FRANKFURT (dpa-AFX) – After a strong result in the second quarter, Deutsche Börse is again becoming somewhat more optimistic. The group now expects net sales in the current year to be “significantly” above the original target of 3.8 billion euros, as the group announced on Tuesday after the stock exchange closed in Frankfurt. Earnings before interest, taxes, depreciation and amortization (Ebitda) are now being increased to “significantly” more than 2.2 billion euros.
After the first quarter, the group announced that it intends to exceed the two target values. In the three months to the end of June, both net sales and the operating result increased by double digits, driven by a high degree of uncertainty on the markets, which drove the Deutsche Börse business with risk hedging, rising interest rates and brisk trading on the gas market. Deutsche Börse exceeded expectations for both values.
The stock exchange operator’s shares rose by up to 2.66 percent to EUR 165.80 in the first few minutes of trading. The paper was one of the Dax favorites in early trading on Wednesday. With the price increase, the price is again approaching the record high of around 170 euros from summer 2020. The Deutsche Börse share has been one of the biggest winners among German shares in the year to date due to the prospect of good business in uncertain times. The price has increased by almost 13 percent since the end of 2021.
In the second quarter, net revenue rose 15 percent to 1.02 billion euros – with most of the growth coming from structural changes such as new customers in the area of so-called ESG products and higher demand for offerings around data. Cyclical effects such as higher volume in hedging, gas products and interest income in banking accounted for six percentage points.
Earnings before interest, taxes, depreciation and amortization (Ebitda) climbed 13 percent to 585 million euros. The bottom line was a profit of around 341 million euros, ten percent more than a year ago. “Inflation, interest rates, volatility – the environment on the financial markets is still characterized by a high level of uncertainty. For this reason, too, the second quarter was well above our expectations,” said Chief Financial Officer Gregor Pottmeyer.
“In addition to strong structural growth, the rising interest rate environment in particular is having an increasingly positive effect on our net revenue,” he said. “We assume that volatility will remain high in most asset classes and that the cyclical tailwind will therefore be an additional growth engine for our companies. We should therefore significantly exceed the original targets for 2022.”/zb/bek/mis
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