Euronext earnings beat expectations on trading, Athens purchase

Euronext Athens Holding SA

19/05/2026 16:47

Adjusted EBITDA 6% above consensus

Volatility boosts trading income

Non-volume revenue aided by CSG IPO, consolidation

By Mateusz Rabiega

May 19 (REUTERS) - Euronext ENX.PA on Tuesday reported first-quarter earnings that beat market expectations, as stronger trading, record non-volume business and its Athens Stock Exchange acquisition drove double-digit growth.

Adjusted earnings before interest, taxes, depreciation and amortisation rose 17% to 343.2 million euros ($398.9 million), above the 324.5 million euro forecast in a company-compiled poll.

"Our primary markets activity delivered the best first quarter in three years, despite elevated market volatility", CEO and Chairman Stéphane Boujnah said in a statement, adding that the listing of Czechoslovak Group CSG.AS was a key factor.

The result marked an improvement after a slower fourth quarter, helped by growth in post-trade services and in business that supports capital raisings and listings, areas less tied to trading volumes.

Trading was also stronger during the quarter, helped by the Iran war adding to market volatility.

"Clearly a significant part of the cash equity trading performance is driven by this volatility created by events that are pushing for rotation of assets", Boujnah told Reuters, adding that the volatility spike was "even higher" than in the first quarter of 2025, which was driven by U.S. tariffs.

The full consolidation of the Athens Stock Exchange, acquired in November, also added to revenue and profit.

($1 = 0.8604 euros)

 (Reporting by Mateusz Rabiega; Editing by Matt Scuffham
Editing by Matt Scuffham)

 ((mateusz.rabiega@thomsonreuters.com))