German trading giant, Deutsche Börse Group, has reported its figures for the third quarter of 2015 today. Net revenue of the group increased by 20% year over year to €594.4 million. This significant increase is attributed by Deutsche Börse primarily to persistently high equity market volatility, the positive development in custody and administration of securities, and the market data business.
At €344.0 million, operating costs increased 25.5% in Q3 2015 mainly due to consolidation and exchange rate effects. Adjusted EBIT amounted to €283.1 million, up 21.4% from Q3 2014, and basic adjusted earnings per Deutsche Börse share were €1.03.
The group recently completed the acquisition of index provider STOXX and the acquisition of OTC trading venue 360T. To fund the two transactions, a hybrid bond with a principal amount of €600 million, treasury shares of €200 million and a bond with a principal amount of €500 million were placed in the market. 360T was included in Deutsche Börse’s financial statements since the beginning of October.
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The group now expects operating costs, adjusted for non-recurring items, of €1.245 billion for 2015 as a result of the consolidation of 360T. At the same time, the group says it will generate additional net revenue of approximately €17 million until the end of the year.
Gregor Pottmeyer, Deutsche Börse AG’s CFO and Executive Board member for human resources, said: “In light of the continuing positive market environment, with double-digit growth rates in the trading business, as well as continuous growth at Clearstream and Market Data + Services, the Group is expecting net revenue at the upper end of the forecast range of €2.2 to €2.4 billion for full-year 2015. In addition, the Group has already made excellent progress with the implementation of the ‘Accelerate’ growth strategy announced at the end of July.”