Deutsche Boerse Ag · XETR:DB1
Deutsche Boerse — Deutsche Börse Group — FY2009 Earnings Presentation
15 slides from Deutsche Boerse's earnings presentation, Feb 17, 2010
Slide 1: Q4 and FY/2009 Results Analyst and Investor Conference
Q4 and FY/2009 Results Analyst and Investor Conference 17 February 2010
Slide 2: 2009 Result Impacted By Challenging Business Environment And Exceptional Items
Deutsche Börse Group, 17 February 2010 Deutsche Börse Group’s 2009 Result Impacted By Challenging Business Environment And Exceptional Items n 2009 was characterized by the most challenging business environment in the history of Deutsche Börse; cash and derivatives trading suffered most due to the r
Slide 3: Well Positioned In The Global Exchange Sector
Deutsche Börse Group, 17 February 2010 Deutsche Börse Group Continues To Be Well Positioned In The Global Exchange Sector Sales revenue and EBIT 2009 (€m)1 Market capitalization (€bn)7 Deutsche Börse 2 1,053 2,159 8.7 CME 1,146 1,854 14.2 NYSE Euronext 3 570 1,759 4.8 Nasdaq OMX 4 428 1,031 2.8 ICE
Slide 4: New Exchange Organizations Emerged In The Market Capitalization Ranking
Deutsche Börse Group, 17 February 2010 Over The Last Five Years New Exchange Organizations Have Emerged In The Market Capitalization Ranking Market capitalization 31 Dec 2004 (€bn)1 Market capitalization 12 Feb 2010 (€bn)1 CME 5.7 CME 14.2 Deutsche Hong Kong 13.2 5.0 Börse BM&F Bovespa 9.5 Euronext
Slide 5: Leaner Management Structure And Cost Initiatives Deliver €50 Million Savings
Deutsche Börse Group, 17 February 2010 Leaner Management Structure And Cost Initiatives Are Expected To Deliver Full Run Rate Cost Savings Of €50 Million Per Annum n As a result of the financial crisis n The company has decided to structural changes in financial implement a leaner markets and new cu
Slide 6: Continued Focus On Growth Initiatives And Operating Efficiency
Deutsche Börse Group, 17 February 2010 Continued Focus On Growth Initiatives And Operating Efficiency While Maintaining Strong Financial Position n Deutsche Börse plans to increase the annual expenses for growth initiatives and advancements of technology by more than 50% to around €100 million in 20
Slide 7: FY/2009 – Continued Strong Cash Generation Despite Difficult Trading Environment
Deutsche Börse Group, 17 February 2010 FY/2009 – Continued Strong Cash Generation Despite Difficult Trading Environment in 2009 Sales Net interest Earnings per Cash flow Costs EBIT Net income revenue income share1 per share2 −16% −59% +31% / −2%3 −58% / −30%3 −52% / −32%3 −51% / −30%3 −36% 2,455.1 6
Slide 8: Q4/2009 – Stable Development Compared To Q3/2009 Adjusted For ISE Impairment
Deutsche Börse Group, 17 February 2010 Q4/2009 – Stable Development Compared To Q3/2009 Adjusted For ISE Impairment Sales revenue and EBIT (€m) Revenue n Sales revenue: €505.4m (−17% vs. Q4/08) 609.0 n Net interest income: €17.7m (−69% vs. Q4/08) n Gain of €67m from termination of financial loss lia
Slide 9: Xetra – Small Revenue Decline Against Q3/2009
Deutsche Börse Group, 17 February 2010 Xetra – Small Revenue Decline Against Q3/2009 Business activity Cash market sales revenue (€m) Change vs. 92.6 4.6 Q4/09 Q3/09 Q4/08 17.1 Xetra – electronic trading 63.9 63.1 63.1 10.4 60.9 Trades 38.9m −7% −39% 5.7 6.1 8.1 4.7 18.7 12.7 10.9 11.5 11.2 Order Bo
Slide 10: Eurex – Stable Revenue Development Against Q3/2009
Deutsche Börse Group, 17 February 2010 Eurex – Stable Revenue Development Against Q3/2009 Business activity (traded contracts in million) Eurex sales revenue (€m) Change vs. Q4/09 Q3/09 Q4/08 247.9 31.7 221.1 Fixed Income 121.7 +5% +3% 201.0 26.3 191.5 190.4 43.6 25.2 23.1 25.1 11.3 45.9 Index 185.9
Slide 11: Clearstream – Resilient Business Development, Further Decline Of Net Interest Income
Deutsche Börse Group, 17 February 2010 Clearstream – Resilient Business Development, But Further Decline Of Net Interest Income Due To Historically Low Interest Rates Business activity Clearstream revenue (€m) Change vs. 257.2 Q4/09 Q3/09 Q4/08 57.6 214.2 Assets under custody €10.7tr +2% +2% 207.0 1
Slide 12: Operating Efficiency – 2010 Cost Guidance Of Maximum €1,250 Million
Deutsche Börse Group, 17 February 2010 Operating Efficiency – 2010 Cost Guidance For A Maximum Of €1,250 Million Excluding Provisions For 2011 Cost Savings Transition from 2009 costs to 2010 cost guidance (€m) 1,680 Cost guidance 2010 n For 2010 Deutsche Börse plans with a maximum of €1,250m costs,
Slide 13: Capital Management – Maintaining A Strong Credit And Rating Profile
Deutsche Börse Group, 17 February 2010 Capital Management – Deutsche Börse Group Is Focused On Maintaining A Strong Credit And Rating Profile Capital Management Policy Target credit metrics n Continuing past practice, Deutsche Börse AG Interest coverage (Group level) 16x distributes funds not requir
Slide 14: Capital Management – Executive Board Proposed A Flat Dividend Of €2.10 For 2009
Deutsche Börse Group, 17 February 2010 Capital Management – The Executive Board Of Deutsche Börse Has Proposed A Flat Dividend Of €2.10 For 2009 Dividend payout ratio and dividend n Executive Board has proposed a dividend of €2.10 per Dividend payout ratio share for 2009 (2008: €2.10), a payout rati
Slide 15: Disclaimer
Deutsche Börse Group, 17 February 2010 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 a