Euronext - 2020 Universal Registration Document

Financial Statements

Notes to the Consolidated Financial Statements

NOTE 8

REVENUE FROM CONTRACTS WITH CUSTOMERS

8.1 Disaggregated Revenue Information Substantially all of the Group’s revenues are considered to be revenues from contracts with customers. At 31 December 2020 and 2019, there were no customers that individually exceeded 10% of the Group’s revenue. Set out below is the disaggregation of the Group’s revenue from contracts with customers:

Timing of revenue recognition

Timing of revenue recognition

Product or service transferred

Product or service transferred

Year ended 31 December 2020

Year ended 31 December 2019

at a point in time

at a point in time

Major revenue stream (In thousands of euros)

over time

over time

Listing

145,473

12,291

133,182

128,951

7,587

121,364

of which

Primary listing services and other

113,047

1,049

111,998

104,491

600

103,891

Corporate services

32,426

11,242

21,184

24,460

6,987

17,473

Trading revenue

365,100

365,100

–

272,810

272,810

–

of which

Cash trading

262,226

262,226

–

205,565

205,565

–

Derivatives trading

49,206

49,206

–

44,324

44,324

–

FX trading

26,352

26,352

–

22,921

22,921

–

Power trading

27,316

27,316

–

–

–

–

Investor services

7,584

316

7,268

5,735

244

5,491

Advanced data services

139,036

1,269

137,767

128,756

1,210

127,546

Post-trade

177,228

118,264

58,964

104,831

70,791

34,040

of which

Clearing

67,056

67,056

-

55,237

55,237

–

Custody & Settlement and other

110,172

51,209

58,963

49,594

15,554

34,040

Euronext Technology Solutions & other revenue

49,725

2,540

47,185

37,805

1,885

35,920

Other income

172

172

–

220

220

–

TOTAL REVENUE FROM CONTRACTS WITH CUSTOMERS

884,318

499,952

384,366

679,108

354,747

324,361

In 2020, the “point in time” versus “over time” ratio in the line Custody and Settlement and othe r was impacted by the full year contribution of VPS and the impact of VP Securities as from the acquisition. These two CSDs generate relatively more transaction based

revenue compared to custody fees, whereas Interbolsa generates less transaction based revenue compared to custody fees. In 2019, Custody and Settlement and othe r comprises the full year contribution of Interbolsa and 6.5 months of VPS impact.

8

Set out below is the geographical information of the Group’s revenue from contracts with customers:

United Kingdom Belgium Portugal Ireland

United States Norway Sweden Denmark Finland

Hong Kong Total

France Netherlands

In thousands of euros

2020 Revenue from contracts with customers (a) 2019 Revenue from contracts with customers (a)

372,200

188,295 5,936 33,049 33,212 39,188 27,557 148,700 8,266 27,618 281 16 884,318

331,248 – 49 679,108 (a) Cash trading, Derivatives trading, Clearing and Advanced data services revenues are attributed to the country where the exchange is domiciled. Revenues from other categories are attributed to the billing entity. 160,072 5,299 30,966 33,236 35,668 23,202 57,075 2,293 –

247

2020 UNIVERSAL REGISTRATION DOCUMENT