Euronext – P&L Impact of IFRS 16 application in 2019
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EURONEXT – P&L IMPACT OF IFRS 16 APPLICATION IN 2019
Amsterdam, Brussels, Dublin, Lisbon, London and Paris – 18 April 2019 – Euronext, the leading pan-European exchange in the Eurozone, today announced the expected impact of IFRS 16 on its 2019 P&L.
Due to the adoption of IFRS 16 on 1 January 2019, Euronext expects in Q1 2019 a €2.7m positive impact on its EBITDA, a slightly positive impact on its operating profit (€0.1m) and an unsignificant impact on its net income. This impact in Q1 2019 is expected to be similar for the four quarters of 2019.
| Unaudited, In €m | QUARTERLY expected impact of IFRS 16 in 2019 (based on Q1 2019 impact) |
| Revenue | - |
| Operational expenses excluding D&A | -2.7 |
| Salaries and employee benefits | - |
| Other Operational Expenses | -2.7 |
| System & Communication | -0.3 |
| Professional Services | -1.2 |
| Clearing expense | - |
| Accommodation | -1.2 |
| Other Operational Expenses | - |
| EBITDA | +2.7 |
| Depreciation & Amortisation | +2.7 |
| Operating Profit before Exceptional items | +0.1 |
| Exceptional items | - |
| Operating Profit | +0.1 |
| Net financing income / (expense) | -0.1 |
| Results from equity investments | - |
| Profit before income tax | -0.1 |
| Income tax expense | -0.0 |
| Share of non-controlling interests | - |
| Net income | -0.0 |
Euronext’s 2019 cost guidance (“In 2019, Euronext expects to limit the growth rate of its operating costs to a low single digit1, despite the consolidation of Euronext Dublin for the full year of 20192”), remains unchanged, and does not include IFRS 16 impact mentioned above.
For more information on the opening balance sheet impact, please refer to Page 167 of the 2018 Registration Document available on .
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About Euronext
Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. With 1,300 listed issuers worth €3.5 trillion in market capitalisation as of end March 2019, Euronext is an unmatched blue chip franchise that has 24 issuers in the Morningstar® Eurozone 50 Index℠ and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs.
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1 Compared to Group operating costs excluding D&A for 2018 of €260.8m
2 For 2018, Euronext Dublin costs were only consolidated for 3 quarters. As a reminder, the operating costs for Euronext Dublin for Q1 2018 were €5.8m
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