Fluctuating prices, interest rate hikes by the central banks and capers on the energy market: the stock exchange operator Deutsche Börse is currently making good money. For the year as a whole, the DAX group is raising expectations again.
Interest rate hikes by several central banks and trading in stock exchange operator Deutsche Börse gave a boost to profits in the summer. The DAX group announced that the surplus attributable to shareholders rose to EUR 373 million in the third quarter. That was an increase of 24 percent compared to the previous year and thus more than expected by analysts. The operating result climbed from 500 million to 642 million euros.
The interest rate turnaround by the US Federal Reserve gave Deutsche Börse a growth of 546 percent in net interest income in banking business to 73.6 million euros. The strongly fluctuating market for gas and electricity products also boosted the business with commodities and financial derivatives. Net revenue in the trading and clearing segment, which also includes the EEX power exchange in Leipzig, rose by almost a third percent to EUR 553.6 million. Total net sales between June and the end of September increased by 30 percent to just under 1.1 billion euros.
But the lucrative business areas also harbor risks: According to the financial report, many of the gas and electricity contracts processed by the electricity exchange’s clearing house have seen “considerable increases in price and volatility”. Should the trading volume at the clearing house European Commodity Clearing AG fall below plan in the future, this represents a business risk.
Due to developments on the financial markets, Deutsche Börse once again raised its forecasts for the current year: The stock exchange operator now expects net revenue to rise to more than EUR 4.1 billion. Earnings before interest, taxes, depreciation and amortization (Ebitda) are expected to increase to more than 2.3 billion euros. So far, the group has been aiming for an increase in net sales to well over EUR 3.8 billion and an EBITDA of well over EUR 2.2 billion.
