Deutsche Börse Group Reports 9% YoY Growth in Net Revenue for Q3 2023, Completes Acquisition of SimCorp

Deutsche Börse Group has published its financial results for the third quarter ended September 30, 2023 (Q3 2023), showing an increase of 9% in net revenue on a yearly basis.

Financial Overview for Q3 2023

• Net revenue came in at €1,188.3 million, rising by 9% compared to €1,090.2 million in the same period of last year.

• Earnings before interest, tax, depreciation and amortisation (EBITDA) reached €684.8 million, up 7% compared to €642.3 million in Q3 2022.

• Operating costs reached €504.9 million, 13% higher than €445.6 million in the third quarter of last year.

• Net income attributable to the Group’s shareholders totaled €400.3 million, increasing by 7% compared to €373.3 million in the quarter a year ago. Earnings per share rose by 6% from €2.03 in Q3 2022 to €2.16 in Q3 2023.

Regarding the acquisition of SimCorp​, Deutsche Börse stated in the announcement that SimCorp shareholders accepted the Group’s takeover offer by a large majority of 94%.

It added: "We will acquire the remaining SimCorp shares in the course of a squeeze-out. The SimCorp shares are planned to be delisted from Nasdaq Copenhagen on 30 October 2023."

Gregor Pottmeyer, CFO of Deutsche Börse AG, commented on the financial results: "Against a good prior-year quarter, we were again able to significantly increase our net revenue. Our secular growth areas and the interest rate environment made a significant contribution. Now that the acquisition of SimCorp has been closed, we will be pooling our data, analytics and software business in the new Investment Management Solutions segment in the fourth quarter and thus create new growth opportunities. By consolidating SimCorp, we now anticipate that we will significantly exceed our original guidance for the full year 2023 and generate net revenue of around €5.0 billion and EBITDA of around €2.9 billion."