ERNXY - Euronext N.V. (EUXTF) Q4 2023 Earnings Call Transcript
2024-02-16 08:33:04 ET
Euronext N.V. (EUXTF)
Q4 2023 Earnings Conference Call
February 16, 2024, 3:00 AM ET
Company Participants
Stéphane Boujnah - Chairman and CEO
Giorgio Modica - Chief Financial Officer
Anthony Attia - Global Head, Derivatives and Post-Trade Operations
Nicolas Rivard - Global Head, Cash Equity and Data Services
Conference Call Participants
Enrico Bolzoni - JPMorgan
Hurbert Lam - Bank of America
Bruce Hamilton - Morgan Stanley
Arnaud Giblat - BNP Paribas
Julian Dobrovolschi - ABN
Ian White - Autonomous Research
Mike Weiner - UBS
Tom Mills - Jefferies
Presentation
Operator
Good day. And welcome to Euronext’s Full Year 2023 Results Call, hosted by Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, joined by Giorgio Modica, CFO.
Throughout today’s presentation, all participants will be in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]
This meeting is being recorded. At this time, I’d like to hand the call over to Stéphane Boujnah. Please go ahead, sir.
Stéphane Boujnah
Good morning, everybody. Thank you for joining us this morning for the Euronext fourth quarter and full year 2023 results conference call and webcast. I am Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, and I will start with the highlights of the fourth quarter 2023, followed by the full year 2023 performance. Giorgio Modica, the Euronext CFO, will then develop the main business and financial highlights of the fourth quarter of 2023.
As an introduction, I would like to highlight four important points. First, Euronext is today stronger than ever. Thanks to our diversification efforts over the past few years. In 2023, we have delivered revenue growth close to 4% and even close to 8% in Q4. We have also significantly reinforced Euronext’s leadership position in Listing and Trading in Europe.
Second, we met our 2023 cost guidance. Thanks to our cost discipline, thanks to synergies and some positive one-offs, we continue to deliver ahead of schedule and despite an inflationary environment that everyone knows, we continue to do better on cost.
Third, we deliver a strong end of the year. With Q4 2023, adjusted EPS growing by plus 27.9% from last year.
Fourth, we are now present on the entire Trading value chain, thanks to the expansion of Euronext’s Clearing to European equities. This clearing strategic milestone was critical -- was a critical contribution to the €74 million of cumulative run rate synergies delivered at the end of 2023. This achievement is above our interim objective of €70 million targeted for the end of 2023....
Euronext N.V. (EUXTF) Q4 2023 Earnings Call Transcript