Euronext N : Semi Annual report 2022

TABLE OF CONTENTS

I.	Semi-Annual Financial Report as at 30 June 2022	3
II.	Condensed Interim Consolidated Financial Statements as at 30 June 2022	4
III. Management Statement	29
IV. Independent auditor's review report	30

SEMI-ANNUAL FINANCIAL REPORT AS AT 30 JUNE 2022

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I. Semi Annual Financial Report as at 30 June 2022

Performance and important events in the first half-year of 2022

For an overview of the main events that occurred during the first six months of 2022 and their impact on the unaudited Condensed Interim Consolidated Financial Statements as at 30 June 2022 please refer to Note 2 "Significant events and transactions" of the Condensed Interim Consolidated Financial Statements attached hereto and to the Press Releases, issued and available on Euronext's website (www.euronext.com) as from 28 July 2022.

Related party transactions

Euronext has related party relationships with its associates, joint ventures and key management personnel. Transactions with subsidiaries are eliminated on consolidation. For more details, please refer to Note 23 "Related parties" of the Condensed Interim Consolidated Financial Statements attached hereto.

Risks and uncertainties

In the 2021 Universal Registration Document issued by Euronext N.V. on 31 March 2022, Euronext has described certain risks and risk factors, which could have a material adverse effect on the Company's financial position and results. Those risk categories and risk factors can be found in Chapter 2 (pages 50 to 71) of the 2021 Universal Registration Document.

During the first six-months of 2022, these risk categories and risk factors did not substantially change. In view of Russia's invasion of Ukraine and the measures taken by the European Union/European Economic Area, the United Kingdom and the United States related to sanctions on Russia, the Group's overall risk position has not materially changed. The Group actively manages all impacts that it is aware of and analyses potential new risks on an ongoing basis.

For the second half-year of 2022, Euronext currently considers the risk categories and risk factors as described in the 2021 Universal Registration Document to be applicable. Additional risks not known to Euronext, or currently believed not to be material, could later turn out to have a material impact on Euronext's business or financial position.

SEMI-ANNUAL FINANCIAL REPORT AS AT 30 JUNE 2022

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II. Condensed Interim Consolidated Financial Statements as at 30 June 2022

Contents
Condensed Interim Consolidated Statement of Profit or Loss.................................................	5
Condensed Interim Consolidated Statement of Comprehensive Income................................	6
Condensed Interim Consolidated Balance Sheet....................................................................	7
Condensed Interim Consolidated Statement of Cash Flows.................................................	..8
Condensed Interim Consolidated Statement of Changes in Equity.........................................	9
Notes to the Condensed Interim Consolidated Financial Statements...................................	10
1.	General information.....................................................................................	10
2.	Significant events and transactions.............................................................	10
3.	Basis of preparation, significant accounting policies and judgments...........	11

4. Segment information............................................................…....................12

5.	Group information........................................................................................	13
6.	Business combinations................................................................................	14
7.	Revenue and geographical information.......................................................	15
8.	Salaries and employee benefits..................................................................	16
9.	Depreciation and amortization....................................................................	16
10.	Other operational expenses........................................................................	17
11.	Non-underlying items...................................................................................	17
12.	Net financing income / (expense)................................................................	18
13.	Results from equity investments.................................................................	18
14.	Gain on sale of subsidiaries........................................................................	18
15.	Share of net profit/(loss) of associates and joint ventures..........................	18
16.	Income tax expense....................................................................................	18
17.	Goodwill and other intangible assets..........................................................	19
18.	Shareholders' equity....................................................................................	19
19.	Earnings per Share.....................................................................................	20
20.	Borrowings..................................................................................................	20
21.	Derivatives financial instruments.................................................................	20
22.	Financial instruments..................................................................................	21
23.	Related parties............................................................................................	28
24.	Contingencies..............................................................................................	28
25.	Events after the reporting period.................................................................	28

SEMI-ANNUAL FINANCIAL REPORT AS AT 30 JUNE 2022

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Condensed Interim Consolidated Statement of Profit or Loss

		Six months ended 30 June 2022	Six months ended 30 June 2021
					(Re-presented (a))
In thousands of euros (except per share		Underlying	Non-underlying		Underlying	Non-underlying
Note	items	items (b)	Total	items	items (b)	Total (a)
data)
Revenue	7	736,968	-	736,968	564,483	-	564,483
Net treasury income through CCP business	7	29,080	-	29,080	9,564	-	9,564
Other income	7	4,383	-	4,383	3,937	-	3,937
Total revenue and income		770,431	-	770,431	577,984	-	577,984
Salaries and employee benefits	8	(147,726)	(2,588)	(150,314)	(125,171)	(3,291)	(128,462)
Depreciation and amortisation	9	(33,280)	(45,484)	(78,764)	(24,301)	(22,910)	(47,211)
Other operational expenses	10	(148,826)	(11,009)	(159,835)	(104,294)	(32,453)	(136,747)
Operating profit		440,599	(59,081)	381,518	324,218	(58,654)	265,564
Finance costs	12	(18,460)	-	(18,460)	(12,665)	(9,907)	(22,572)
Other net financing income/(expense)	12	362	-	362	2,120	-	2,120
Results from equity investments	13	-	-	-	12,524	-	12,524
Gain/(loss) on sale of subsidiaries	14	-	(930)	(930)	-	2,680	2,680
Share of net profit/(loss) of associates and	15	5,902	(1,526)	4,376	5,821	(4,294)	1,527
joint ventures accounted for using the equity
method, and impairments thereof
Profit before income tax		428,403	(61,537)	366,866	332,018	(70,175)	261,843
Income tax expense	16	(113,452)	16,193	(97,259)	(84,858)	10,454	(74,404)
Profit for the period		314,951	(45,344)	269,607	247,160	(59,721)	187,439
Profit attributable to:
- Owners of the parent		307,608	(44,897)	262,711	244,010	(59,166)	184,844
- Non-controlling interests		7,343	(447)	6,896	3,150	(555)	2,595
Basic earnings per share	19	2.89		2.46	2.87		2.17
Diluted earnings per share	19	2.88		2.46	2.86		2.17

1. The comparative period has been re-presented, comprising the removal of the exceptional items line and the addition of two columns reflecting 'underlying' and 'non-underlying' items. See Note 3 for more details.
2. Details of non-underlying items are disclosed in Note 11.

The above Condensed Interim Consolidated Statement of Profit or Loss should be read in conjunction with the accompanying notes.

SEMI-ANNUAL FINANCIAL REPORT AS AT 30 JUNE 2022

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