Increase in Deutsche Börse's Net Revenue by 4 Percent
In a recent announcement, Deutsche Boerse AG, a leading international exchange organisation, reported a robust performance in the first half of 2025 (H1/2025). The Group's Chief Financial Officer, Gregor Pottmeyer, attributed the secular growth to a long-term strategy focused on product innovation, new client acquisition, and market share gains.
Financial Highlights
The Group's net revenue for H1/2025 stood at €3.01 billion, marking a 4-5% increase from approximately €2.88 billion in H1/2024. Excluding the treasury results, which declined, net revenue grew by about 10-15% to roughly €2.57 billion.
EBITDA, excluding treasury results, was €1.8 billion, representing a 4% increase from the previous year. Operating costs rose moderately by about 3%, primarily due to inflation, planned investments, and lower exceptional costs related to integration activities. Total operating costs were around €1.22 billion compared to €1.17 billion in H1/2024.
Net income attributable to shareholders was €509 million, a 2% increase from the same quarter of the previous year. Earnings per share before purchase price allocation effects (Cash EPS) amounted to €2.96.
Growth Drivers
Deutsche Boerse attributes its performance to several secular growth drivers, including increased market volumes, expansion in post-trade and clearing services, and strong demand across capital markets segments. The company also benefits from ongoing innovation, technological investments, and operational efficiencies leading to improved margins despite cost inflation.
Capital Inflows and Future Outlook
Increased capital inflows into Europe are driving growth in many areas of Deutsche Boerse Group. The Group confirmed its forecast of net revenue without the treasury result of around €5.2 billion and EBITDA without the treasury result of around €2.7 billion for 2025. EBITDA rose to €891 million, an increase of 5%, while EBITDA without the treasury result grew by 19% to €684 million.
Deutsche Boerse Group invites readers to sign up for a newsletter to receive exclusive articles on securities markets. The Group's half-yearly financial report 2025 was published on 24/07/2025.
Investing in Deutsche Boerse AG, a leading international exchange organization, could be an attractive opportunity, given its robust performance in H1/2025. The Group's growth drivers include increased market volumes, expansion in post-trade and clearing services, and strong demand across capital markets segments, as well as ongoing innovation, technological investments, and operational efficiencies leading to improved margins.
