Deutsche Boerse Ag · XETR:DB1
Deutsche Boerse — Deutsche Börse — Q2 2020 Earnings Presentation
21 slides from Deutsche Boerse's earnings presentation, Jul 30, 2020
Slide 1: Q2/2020 Financial results
Q2/2020 Financial results Analyst and Investor Conference Call 30 July 2020 Deutsche Börse Group | 30 July 2020 |
Slide 2: Summary Q2/2020 results presentation
Summary Q2/2020 results presentation Net revenue growth of 7% in Q2 to €778 million mainly driven by continued positive contribution of secular growth initiatives (+7%). 7% Net revenue growth Q2 Organic operating cost development in Q2 (+8%) continued to be mainly driven by higher investments; adjus
Slide 3: Group financials Q2/2020
Group financials Q2/2020 | €m Net revenue Operating cost EBITDA Net profit Note +7% +15% +4% → 0% +5% (organic) + 8% (organic) +4% (organic) +3% (organic) +7% (secular) Net interest €50m €50m income income −24% -24% 778 725 Exceptional Exceptional cost cost €42m items €42m items €62m
Slide 4: Eurex (financial derivatives)
Eurex (financial derivatives) Q2/2020 | €m Net revenue EBITDA Business activity +6% +4% Total 436m m derivatives derivatives −16% +28% 272 255 29 Other1 Index Index 381m 248m 29 derivatives +58% 15 Eurex data derivatives +6% 15 26 Margin fees2 15 192 Fixed income 161m 14 OTC clearing3 185 10 Fix
Slide 5: EEX (commodities)
EEX (commodities) Q2/2020 | €m Net revenue EBITDA Business activity → 0% −3% Power 153 TWh 161 TWh spot spot +5% +2% 71 71 Power Power 1,804 1,660TWh TWh 17 15 Other1 derivatives +26% derivatives +20% 10 Gas 761 TWh 11 Gas 591 TWh +30% −13% 35 34 25 29 Power derivatives 19 17 Power spot Q2/19 Q2/2
Slide 6: 360T (foreign exchange)
360T (foreign exchange) Q2/2020 | €m Net revenue EBITDA Business activity +8% +7% Average daily €81bn €95bn volumes (ADV) volumes (ADV) +25% 0% 24 22 4 Other1 4 10 10 19 Trading 18 Q2/19 Q2/20 Q2/19 Q2/20 Note: EBITDA adjusted for exceptional items. 1) Including net revenue from connectivity and
Slide 7: Xetra (cash equities)
Xetra (cash equities) Q2/2020 | €m Net revenue EBITDA Business activity +19% +25% +18% (organic) +24% (organic) Order volume22 bookvolume Oder book €470bn €551bn Equities Equities +64% +35% 94 11 Other1 Oder Orderbook bookvolume 2 volume2 €78bn €61bn 79 ETF, ETC, ETN +130% ETF, ETC, ETN +73%
Slide 8: Clearstream (post-trading)
Clearstream (post-trading) Q2/2020 | €m Net revenue EBITDA Business activity −1% −5% Assets under €11.8tr €11.8tr custody custody +4% +3% 215 213 21 25 Other1 Settlement 18.3m Settlement 18.5m 6 transactions (ICSD) +37% 6 Third party services transactions (ICSD) +33% 19 20 Collateral management
Slide 9: IFS (investment fund services)
IFS (investment fund services) Q2/2020 | €m Net revenue EBITDA Business activity +17% +21% +12% (organic) +18% (organic) Assets under €2.5tr €2.7tr custody custody +12% +2% 51 Settlement Settlement 10.8m 9.5m 44 transactions +69% 14 Other1 transactions +42% 13 16 Settlement 26 13 21 20 Custo
Slide 10: Qontigo (index and analytics business)
Qontigo (index and analytics business) Q2/2020 | €m Net revenue EBITDA Business activity +38% + 5% + 1% (organic) + 11% (organic) ETF AuM assets under €85bn €67bn STOXX management −11% -7% 53 Traded Exchange licences 354m 235m 14 Analytics contracts +60% traded contracts +8% 39 21 26 28 25 O
Slide 11: Group financials H1/2020
Group financials H1/2020 | €m Net revenue Operating cost EBITDA Net profit Note +17% +16% +17% +16% +14% (organic) + 9% (organic) +17% (organic) +19% (organic) + 7% (secular) Net interest €50m €118m €50m income income −8% -24% -24% 1,692 Exceptional Exceptional cost cost 1,446 €42m
Slide 12: Secular growth trend remained intact
Secular growth trend remained intact H1/2020 | €m Consolidation Secular growth Cyclical growth Note +3% +7% +7% Consolidation effects mainly driven +17% by Qontigo (Axioma) and a small 1,692 contribution from IFS (Ausmaq). 103 All segments with positive secular growth contribution, with good p
Slide 13: Operating cost development
Operating cost development H1/2020 | €m Variable-/ share Consolidation Investments Net inflation based comp. Note +7% +7% → 0% 2% Consolidation effects mainly driven +9% (organic) by Qontigo (Axioma) and a small 591 contribution from IFS (Ausmaq). 11 0 Higher investments in growth and 38 techn
Slide 14: Outlook
Outlook FY/2020 | €m Net profit guidance Note Mid-term target Despite strong H1/2020, guidance +10-15% CAGR for 2020 remains unchanged. +10% ~1.20bn +17% 1,106 For FY/2020 Deutsche Börse expects: 1,003 857 Continued secular net revenue growth of at least 5% and around €1.20 billion adjusted net prof
Slide 15: Appendix
Appendix Deutsche Börse Group | 30 July 2020 | 14
Slide 16: Income statement – group level reported
Income statement – group level reported Quarter ended Quarter ended (in €m) 30 June 2020 30 June 2019 Sales revenue 837.8 747.7 Net interest income from banking business 50.4 66.7 Other operating income 4.7 3.0 Total revenue 892.9 817.4 Volume-related costs -115.4 -92.6 Net revenue 777.5 724.8 Staff
Slide 17: Income statement – group level adjusted
Income statement – group level adjusted Quarter ended Quarter ended (in €m) 30 June 2020 30 June 2019 Sales revenue 837.8 747.7 Net interest income from banking business 50.4 66.7 Other operating income 4.7 3.0 Total revenue 892.9 817.4 Volume-related costs -115.4 -92.6 Net revenue 777.5 724.8 Staff
Slide 18: Income statement – segmental level I/II
Income statement – segmental level I/II Eurex EEX 360T Xetra (financial derivatives) (commodities) (foreign exchange) (cash equities) (in €m) Q2/20 Q2/19 Q2/20 Q2/19 Q2/20 Q2/19 Q2/20 Q2/19 Net revenue 271.5 255.3 71.2 71.3 23.6 21.8 94.4 79.3 Staff costs adj. -49.8 -43.2 -22.5 -20.9 -10.0 -8.6 -23.
Slide 19: Income statement – segmental level II/II
Income statement – segmental level II/II Clearstream IFS Qontigo (post-trading) (investment fund services) (index and analytics business) (in €m) Q2/20 Q2/19 Q2/20 Q2/19 Q2/20 Q2/19 Net revenue 212.6 214.8 50.8 43.6 53.4 38.7 Staff costs adj. -55.0 -53.5 -17.6 -16.3 -20.9 -7.8 Other operating expens
Slide 20: Financial calendar and contact details
Financial calendar and contact details Financial calendar 26 Aug 2020 Virtual US Roadshow organised by Commerzbank Deutsche Börse AG 01 Sep 2020 Virtual Group Meeting for US investors organised by Morgan Stanley Investor Relations 02 Sep 2020 Virtual Group Meeting for European investors organised by
Slide 21: 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