Report
Roland Pfaender,MBA,CFA,CCRA

Deutsche Börse : Deutsche Börse might face subdued growth momentum in 2019e

>Q4 2018: a strong year-end finish, revenues surprised positively - Deutsche Börse reported a strong set of Q4 2018 figures which beat expectations on net revenue growth and were broadly in line with consensus on adj. net profit. Group net revenues stood at € 740.4m (our estimate and consensus: ~€ 710m), up 15.9% yoy. Adj. EPS stood at € 1.25, up 20.2% yoy, slightly shy of € 1.26 consensus and our € 1.28 estimate triggered by € 30m negative one-offs (software deprecia...
Underlying
Deutsche Boerse AG

Deutsche Boerse is a financial services provider. Co.'s segments include Eurex, which comprises areas such as T7 electronic derivatives market trading platform, T7 electronic options trading platform, and Eurex Repo® over-the-counter trading platform; Xetra, which comprises areas such as cash market, the Specialist trading, and Eurex Bonds® OTC trading platform. Clearstream, which comprises custody and settlement services, securities financing services and collateral management, and investment funds services; and Market Data + Services, which comprises areas such as Distribution of licenses for real-time trading and market signals, and development and sales of indices.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Roland Pfaender,MBA,CFA,CCRA

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