Deutsche Börse AG releases Q1/2009 results |
11. May 2009
Deutsche Börse saw considerable restraint in market participants' trading activities in the first quarter of 2009 as expected. Correspondingly, sales revenue fell by 16 percent to EUR539.8 million (Q1/2008: EUR644.5 million). In addition, net interest income from banking business fell by 50 percent to EUR31.9 million (Q1/2008: EUR64.3 million) given the historically low short-term interest rates. Nonetheless, Deutsche Börse generated a solid operating result of EUR311.6 million (EBITA) in the first quarter 2009. In comparison with the best quarter in the company's history (Q1/2008: EUR425.8 million), this is a decline of 27 percent. The exchange organization's strict cost discipline was in particular contributing to the operating result. The Group reduced costs by 6 percent to EUR297.6 million in the first quarter, even though it increased investments in future growth.
At EUR-21.0 million, the net financial result was below that of the prior-year period (Q1/2008: EUR13.6 million), due to the positive effect of an unrealized currency gain of around EUR25 million in the first quarter 2008. Net income for the period amounted to EUR205.9 million in the first quarter of 2009 (Q1/2008: EUR304.2 million), a decline of 32 percent. The net income for the period reflects a significant reduction in the Group's effective tax rate to 27.0 percent, which was partly due to the relocation of staff to Eschborn. Based on the weighted average number of 186.1 million shares outstanding in the first quarter 2009, earnings per share decreased by 30 percent to EUR1.11 (Q1/2008: EUR1.58 based on 192.1 million shares). End of Ad-hoc News
ISIN DE0005810055 |
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