Deutsche Börse AG (DR1); reports 11% growth in Q219 adjusted EPS

Published on 25-07-2019 10:45:00
Author Sparks Team

Deutsche Börse published its Q219 results yesterday. The company’s net revenues increased by 6% year-on-year to €724.8m, with structural growth of around 5%, in line with Deutsche Börse’s full-year guidance of at least 5%. When adjusted for non-recurring costs of €31.5m (Q218: €54.3m), largely related to efficiency measures as well as business combinations and acquisitions, EBITDA reached €465.5m, up by 9% year-on-year. Consequently, adjusted EPS stood at €1.58, up by 11% year-on-year.

The company highlights that its net revenue growth was supported by higher net interest income attributed to higher interest rates in the US and increased customer cash balances. All segments with the exception of GSF (collateral management) and the Xetra (cash equities) posted a revenue increase. Net financial result improved to -€11.6m (Q218: -€16.6m) due to reversal of provisions, assisting EPS growth in the process.

Gregor Pottmeyer (Deutsche Börse CFO) said: “In the first half of the year we were able to increase structural net revenue by 5%, as planned. In addition, net profit rose stronger than net revenue: the 9 per cent growth rate is therefore also in line with the guidance for the full year. Hence, we are confident that we will achieve our goals for 2019.“

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