Euronext - 2019 Universal Registration Document
Operating and financial review 7 Overview
n Payment of contingent consideration payable and exercise of put option for remaining shares in Company Webcast B.V. During the first quarter of 2020, the Group paid the €5.0 million contingent consideration payable to Company Webcast B.V., as part of the 51% majority stake that was acquired on 14 February 2017. In addition, the minority shareholders exercised their put option for selling the remaining 49% of the shares in Company Webcast B.V. for an amount of €22.2 million. Consequently, the Group now has an ownership of 100% in Company Webcast B.V.
n Sale of investment in Algomi Ltd. During the first quarter of 2020, the Group entered into binding agreements to sell its 7.74% minority stake in Algomi Ltd. to BGC Partners. The transaction is expected to close in the course of 2020. The Group expects to receive net proceeds of approximately $3.0 million from the sale of its minority stake.
7.1.8
RESULTS OF OPERATIONS
Year ended 31 December 2019 compared to year ended 31 December 2018 and 31 December 2017 The table below sets forth Euronext’s results of operations for the years ended 31 December 2019, 2018 and 2017.
Year ended 31 December 2019 31 December 2018 31 December 2017
In thousands of euros
Revenue
679,108
615,033
532,294
Total revenue
679,108
615,033
532,294
Salaries and employee benefits
(153,145)
(118,488)
(104,363)
Depreciation and amortisation
(43,676)
(23,400)
(16,932)
Other operational expenses
(126,543)
(142,295)
(130,149)
Operating profit before exceptional items
355,744
330,850
280,850
Exceptional items
(21,871)
(21,474)
(14,787)
Operating profit
333,873
309,376
266,063
Finance costs
(11,851)
(5,481)
(3,553)
Change in fair value of financial liabilities
(13,275)
(3,200)
-
Other net financing income/(expense)
7,711
3,421
(47)
Results from equity investments
7,270
5,984
48,325
Share of net profit/(loss) of associates and joint ventures accounted for using the equity method, and impairments thereof
1,844
1,612
287
Profit before income tax
325,572
311,712
311,075
Income tax expense
(100,294)
(94,084)
(68,886)
PROFIT FOR THE YEAR
225,278
217,628
242,189
Profit attributable to: n Owners of the parent
221,966
215,968
241,297
n Non-controlling interests
3,312
1,660
892
154
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2019 UNIVERSAL REGISTRATION DOCUMENT
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