Slide 1: Q3/2018 Results Analyst and Investor Conference Call
Q3/2018 Results Analyst and Investor Conference Call 30 October 2018
Slide 2: Highlights Q3/2018 results
Q3/2018 Results 30 October 2018 Deutsche Börse Group 1 Highlights Q3/2018 results Adjusted net revenue in Q3 increased to €651 million (+13%), adjusted operating costs stood at €260 million (+5%), adjusted EBITDA amounted to €395 million (+19%), and adjusted net profit increased to €240 million (+
Slide 3: Q3/2018 – Group financials
Q3/2018 Results 30 October 2018 Deutsche Börse Group 2 Q3/2018 – Group financials Revenue, costs and earnings development €m Operating Net revenue1 EBITDA1 Net profit1,2 costs1 Revenue +13% Net revenue: €651.4m (+13% y-o-y) Adjusted for €9.3m insurance payment 651 Net interest income: €48.6m (
Slide 4: Eurex (financial derivatives)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 3 Eurex (financial derivatives) Net revenue Business activity EBITDA4 €m €m +15% OTC clearing (€tr) 203 Notional Other1 8.9 +433% 26 outstanding (avg) 176 OTC clearing2 7 Notional cleared 4.3 +1256% +24% 27 12 Margin fees3 7 9 3 Equity 135 7 Finan
Slide 5: EEX (commodities)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 4 EEX (commodities) Net revenue Business activity EBITDA2 €m €m +28% 62 17 Other1 48 14 8 Gas Volume (TWh) 461 -8% +49% 6 27 Power 20 Volume (TWh) 1.092 +49% derivatives 13 18 15 16 Power spot Volume (TWh) 138 +3% Q3/17 Q3/18 Q3/17 Q3/18 1) Includ
Slide 6: 360T (foreign exchange)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 5 360T (foreign exchange) Net revenue Business activity EBITDA2 €m €m +26% 21 3 Other1 17 2 +16% Average daily 9 18 Trading 72 +23% 7 volumes (€bn) 14 Q3/17 Q3/18 Q3/17 Q3/18 1) Including net revenue from connectivity and member fees 2) Adjusted f
Slide 7: Xetra (cash equities)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 6 Xetra (cash equities) Net revenue Business activity EBITDA3 €m €m +1% 53 53 10 10 Other1 4 4 Listing +6% 29 30 Order book volume (€bn)2 Trading and Equities 351 +10% 39 40 clearing ETF, ETC, ETN 34 +3% Q3/17 Q3/18 Q3/17 Q3/18 1) Including net re
Slide 8: Clearstream (post-trading)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 7 Clearstream (post-trading) Net revenue1 Business activity EBITDA1 €m €m +10% 175 158 Other2 18 Cash balances (€bn) 12.6 +2% 14 7 Third party 7 services thereof US$ 6.7 -3% +15% 38 NII 26 110 Settlement 17 18 Settlement transactions 11.3 +6% 96 I
Slide 9: IFS (investment fund services)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 8 IFS (investment fund services) Net revenue Business activity EBITDA2 €m €m +6% 37 35 9 Other1 9 Settlement 12 Settlement 6 +9% transactions (m) +4% 11 16 17 Assets under 15 17 Custody custody (€tr) 2.4 +8% Q3/17 Q3/18 Q3/17 Q3/18 1) Including ne
Slide 10: GSF (collateral management)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 9 GSF (collateral management) Net revenue Business activity EBITDA1 €m €m +5% 21 20 Securities Outstandings 9 10 51 -15% lending (€bn) -1% 12 12 Outstandings 11 11 Repo 380 -3% (€bn) Q3/17 Q3/18 Q3/17 Q3/18 1) Adjusted for exceptional items
Slide 11: STOXX (index business)
Q3/2018 Results 30 October 2018 Deutsche Börse Group 10 STOXX (index business) Net revenue Business activity EBITDA1 €m €m +2% 32 33 Other +1% 15 15 licences 22 22 Traded contracts 188 +12% Exchange (m) 6 7 licences ETF AuM (€bn) 11 11 ETF STOXX 83 +4% DAX 28 -2% Q3/17 Q3/18 Q3/17 Q3/18 1) Adjusted
Slide 12: Data
Q3/2018 Results 30 October 2018 Deutsche Börse Group 11 Data Net revenue Business activity EBITDA2 €m €m +25% 47 11 Other1 38 +36% 34 Regulatory 9 4 services 2 25 Cash and 32 Subscriptions (k) 358 -17% 26 derivatives Q3/17 Q3/18 Q3/17 Q3/18 1) Including net revenue from internal and external coopera
Slide 13: Q1-3/2018 – Group financials
Q3/2018 Results 30 October 2018 Deutsche Börse Group 12 Q1-3/2018 – Group financials Net revenue1 Operating costs1 EBITDA1 Net profit1,2 €m €m €m €m +11% 2,030 +15% 1,823 1,259 1,093 +5% +16% 738 778 772 663 Q1-3/17 Q1-3/18 Q1-3/17 Q1-3/18 Q1-3/17 Q1-3/18 Q1-3/17 Q1-3/18 1) Adjusted for exceptional
Slide 14: Acceleration of secular growth and improvement in cyclical environment drove double-digit net revenue growth
Q3/2018 Results 30 October 2018 Deutsche Börse Group 13 Q1-3/2018 – Acceleration of secular growth and improvement in cyclical environment drove double-digit net revenue growth Net revenue growth drivers in Q1-3/20181 €m +0.5% Acceleration of secular net +4% 2,030 revenue growth in Q1-3/2018 +7% 8
Slide 15: Efficient cost management ensured scalability of the business model
Q3/2018 Results 30 October 2018 Deutsche Börse Group 14 Q1-3/2018 – Efficient cost management ensured scalability of the business model Operating cost growth drivers in Q1-3/20181 €m 778 5 5 In total, operating costs in the first half 2018 15 increased as planned by ~5%. +5% 15 Variable- and sha
Slide 16: Appendix
Q3/2018 Results 30 October 2018 Deutsche Börse Group 15 Appendix
Slide 17: Income statement – Group level adjusted
Q3/2018 Results 30 October 2018 Deutsche Börse Group 16 Income statement – Group level adjusted Quarter ended Quarter ended 30 September 2018 30 September 2017 Sales revenue 678.0 629.4 Net interest income from banking business 48.6 32.1 Other operating income 9.2 5.1 Total revenue 735.8 666.6 Volum
Slide 18: Income statement – Segmental level I/II
Q3/2018 Results 30 October 2018 Deutsche Börse Group 17 Income statement – Segmental level I/II Eurex EEX 360T Xetra (financial derivatives) (commodities) (foreign exchange) (cash equities) Q3/2018 Q3/2017 Q3/2018 Q3/2017 Q3/2018 Q3/2017 Q3/2018 Q3/2017 Net revenue 202.6 175.6 61.6 48.0 20.9 16.6 53
Slide 19: Income statement – Segmental level II/II
Q3/2018 Results 30 October 2018 Deutsche Börse Group 18 Income statement – Segmental level II/II Clearstream IFS (investment fund GSF (collateral STOXX (index) Data (post-trading) services) management) Q3/2018 Q3/2017 Q3/2018 Q3/2017 Q3/2018 Q3/2017 Q3/2018 Q3/2017 Q3/2018 Q3/2017 Net revenue 174.71
Slide 20: Financial calendar and contact details
Q3/2018 Results 30 October 2018 Deutsche Börse Group 19 Financial calendar and contact details Financial calendar Contact details 14 Nov 2018 UBS (London) Deutsche Börse AG 15 Nov 2018 HSBC (Luxembourg) Investor Relations Mergenthalerallee 61 19 Nov 2018 DZ Bank (Frankfurt) 65760 Eschborn 27 Nov 201
Slide 21: Disclaimer
Q3/2018 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