Slide 1: Annual Press Conference FY 2023 Preliminary results
Annual Press Conference FY 2023 Preliminary results 8 February 2024
Slide 2: Development in 2023 significantly exceeded original expectations, leading to another record year
Development in 2023 significantly exceeded original expectations, leading to another record year Net revenue | €bn EBITDA | €bn Cash EPS | € ▪ Organic net revenue growth of 12% in 2023 17% 17% 16% significantly exceeded original expectations ▪ Key driver was the extraordinary net interest 5.1 income
Slide 3: We have demonstrated a strong track record for growth, overdelivering on our objectives
We have demonstrated a strong track record for growth, overdelivering on our objectives Net revenue | €bn 13% CAGR 2017-2023 5% + 4% + 4% Compass 2023 secular cyclical M&A (target: net revenue ~10% CAGR, t/o ~5% organic) CAGR CAGR CAGR 5.1 Growth out of own Normalisation of Acquisition of Roadmap 20
Slide 4: Group financials
Group financials FY/2023 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +17% +17% +16% €961m +12% (organic) +17% (organic) +19% (organic) Treasury result +81% €2,118m 5,077 Operating cost +16% 4,338 9.98 Financial investments €−14m 8.61 Depreciation2 €419m 2,944 2,526 Financial result €
Slide 5: Investment Management Solutions
Investment Management Solutions FY/2023 Net revenue | €m EBITDA | €m Business development +32% +6% ▪ SimCorp’s net revenue of €198 million in Q4/2023 was above expectations; software solutions overall benefited 863 from new clients and renewals, with especially good momentum in analytics 652 ▪ S
Slide 6: Trading & Clearing
Trading & Clearing FY/2023 Net revenue | €m EBITDA | €m Business development +3% +1% ▪ Financial derivatives benefitted mainly from higher fixed income activity (futures and repo), while lower equity 2,263 volatility resulted in a decline of 2,187 140 Foreign exchange margin fees 133 294 Cash eq
Slide 7: Fund Services
Fund Services FY/2023 Net revenue | €m EBITDA | €m Business development +17% +11% ▪ In fund distribution and processing, outflows from active equity funds to passive and fixed income were 440 compensated by new clients 376 ▪ In Q4/22, Distribution included 141 Other1 ~€4 million one-off net reve
Slide 8: Securities Services
Securities Services FY/2023 Net revenue | €m EBITDA | €m Business development +35% +50% ▪ Custody and Settlement positively affected by ongoing high level of fixed income issuance activity and higher 1,511 index levels 136 Other1 ▪ Net interest income: much higher rates overcompensated a decline
Slide 9: Dividend proposal
Dividend proposal FY/2023 Dividend per share and pay-out Capital management Payout ratio (%) ▪ To reflect increased earnings and the Dividend per share (€) 6% strong growth outlook, we adjusted our dividend payout ratio target to 30-40% of the annual net profit ▪ Within this range, we manage the 3.8
Slide 10: Outlook for 2024 is in-line with the Horizon 2026 growth trajectory
Outlook for 2024 is in-line with the Horizon 2026 growth trajectory Net revenue | €bn Strategic priorities in 2024 ~6.4 >5.6 Support further secular growth 5.1 ▪ Leverage momentum in fixed income: expansion of repo offering, increase of 4.3 market share in OTC clearing and move into short-term inter
Slide 11: Slide 11
Slide 12: Q&A
Q&A
Slide 13: Media calendar and contact details
Media calendar and contact details 07 Feb 2024 Publication preliminary results Q4 and FY 2023 (around 19:00) Deutsche Börse AG Media Relations 08 Feb 2024 Annual Press Conference (10:30) Mergenthalerallee 61 08 Feb 2024 Analyst and investor conference call Q4 and FY 2023 65760 Eschborn 28-29 Feb 202