- Revenues: €1,102.2m up 14.6%
- Costs: up 7.7%, including corporate deals costs (€47.6m)
- EBITA: €409.0m up 28.4%, margin of 37.1%
- Net Profit: €361.8m up 50.8%
- Increase of the diluted EPS by 49.4%, at €3.23
- The tender offer has been opened from 15 February until 21 March
Euronext NV announced today its results for the full year 2006. They are the strongest ever. As already reported, the Euronext revenues reached an all-time record of €1,102m, an increase of 14.6% compared to last year. The increase is mainly explained by the ongoing positive market conditions for nearly every business unit.
Operating expenses grew by 7.7% during the period mainly due to the advisory costs linked to the corporate deals, which totalled €47.6m since the beginning of the year. As a result, the profit from operations (“EBITA”) reached €409.0m, i.e. an increase of 28.4% compared to the previous record level in 2005 and the EBITA margin stood at 37.1%, a substantial improvement compared to 33.1% in 2005 on a restated basis(1). Excluding above advisory costs, EBITA and EBITA margin would have respectively amounted to €456.6m and 41.4%.
The net financing income remained stable year on year at €11.5m despite €445m paid in dividend and repayment of capital in the middle of last year. As reported earlier in 2006, a capital gain of €15.5m was booked in relation to the sale of CIK to Euroclear as of 1 January 2006. Finally, the income from associates was multiplied by 2.9 between 2005 and 2006, driven by the performance of LCH.Clearnet (€36.9m) and AEMS (€15.4m).
During the period, the profit before tax amounted to €489.6m, up 37.0% year-on-year and the net profit jumped by 50.8% (compared to its restated level in 2005) from €240m to €361.8m. On a per share basis, the diluted earnings stood at €3.23, +49.4% compared to diluted EPS at the end of 2005.
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