Deutsche Boerse Posts Higher Earnings on Deriviatives Trading

   By Ulrike Dauer 
 

FRANKFURT--Deutsche Boerse AG (DB1.XE) on Wednesday reported higher earnings and revenues due to enhanced derivatives trading around the Brexit referendum in the U.K.

While slightly higher costs capped the reduced profit gains, the German exchange operator said it was on track to meet full-year targets, one day after a majority of shareholders approved the merger plans with London Stock Exchange.

Quarterly net profit rose 9% to EUR183.5 million ($201.6 million) from EUR168.2 million in the second quarter of 2015, beating the EUR182 million forecast in a Dow Jones Newswires poll.

Earnings before interest or taxes, or EBIT, widely considered a better gauge of operating performance, climbed 8.2% to EUR279.0 million from EUR257.8 million.

Simultaneously, costs were up 11% to EUR316.3 million from EUR285.2 million. Revenue increased 9.8% to EUR600.7 million, below the forecast EUR605 million.

In the quarter, Deutsche Boerse posted a one-time gain of around EUR565 million after taxes from selling its U.S. operations International Securities Exchange to Nasdaq, Inc. for $1.1 billion in cash. It said however, that the disposal gain wasn't included in the reported earnings.

The deal was announced in March, one month after Deutsche Boerse announced plans to merge with LSE.

(END) Dow Jones Newswires

July 27, 2016 13:38 ET (17:38 GMT)

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