Slide 1: Q4 and FY/2014 Preliminary Results
Q4 and FY/2014 Preliminary Results Analyst and Investor Conference Call 19 February 2015
Slide 2: Highlights Q4 And FY/2014 Preliminary Results Presentation
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 1 Highlights Q4 And FY/2014 Preliminary Results Presentation Derivatives and cash activities benefitted significantly from higher equity market volatility towards the end of 2014; Clearstream and Market Data + Services contin
Slide 3: FY/2014 – Development Of Deutsche Börse Group Financials
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 2 FY/2014 – Development Of Deutsche Börse Group Financials (Group level) Net revenue (€m) EBIT adjusted1) (€m) EPS adjusted1) (€) +7% +5% 2,043 3.63 1,912 3.46 +3% 954 983 2013 2014 2013 2014 2013 2014 1) Adjusted for exception
Slide 4: FY/2014 – Growth Areas Continued To Build Traction In 2014
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 3 FY/2014 – Growth Areas Continued To Build Traction In 2014 Eurex – Kospi, volatility, dividend, OAT, BTP Eurex – EEX power and gas m1 81.1 TWh2 2,138 BTP & OAT 39% Gas 1,487 568 +44% Dividend 58.3 38.6 Power Volatility 223 23
Slide 5: Q4/2014 – Strongest Quarter In Terms Of Net Revenue Since 2011
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 4 Q4/2014 – Strongest Quarter In Terms Of Net Revenue Since 2011 Net revenue, EBIT and EPS development €m Revenue Net revenue EBIT adjusted1 EPS adjusted (€)1 Net revenue: €544.5m (+15% y-o-y) Net interest income: €4.4m (-4
Slide 6: Q4/2014 – Eurex
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 5 Q4/2014 – Eurex Business activity Q4/2014 y-o-y Net revenue Financial derivatives (traded contracts in m) €m US Options 155.9 -6% +29% Equity 66.4 -10% 222 207 20 Others2 Fixed income 109.2 3% 18 191 7 Repo 183 172 11 19 20 C
Slide 7: Q4/2014 – Xetra
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 6 Q4/2014 – Xetra Business activity Q4/2014 y-o-y Net revenue Order book volume in €bn1 €m +14% 44 43 +27% 354 38 7 37 38 9 Others2 278 9 8 8 8 8 CCP 6 7 7 28 27 Trading 24 23 23 Q4/13 Q4/14 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 1) Xet
Slide 8: Q4/2014 – Clearstream
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 7 Q4/2014 – Clearstream Business activity Q4/2014 y-o-y Net revenue €m +6% Assets under 175 180 €12.4tr 4% 170 170 173 custody 29 32 Others2 30 29 30 Settlement 4 NII 33.2m 10% 8 10 10 transactions 8 17 GSF 15 16 16 16 GSF 29 3
Slide 9: Q4/2014 – Market Data + Services
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 8 Q4/2014 – Market Data + Services Business activity Q4/2014 y-o-y Net revenue Information €m Derivatives/ cash market data, indicators, news +6%1 99 Data subscriptions 412,827 3% 94 94 95 93 7 Market 8 9 11 6 Solutions Index
Slide 10: FY/2015 – Business Activity In January Above Strong Q4/14 Levels
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 9 FY/2015 – Business Activity In January Above Strong Q4/14 Levels Eurex – European products Eurex – Index derivatives 7% +8% 6.0 6.0 6.2 6.7 3.4 3.6 5.4 5.2 2.8 2.5 2.4 2.3 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/151 Q4/13 Q1/14 Q2/1
Slide 11: Management Is Firmly Focused On Growing The Business, Effective Cost Management, And Attractive Capital Management
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 10 Management Is Firmly Focused On Growing The Business, Effective Cost Management, And Attractive Capital Management Ambitious growth targets 20-40 per cent net revenue growth target 2013-2017 Primarily organic growth, but
Slide 12: Growth – EurexOTC Clear Service Offering Addresses Client Needs In New Regulatory Environment
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 11 Growth – EurexOTC Clear Service Offering Addresses Client Needs In New Regulatory Environment Value proposition Description Unique position to be 1 Only fully integrated cross-asset class clearing house in successful in OTC
Slide 13: Growth – Expansion Of Successful Collateral Management Services Under Global Liquidity Hub Initiatives
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 12 Growth – Expansion Of Successful Collateral Management Services Under Global Liquidity Hub Initiatives Global infrastructure provider Value proposition: Brazil (live) Australia (live) Exposure Global Liquidity Hub Liquidity
Slide 14: Growth – TARGET2-Securities, A Unique Opportunity Because Of Expected Shift In Settlement Liquidity To Clearstream
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 13 Growth – TARGET2-Securities, A Unique Opportunity Because Of Expected Shift In Settlement Liquidity To Clearstream Today: 24 CSD + 2 ICSD settlement systems Drivers for settlement consolidation in Clearstream as the leading
Slide 15: Growth – MD+S Strategy Aims At Further Enhancement Of Data And Technology Leadership
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 14 Growth – MD+S Strategy Aims At Further Enhancement Of Data And Technology Leadership Expansion of footprint in data & technology MD+S on track to deliver revenue growth Effective deployment of data and corresponding techno
Slide 16: Growth – Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 15 Growth – Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business 2007 2013 Current initiatives Build-up of clearing house Sales revenue <€50 million >€100 million for derivatives in Si
Slide 17: Financial Guidance – Net Revenue In 2014 On Track To Achieve Mid-Term Growth Target
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 16 Financial Guidance – Net Revenue In 2014 On Track To Achieve Mid-Term Growth Target Financial guidance for 2015 Net revenue on track for mid-term target €m Net revenue +5-10% ~€2.1 to €2.3 billion p.a. ~2,300- +7% 2,700 Op
Slide 18: Financial Guidance – Operating Costs In 2015 Increase Mainly Due To Consolidation And FX Effects
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 17 Financial Guidance – Operating Costs In 2015 Increase Mainly Due To Consolidation And FX Effects Transition from 2014 operating costs to 2015 guidance Operating costs1, €m Cost guidance 2015 ~1,180 For 2015 Deutsche Börse
Slide 19: Capital Management – Strong Cash Flow Generation Allows For Strong Rating Profile And Attractive Distribution Policy
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 18 Capital Management – Strong Cash Flow Generation Allows For Strong Rating Profile And Attractive Distribution Policy Strong cash flow, balance sheet and rating Attractive dividend distribution Pay-out ratio (%)2 Strong balan
Slide 20: Appendix
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 19 Appendix
Slide 21: Income Statement – Group Level Adjusted
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 20 Income Statement – Group Level Adjusted Quarter ended Quarter ended FY/2014 FY/2013 31 December 2014 31 December 2013 Sales revenue 627.0 536.5 2,347.8 2,160.3 Net interest income from banking business 4.4 8.4 32.8 35.9 Othe
Slide 22: Income Statement – Segmental Level Adjusted
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 21 Income Statement – Segmental Level Adjusted Eurex Xetra Clearstream Market Data + Services Q4/2014 Q4/2013 Q4/2014 Q4/2013 Q4/2014 Q4/2013 Q4/2014 Q4/2013 Sales revenue1 266.8 201.0 47.8 44.1 217.3 199.4 108.2 102.0 Net inte
Slide 23: Financial Calendar And Contact Details
Q4 and FY/2014 Preliminary Results 19 February 2015 Deutsche Börse Group 22 Financial Calendar And Contact Details Financial calendar Contact details 29 Apr 2015 Interim report Q1/2015 Deutsche Börse AG 30 Apr 2015 Conference call Q1/2015 Investor Relations 13 May 2015 Annual General Meeting Mergent
Slide 24: Disclaimer
Q4 and FY/2014 Preliminary 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