Deutsche Boerses net profit fell 32% in the first quarter 2012. The first results for Exchange after the planned merger with NYSE Euronext was rejected by the European Union revealed a net profit for the quarter of 146.2 million, compared with 214.1 million in the first quarter of 2011. The decline was attributed to lower trading volumes in equities and derivatives.
At 552.4 million, the groups sales revenue remained virtually stable despite reduced activity on the financial markets. This was mainly due to the full acquisition of Eurex from the Swiss exchange organization SIX Group. The groups operating costs rose to 248.6 million and include exceptional items amounting to 22.9 million, like costs for the prohibited merger with NYSE Euronext, and higher scheduled investments in growth initiatives.
In Deutsche Boerse Groups consolidated financial statement 100% of Eurexs sales revenue was reported for the first time in the first quarter of 2012. Adjusted for this effect, sales revenue was down 5% year-on-year due to reduced activity on the financial markets. In addition to sales revenue, the group generated net interest income from banking business of 18.5 million, up 15% year-on-year due to higher customer cash balances (Q12011: 16.1 million).
At 248.6 million, operating costs were down 17% year-on-year (Q1/2011:211.8 million) and included costs of 16.6 million (Q1/2011: 10.2 million) relating to the prohibited merger with NYSE Euronext, as well as costs for efficiency programs in the amount of 6.3 million (Q1/2011: 3.4 million).
Deutsche Boerse Group generated earnings before interest and taxes (EBIT) of 260.0 million (the first quarter of 2011: 319.1 million). Adjusted for special factors, EBIT amounted to 282.9 million (Q1/2011: 332.5 million) in the first quarter of 2012.
At Clearstream, the value of securities deposited (average for the period) was 5,893 billion for the international business, down from 5,949 billion for the first quarter of 2011, while domestic deposits for the quarter were 5,134 billion, down from 5,385 billion the previous corresponding quarter.
The number of transaction were 10.1 million for the international business, down from 10.4 million for the first quarter of 2011, while for the domestic business, the number of domestic transactions were 20.7 million, down from 23.7 million for the first quarter of 2011.
In Clearstreams Global Securities Financing business, the average outstanding volume for the period was 588.5 billion in the first quarter, compared to 543.0 billion in the first quarter of 2011.
(JDC)