Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse — Q2 2018 Earnings Presentation

20 slides from Deutsche Boerse's earnings presentation, Jul 26, 2018

  1. Slide 1: Q2/2018 Results Analyst and Investor Conference Call

    Q2/2018 Results Analyst and Investor Conference Call 26 July 2018

  2. Slide 2: Highlights Q2/2018 results

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 1 Highlights Q2/2018 results  Net revenue in Q2/2018 increased to €687 million (+10%), adjusted operating costs stood at €263 million (+7%), adjusted EBITDA amounted to €426 million (+12%), and adjusted net profit increased to €262 million (+13%). 

  3. Slide 3: Q2/2018 – Group financials

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 2 Q2/2018 – Group financials Revenue, costs and earnings development €m Operating Net revenue EBITDA1 Net profit1,2 costs1 Revenue +10%  Net revenue: €687.0m (+10% y-o-y)  Net interest income: €55.0m (+64% y-o-y) 687 624 Operating Costs +12%  Oper

  4. Slide 4: Eurex (financial derivatives)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 3 Eurex (financial derivatives) Net revenue Business activity EBITDA4 EBITDA4 €m €m +13% 240 OTC clearing (€tr) Other1 213 30 OTC clearing2 Notional +19% 6 6.3 +354% 28 15 Margin fees3 outstanding (avg) 10 2 12 Equity Notional cleared 3.8 +909% 169 1

  5. Slide 5: EEX (commodities)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 4 EEX (commodities) Net revenue Business activity EBITDA3 €m €m +18% 61 52 17 Other1 16 8 Gas Volume (TWh) 434 0% 7 +26% Power 27 19 Volume (TWh) 1.024 +31% derivatives2 22 14 15 17 Power spot Volume (TWh) 147 +8% Q2/17 Q2/18 Q2/17 Q2/18 1) Including

  6. Slide 6: 360T (foreign exchange)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 5 360T (foreign exchange) Net revenue Business activity EBITDA2 €m €m +13% 19 16 3 Other1 3 +15% Average daily 8 16 Trading volumes (€bn) 67 +6% 7 14 Q2/17 Q2/18 Q2/17 Q2/18 1) Including net revenue from connectivity and member fees 2) Adjusted for e

  7. Slide 7: Xetra (cash equities)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 6 Xetra (cash equities) Net revenue Business activity EBITDA3 €m €m +4% 56 54 13 Other1 14 4 Listing -1% 3 33 32 Order book volume (€bn)2 Trading and Equities 384 +18% 36 38 clearing ETF, ETC, ETN 42 +6% Q2/17 Q2/18 Q2/17 Q2/18 1) Including net reven

  8. Slide 8: Clearstream (post-trading)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 7 Clearstream (post-trading) Net revenue Business activity EBITDA2 €m €m +10% 181 164 17 Other1 19 10 Third party Cash balances (€bn) 13.3 -5% services 5 thereof US$ 7.3 -4% +10% 40 NII 26 Settlement 109 18 18 Settlement transactions 12 +8% 100 ICSD

  9. Slide 9: IFS (investment fund services)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 8 IFS (investment fund services) Net revenue Business activity EBITDA2 €m €m +17% 38 32 9 Other1 7 Settlement 12 Settlement 6 +7% transactions (m) 10 +28% 16 13 Assets under 15 17 Custody custody (€tr) 2.4 +8% Q2/17 Q2/18 Q2/17 Q2/18 1) Including net

  10. Slide 10: GSF (collateral management)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 9 GSF (collateral management) Net revenue Business activity EBITDA1 €m €m +7% 21 20 Securities Outstandings 57 -9% 10 (€bn) 9 lending -1% 11 11 Outstandings 10 11 Repo 386 -2% (€bn) Q2/17 Q2/18 Q2/17 Q2/18 1) Adjusted for exceptional items

  11. Slide 11: STOXX (index business)

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 10 STOXX (index business) Net revenue Business activity EBITDA1 €m €m -1% 35 35 -7% 16 Other 26 17 24 licences Traded contracts 212 -3% (m) 8 Exchange 7 licences ETF AuM (€bn) STOXX 85 +12% 11 11 ETF DAX 28 -2% Q2/17 Q2/18 Q2/17 Q2/18 1) Adjusted for

  12. Slide 12: Data

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 11 Data Net revenue Business activity EBITDA2 €m €m -1% 38 38 9 9 Other1 +4% Regulatory 27 28 3 3 services 27 Cash and Subscriptions (k) 382 -13% 26 derivatives Q2/17 Q2/18 Q2/17 Q2/18 1) Including net revenue from internal and external cooperation a

  13. Slide 13: H1/2018 – Group financials

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 12 H1/2018 – Group financials Net revenue Operating costs1 EBITDA1 Net profit1,2 €m €m €m €m +11% 1,379 1,247 +14% 864 760 +5% +15% 491 517 533 465 H1/17 H1/18 H1/17 H1/18 H1/17 H1/18 H1/17 H1/18 1) Adjusted for exceptional items 2) Attributable to D

  14. Slide 14: H1/2018 – Acceleration of secular growth and improvement in cyclical environment

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 13 H1/2018 – Acceleration of secular growth and improvement in cyclical environment drove double-digit net revenue growth Net revenue growth drivers in H1/2018 €m +1% +4%  Acceleration of secular net 1,379 revenue growth in H1/2018 +7% 6 45 with ~7%

  15. Slide 15: H1/2018 – Efficient cost management ensured scalability of the business model

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 14 H1/2018 – Efficient cost management ensured scalability of the business model Operating cost growth drivers in H1/20181 €m 517 3  Through proactively managed cost base 4 scalability of business model ensured. 10 +5%  In total, operating costs in

  16. Slide 16: Financial calendar and contact details

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 15 Financial calendar and contact details Financial calendar Contact details 12 Sep 2018 Barclays (New York) Deutsche Börse AG 24 Sep 2018 Berenberg/ Goldman Sachs (Munich) Investor Relations Mergenthalerallee 61 26 Sep 2018 Bank of America Merrill L

  17. Slide 17: Income statement – Group level adjusted

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 16 Income statement – Group level adjusted Quarter ended Quarter ended 30 June 2018 30 June 2017 Sales revenue 719.5 665.8 55.0 33.5 Net interest income from banking business 3.3 6.7 Other operating income 777.8 706.0 Total revenue -90.8 -82.4 Volume

  18. Slide 18: Income statement – Segmental level I/II

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 17 Income statement – Segmental level I/II Eurex EEX 360T Xetra (financial derivatives) (commodities) (foreign exchange) (cash equities) Q2/2018 Q2/2017 Q2/2018 Q2/2017 Q2/2018 Q2/2017 Q2/2018 Q2/2017 Net revenue 239.6 212.7 61.1 51.7 18.5 16.3 55.5

  19. Slide 19: Income statement – Segmental level II/II

    Q2/2018 Results 26 July 2018 Deutsche Börse Group 18 Income statement – Segmental level II/II Clearstream IFS (investment fund GSF (collateral STOXX (index) Data (post-trading) services) management) Q2/2018 Q2/2017 Q2/2018 Q2/2017 Q2/2018 Q2/2017 Q2/2018 Q2/2017 Q2/2018 Q2/2017 Net revenue 180.9 164

  20. Slide 20: Disclaimer

    Q2/2018 Results Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known an

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