Q4 2025 Euronext NV Earnings Call Transcript

Feb 19, 2026 / 08:00 AM GMT

Release Date Price: $29.13 (-1.05%)

Transcript

Key Points

Positve

Euronext NV (EUXTF) reported double-digit growth in revenue, EBITDA, and earnings per share for the full year 2025.
The company achieved a 12.1% increase in underlying revenue and income, reaching over €1.8 billion.
Non-volume related revenue, which constitutes 59% of total revenue, grew by 10.9%, driven by sustainable growth in custody and settlement.
Euronext NV (EUXTF) maintained a strong financial position with a cash position exceeding €1.5 billion and a leverage ratio of 1.5 times net debt to adjusted EBITDA.
The company proposed a dividend increase of nearly 10% at the annual general meeting, reflecting robust financial performance.

Negative

Underlying expenses, including ENA, increased by 9.6% to €680.1 million, reflecting growth in investments and acquisitions.
Net treasury income decreased by 19.4% due to lower average collateral costs and interest adjustments.
Other prorate revenue declined by 6.3% following the migration of the Italian market to a harmonized clearing framework.
Financial derivatives trading and clearing revenue declined by 5% due to a low volatility environment.
The adjusted EBITDA margin decreased by 1 point to 59.7% compared to the same quarter last year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ENX.PA - Euronext NV
Q4 2025 Euronext NV Earnings Call
Feb 19, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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And.

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Unidentified_2 [2]
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Hello and welcome to the Euronext Full Year 2025 results conference call. On today's call, we have Stefan Bujna, CEO and Chairman of the managing board, and Giorgio Modica, CFO.

Please note this conference is being recorded and for the duration of the call, your lines will be on this only.

However, you will have the opportunity to ask questions at the end of the call.

This can be done by pressing 5 on your telephone keypad to enter the cube.

I will now hand you over to your host Stefan Bujna to begin today's

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