Euronext announces strong Q3 2024 financial growth, driven by record FX trading revenue and solid performance across segments.
Euronext announces strong Q3 2024 financial growth, driven by record FX trading revenue and solid performance across segments.
Euronext has announced its financial results for Q3 2024, highlighting solid growth across multiple business segments. The company reported a 27.6% surge in foreign exchange (FX) trading revenue, reaching a record €8.2 million in Q3 2024.
This growth was driven by increased market volatility and a higher market share, with FX trading revenue up 28.8% on a like-for-like basis at constant currencies compared to last year. Euronext posted €396.3 million in total revenue and income for Q3 2024, a 10% year-on-year increase. Robust trading and post-trade services activity primarily fueled the strong performance, supported by a dynamic market environment across most asset classes.
Additionally, the positive contribution of Euronext’s European expansion of its Clearing services in late 2023 added to the group’s performance. The company’s revenue rose 9.7% on a like-for-like basis, excluding foreign currency impacts. Non-volume-related revenues, which accounted for 58% of total group revenue, slightly declined from the previous year. This was due to a strong performance in fixed-income trading and other volume-related activities.
Euronext’s focus on cost control was evident, with underlying operating expenses increasing by just 2.7% to €150.5 million, primarily due to seasonal factors and continued investment in growth. Adjusted EBITDA for Q3 2024 reached €245.8 million, up 15.1% compared to Q3 2023, while adjusted operating profit increased by 15% to €224.7 million.
These results reflect Euronext’s solid operational efficiency and strategic investments. However, results from equity investments were lower, at €23.4 million, compared to €54.4 million in Q3 2023, due to a gain recorded in the previous year from the sale of Euronext’s stake in LCH SA.
As a result, the group’s reported net income attributable to the parent company’s shareholders fell by 4.2% to €159.5 million, translating to an earnings per share (EPS) of €1.54. Despite this, adjusted net income increased by 23.4% to €180.8 million, reflecting higher profits and reduced outstanding shares. Adjusted EPS (basic) was €1.74, marking a 26.1% year-on-year improvement.
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