Deutsche Borse reported record results for the first quarter of 2005 at €399.4 million, and sales revenue was 5% higher than in Q1 of 2004. In addition the group earned €25.9 million in net interest income from banking business.
EBITA (Earnings Before Interest Taxes and Amortization of Goodwill) totaled €177.7 million – an increase of 18% (Q1 of 2004: €150.4 million), and earnings per share in the first quarter were up to €0.97 (Q1 of 2004: €0.69).
Deutsche Borse CEO Werner Seifert said, “The results for the first quarter again underline the strength of our business strategy, the advantages of our business model, the skills and experience of our team and our strong competitive position.”
Deutsche Borse also announced the full scope of its Capital Management Program outlining its capital management and distribution policy going forward. With this program, Deutsche Borse will distribute funds not required for the group’s operating business to shareholders, subject to specific investment needs and capitalization requirements. In total, Deutsche Borse aims to distribute approximately 1.5 billion euros to shareholders by May 2007, including approximately 800 million euros in 2005.
The distribution of funds is anticipated to occur through an increase in the company’s dividend payout ratio to at least 50% complemented by an ongoing share buy back program. Under its current share repurchase program commenced on 13 April, Deutsche Borse has bought back 3.01 million shares or a total volume of 180.82 million euros, as of 28 April.