Euroclear delivers first half results
July 24, 2019

Euroclear has this week reported its results for the first half of 2019. Lieve Mostrey, Chief Executive Officer said:

"After a record level year for Euroclear in 2018, continued growth in the underlying key business metrics during the first half of this year have translated into strong performance for the Group.

This continued upward trend is fuelled by the attractiveness of our customer offer and our unique business model as an independent open architecture financial market infrastructure. We remain confident in our business income growth trajectory, and are committed to delivering long-term, sustainable value for all our key stakeholders."

Euroclear identified the following as financial highlights.

Operating income increased 8 percent compared to H1 2018, to EUR 725 million.

Business Income rose 4 percent to EUR 565 million, driven by continued growth in assets under custody combined with strong market activity levels across business segments.

Banking and other income increased 25 percent to EUR 160 million, boosted by client deposits and the benefit of higher US interest rates in H2 2018.

Operating costs increased 6 percent to EUR 413 million.

Decrease in YoY capitalization of costs since launching its Finnish platform in September 2018.

Despite accelerating investment in strategic priorities, we expect full-year cost growth at a level which delivers business income operating margin expansion.

Net profit rose 13 percent to EUR 217 million (H1 2018: EUR 192 million).

EPS also increased 13 percent to EUR 68.8 (H1 2018: EUR 61.1 per share).

NAV per share rose to EUR 1319 from EUR 1220 at December 2018 (H1 2018: EUR 1190 per share), primarily due to the decision to postpone distribution of the normal 2018 dividend to an anticipated interim dividend in Q4 2019 following the group restructuring last year.

It also listed the following key operating metrics.

Assets under custody reached more than EUR 30 trillion at the end June (H1 2018: EUR 29.2 trillion), an increase of 1 percent year-on year.

Record number of netted transactions settled in the Euroclear group reached 118 million, an increase of 2 percent compared to the first half 2018 for a total value of EUR 411 trillion (4 percent above H1 2018).

Euroclear's Collateral Highway mobilized a record EUR 1.3 trillion, up 1 percent year-on year.

Fund assets under custody increased by approximately 11 percent to EUR 2.2 trillion compared to year-end 2018.





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Euroclear has this week reported its results for the first half of 2019. Lieve Mostrey, Chief Executive Officer said:

"After a record level year for Euroclear in 2018, continued growth in the underlying key business metrics during the first half of this year have translated into strong performance for the Group.

This continued upward trend is fuelled by the attractiveness of our customer offer and our unique business model as an independent open architecture financial market infrastructure. We remain confident in our business income growth trajectory, and are committed to delivering long-term, sustainable value for all our key stakeholders."

Euroclear identified the following as financial highlights.

Operating income increased 8 percent compared to H1 2018, to EUR 725 million.

Business Income rose 4 percent to EUR 565 million, driven by continued growth in assets under custody combined with strong market activity levels across business segments.

Banking and other income increased 25 percent to EUR 160 million, boosted by client deposits and the benefit of higher US interest rates in H2 2018.

Operating costs increased 6 percent to EUR 413 million.

Decrease in YoY capitalization of costs since launching its Finnish platform in September 2018.

Despite accelerating investment in strategic priorities, we expect full-year cost growth at a level which delivers business income operating margin expansion.

Net profit rose 13 percent to EUR 217 million (H1 2018: EUR 192 million).

EPS also increased 13 percent to EUR 68.8 (H1 2018: EUR 61.1 per share).

NAV per share rose to EUR 1319 from EUR 1220 at December 2018 (H1 2018: EUR 1190 per share), primarily due to the decision to postpone distribution of the normal 2018 dividend to an anticipated interim dividend in Q4 2019 following the group restructuring last year.

It also listed the following key operating metrics.

Assets under custody reached more than EUR 30 trillion at the end June (H1 2018: EUR 29.2 trillion), an increase of 1 percent year-on year.

Record number of netted transactions settled in the Euroclear group reached 118 million, an increase of 2 percent compared to the first half 2018 for a total value of EUR 411 trillion (4 percent above H1 2018).

Euroclear's Collateral Highway mobilized a record EUR 1.3 trillion, up 1 percent year-on year.

Fund assets under custody increased by approximately 11 percent to EUR 2.2 trillion compared to year-end 2018.



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