Euronext: Gateway to the uro zone

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Euronext Gateway to the uro zone
Holland
France
Belgium
Portugal
April 2006
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(No Transcript)
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Euronexts competitive position in Europe
MARKET CAPITALISATION European cash equity
market capitalisation (year end 2005)
CENTRAL ORDERBOOK Value traded ( billion,
2005)

• Largest equity market in continental Europe
• Largest central orderbook in Europe

Source FESE, Euronext
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Euronext International Listings
Breakdown of listed companies
Selected international companies Arcelor, Corus
Group, Daimler Chrysler, Deutsche Bank, Exxon
Mobil, Fiat, Ford, General Motors, General
Electric, Hitachi, Honda, HSBC, McDonalds, Maroc
Telecom, Mittal Steel Corp, Mitsubishi Electric,
NEC, SES Global, Sharp...
International Companies
Selected domestic companies ABN Amro, AXA, BNP
Paribas, Carrefour, Danone, EDF, Fortis, France
Telecom, GDF, Heineken, ING Group, LOréal, LVMH,
Michelin, Philips, Renault, Royal Dutch Shell,
Sanofi-Aventis, Société Générale, Suez, Total,
Unilever
Domestic Companies
25 of Euronexts 1,300 companies are
international
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Top ranked for raising fresh capital in the world
Selected Deals (capital raised)
Milestones

• 17.2 bn fresh capital raised in 2005
• 78 new listings
• The worlds largest IPO 2005 EDF
• An additional mkt cap of 105 bn

• 7,000m

EDF GDF Telenet Eutelsat RHJ International Tom
Tom Endemol
3,482m

• 1,060m

• 860m

Key messages

• 657m

• Key market for raising capital
• More privatisations than any other exchange
• Highly active hi-tech segment

• 467m

• 251m

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Unique access to European asset managers

• Geographical split of investment fund assets
  typifies wider European investment profile
• Euro zone countries dominate 85 of total
  Assets under management
• Fragmented market cross-border access is key
• Euronext gives access to UK based investors
  (all major London investment banks are active
  members)as well as to the broader Euro zone

Source European Fund and Asset Management
Association
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Listing requirements
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Eurolist the Main Board

• One cross-border regulated market - one rule book
• One single cross-border trading platform
• Borderless
• Companies are classified in alphabetical order
  and identified on the basis of capitalisation
  rather than on geographic location
• Equal opportunity for international companies to
  join key indices

Listings and on-going requirements

• Minimum 25 shares distributed to the public
• Three-year track record required
• Recognised accounting standards or IFRS
• On-going requirements
• Audited annual report and half-year report
• Timely disclosure

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Alternext the Junior Market

• Alternext is an exchange-regulated market
• Designed for small and mid-cap companies
• Easy, cost-effective access to the capital
  markets (two-year track record / recognised
  accounting standards)
• Compliance with investor disclosure rules
  (on-going obligation less demanding)
• Listing sponsor provides guidance and ensures
  compliance
• Open for companies from all sectors and countries

• A successful launch

• Current market cap (31 Mar 06) 1,768m
• Avg perf. since launch 77
• No. listed companies 29

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Euronext flexible services for intl companies

• Language
• English or local Euronext language, at
  issuers wish
• Accounting standards
• IFRS or any standard accepted by the regulator
• Regulatory environment
• Sound regulatory framework - conform to EU
  standards - provides credibility
• No Sarbanes Oxley regulation!
• Single regulatory entry point gives broad
  European access
• EU Prospectus Directive single European passport
  for issuers

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Why join the Euronext markets?

• Gateway to the Eurozone
• Publicity 453 million consumers
• Huge pool of assets under management
• Euro key currency
• Leading European exchange with a pan-European
  reach
• Top-ranked in raising fresh capital
• Excellent market liquidity
• Largest central order book trading in Europe
• An exchange without borders
• Truly cross-border
• International companies can join local indices
• A recognised marketplace
• Sound regulatory framework
• Enhancing companys profile to international
  standards

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Case studies
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EDF privatisation
Activity EDF is Europes biggest energy group
and France's leading electricity producer. Sales
are distributed geographically as follows France
(62.8), Europe (32.7), and other (4.5).
Key figures (2004) Revenues 46.9bn Net
profit 1.3bn
Deal size (Nov. 05) Valuation 58bn P/E ratio
45x Funds raised 7bn ( US8.4bn)
Listing coodinators CALYON, Morgan Stanley, ABN
AMRO Rothschild, BNP PARIBAS Citigroup, Cazenove,
Deutsche Bank, Dresdner Kleinwort Wasserstein,
Goldman Sachs International, HSBC, Merrill Lynch,
Société Générale, UBS
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EDF broad take-up

• Deal allocation
• Retail investors 60 / Institutional
  investors 40
• Over-subscription rate
• Retail offer 1.6x representing a total
  demand of 6.7bn
• Global placement 5x representing a total
  demand of 10bn
• Key facts
• Largest privatisation of the year
• Strong retail response - attracting nearly 5
  million investors
• Broad investor take-up
• After-market performance (43) shows high
  interest from institutional investors
• Euronext is a key market for privatisations and
  large transactions

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EDF an impressive start

• Current valuation of 83bn
• Sharp increase 43 rise in 5 months -
  outperforming the market threefold
• Trading activity (daily average) 160m
• Energy companies are well-represented on Euronext

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TOM TOM N.V.
Activity TomTom is a leading provider of
personal navigation products and services to the
consumer mass market. TomTom products include
integrated devices, which enables navigation
right out of the box (e.g. screen in car) and
non-integrated solutions for navigation on
third-party devices like PDAs and smartphones.
Key figures (2004) Revenues 192.4m Net profit
27.7m
Deal size (June 05) Valuation 1,857m P/E
ratio 67x Price/Revenue 9.2x Funds raised
467m (of which capital increase of 124m)
Goldman Sachs International and Lehman Brothers
acted as joint leads
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TOM TOM N.V.
Share Allocation
Allocation by Style
Allocation by Geography
Transaction was 10 x subscribed
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TOM TOM N.V.

• Share price 50, outperforming index
• Free float 29
• Trading activity (daily average) 18.7m
• Index inclusion EURONEXT150

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Need more information?Please contact us

• Mrs. Martine Charbonnier
• Executive Director Listing Issuer Relations
• Phone [phone]
• Email m.charbonnier_at_euronext.com
• Mr. Erik Wenngren
• Director - International Listings
• Phone [phone]
• Email e.wenngren_at_euronext.com
• Mr. Nathanael Mauclair
• Deputy Director - International Listings
• Phone [phone]
• Email n.mauclair_at_euronext.com

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www.euronext.com/listing