Euronext // 2021 Universal Registration Document

Financial Statements 8 Notes to the Company Financial Statements

NOTE 44 FINANCIAL INCOME AND EXPENSES

2021 17,330 20,661 (37,968) 25,006 25,029

2020

In thousands of euros

Income from equity investments

—

Interest and similar income

18,202

Interest and similar expenses

(16,089) (32,312) (30,199)

Exchange differences

TOTAL

In 2021, Income from equity investments contains the dividend received from Euroclear S.A./ N.V. Interest and similar income includes €5.0 million (2020: €4.9 million) of income from interest rate swaps entered into by the Group (see Note 23 of the Consolidated Financial Statements) and the interest income on related party loans for €15.7 million in 2021 (2020: €13.2 million).

Interest and similar expenses increased, following the Bonds issued in May 2021 for the purpose of repayment of the drawdown of the bridge loan facility, which was used to finance the acquisition of Borsa Italiana Group in 2021 (see Note 29 of the Consolidated Financial Statements). In 2021, the exchange differences are mainly triggered by revaluations of the related party loans to Euronext Nordics Holding AS, Euronext UK Holdings Ltd., and Euronext US Inc. (see Note 46).

NOTE 45 TAX

2021

2020

In thousands of euros

Result before tax

(15,431)

(46,849)

Corporate income tax current financial year Corporate income tax previous financial years

132 497 629

7,498

—

TOTAL

7,498

tax rate to 25.8%. Reference is made to Notes 15 and 19 of the Consolidated Financial Statements for more information on the tax rate changes.

The effective tax rate mainly deviates from the applicable tax rate as a result of the non-deductible expenses. For the year 2021, the statutory corporate income tax rate was 25%. For the year 2022 and onwards, the Netherlands have increased the corporate income

2021

2020

Effective tax rate

4%

16% 25%

Applicable tax rate

25%

296

2021 UNIVERSAL REGISTRATION DOCUMENT