Deutsche Börse AG published its figures for the second quarter of 2013 on Thursday. The Group generated net revenue of €497.1 million, up 3 per cent on the first quarter of 2013. The increase is attributable to a slight improvement in the business environment. However, net revenue was down slightly on the prior-year quarter (Q2/2012: €506.7 million) in light of the ongoing difficult capital market environment. The Group’s operating costs amounted to €234.1 million, adjusted for special items (Q2/2012: €224.0 million). The planned year-on-year increase in operating costs was attributable to higher investments in growth initiatives and infrastructure. Adjusted for special items, earnings per share amounted to €0.97 in the second quarter of 2013 (Q2/2012: €1.01). With this, the Group generated net revenue of €981.4 million in the first half of 2013. Adjusted operating costs in the first half of 2013 amounted to €463.6 million. This resulted in an adjusted EBIT of €523.8 million and adjusted earnings per share of €1.89. Operating costs totalled €243.8 million in the reporting period, up on the previous year (Q2/2012: €228.9 million). However, this item included costs for efficiency programmes and for mergers and acquisitions of €9.7 million (Q2/2012: €4.9 million). Adjusted for these one-off effects, costs increased by 5 per cent to €234.1 million (Q2/2012: €224.0 million) as a result of higher investments, and were thus in line with the company’s planning. The result from Deutsche Börse Group’s equity investments amounted to €3.0 million (Q2/2012: €1.0 million). It was generated primarily by European Energy Exchange AG, Scoach Holding S.A. and Direct Edge Holdings, LLC. Overall, Deutsche Börse Group’s earnings before interest and tax (EBIT) declined to €256.3 million in the reporting period (Q2/2012: €278.8 million). Excluding the special items mentioned above, the Group's EBIT was €266.0 million (Q2/2012: €283.7 million). The Group’s financial result for Q2/2013 was €–20.1 million, as against €–21.8 million in the second quarter of 2012. The decrease is mainly a result of the successfully completed refinancing of long term interest bearing liabilities in the second quarter. The adjusted effective Group tax rate stood unchanged at 26.0 per cent in the second quarter of 2013 (Q2/2012: 26.0 per cent). As a result, the Group’s consolidated net income for the period amounted to €171.0 million in the second quarter of 2013 (Q2/2012: €186.2 million). Excluding the special items mentioned above, consolidated net income totalled €178.2 million (Q2/2012: €189.8 million). Basic earnings per share were €0.93 based on 184.1 million shares outstanding (Q2/2012: €0.99 based on 188.6 million shares outstanding) and adjusted earnings per share were €0.97 (Q2/2012: €1.01). Results for H1/2013 |
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