Deutsche Borse AG has closed the second quarter of 2005 with record sales and earnings. Sales revenue increased by 13% year-on-year to Euro 405.5 million (Q2/2004: Euro 359.0 million). EBITA (earnings before interest, taxes and goodwill amortization) amounted to Euro 174.4 million in Q2 – up 35% on the prior-year period (Q2/2004: Ђ129.5 million). Earnings per share rose to Euro 1.02 in the second quarter (Q2/2004: Euro 0.60, after goodwill amortization).
Mathias Hlubek, Chief Financial Officer of Deutsche Borse said he was extremely pleased with the Company’s business development in the first half of the year. Positive trends in capital markets helped increase demand for Deutsche Borse Group’s products and services in the first six months. “Our 9% year-on-year sales revenue growth in the first half of 2005 is by far the Group’s strongest organic growth since the Company’s IPO in 2001. On the basis of our excellent six-month figures, we are lifting our guidance for the current financial year: we are confident that we will exceed our EBITA target for 2005 of around Ђ600 million by at least 5%,” said Hlubek. The CFO reiterated the Company’s medium-term growth targets of approximately 5% for sales revenue and 10% for the operating result (EBITA), based on its 2005 EBITA target of Euro 600 million.
The Company’s segment reporting for the second quarter shows that Clearstream again recorded the highest sales revenue. Revenues (sales revenue and net interest income from banking business) increased by 11% to Euro 182.0 million in Q2/2005 (Q2/2004: Euro 164.2 million). Revenue growth was driven mainly by growth in the international custody business and an increase in settlement transactions. The custody volume rose by 8% year-on-year to Euro 8.3 trillion; custody business from international securities recorded disproportionately high growth of 18 percent. Settlement instructions were up by 6% to 12.7 million (Q2/2004: 12.0 million). The segment’s EBITA grew by 23% to Euro 59.9 million (Q2/2004: Euro 48.7 million), while costs remained stable.