Euronext has experienced positive earnings in the first quarter this year, attributed to strong organic growth from its diversified business model.
Stephane Boujnah
The trading venue saw Q1 2024 revenue and income up 8% when compared to the same period last year, totalling €401.9 million.
Overall trading revenue grew 7.4% year-on-year to €138.4 million, driven by strong results within its fixed income and power trading segments.
Fixed income revenue was up significantly – 34.5% compared to Q1 2023 – totalling €35.2 million, while power trading figures were up 23.7%, with a total revenue of €12.2 million.
Trading revenue figures were, however, offset by cash trading and derivatives trading, which were down 1.6% and 10.2% year-on-year, which resulted in totals of 70.6 million and €13.4 million, respectively.,
Euronext attributed declines to cash trading and derivatives trading to a softer trading environment.
The trading venue also posted positive results for FX trading, which saw revenues within the segment up 12.7% year-on-year, totalling €7.1 million.
Elsewhere, within Euronext’s post-trade business, total revenues were up 11.5%, achieving €104.8 million.
Contributing to this, clearing as well as custody and settlement figures were up 23.1% and 6%, with a total of €37 million and €67.8 million, respectively.
“In the first quarter of 2024, Euronext reached record revenue and income of €401.9 million. Strong organic growth in our non-volume related businesses, combined with record quarter in fixed income and power trading and double-digit growth in our post-trade activities, drove the Group revenue’s growth to +8.0%,” said Stéphane Boujnah, chief executive officer and chairman of the managing board of Euronext.