Slide 1: Q4 and FY/2022 Preliminary financial results
Q4 and FY/2022 Preliminary financial results Analyst and Investor Conference Call 9 February 2023
Slide 2: Strong organic growth performance in 2022 due to secular growth and cyclical tailwinds
Strong organic growth performance in 2022 due to continued secular growth and significant cyclical tailwinds Organic net revenue grow th M&A contribution Operating costs +21% +3% net revenue Combination of different +7% secular +14% cyclical growth from M&A cost drivers FY/2022 Continued strong se
Slide 3: Implementation of the Compass 2023 strategic plan has further improved our position
Implementation of the Compass 2023 strategic plan has further improved our position and potential for sustainable growth 1 Secular growth has become key pillar Consistent secular net revenue growth (6% CAGR since 2019) has become the key pillar of our growth strategy, irrespective of the market envi
Slide 4: Compass 2023 financial targets have been achieved one year earlier than planned
Compass 2023 financial targets have been achieved one year earlier than planned Net revenue | €bn EBITDA | €bn Compass 2023 Guidance: ~10% CAGR Guidance: ~10% CAGR Compass 2023 target was to grow net revenue and EBITDA at 10% CAGR between 2019-23 (5% secular Actual: 14% CAGR Actual: 15% CAGR net r
Slide 5: Group financials FY/2022
Group financials FY/2022 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +24% +24% +23% +21% (organic) +23% (organic) +23% (organic) Net interest €532m income +273% €1,822m 4,338 8.61 Operating cost +17% +10% (organic w/o FX) 3,510 6.98 Financial investments €10m 2,526 Depreciation2 €356
Slide 6: Operating cost development
Operating cost development FY/2022 │ €m M&A FX effect Organic (w/o FX) Note +4% +3% +10% M&A effects (+4%) mainly driven by +17% ISS as well as Discovery Data, Crypto Finance and Kneip. 1,822 40 Stronger US-Dollar resulted in 3% 45 higher operating costs (but was also 75 beneficial to reve
Slide 7: Group financials Q4/2022
Detailed income statement Group financials Q4/2022 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +25% +21% +27% Continued strong net revenue growth: 6% secular + 18% cyclical + 1% M&A. 1,168 Constant currency organic operating costs increased by 15% (inflation, 2.08 compensation, other c
Slide 8: Data & Analytics
Detailed income statement Data & Analytics Q4/2022 │ €m Net revenue EBITDA Business development +21% +12% The Data & Analytics business continued to benefit from the trend towards ESG in the asset 185 management industry and a solid new client pipeline. 32 Other1 │ +32% 152 Most of the US-Do
Slide 9: Trading & Clearing
Detailed income statement Trading & Clearing Q4/2022 │ €m Net revenue EBITDA Business development + 11 % –5% Financial derivatives were driven by interest rate derivatives, OTC clearing and higher margin fees. 540 34 Foreign exchange │ +16% Commodities with strong growth in 485 29 73 Cash eq
Slide 10: Fund Services
Detailed income statement Fund Services Q4/2022 │ €m Net revenue EBITDA Business development +4% –29% Continued onboarding of new clients and funds more than offset cyclical headwinds from markets. 96 92 Consolidation of Kneip (end of 17 20 Other1 │ +19% Q1/22) resulted in both additional ne
Slide 11: Securities Services
Detailed income statement Securities Services Q4/2022 │ €m Net revenue EBITDA Business development +69% +122% Higher level of fixed income issuance activity overcompensating lower equity market valuations. 347 35 Other1 │ +13% Custody benefited from higher collateral management revenues in l
Slide 12: Dividend proposal
Dividend proposal FY/2022 Dividend per share and pay-out | € Capital management policy We aim to distribute 40%-60% of our annual net profit to shareholders in form of the regular dividend. +13% Within this range, the pay-out mainly depends on the business 3.60 development and dividend continuit
Slide 13: Outlook
Outlook FY/2023 Guidance 2023 | €bn Key focus areas for 2023 Net revenue EBITDA We expect secular trends (OTC to on-exchange, passive investing, ESG, outsourcing) to continue to support organic growth. 2023 target: Cyclically, we expect the net interest income to continue to increase, 4.5-4.7 4.
Slide 14: Appendix
Appendix Deutsche Börse Group │ 9 February 2023 13
Slide 15: Income statement – group level
Back to group overview Income statement – group level Q4/22 Q4/21 Change €m €m % Sales revenue 1,193.7 1,125.0 6 Treasury result from banking business 233.8 43.0 444 Other operating income 20.1 10.2 97 Total revenue 1,447.6 1,178.2 23 Volume-related costs –279.6 –243.4 15 Net revenue 1,168.0 934.8 2
Slide 16: Detailed income statement – Data & Analytics
Back to segmental overview Detailed income statement – Data & Analytics Income statement ‒ Data & Analytics Volumes Revenue per volume Q4/22 Q4/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 185.1 152.4 21 AuM (€bn) 98 –16 Index 1 69.3 51.0 36 Contracts (m) 199 8 Analytics 20.2
Slide 17: Detailed income statement – Trading & Clearing
Back to segmental overview Detailed income statement – Trading & Clearing Income statement ‒ Trading & Clearing Volumes Revenue per volume Q4/22 Q4/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 540.2 484.5 11 Financial derivatives 295.8 255.4 16 Equities 1 104.3 112.8 –8 Contr
Slide 18: Detailed income statement – Fund Services
Back to segmental overview Detailed income statement – Fund Services Income statement ‒ Fund Services Volumes Revenue per volume Q4/22 Q4/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 95.9 92.1 4 Fund processing 1 51.8 52.8 –2 AuC (€bn) 3,142 –8 bps p.a. 0.660 7 Fund distribut
Slide 19: Detailed income statement – Securities Services
Back to segmental overview Detailed income statement – Securities Services Income statement ‒ Securities Services Volumes Revenue per volume Q4/22 Q4/21 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 346.8 205.8 69 Custody 1 147.6 134.2 10 AuC (€bn) 13,475 1 bps p.a. 0.438 9 Settl
Slide 20: Financial calendar and contact details
Financial calendar and contact details Financial calendar Deutsche Börse AG Investor Relations 15 Feb. 2023 BofA US Financials Conference (New York) Mergenthalerallee 61 15 Mar. 2023 Morgan Stanley European Financials Conference (London) 65760 Eschborn 28 Mar. 2023 HSBC Annual West Coast Financials