Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse Group — Q1 2018 Earnings Presentation

20 slides from Deutsche Boerse's earnings presentation, Apr 26, 2018

  1. Slide 1: Q1/2018 Results Analyst and Investor Conference Call

    Q1/2018 Results Analyst and Investor Conference Call 26 April 2018

  2. Slide 2: Strategy programme “Roadmap 2020”

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 1 Strategy programme “Roadmap 2020” Key elements of the “Roadmap 2020” are an accelerated growth strategy and increased investments in new technologies. Growth and investments will be refinanced through reductions of structural costs. The “Roadmap 2

  3. Slide 3: Highlights Q1/2018 results

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 2 Highlights Q1/2018 results  With the Q1/2018 results, Deutsche Börse has introduced a new financial segment reporting (from 4 to 9 segments), which highlights growth areas and increases transparency.  In the first quarter secular net revenue inc

  4. Slide 4: Group financials

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 3 Group financials Revenue, costs and earnings development €m Net revenue Costs1,2 EBITDA1 Net profit1 Revenue +11%  Net revenue: €691.6m (+11% y-o-y) 692  Net interest income: €40.9m (+37% y-o-y) 623 +15% Costs  Operating costs1: €254.5m (+4% y-

  5. Slide 5: Eurex (financial derivatives)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 4 Eurex (financial derivatives) Net revenue Business activity EBITDA3 €m EBITDA margin in %3 +10% 237 70 70 OTC clearing (€tr) 215 Other1 39 Notional €m 5 OTC clearing2 4.7 +276% 39 outstanding +11% 11 Equity 10 2 Notional cleared 3.3 +844% 166 59 F

  6. Slide 6: EEX (commodities)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 5 EEX (commodities) Net revenue Business activity EBITDA3 €m EBITDA margin in %3 +15% 62 45 48 54 16 Other1 €m 14 +23% 30 11 Gas Volume (TWh) 525 +6% 9 24 Power Volume (TWh) 985 +22% 18 16 derivatives2 15 17 Power spot Volume (TWh) 141 +5% Q1/17 Q1/

  7. Slide 7: 360T (foreign exchange)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 6 360T (foreign exchange) Net revenue Business activity EBITDA2 €m EBITDA margin in %2 +7% 18 45 45 17 3 Other1 3 €m +7% 8 7 Average daily 14 15 Trading volumes (€bn) 63 +6% Q1/17 Q1/18 Q1/17 Q1/18 1) Including net revenue from connectivity and memb

  8. Slide 8: Xetra (cash equities)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 7 Xetra (cash equities) Net revenue Business activity EBITDA3 €m EBITDA margin in %3 +16% 62 52 64 53 10 Other1 €m 10 4 Listing +43% 3 39 Order book volume (€bn)2 28 Trading and Equities 429 +33% 48 40 clearing ETF, ETC, ETN 51 +33% Q1/17 Q1/18 Q1/1

  9. Slide 9: Clearstream (post-trading)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 8 Clearstream (post-trading) Net revenue Business activity EBITDA2 €m EBITDA margin in %2 +9% 179 62 65 164 19 Other1 17 9 Third party €m services Cash balances 7 12.8 -15% +14% (€bn) 24 34 NII thereof US$ 7.2 +2% 116 21 Settlement Settlement 102 23

  10. Slide 10: IFS (investment fund services)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 9 IFS (investment fund services) Net revenue Business activity EBITDA2 €m EBITDA margin in %2 +12% 39 42 48 35 10 Other1 €m 8 +29% 19 Settlement 13 Settlement transactions (m) 6.6 +14% 15 12 Assets under 15 16 Custody 2.4 +12% custody (€tr) Q1/17 Q1

  11. Slide 11: GSF (collateral management)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 10 GSF (collateral management) Net revenue Business activity EBITDA1 €m EBITDA margin in %1 -9% 21 60 52 19 €m 10 Securities Outstandings -21% 9 58 -2% 13 lending (€bn) 10 Outstandings 11 11 Repo 365 -15% (€bn) Q1/17 Q1/18 Q1/17 Q1/18 1) Adjusted fo

  12. Slide 12: STOXX (index business)

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 11 STOXX (index business) Net revenue Business activity EBITDA1 €m EBITDA margin in %1 +35% 34 56 69 €m Other 25 14 licences +67% 23 10 Exchange Traded contracts 235 +18% 9 (m) 14 licences 7 ETF AuM (€bn) 11 ETF STOXX 88 +31% 7 DAX 29 +5% Q1/17 Q1/1

  13. Slide 13: Data

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 12 Data Net revenue Business activity EBITDA2 €m EBITDA margin in %2 +6% 43 69 63 40 9 Other1 €m 8 Regulatory -4% 3 5 services 28 27 29 Cash and Subscriptions 29 419 -6% derivatives (k) Q1/17 Q1/18 Q1/17 Q1/18 1) Including net revenue from internal

  14. Slide 14: Acceleration of secular growth and improvement in cyclical environment drove double-digit net revenue growth

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 13 Acceleration of secular growth and improvement in cyclical environment drove double-digit net revenue growth Net revenue growth drivers in Q1/2018 €m +4% +7% 692 667 25 +11%  Acceleration of secular net revenue growth in 44 623 Q1/2018 with ~7%,

  15. Slide 15: Efficient cost management ensured scalability of the business model

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 14 Efficient cost management ensured scalability of the business model Operating cost drivers in Q1/20181 €m 3 255 5  In Q1/2018 operating costs increased ~4%; excluding consolidation effects operating cost 6 +4% were up ~3%. 245 2  Variable- and

  16. Slide 16: Financial calendar and contact details

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 15 Financial calendar and contact details Financial calendar Contact details 16 May 2018 Annual general meeting (10am CET) Deutsche Börse AG 30 May 2018 Investor day, London (10am-1pm GMT) Investor Relations Mergenthalerallee 61 6 Jun 2018 Goldman S

  17. Slide 17: Income statement – Group level adjusted

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 16 Income statement – Group level adjusted Quarter ended Quarter ended 31 March 2018 31 March 2017 Sales revenue 731.7 666.4 Net interest income from banking business 40.9 29.9 Other operating income 6.5 6.2 Total revenue 779.1 702.5 Volume-related

  18. Slide 18: Income statement – Segmental level I/II

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 17 Income statement – Segmental level I/II Eurex EEX 360T Xetra (financial derivatives) (commodities) (foreign exchange) (cash equities) Q1/2018 Q1/2017 Q1/2018 Q1/2017 Q1/2018 Q1/2017 Q1/2018 Q1/2017 Net revenue 237.0 214.6 61.8 53.6 17.6 16.5 61.7

  19. Slide 19: Income statement – Segmental level II/II

    Q1/2018 Results 26 April 2018 Deutsche Börse Group 18 Income statement – Segmental level II/II Clearstream IFS (investment fund GSF (collateral STOXX Data (post-trading) services) management) (index) Q1/2018 Q1/2017 Q1/2018 Q1/2017 Q1/2018 Q1/2017 Q1/2018 Q1/2017 Q1/2018 Q1/2017 Net revenue 178.7 16

  20. Slide 20: Disclaimer

    Q1/2018 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 subject to known an

Deutsche Börse Group — Q1 2018 Earnings Presentation on 6ix