Deutsche Boerse Q3 net profit up 32%, beating expectations

Deutsche Boerse Q3 net profit up 32%, beating expectations

Deutsche Boerse Q3 net profit up 32%, beating expectations

Bull and bear symbols in front of the German stock exchange in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach/File Photo

  • Helped by volatility in gas and power markets
  • Confirms guidance for 2021

FRANKFURT, Oct 19 (Reuters) – German exchange operator Deutsche Boerse (DB1Gn.DE) said on Tuesday it posted a 32% rise in third-quarter net profit, a better result than analysts had expected, and it confirmed its guidance for the year.

Net profit attributable to shareholders was 300.3 million euros ($349.31 million), up from 227.1 million euros a year ago, the company said. Analysts had expected a profit increase of nearly 27%.

Results were helped by volatility in power and gas markets, which increased trading turnover that in turn generates revenue for the company.

Deutsche Boerse confirmed it would reach its 2021 targets. Those include revenue of around 3.5 billion euros and earnings before interest, taxes, depreciation and amortization of around 2 billion euros.

“We are well positioned on our planned growth path,” said Chief Financial Officer Gregor Pottmeyer.

($1 = 0.8597 euros)

Reporting by Tom Sims and Frank Siebelt, Editing by William Maclean

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