26pc increase in earnings before interest, taxation, depreciation, and amortisation to €88m in its third quarter.
The group’s revenue jumped 17pc year-on-year to €150.9m during the three month period, according to a trading update.
Euronext Dublin, formally the Irish Stock Exchange, contributed €8.1m to revenue during the quarter.
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The group reported listing revenue of €27.8m, up 37.6pc, driven by the consolidation of Euronext Dublin and incremental contribution from corporate services.
Meanwhile cash trading revenue came in at €48.5m, an increase on 9.2pc year-on-year, which the company said was due to a resilient market share and effective yield management.
Commenting on the trading update, Stéphane Boujnah, CEO of Euronext, said that the company had delivered “strong” results, “driven by growth in all its business lines.”
“Since the beginning of the year, Euronext has diversified, consistently strengthened its position across all asset class traded, as well in non-trading activities, and delivered key milestones of our 2019 objectives for the core business,” Mr Boujnah said.
“Thanks to this good performance, Group EBITDA margin is above 58pc for the first nine months of 2018.”
In November last year the Irish Stock Exchange agreed a sale to Euronext for €137m.
Euronext operates the main exchanges in Paris, Amsterdam and Brussels.
Although relatively obscure, compared to share trading, there are more than 36,700 individual securities from 90 countries listed in Ireland.
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