Slide 1: Q4 and FY/2021 Preliminary financial results
Q4 and FY/2021 Preliminary financial results Analyst and Investor Conference Call 10 February 2022
Slide 2: Good overall results in 2021 despite strong cyclical headwinds
Good overall results in 2021 despite strong cyclical headwinds Secular M&A Cyclical Operating cost growth contribution headwinds control +6% secular net +7% net revenue −4% cyclical net Flat organic FY/2021 revenue growth growth from M&A revenue decline operating cost Net revenue €3,510m ▪ Secular n
Slide 3: Development in 2021 fully in-line with our guidance
Development in 2021 fully in-line with our guidance Net revenue | €m EBITDA | €m Cash EPS1 | € Note +9% CAGR Financial results 2021 fully in-line with: +6% secular +5% M&A + 11 % C A G R ▪ Annual guidance −2% cyclical ~€3.5bn net revenue ~€2.0bn EBITDA 3,510 6.98 3,214 ▪ Compass 2023 mid-term guidan
Slide 4: Successful execution of M&A agenda
Successful execution of M&A agenda M&A focus areas D e ve l o p m e n t s i n 2 0 2 1 ▪ Acquisition of remaining stake in Clearstream Fund Centre from UBS and successful D a t a & a n a l yt i c s integration; business on track to deliver continued strong organic net revenue growth. ▪ Index and anal
Slide 5: Preliminary group financials FY/2021
Preliminary group financials FY/2021 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +9% +9% +15% +2% (organic) +6% (organic) +12% (organic) Net interest €143m income −27% €1,552m 3,510 6.98 Operating cost +13% 3,214 0% (organic) 6.07 Financial investments €85m 2,043 Depreciation2 €294m
Slide 6: Some support from strong performance of minority investment portfolio in 2021
Some support from strong performance of minority investment portfolio in 2021 Selected minority investments ~15% ~15% ▪ Minority investment portfolio includes a AI-powered tech platform to analyse #1 one-stop-shop infrastructure broad range of attractive businesses along the societal impact of inves
Slide 7: Preliminary group financials Q4/2021
Preliminary group financials Q4/2021 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +15% +16% +25% +6% (organic) +12% (organic) +23% (organic) Net interest €43m income +18% €446m 935 1.64 Operating cost +15% 814 +1% (organic) 1.31 Financial investments €16m 504 Depreciation2 €88m 437 Fi
Slide 8: Eurex (financial derivatives)
Eurex (financial derivatives) Q4/2021 Net revenue | €m EBITDA | €m Business activity −2% −2% −3% (organic) −2% (organic) Total 421m derivatives −1% 261 255 Index 200m derivatives −12% 35 38 Other1 15 16 Eurex data Fixed income 149m 19 17 Margin fees2 derivatives +18% 15 16 OTC clearing3 14 1
Slide 9: EEX (commodities)
EEX (commodities) Q4/2021 Net revenue | €m EBITDA | €m Business activity +30% +77% Power 164 TWh spot +1% 108 Power 1,999 TWh derivatives +19% 35 Other1 1,187 TWh 83 Gas +100% 20 16 Gas 59 13 31 37 Power derivatives 33 20 20 Power spot Q4/20 Q4/21 Q4/20 Q4/21 1) Including net revenue from connec
Slide 10: 360T (foreign exchange)
360T (foreign exchange) Q4/2021 Net revenue | €m EBITDA | €m Business activity +12% +12% Average daily €102bn volumes (ADV) +15% 29 26 6 Other1 6 15 13 23 Trading 20 Q4/20 Q4/21 Q4/20 Q4/21 1) Including net revenue from connectivity and member fees. Deutsche Börse Group │ 10 February 2022 9
Slide 11: Xetra (cash equities)
Xetra (cash equities) Q4/2021 Net revenue | €m EBITDA | €m Business activity −17%1 −23%1 Order book volume3 €425bn Equities 0% 110 Order book volume3 €77bn 11 ETF, ETC, ETN +29% 92 13 Other2 471 71 25 Xetra data 54 6 7 Listing 46 47 Trading & clearing Q4/20 Q4/21 Q4/20 Q4/21 1) Including ~€20 mi
Slide 12: Clearstream (post-trading)
Clearstream (post-trading) Q4/2021 Net revenue | €m EBITDA | €m Business activity +10% +33% Assets under €13.4tr custody +10% 206 Settlement 18.6m 188 25 Other1 transactions (ICSD) +4% 24 5 Third party services 21 Collateral management Cash balances €15.3bn 5 19 14 Net interest income total volu
Slide 13: IFS (investment fund services)
IFS (investment fund services) Q4/2021 Net revenue | €m EBITDA | €m Business activity +28% +26% Assets under €3.4tr custody +18% 92 Settlement 12.2m transactions +12% 17 Other1 72 13 23 Fund distribution 57 14 45 23 Settlement 20 30 Custody 24 Q4/20 Q4/21 Q4/20 Q4/21 1) Including net revenue fro
Slide 14: Qontigo (index and analytics business)
Qontigo (index and analytics business) Q4/2021 Net revenue | €m EBITDA | €m Business activity +6% +2% ETF assets under €116bn management +25% 78 Exchange licences 185m 74 traded contracts −14% 27 Analytics 23 43 44 32 29 Other licences 10 Exchange licences 9 10 12 ETF Q4/20 Q4/21 Q4/20 Q4/21 Deu
Slide 15: ISS (Institutional Shareholder Services)
ISS (Institutional Shareholder Services) Q4/2021 Net revenue | €m EBITDA | €m Note +19% +94% ▪ ESG net revenue contains Corporate Solutions, ESG Analytics and Governance Solutions businesses. 74 ▪ Non-ESG net revenue amongst others contains Market Intelligence, Media as well as FWW (fund data),
Slide 16: Dividend proposal
Dividend proposal FY/2021 Dividend per share and pay-out | € Capital management policy ▪ Deutsche Börse aims to distribute 40%-60% of annual net profit to shareholders in form of the regular dividend. +7% 3.20 ▪ Within this range, pay-out mainly 2.90 3.00 depends on the business development and divi
Slide 17: Significant progress with implementation of Compass 2023 strategy since 2019
We have made significant progress with the implementation of our Compass 2023 strategy since 2019 Strong secular 1 growth Strong secular net revenue growth with +6% CAGR since 2019, despite the challenges from the COVID-19 pandemic and corresponding cyclical headwinds. Over-delivering Successful exe
Slide 18: Key focus going forward is continued execution of Compass 2023
Key focus going forward is continued execution of Compass 2023 Compass 2023 Key focus areas and strategy enhancements ▪ Consistently deliver on Compass 2023 secular growth and M&A targets in-line with our 10% CAGR “growth formula”. CONTINUED SECULAR GROWTH ▪ Benefit from emergence of some cyclical t
Slide 19: New segment reporting to highlight growth areas and simplify equity story
New segment reporting to highlight growth areas and simplify equity story P r e - t r a di ng Tr a di n g & c l e a r i ng P o s t - t r a di ng Current segment Qontigo ISS Institutional Eurex EEX 360T Xetra Clearstream IFS Investment reporting Index and analytics shareholder services Financial deri
Slide 20: Increased focus on ESG: sustainability framework and KPI dashboard
Increased focus on ESG is reflected in our new sustainability framework and KPI dashboard Sustainability framework Key non-financial KPIs Increase transparency Provide solutions Performance Achievement Target ESG reporting advice and Our products and indicator in 2021 services combined with the serv
Slide 21: Outlook FY/2022
Outlook FY/2022 Net revenue | €m EBITDA | €m Cash EPS1 | € Note +10% CAGR ▪ Compass 2023 mid-term plan Compass 2023 target targets 10% CAGR for net revenue (5% secular + 5% M&A), EBITDA and Cash EPS. 2022 target +10% CAGR +10% CAGR ▪ For 2022 Deutsche Börse ~3.8bn Compass 2023 target Compass 2023 ta
Slide 22: Appendix
Appendix Deutsche Börse Group │ 10 February 2022 21
Slide 23: Income statement – group level
Income statement – group level (in €m) Q4/2021 Q4/2020 Sales revenue 1,125.0 948.8 Treasury result from banking business 43.0 36.3 Other operating income 10.2 34.4 Total revenue 1,178.2 1,019.5 Volume-related costs –243.4 –205.5 Net revenue 934.8 814.0 Staff costs –267.2 –212.0 Other operating expen
Slide 24: 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) Q4/21 Q4/20 Q4/21 Q4/20 Q4/21 Q4/20 Q4/21 Q4/20 Net revenue 255.4 260.7 107.7 83.0 29.3 26.1 92.1 110.4 Staff costs –56.5 –48.2 –29.3 –25.1 –10.3 –10.3 –23.0
Slide 25: Income statement – segmental level II/II
Income statement – segmental level II/II Clearstream IFS Qontigo ISS (post-trading) (investment fund services) (index and analytics business) (Institutional Shareholder Services) (in €m) Q4/21 Q4/20 Q4/21 Q4/20 Q4/21 Q4/20 Q4/21 Q4/20 Net revenue 205.8 187.7 92.1 71.9 78.4 74.2 74.0 Staff costs –66.
Slide 26: Financial calendar and contact details
Financial calendar and contact details Financial calendar 08 - 09 Mar. 2022 RBCCM Global Financial Institutions Conference (virtual/ New York) 15 Mar. 2022 Morgan Stanley European Financials Conference (London) Deutsche Börse AG 16 Mar. 2022 FIA Boca – Investor Group Meeting organised by Piper Sandl
Slide 27: 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