Deutsche Börse achieves strong profit growth in the quarter

Deutsche Börse AG

The group listed in the DAX confirmed its goals for the year as a whole.

(Photo: dpa)

Paying-off acquisitions pushed the results of Deutsche Börse in the third quarter. In the three-month period up to the end of September, consolidated net income rose by 32 percent to EUR 300.3 million within a year, as the stock exchange operator announced on Tuesday evening.

The company thus exceeded analysts’ expectations. Net sales increased by 18 percent to 837.9 million euros.

“Together with our efficient cost control, we are fully on the planned growth path,” explained CFO Gregor Pottmeyer. The cyclical tailwind continued to fail. According to the German stock exchange, mergers and acquisitions also contributed to the double-digit growth in sales.

Annual target reaffirmed

The Dax-listed group reaffirmed its goals for the full year: Accordingly, net sales should increase to around 3.5 billion euros and the operating result (Ebitda) to around two billion euros.

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In the past quarter, the exchange operator benefited from the fact that an unexpected rise in electricity and gas prices caused volatility in the relevant markets. This has led to a higher trading volume in electricity and gas products, the company said.

The custody and settlement business as well as the fund distribution business also developed very positively. Net sales in the financial derivatives division Eurex in the past quarter were slightly above the level a year earlier. In contrast, they were slightly lower in Xetra securities trading.

More: Farewell to the sheet of paper – Deutsche Börse is digitizing the securities business

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