Deutsche Börse Group achieved solid earnings growth in Q1/2017

Release date: Apr 26, 2017

Net revenue increased by 2 per cent to €623 million / Stable operating costs due to efficiency gains / Consolidated net profit up by 5 per cent / Basic earnings per share at €1.24 / Company is very well positioned to benefit from structural and cyclical growth / Earnings guidance of 10 to 15 per cent for 2017 and 2018 affirmed / Executive Board plans implementation of €200 million share buyback programme

Deutsche Börse AG published its results for the first quarter of 2017 on Wednesday. Net revenue stood at €623.4 million, an increase of 2 per cent year-on-year (Q1/2016: €610.5 million). The increase was largely driven by the very positive developments in the Clearstream segment as well as the growth in fixed income derivatives at Eurex. These trends more than compensated for a subdued performance in the equity and index derivatives business due to lower equity market volatility. At €280.3 million, adjusted operating costs were stable compared to the previous year (Q1/2016: €279.8 million), mainly driven by the continuing improvements in operating efficiency. The adjusted profit for the period attributable to Deutsche Börse AG shareholders (hereinafter referred to as “consolidated net profit”) stood at €232.2 million, rising by 5 per cent year-on-year (Q1/2016: €221.3 million). Basic earnings per share, adjusted for non-recurring effects, amounted to €1.24 (Q1/2016: €1.18). Earnings were adjusted for non-recurring effects of €29.2 million related to operating costs, mainly in connection with mergers, and a gain of €116.6 million resulting from the complete divestiture of the shareholding in BATS Global Markets Inc.

Gregor Pottmeyer, Chief Financial Officer of Deutsche Börse AG, commented: “Thanks to our diversified business model and effective cost management we were able to compensate low equity market volatility in the first quarter and report solid earnings growth. Furthermore, we see Deutsche Börse Group as very well positioned to achieve structural growth and benefit from further improving cyclical conditions in 2017. We therefore affirm our guidance of double-digit earnings growth.”

In addition, Pottmeyer commented: “With the planned €200 million share buyback programme in the second half of 2017, we are pursuing a balanced approach regarding the use of the proceeds from the sale of ISE of around €1 billion. Besides the share buybacks, we are envisaging to primarily use those funds for organic as well as value accretive external growth.”

Please find attached our consolidated income statement and segment reporting. For further details, please refer to the quarterly statement for Q1/2017.