Deutsche Börse Group Sees 16% Yearly Increase in Net Revenue for Q1 2023

Deutsche Börse Group released its financial results for the first quarter of 2023 (Q1 2023), showing an increase of 16% in net revenue on a YoY basis.

Net revenue for the quarter reached €1,231.2 million, increasing 16% compared to €1,061.6 million in Q1 2022. Net revenue in Securities Services segment during the period included a gain of €49 million from the sale of the stake in REGIS-TR. Cyclical effects, new customers and market share gains, as well as ongoing demand for innovative products and ESG solutions, remained key factors behind the secular growth in the first quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 12% from €687.4 million to €772.1 million on a yearly basis. This includes net income from financial investments of €–6.4 million (Q1/22: €32.5 million). The decline is due largely to the higher market valuation of the Illuminate fintech fund in the previous year, since market valuations fell slightly in the first quarter of 2023.

Net profit for Q1 2023 attributable to the Group's shareholders totaled €473.3 million, 12% higher than €420.8 million in the same period of 2022. Earnings per share before purchase price allocations (Cash EPS) came to €2.70, 13% higher than €2.40 in last Q1.

"Trading volumes performed very strong in the first quarter of 2023 and were above our expectations. The factors affecting net interest income were also very positive," commented Gregor Pottmeyer, Chief Financial Officer of Deutsche Börse AG. "Even more important, however, is our continuous and dependable secular growth in this quarter. We therefore now expect that we will be at the upper end of our forecast for the current financial year, or even slightly above it, if the strong cyclical tailwinds continue."