Deutsche Boerse posts 30% Q2 profit increase, to exceed 2023 forecasts (updated)

SIMCORP A/S

25/07/2023 18:38

(Adds details on results in paragraph 2 and details on revenue
and outlook from paragraph 4)
       FRANKFURT, July 25 (Reuters) - German exchange operator
Deutsche Boerse  DB1Gn.DE  on Tuesday reported a 30% rise in
second-quarter net profit, better than analysts had expected,
and said it would exceed its forecasts for 2023.
    Higher interest rates from central banks around the globe
have generated interest income for Deutsche Boerse, lifting
revenues and profits and offsetting more subdued volatility and
trading volumes. 
    Net profit attributable to shareholders was 443 million
euros ($489.03 million), up from 341 million euros a year ago,
the company said. Analysts had expected a profit increase of
24%.
    Revenue at the group rose 20% in the quarter from a year
earlier. Analysts had expected an increase of 15%.
         Deutsche Boerse was upbeat on its outlook, saying that
2023 earnings would exceed its targets.
  
        Those forecasts were for full-year revenue of 4.5
billion-4.7 billion euros and earnings before interest, taxes,
depreciation and amortisation of 2.6 billion-2.8 billion euros.
  
        It said a planned takeover of SimCorp  SIM.CO  was on
schedule. 
  
($1 = 0.9059 euros)

 (Reporting by Tom Sims and Sabine Wollrab
Editing by Chris Reese and Leslie Adler)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))