Euronext Posts Double-Digit Growth for Ninth Consecutive Quarter

Euronext, Europe's leading capital markets infrastructure, reported strong second-quarter 2026 results marked by record-breaking performance across its diversified business operations.

Underlying revenue and income reached €544.4 million, representing growth of 16.9% compared to the same quarter last year. Non-volume-related revenue accounted for 58% of total revenue, covering 170% of underlying operating expenses when excluding depreciation and amortization.

Business segment performance included:

• Securities Services revenue climbed to €96.9 million, up 12.5%, supported by record custody assets and increased demand for specialized services
• Capital Markets and Data Solutions revenue grew 17.2% to €193.8 million, benefiting from recent acquisitions and strong primary market activity
• Fixed Income and Commodities Markets revenue reached €98.4 million, up 12.3%, driven by consecutive record monthly trading volumes
• Equity Markets revenue surged 24.9% to €132.7 million, fueled by sustained market volatility and strong exchange-traded fund growth
• Net treasury income climbed to €22.5 million, up 12.5%

Underlying operating expenses excluding depreciation and amortization rose 9.5% to €184.4 million, reflecting costs associated with recent acquisitions and growth investments. Adjusted earnings before interest, taxes, depreciation and amortization reached €360.0 million, up 21.1%, with the adjusted margin improving to 66.1%.

Adjusted net income grew 19.9% to €245.0 million, while adjusted earnings per share increased 19.8% to €2.42. Reported net income climbed 19.1% to €218.8 million. Net debt to adjusted EBITDA stood at 1.3 times, within the company's stated target range.

Chief Executive Stéphane Boujnah highlighted: The quarter demonstrated the strength of Euronext's diversified business model, with double-digit growth across all segments. The company noted renewed momentum in listings and follow-on offerings, with international companies comprising nearly half of new listings. Euronext also confirmed it has been appointed administrator of key reference benchmark indices for the French sovereign debt market.

The company noted growing retail investor participation and upcoming expansion of its central securities depository in September 2026, with early client confirmations of participation. Management emphasized alignment with broader European capital markets integration initiatives aimed at reducing fragmentation and improving competitiveness.