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Euronext eyeing more deals despite YOY fall in Q2 profit

Dutch stock exchange operator Euronext NV reported unaudited second-quarter profit of €53.4 million, down from the year-ago €55.8 million.

EPS was 77 cents, compared to 80 cents in the second quarter of 2018.

Second-quarter revenue increased year over year to €159.0 million from €156.3 million, with listing revenue rising over the same period to €29.7 million from €27.4 million.

Operating expenses excluding depreciation and amortization amounted to €60.9 million, down from €68.7 million a year earlier. Depreciation and amortization costs rose on a yearly basis to €8.9 million from €5.6 million.

Euronext booked €10.0 million in exceptional items in the first half, mainly related to its acquisition of Norway's Oslo Børs VPS Holding ASA, increased financing expenses and lower results from equity investments, up from €6.2 million a year ago.

For the first half, the company reported profit attributable to owners of the parent of €109.5 million, down from €115.9 million a year earlier. EPS for the period fell year over year to €1.57 from €1.66.

Euronext CEO Stephane Boujnah said the company has begun integration works with Oslo Børs and will disclose synergy targets and plans Oct. 11.

Meanwhile, Boujnah said Euronext has leftover cash following its takeover of Oslo Børs for more "selective" deals and that the group is exploring opportunities to acquire market data or posttrade services providers, or potentially another independent exchange, Reuters reported.