Deutsche Börse AG

Earnings Release • Aug 7, 2002

News Details

Ad-hoc | 7 August 2002 20:25

Deutsche Börse AG english

Deutsche Börse shows further growth in second quarter Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Deutsche Börse shows further growth in second quarter – Group sales in Q2 2002 up 12 percent vs. Q2 2001 at Euro 205.3 (Q2 2001: 182.9) mn – Earning before interest and tax (EBIT) 14 percent higher than previous year’s quarter at Euro 80,0 (70,3) mn – Exceptional expenses of Euro 4.2 mn for Clearstream integration in Q2 – Sales of first six months at Euro 410.2 (374.6) mn with 10 percent growth vs. previous year, EBIT of Euro 167.4 (160.5) mn up 4 percent – Earnings per share (DVFA) of Euro 0.57 (0.51) up 12 percent against previous year’s quarter (average number of shares in Q2 2002: 103.952.468), for first six months of Euro 1.20 (1.21) down 1 percent, but increase of average number of shares issued during periods (H1 2002: 103.359.528, H1 2001: 96.716.354) – Second quarter: high sales growth in segments Eurex (compared to previous year’s quarter +17 percent at Euro 73.6 (62,7) mn) and Information Products (+28 percent at Euro 33.1 (25.8) mn), decreasing sales in cash market segment Xetra (-13 percent at Euro 52.0 (60.0)mn) mainly caused by further decrease in floor trading activity. Segment Information Technology with external sales of Euro 46.6 (34,4) mn, including a contribution of Euro 15.4 mn by “entory” which was acquired in December 2001 and is being consolidated from Q1 2002 on. – Net earnings from Clearstream participation increase by 74 percent to Euro 19.8 (11.4) mn, caused by ongoing efficiency improvements. – EBIT of segment Information Products up 348 percent to Euro 13.9 (3.1) mn. Eurex EBIT due to higher expenses for product developments and other cost constant at Euro 27.9 (28.2) mn, Xetra EBIT down 53 percent to Euro 4.8 (10.3) mn. Information Technology EBIT at Euro 22.6 (22.5) mn with low negative EBIT contribution by “entory” – Operating cash flow in first six months up 134 percent to Euro 180.1 (76.9) mn end of ad-hoc-announcement (c)DGAP 07.08.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Deutsche Börse Shows Further Growth in Second Quarter Sales revenue up 12 percent in Q2, EBIT rises 14 percent/ First six months see 10 percent growth in sales revenue and four percent in EBIT Deutsche Börse AG shows further substantial growth in sales revenue and EBIT for the second quarter of the current business year. The company reported on Wednesday that, compared to the second quarter of last year, sales revenue increased by about 12 percent, to 205.3 million euros. Earnings before taxes and interest (EBIT), at 80.0 million euros, was 14 percent higher than in the second quarter of last year. For the first half of the current year, this results in an increase of about 10 percent in sales revenue, to 410.2 million euros, EBIT rose by about 4 percent, to 167.4 million euros. Deutsche Börse’s chief financial officer Mathias Hlubek said: “The second- quarter results again confirm the growth potential for Deutsche Börse Group. Against the background of these figures, we are confident that we will meet our ambitious growth and profitability targets for the year as a whole.” The segment reporting shows a definite rise in Q2 sales revenue at Eurex (up 17 percent), Information Products (up 28 percent) and Information Technology (up 35 percent), while sales revenue in the Xetra segment, which comprises the cash- market activities, declined due to the continuing downturn in trading on the floor (13 percent lower). Eurex set a new record in turnover with 182.6 million contracts traded during the second quarter, with a decisive increase above all in the index products of about 64 percent. In Information Products, the new packaging introduced on April 1, in other words the bundling of data into information packages, had a favorable impact on revenue. Revenue growth in Information Products was achieved especially outside Germany. In the case of Xetra, the weak environment in the equities market had an unfavorable effect, although the number of transactions on the electronic trading system continues to grow. The Information Products and Settlement segments showed significant growth in EBIT of about 348 percent and 74 percent, respectively. In the case of Information Products, it is the first quarterly result in which the development costs for the CEF data distribution system introduced last year are no longer reflected. The rise in earnings in the Settlement segment – as of the third quarter, the earnings ofthe subsidiary Clearstream will be fully consolidated for the first time – is the result of a cost-cutting program which reduced the outlays for external services in particular. At Eurex, the EBIT remains at a constant level with 27.9 million euros in spite of a distinct rise in sales revenue due to further expenditure in the subsidiaries Eurex Bonds GmbH and Eurex Repo GmbH as well as higher marketing outlays for new products. Key Figures on the Results for the Second Quarter and First Six Months of 2002 Quarter ended Six months ended 30 June 2002 30 June 2001 30 June 2002 30 June 2001 Sales revenue (in EUR m) 205.3 182.9 410.2 374.6 EBIT (in EUR m) 80.0 70.3 167.4 160.5 Profit before tax from ordinary activities (in EUR m) 89.4 83.5 184.4 182.3 Net profit for the period (in EUR m) 59.3 52.2 123.8 117.4 DVFA/SG earnings per share ( EUR) 0.57 0.51 1.20 1.21 Number of shares (Weighted average number of shares outstanding) 103,952,468 102,760,000 103,359,528 96,716,354 ——————————————————————————– WKN: 581005; ISIN: DE0005810055; Index: MDAX Listed: Amtlicher Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 072025 Aug 02