October 10, 2019 / 3:48 PM / 2 months ago

Euronext eyes 2-3% annual revenue growth in 2019-2022

PARIS, Oct 10 (Reuters) - Pan-European stock market operator Euronext unveiled on Thursday a new set of financial targets for 2019-2022, saying it aimed to grow sales by 2% to 3% a year over the period.

Euronext, which operates stock exchanges in Amsterdam, Brussels, Dublin, Lisbon and Paris, also said it aims to reach an organic EBITDA margin above 60% in 2022 which would compare with a pro-forma EBITDA margin of 57% in 2018.

“Euronext is determined to build the leading pan-European market infrastructure by growing and seizing opportunities”, Euronext CEO Stephane Boujnah said in a statement.

Earlier this year, Euronext bought Norwegian stock exchange Oslo Bors for 700 million euros ($770 million).

Stock exchanges worlwide are looking for ways to diversify from their primary businesses of charging fees per transaction into more stable sources of cash flow. ($1 = 0.9088 euros) (Reporting by Maya Nikolaeva Writing by Matthieu Protard Editing by Dominique Vidalon)

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