Deutsche Boerse Q2 net profit boosted by M&A growth (updated)

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27/07/2021 18:44

(Adds details)
    FRANKFURT, July 27 (Reuters) - German exchange operator
Deutsche Boerse  DB1Gn.DE  on Tuesday posted a 21% rise in
second-quarter net profit and confirmed its guidance for the
year.
    Net profit attributable to shareholders was 310.9 million
euros ($368 million), compared with 256.7 million euros a year
ago, the company said. Analysts had expected a profit increase
of 16%.
    Low market volatility depressed revenue, and low interest
rates kept a lid on interest income, the company said.
    But recent acquisitions, such as the fund distributor
platform Clearstream Fund Centre from UBS, as well as the
purchase of Institutional Shareholder Services, helped buoy
results.
    "Especially in a cyclically challenging market environment
like the second quarter of 2021, the importance of M&A growth
becomes clear and confirms our strategy," said Chief Financial
Officer Gregor Pottmeyer.
    He said he was confident of reaching 2021 targets. They
include revenue of around 3.5 billion euros and earnings before
interest, taxes, depreciation and amortization of around 2
billion euros.

($1 = 0.8450 euros)

 (Reporting by Tom Sims and Patricia Uhlig; Editing by Chris
Reese and Mike Harrison)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))