Euronext Nv Unsp/Adr

Hello and welcome to the Euronext second quarter 2023 results call. My name is Laura and I will be your coordinator for today's event. Please note this call is being recorded and for the duration of the call your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing star 1 on your telephone keypad to register your question. If you require assistance at any point, please press star zero and you will be connected to an operator. I will now hand you over to your host, Stefan Bujna, CEO and Chairman of the Managing Board, joined by Giorgio Modica, the CFO, to begin today's conference. Thank you.

Good morning, everyone, and thank you very much for joining us this morning for your next second quarter 2023 results conference call and webcast. I am Stephan Boujna, CEO and Chairman of the Managing Board of Euronext. And I will start with the highlights of the second quarter. Giorgio Modica, the Euronext CFO, will further develop the main business and financial highlights of the quarter. Let me take you through the key aspects of this second quarter of this year. First, Euronext Q2 2023 results demonstrate the real success of our diversification strategy. Our revenue was almost stable, excluding foreign currency effects, despite a much less volatile environment than in Q2 last year. And this performance was enabled by strong organic growth from our non-volume related businesses and also from the dynamic quarter for fixed income businesses and power trading business. We continued to deploy or strong cost discipline in Q2 2023. And as a result, we reported an adjusted EPS of 1.34 euro, which is flat compared to the adjusted EPS of last year. And we reported net income of 120 million up plus 0.9%. Second, we confirmed or intermediate target of 70 million euro of community run rate synergies in relation to the Borsa Italiana integrations to be delivered at the end of 2023. We are well on track with the upcoming migration of other Italian markets to our OPTIC trading platform in September 2023. And we are also well on track and in a position to confirm the expansion of the Euronext clearing to all the Euronext markets, starting with equities a clearing in Q4 2023. Thus, we paved the way for the expansion of UNX clearing for the clearing of derivatives on all UNX markets in Q3 2024. This migration, with all the other projects, will contribute meaningfully to the targeted 115 million of Cumulated Run Rate EBITDA synergies to be delivered by the end of 2024.

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