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    ENX   NL0006294274

EURONEXT N.V.

(ENX)
  Report
Real-time Euronext Paris  -  07:22 2022-12-01 am EST
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Euronext N : Semi Annual report 2022

07/28/2022 EST

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

2

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

3

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

4

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

5

Disclaimer

Euronext NV published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2022 12:27:04 UTC.


ę Publicnow 2022
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Sales 2022 1 458 M 1 503 M 1 503 M
Net income 2022 440 M 454 M 454 M
Net Debt 2022 1 990 M 2 052 M 2 052 M
P/E ratio 2022 17,8x
Yield 2022 3,01%
Capitalization 7 753 M 7 995 M 7 995 M
EV / Sales 2022 6,68x
EV / Sales 2023 6,23x
Nbr of Employees 2 198
Free-Float 87,5%
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Number of Analysts 17
Last Close Price 72,74 €
Average target price 94,50 €
Spread / Average Target 29,9%
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StÚphane Boujnah Chairman-Managing Board & Group CEO
Giorgio Riccardo Modica Chief Financial Officer
Piero Novelli Chairman-Supervisory Board
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