Euronext - 2020 Universal Registration Document

Financial Statements

Notes to the Consolidated Financial Statements

NOTE 9

SALARIES AND EMPLOYEE BENEFITS

Year ended 31 December 2020 31 December 2019

In thousands of euros

Salaries and other short term benefits

(143,563)

(108,443)

Social Security contributions

(39,515)

(32,993)

Share-based payment costs

(8,519)

(6,943)

Pension cost – defined benefit plans

(2,892)

(1,292)

Pension cost – defined contribution plans

(4,481)

(3,474)

(153,145)

TOTAL

(198,970)

At the end of the year, the number of employees, based on full- time equivalents (FTE) stood at 1,435 (2019: 1,071). The increase in FTE was primarily the result of additional employees of the newly acquired companies during the year.

In 2020, “Share based payments costs” primarily contain costs related to the LTI Plans 2017, 2018, 2019 and 2020. Details of these plans are disclosed in Note 28.

NOTE 10 DEPRECIATION AND AMORTIZATION

Year ended 31 December 2020 31 December 2019

In thousands of euros

Depreciation of tangible fixed assets

(10,094)

(9,898)

Amortisation of intangible fixed assets

(32,368)

(22,831)

Amortisation of right-of-use assets

(15,314)

(10,947)

(43,676)

TOTAL

(57,776)

Amortisation of intangible fixed assets included €22.2 million (2019: €14.5 million) of software and customer relations amortisation from acquired companies as from their acquisition dates (see Note 18).

NOTE 11 OTHER OPERATIONAL EXPENSES

Year ended 31 December 2020 31 December 2019

8

In thousands of euros

Systems and communications

(38,527)

(26,385)

Professional services

(54,989)

(37,070)

Clearing expenses

(33,067)

(29,402)

Accommodation

(6,767)

(5,467)

(31,950)

(28,219)

Other expenses (a)

TOTAL

(165,300)

(126,543)

(a) Other expenses include marketing, taxes, insurance, travel, professional membership fees, corporate management and other expenses.

In 2020, Professional services contained the acquisition cost related to Nord Pool and VP Securities (see Note 5). These costs were not included in Note 12 “Exceptional items”, as these transactions did not have a transformational character.

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2020 UNIVERSAL REGISTRATION DOCUMENT