Deutsche Boerse Ag · XETR:DB1
Deutsche Boerse — Deutsche Börse — Q1 2022 Earnings Presentation
17 slides from Deutsche Boerse's earnings presentation, Apr 26, 2022
Slide 1: Q1/2022 Financial results Analyst and Investor Conference Call
Q1/2022 Financial results Analyst and Investor Conference Call 26 April 2022
Slide 2: Secular growth and M&A complemented by strong cyclical tailwinds
Secular growth and M&A complemented by strong cyclical tailwinds Secular M&A Cyclical Operating cost growth contribution tailwinds development +8% secular net +5% net revenue +11% cyclical net +7% organic operating Q1/2022 revenue growth growth from M&A revenue growth cost increase Net revenue €1,06
Slide 3: Group financials
Detailed income statement Group financials Q1/2022 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +24% +32% +33% +19% (organic) +30% (organic) +30% (organic) Net interest €60m income +74% €407m 1,062 2.40 Operating cost +17% +7% (organic) 855 1.81 Financial investments2 €33m 687 Depreci
Slide 4: Net revenue by segment
Net revenue by segment Q1/2022 │ €m D a t a & An a l y t i c s Tr a d i n g & C l e a r i n g Fund Services Securities Services +72% +21% +12% +18% +16% (organic) +20% (organic) +19% (organic) 556 461 268 227 145 85 83 93 Q1/21 Q1/22 Q1/21 Q1/22 Q1/21 Q1/22 Q1/21 Q1/22 Deutsche Börse G
Slide 5: Data & Analytics
Detailed income statement Data & Analytics Q1/2022 Net revenue | €m EBITDA | €m Business development +72% +43% +16% (organic) +14% (organic) ▪ Segment performance mainly driven by outperformance of ISS (ESG and Other) with ~19% organic and 145 constant currency net revenue growth. Other1 │ +
Slide 6: Trading & Clearing
Detailed income statement Trading & Clearing Q1/2022 Net revenue | €m EBITDA | €m Business development +21% +34% +20% (organic) +34% (organic) ▪ The Trading & Clearing segment benefitted from higher volatility and increased client hedging needs. 556 31 Foreign exchange │ +18% ▪ Financial der
Slide 7: Fund Services
Detailed income statement Fund Services Q1/2022 Net revenue | €m EBITDA | €m Business development +12% +15% ▪ Continued onboarding of new clients and funds more than offset cyclical headwinds from lower index 93 levels. 83 18 Other1 │ +4% ▪ Acquisition of Kneip (end of Q1/22) 17 forms the basis
Slide 8: Securities Services
Detailed income statement Securities Services Q1/2022 Net revenue | €m EBITDA | €m Business development +18% +31% +19% (organic) +32% (organic) ▪ Divestiture of Clearstream’s 50% stake in REGIS-TR to Iberclear resulted in proceeds of ~€50 million 268 and will lead to a decline of net revenue
Slide 9: Outlook
Outlook FY/2022 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +10% CAGR ▪ Compass 2023 mid-term plan Compass 2023 target targets 10% CAGR for net revenue (5% secular + 5% M&A), EBITDA and Cash EPS. 2022 target +10% CAGR +10% CAGR ▪ Due to the stronger than expected >3.8bn Compass 2023 target Compa
Slide 10: Appendix
Appendix Deutsche Börse Group │ 26 April 2022 9
Slide 11: Income statement – group level
Back to group overview Income statement – group level Q1/22 Q1/21 Change €m €m % Sales revenue 1,187.6 1,023.8 16 Treasury result from banking business 60.3 34.6 74 Other operating income 56.2 19.3 191 Total revenue 1,304.1 1,077.7 21 Volume-related costs –242.5 –222.6 9 Net revenue 1,061.6 855.1 24
Slide 12: Detailed income statement – Data & Analytics
Back to segmental overview Detailed income statement – Data & Analytics Income statement ‒ Data & Analytics Volumes Revenue per volume Q1/22 Q1/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 145.0 84.5 72 AuM (€bn) 113 9 Index 1 49.3 46.0 7 Contracts (m) 253 24 Analytics 16.8 1
Slide 13: Detailed income statement – Trading & Clearing
Back to segmental overview Detailed income statement – Trading & Clearing Income statement ‒ Trading & Clearing Volumes Revenue per volume Q1/22 Q1/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 556.2 461.1 21 Financial derivatives 315.0 262.0 20 Equities 1 148.5 118.7 25 Contr
Slide 14: Detailed income statement – Fund Services
Back to segmental overview Detailed income statement – Fund Services Income statement ‒ Fund Services Volumes Revenue per volume Q1/22 Q1/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 92.5 82.7 12 Fund processing 1 54.0 49.3 10 AuC (€bn) 3,351 11 bps p.a. 0.645 –1 Fund distrib
Slide 15: Detailed income statement – Securities Services
Back to segmental overview Detailed income statement – Securities Services Income statement ‒ Securities Services Volumes Revenue per volume Q1/22 Q1/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 267.9 226.8 18 Custody 1 139.8 126.0 11 AuC (€bn) 13,344 6 bps p.a. 0.419 4 Settl
Slide 16: Financial calendar and contact details
Financial calendar and contact details Financial calendar 12 May 2022 Redburn Canada Conference (Toronto) 18 May 2022 Annual General Meeting Deutsche Börse AG 19 May 2022 Citi DivFins 'Meet The C Suite’ (London/ virtual) Investor Relations 19 May 2022 UBS Best of Europe One-on-One Conference (virtua
Slide 17: Disclaimer
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 and unknown risks