Deutsche Boerse Ag · XETR:DB1
Deutsche Boerse — Deutsche Börse Group — Q1 2024 Earnings Presentation
17 slides from Deutsche Boerse's earnings presentation, Apr 24, 2024
Slide 1: Q1/2024 financial results
Q1/2024 financial results Analyst and Investor Conference Call 24 April 2024
Slide 2: Good start into the year with Q1/2024 and further progress in strategy
Good start into the year with Q1/2024 and further progress in the implementation of our strategy Consolidation of SimCorp, which contributed 10% inorganic net revenue growth, was key driver of results; business achieved good performance after the seasonally strong Q4 Net revenue €1,427m Organic
Slide 3: Group financials
Detailed income statement Group financials Q1/2024 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +16% +13% +7% €262m +6% (organic) +9% (organic) +9% (organic) Treasury result +15% €565m 1,427 Operating cost +25% 1,231 2.89 2.70 Financial investments €13m 875 Depreciation2 €118m 772 Fin
Slide 4: Operating costs
Operating costs Q1/2024 Operating cost bridge | €m Note Organic cost growth of 4% was driven by exceptional costs, inflation Organic and additional investments, which +4% was partly offset by lower share- 565 based compensation 545 20 Creation of Investment Management Solutions segment resulte
Slide 5: Investment Management Solutions
Detailed income statement Investment Management Solutions Q1/2024 Net revenue | €m EBITDA | €m Business development +91% +101% Software Solutions benefited from +12% (organic) +35% (organic) new clients and contract renewals with very good momentum especially 300 in analytics; SimCorp’s ne
Slide 6: Trading & Clearing
Detailed income statement Trading & Clearing Q1/2024 Net revenue | €m EBITDA | €m Business development –1% –1% Financial Derivatives impacted by lower equity market volatility (−31%) and higher comparables in Q1/23; 608 604 higher fixed income derivatives 36 39 FX & Digital Assets │ +8% volume
Slide 7: Fund Services
Detailed income statement Fund Services Q1/2024 Net revenue | €m EBITDA | €m Business development +11% +17% Fund Services segment benefitted from improved equity market valuations and growth from new clients 118 and portfolios 106 20 Other1 │ –9% Net interest income: higher rates 22 overcomp
Slide 8: Securities Services
Detailed income statement Securities Services Q1/2024 Net revenue | €m EBITDA | €m Business development +13% +17% Custody and Settlement positively affected by ongoing high level of fixed income issuance activity and higher 406 index levels 36 Other1 │ +0% 361 Net interest income: higher rat
Slide 9: Appendix
Appendix Deutsche Börse Group │ 24 April 2024 8
Slide 10: We simplify financial reporting and focus on consolidated product levels
We simplify financial reporting and focus on consolidated product levels Old reporting New reporting Note Margin fees are reported in the Financial derivatives 330.7 Financial derivatives 330.7 respective product group (Equities Equities 131.4 and Fixed Income) Equities 113.4 t/o margin fees 18.0
Slide 11: Income statement – group level
Back to group overview Income statement – group level Income statement | €m Q1/24 Q1/23 Change % Sales revenue 1,454.9 1,250.0 16 Treasury result from banking business 261.5 226.9 15 Other operating income 9.0 4.5 100 Total revenue 1,725.4 1,481.4 16 Volume-related costs –298.1 –250.2 19 Net revenue
Slide 12: Detailed income statement – Investment Management Solutions
Back to segmental overview Detailed income statement – Investment Management Solutions Income statement Volume Revenue per volume Q1/24 Q1/23 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 300.0 156.7 91 Software Solutions 161.4 19.9 711 ARR (€m) 537 15 On-premises 70.4 0.0 SaaS (
Slide 13: Detailed income statement – Trading & Clearing
Back to segmental overview Detailed income statement – Trading & Clearing Income statement Volume Revenue per volume Q1/24 Q1/23 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 603.9 607.8 –1 Financial Derivatives 330.7 357.6 –8 1 Equities 131.4 165.8 –21 Contracts (m) 266 –21 €/co
Slide 14: Detailed income statement – Fund Services
Back to segmental overview Detailed income statement – Fund Services Income statement Volume Revenue per volume Q1/24 Q1/23 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 117.6 106.1 11 Fund Processing1 60.2 51.6 17 AuC (€bn) 3,518 10 bps p.a. 0.684 6 Fund Distribution 21.1 21.4 –
Slide 15: Detailed income statement – Securities Services
Back to segmental overview Detailed income statement – Securities Services Income statement Volume Revenue per volume Q1/24 Q1/23 Change Unit Volume Change Unit RPV Change €m €m % % % Net revenue 405.8 360.6 13 Custody 1 161.0 154.5 4 AuC (€bn) 14,723 6 bps p.a. 0.437 –1 Settlement 32.8 29.4 12 Tran
Slide 16: Financial calendar and contact details
Financial calendar and contact details Financial calendar 14 May 2024 Annual General Meeting Deutsche Börse AG 15 May 2024 Redburn Canada Conference (Toronto) Investor Relations Mergenthalerallee 61 22 May 2024 Berenberg European Conference (New York) 65760 Eschborn 23 May 2024 dbAccess European Cha
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