Deutsche Börse remained on a growth path in the third quarter.
Both net sales and earnings increased, but analysts’ forecasts were missed on the earnings side. As in the previous quarter, an important growth driver was the significantly increased interest income on customer funds at the Clearstream subsidiary. The stock exchange operator again raised the outlook for the full year 2023 due to consolidation effects.
Revenues increased in the third quarter to around 1.19 billion euros from 1.09 billion euros in the same period last year. This means that the analysts’ consensus forecast of 1.19 billion was exactly met.
EBITDA climbed to 685 million euros from 642 million. The consensus estimate of 712 million euros was therefore not reached. The after-tax result rose to 400 million euros from 373 million in the previous year – the market forecast was 437 million euros and was therefore missed. Earnings per share amounted to 2.16 euros per share after 2.03 euros.
According to further information, operating costs increased in the third quarter to 505 million euros from 446 million in the comparable period. Analysts had forecast an average cost of 476 million euros.
Due to the business development to date and the additional contribution from Simcorp in the fourth quarter, Deutsche Börse increased its net revenue forecast for 2023 to around 5.0 billion euros and EBITDA to around 2.9 billion euros. The stock exchange operator previously assumed that it would exceed the previous forecast ranges for net revenue of 4.5 to 4.7 billion euros and for EBITDA of 2.6 to 2.8 billion euros. On average, analysts expect net sales of 4.83 billion euros and EBITDA of 2.89 billion euros.
In XETRA trading, Deutsche Börse shares temporarily lost 1.15 percent to 155.40 euros.
FRANKFURT (Dow Jones)
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