Euronext - 2020 Universal Registration Document

Financial Statements 8 Notes to the Consolidated Financial Statements

SUMMARISED CASH FLOW INFORMATION

Commcise Software Ltd.

Nord Pool Holding AS

iBabs B.V.

Euronext FX Inc.

Company Webcast B.V.

2020

2019

2020

2019

2020

2019

2020

2019

2020

2019

(In thousands of euros)

Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities

(75,670)

–

10,203

11,919

4,067

1,338

14,091

12,881

1,385

3,334

162,239

–

(235)

(298)

(93)

(10)

(7,089)

(7,606)

(2,627)

(473)

(15,352)

–

(7,000)

(3,035)

(272)

231 (5,666)

(4,188)

(188)

(76)

NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS 71,217

–

2,968

8,586

3,702

1,559

1,336

1,087 (1,430)

2,785

NOTE 7

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

7.1 Interests in Associates and Joint Ventures Set out below are the associates and joint ventures of the Group as at 31 December 2020. The country of incorporation or registration is also their principal place of business, and the proportion of ownership interest is the same as the proportion of voting rights held.

Carrying amount (In thousands of euros)

% of ownership interest

Place of business/ country of Incorporation

Nature of relationship

Name of entity

2020 11.1%

2019

2020 61,461

2019 59,957

LCH SA

France

11.1% Associate (a)

-

-

European Central Counterpary N.V.

The Netherlands

-

20.0% Associate (b)

Immaterial joint ventures

2,142

2,270

Immaterial associates

4,448

4,799

TOTAL EQUITY ACCOUNTED INVESTMENTS 67,025 (a) LCH SA is a Continental European clearing house, offering clearing services for a diverse range of asset classes. As described in Note 3, the Group has determined that it has significant influence over LCH SA even though it only holds 11.1% of the voting rights. (b) European Central Counterparty N.V. (“EuroCCP”) is a CCP for pan-European equity markets providing clearing and settlement services. 68,051

7.2 Commitments and Contingent Liabilities in Respect of Associates and Joint Ventures The Group has no outstanding contingent liabilities with respect to its associates or joint ventures.

EuroCCP In 2019, the Group entered into a binding agreement to sell its 20% minority stake in EuroCCP. As a result of this agreement, the Group impaired the value of its investment by approximately €6.0 million, and classified the investment at its expected proceeds of approximately €8.8 million, as an asset held for sale as per 31 December 2019 (see Note 22).As a consequence of the impairment, EuroCCP contributed a €5.6 million loss to the line “Share of net profit/(loss) of associates and joint ventures accounted for using the equity method, and impairments thereof” in the Consolidated Statement of Profit or Loss for the year ended 31 December 2019. On 1 July 2020, the Group sold its 20%minority stake in associate EuroCCP to CBOE Global Markets, alongside the other EuroCCP shareholders, for a cash consideration of €8.8million. Following the sale, the investment was derecognised (see Note 22).

7.3

Summarised Financial Information For Associates and Joint Ventures

The tables below provide summarised financial information for those associates and joint ventures that are material to the Group. The information disclosed reflects the amounts presented in the Financial Statements of the relevant associates or joint ventures and not Euronext’s share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments and modifications for differences in accounting policy.

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2020 UNIVERSAL REGISTRATION DOCUMENT