After good quarterly figures, the company is targeting the upper end of the posted profit margin.
(Photo: Reuters)
Frankfurt The price turbulence of the past few months has resulted in surprisingly strong results for Deutsche Börse in the first quarter of 2023 and more optimism for the year as a whole. The company announced on Wednesday that net profit and operating profit rose by twelve percent to 473 and 772 million euros respectively. Analysts had only expected an increase of almost ten percent in net profit. Sales growth of 16 percent to 1.2 billion euros was also higher than expected.
“In the first quarter of 2023, trading volumes developed very strongly,” said CFO Gregor Pottmeyer. But Deutsche Börse is also growing structurally. He expects that Deutsche Börse will be “at the upper end of our forecast for the current financial year” – or “even slightly above it”. The company plans for the full year 2023 with net sales of 4.5 to 4.7 billion euros. Operating profit is expected to be between 2.6 and 2.8 billion euros.