Euronext N.V. reports today its 1st quarter revenues of €222.6mn, down 6% compared to Q1, 2004 which was a record quarter. During the first quarter 2005 our derivatives trading activity suffered from the lack of volatility of the short term part of the interest rates curve as well as equity options, explaining the decrease in revenues compared to 2004 where volumes were at an all time high.
Q1 EBITA will incorporate this decrease in revenues but be in line both with 2004 average quarterly figures and with the target for 2005. For the full year of 2005, the company reiterates its EBITA target of €250mn, as costs are under continuous tight management.
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