(Reuters) – Euronext announced its new strategic plan for 2027 on Thursday after having achieved its “Growth for Impact 2024” financial objectives a quarter early.

Between 2023 and 2027, the stock exchange operator expects organic growth in turnover and Ebitda of more than 5% on average per year.

Strong integration capabilities, solid organic growth and continued cost discipline enabled Euronext to achieve its 2024 targets a quarter ahead of schedule, according to Stéphane Boujnah, CEO and Chairman of the Management Board of Euronext.

In the third quarter, Euronext recorded a net profit of 159.5 million euros while analysts expected 147.6 million in a consensus compiled by the company.

Over the same period, the stock exchange operator posted adjusted earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) of 245.8 million euros, above the 242.6 million euros forecast by analysts, according to a consensus shared by society.

Euronext also said it expected underlying operational costs for the whole of 2024 at 620 million euros, whereas in February it had said it was targeting 625 million euros.

Euronext gained momentum in 2021 with the acquisition of Borsa Italiana, allowing it to create a major bond trading platform and establish an internal clearing system.

Euronext now operates stock exchanges in seven countries: France, Netherlands, Belgium, Ireland, Portugal, Italy and Norway.

For 2027, the group will maintain a dividend distribution rate of 50% of net income.

(Written by Mara Vîlcu, edited by Blandine Hénault)

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