Q1 2026 Euronext NV Earnings Call Transcript
Key Points
- Euronext NV (EUXTF) reported a record quarter with double-digit growth across revenue, EBITDA, and EPS.
- The company achieved a 15.3% year-on-year increase in revenue, reaching EUR 528.5 million.
- Adjusted EBITDA margin improved to 64.9%, reflecting strong cost discipline and operational leverage.
- Non-volume-related revenue accounted for 56% of total revenue, driven by contributions from Admin Control and Euronext Athens.
- Euronext NV (EUXTF) successfully launched Power Futures, expanding its presence in the energy market and reinforcing its position in Nordic and Baltic power derivatives.
- Underlying expenses increased by 12.7%, reflecting investments in innovation and recent acquisitions.
- Net treasury income decreased by 11.6% due to the migration of Italian markets to a new clearing framework.
- The company faces challenges in integrating ATEX and aligning its margins with the rest of the group.
- There is uncertainty regarding the impact of AI deployment on workforce efficiency and cost management.
- The transition to a new CSD model in Belgium, France, and the Netherlands may face gradual adoption and potential friction in tax and corporate actions.
Hello, and welcome to the Euronext First Quarter 2026 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 listen-only.
However, you will have the opportunity to ask questions at the end of the call.
This can be done by pressing pound key five on your telephone keypad to enter the queue.
I will now hand you over to your host, Stefan Bujna, to begin today's conference. Please go ahead, sir.
Good morning, everybody, and thank you for joining us for your next first-quarter 2026 results call. Apologies for this delay of a few minutes.
I'm Stephane Bosna, CEO and Chairman of the Managing Board of Euronex, and I will start with the highlights of this record quarter, and I will provide you with an update on our progress with the Innovate for Growth 2027
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