ESCHBORN (dpa-AFX) - German stock exchange operator Deutsche Börse (DBOEF.PK, DBOEY.PK) reported that its second-quarter net income attributable to shareholders rose to 175.1 million euros from last year's 159.3 million euros in the prior year. Earnings per share amounted to 0.95 euros, up from 0.86 euros in the prior year.
Excluding special items, consolidated net income for the period stood at 187.7 million euros, compared to 165.2 million euros in the prior year. Adjusted for the special items, basic earnings per share amounted to 1.02 euros, up from euros 0.90 last year.
Deutsche Börse Group's earnings before interest and taxes (EBIT) rose to 271.4 million euros from 238.6 million euros in the previous year.
Deutsche Börse Group's net revenue was up 19 per cent to 583.1 million euros from the prior year's 491.2 million euros. The increase was mainly driven by higher equity and interest rate volatility and the continued positive developments in securities custody and settlement as well as in the market data business (Clearstream, Market Data + Services).
Deutsche Börse launches the group-wide growth programme 'Accelerate'. Having conducted an in-depth review of its strategy, organisational structures and business processes, Deutsche B?rse launched 'Accelerate' with the long-term objective of becoming the global market infrastructure provider of choice, being top-ranked in all businesses it is in.
The company anticipates net revenue increases of between 5 and 10 per cent annually, based on its current business portfolio and assuming a continued recovery of the world economy as well as medium-term interest rate rises.
The Group targets 10 per cent to 15 per cent increases in earnings before interest and taxes (EBIT) and net income. This implies a target range of between 2.8 billion euros and 3.2 billion euros in net revenue and EBIT of between 1.55 billion euros and 1.75 billion euros for 2018, including the recently announced acquisitions of STOXX and 360T.
The Group also plans to unlock capacity for further investment, as an additional growth-accelerating effect. Through delayering, the integration of functions into competence centres and further improvements in purchasing and procurement, the Group is looking to create about 50 million euros in additional investment capacity from 2016 onwards. This will require one-off restructuring costs of about 60 million euros in the year 2015.
Copyright RTT News/dpa-AFX