Euroclear plc Annual report 2015

About Euroclear

"Euroclear is starting to reap the benefits of its earlier investments further enhancing the service delivered to clients and supporting the business and regulatory environment, while maintaining its strong cost discipline."

Marc Antoine Autheman

Chairman of the board

"Our performance over 2015 has strengthened Euroclear as a preeminent provider in an everchanging environment, which is well positioned for future growth opportunities."

Tim Howell

Chief Executive Officer

Euroclear by the numbers

The Euroclear group delivered robust business performance in 2015 driven by increased activity levels and flat core operating costs.

Values of securities held
(in € trillion)¹
2015	27.5
2014	26.0
2013	24.2
2012	23.0
2011	22.1

Turnover
(in € trillion)¹
2015	674.7
2014	623.6
2013	572.8
2012	541.6
2011	580.6

Number of netted transactions (in millions)
2015	190.7
2014	181.6
2013	170.4
2012	158.9
2011	163.3

Average daily collateral provision outstanding (in € billion)²
2015	1,067.7
2014	886.9
2013	787.3
2012	700.6
2011	503.1

Net fee income margin
(in %)
2015	35.9
2014	35.7
2013	32.7
2012	27.6
2011	21.5

Unit cost evolution
(in bps)
2015	0.26
2014	0.27
2013	0.28
2012	0.31
2011	0.33

Adjusted return on equity
(in %)
2015	8.7
2014	8.7
2013	8.3
2012	7.8
2011	7.6

Adjusted net earnings per share
(in €)
2015	87.0
2014	78.6
2013	69.3
2012	63.0
2011	57.8

Operating income
(in € million)
2015	1,130.2
2014	1,039.6
2013	1,016.0
2012	1,028.4
2011	1,021.8

Operating profit before impairment and taxation
(in € million)
2015	400.6
2014	359.2
2013	352.7
2012	327.9
2011	296.3

Shareholders' equity
(in € million)
2015	3,476
2014	3,244.5
2013	3,212.5
2012	3,184.5
2011	3,010.6

Dividend per share
(in €)
2015	36.3
2014	31.5
2013	29.6
2012	25.4
2011	17.4

Performing strongly across the group

	Turnover	Values of securities held	Number of netted transactions
2015	€442.6 trillion	€12.4 trillion	83.3 million
change from 2014	+12.2%	+5.3%	+10.8%

	Turnover	Values of securities held	Number of netted transactions
2015	€147.5 trillion	€6.1 trillion	55.3 million
change from 2014	+3.7	+7.9%	-1.4%

	Turnover	Values of securities held	Number of netted transactions
2015	€0.9 trillion	€0.3 trillion	2.5 million
change from 2014	+32.1%	+21.3%	+17.3%

	Turnover	Values of securities held	Number of netted transactions
2015	€67.4 trillion	€6.1 trillion	24.0 million
change from 2014	-5.5%	+5.5%	+6.5%

	Turnover	Values of securities held	Number of netted transactions
2015	€4.9 trillion	€1.0 trillion	6.2 million
change from 2014	+12.0%	-3.9%	+9.4%

	Turnover	Values of securities held	Number of netted transactions
2015	€0.6 trillion	€0.3 trillion	6.8 million
change from 2014	-0.9%	+6.9%	+8.1%

	Turnover	Values of securities held	Number of netted transactions
2015	€10.7 trillion	€1.4 trillion	12.6 million
change from 2014	+13.3%	+12.2%	-8.0%

Euroclear in 6 steps

Scale provider of post trade services

€27.5 trillion assets held in custody for our clients

over 1 million securities worldwide, 5% year-on-year-growth, 191 million transactions processed, 8% year-on-year growth, €675 trillion in turnover

Step 2: Asset safety & resilience

Asset safety & resilience

Step 1: Scale provider of post trade services

Step 3: Euroclear's DNA

Euroclear's DNA

Support an open marketplace where scale and connectivity across the spectrum of market participants are competitive strengths.

To be profit moderated with the financial discipline of a 'for-profit' entity and the commitment to support market stability, deliver shared economies of scale, and develop markets locally and globally.

Serve the public good by ensuring the efficiency of markets and actively enabling risk-reduction