Building on Recovery

Key statistics

This European ECM update includes an analysis of the performance of the major global indices and the factors that have influenced and shaped this performance. We will explore the market implications of (i) the pace of rates cuts by major central banks; (ii) inflation levels; (iii) the impact of the United States elections outcome on the stock market; (iv) economic growth prospects; and (v) increasing geopolitical tensions. In this report, we delve deeper into several hot topics such as “Current dynamics of a transforming European IPO market”, “How IPO marketing has adapted over time”, “Private to Public: Common Pitfalls” and Deloitte Netherlands latest “Dutch CFO Survey”.

Take a look at some key statistics of the report below:

• As of December 31, 2024, the main global indices continued to set and surpass record levels. Returns on major international indices ranged to 27%, with most posting strong double-digit gains and all closing in positive territory.
• Despite the slight uptick during the last quarter of the year, inflation has continued its positive trend, nearing the 2% target.
• Market activity increased in 2024; approximately €116 billion was raised through 1,261 transactions during the year, reflecting a 10% YoY increase in the amount raised.
• Regarding growth projections for 2025, the IMF estimates that the US economy will expand by 2.2%, while Europe is expected to grow at a slower pace of 1.7%.
• In the first half of 2024, the main Dutch index, the AEX, was by far the best performing European index and gained 17%. By the end of 2024 however, the AEX ended at a plus of 12%.
• The IPO market remains sluggish, with selective investors demanding more and companies looking to de-risk transactions
• IPO marketing in Europe has evolved significantly in the past few decades, shifting towards early preparation and visibility while reducing exposure
• When considering a move from private to public, company focus is often placed on specific matters and companies are relatively well prepared on these, but other key areas integral to the IPO are often neglected

Discover all our findings by downloading the latest ECM Update 2025 here.

About the team

The Deloitte ECM team comprises professionals from our Audit, Financial Advisory and Tax businesses with varied backgrounds including accounting, law and investment banking to provide a multi-disciplinary service model. The team offers a wide variety of services including Audit related services, Independent Advisor, advising public companies in relation to M&A, providing executive remuneration and tax advice and both Readiness and Assist services to prepare for and to support an IPO.

We hope you will find this ECM update both valuable and interesting. Please do get in touch if we can be of assistance or if you would like to learn more about our team or capital market transactions.