Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse Group — FY2013 Earnings Presentation

22 slides from Deutsche Boerse's earnings presentation, Feb 20, 2014

  1. Slide 1: Q4 and FY/2013 Preliminary Results

    Q4 and FY/2013 Preliminary Results Analyst and Investor Conference Call 20 February 2014

  2. Slide 2: Highlights Q4 And FY/2013 Preliminary Results Presentation

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 1 Highlights Q4 And FY/2013 Preliminary Results Presentation  Despite cyclical headwinds across the business in 2013, the Group’s net revenue remained broadly stable at €1.9 billion  Adjusted EBIT amounted to €954 million, do

  3. Slide 3: FY/2013 – Development Of Group And Segmental Financials

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 2 FY/2013 – Development Of Group And Segmental Financials Group Segments Net revenue Eurex Xetra Clearstream MD+S €1,912.3 million (-1%) Net rev. Net rev. Net rev. Net rev. +1% Net interest income -3% +5% -1% €35.9 million (-31

  4. Slide 4: Q4/2013 – Sequential Improvement Of Net Revenue

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 3 Q4/2013 – Sequential Improvement Of Net Revenue Net revenue and EBIT €m Net revenue EBIT1 Revenue  Net revenue: €473.0m (6% y-o-y)  Net interest income: €8.4m (0% y-o-y) 484 497 458 473 448 Costs  Operating costs1: €267.9m

  5. Slide 5: Eurex

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 4 Eurex Business activity Q4/2013 y-o-y Net revenue Traded contracts in m €m US Options 166.2 9% 197 202 26 26 170 169 172 Equity 73.5 -5% 20 23 26 22 25 Others 23 10 12 21 22 US Options 10 8 10 Equity Fixed income 106.3 2% 52

  6. Slide 6: Xetra

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 5 Xetra Business activity Q4/2013 y-o-y Net revenue Order book volume in €bn1 €m 40 +10% 38 38 251 37 227 6 9 31 8 9 Others 6 8 8 6 CCP 7 6 22 24 23 24 Trading 19 Q4/12 Q4/13 Q4/12 Q1/13 Q2/13 Q3/13 Q4/13 1) Electronic Xetra tr

  7. Slide 7: Clearstream

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 6 Clearstream Business activity Q4/2013 y-o-y Net revenue €m Assets under 170 €11.9tr 6% 166 custody 159 160 155 27 30 Others 28 25 Settlement 27 30.1m 9% 11 8 NII transactions 8 8 8 14 15 15 GSF 13 13 GSF 27 28 28 Settlement €

  8. Slide 8: Market Data + Services

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 7 Market Data + Services Composition of new segment Net revenue Trading signals €m  Distribution of licenses for derivatives and cash real- time trading and market signals 91 92 92 94 89 5 Others Indices 5 5 6 5 14 Technology

  9. Slide 9: Overview Management Priorities

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 8 Overview Management Priorities 1 Extend products and services to unregulated/ unsecured markets  Expand Eurex’s clearing/ risk management capabilities  Global roll-out of collateral and liquidity management services Growth

  10. Slide 10: Growth – EurexOTC Clear Service Offering Addresses Client Needs In New Regulatory Environment

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 9 Growth – EurexOTC Clear Service Offering Addresses Client Needs In New Regulatory Environment Value proposition Description 1 Only fully integrated cross-asset class clearing house in Integrated full asset Europe: market lead

  11. Slide 11: Growth – Expansion Of Successful Collateral Management Services Under Global Liquidity Hub Initiatives

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 10 Growth – Expansion Of Successful Collateral Management Services Under Global Liquidity Hub Initiatives Global infrastructure provider Value proposition: Brazil (live) Australia (2013) Exposure Global Liquidity Hub Liquidity

  12. Slide 12: Growth – Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 11 Growth – Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business 2007 2013 Achievements 2013 Sales revenue <€50 million >€100 million  Cooperation with TAIFEX in derivatives strengthene

  13. Slide 13: Growth – Substantial Incremental Revenue From Structural And Cyclical Drivers Expected

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 12 Growth – Substantial Incremental Revenue From Structural And Cyclical Drivers Expected Illustration of mid- to long-term net revenue opportunities €m Product Structural opportunities Cyclical opportunities innovation ~2,300-

  14. Slide 14: Cost Management – Effective Cost Management Over The Years Created Flexibility To Increase Investments In Growth

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 13 Cost Management – Effective Cost Management Over The Years Created Flexibility To Increase Investments In Growth Track record for effective cost management Cost growth of key exchange organizations Operating costs1, €m CAGR

  15. Slide 15: Cost Management – Details On 2014 Operating Cost Guidance

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 14 Cost Management – Details On 2014 Operating Cost Guidance Transition from 2013 operating costs to 2014 guidance Operating costs1, €m Cost guidance 2014  For 2014 Deutsche Börse plans with operating costs ~20 ~1,050 of aroun

  16. Slide 16: Capital Management – Refinancing Of Long Term Debt Resulted In Significant Decrease Of Debt Financing Expenses

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 15 Capital Management – Refinancing Of Long Term Debt Resulted In Significant Decrease Of Debt Financing Expenses Overview refinancing Debt financing costs (part of financial expenses) €m First tranche (Oct 2012) -29  Terms of

  17. Slide 17: Capital Management – Strong Cash Flow Generation Allows For Strong Rating Profile And Attractive Distribution Policy

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 16 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

  18. Slide 18: Appendix

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 17 Appendix

  19. Slide 19: Financial Calendar And Contact Details

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 18 Financial Calendar And Contact Details Financial calendar Contact details 28 Apr 2014 Interim report Q1/2014 Deutsche Börse AG 29 Apr 2014 Conference call Q1/2014 Investor Relations 15 May 2014 Annual General Meeting Mergent

  20. Slide 20: Income Statement – Group Level Reported

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 19 Income Statement – Group Level Reported Quarter ended Quarter ended FY/2013 FY/2012 31 December 2013 31 December 2012 Sales revenue 536.5 507.2 2,160.3 2,145.3 Net interest income from banking business 8.4 8.4 35.9 52.0 Othe

  21. Slide 21: Income Statement – Segmental Level Reported

    Q4 and FY/2013 Preliminary Results 20 February 2014 Deutsche Börse Group 20 Income Statement – Segmental Level Reported Eurex Xetra Clearstream Market Data + Services Q4/2013 Q4/2012 Q4/2013 Q4/2012 Q4/2013 Q4/2012 Q4/2013 Q4/2012 Sales revenue1 201.0 194.7 44.1 35.3 199.4 185.0 102.0 99.7 Net inter

  22. Slide 22: Disclaimer

    Q4 and FY/2013 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

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