Report
Roland Pfaender,MBA,CFA,CCRA

Deutsche Börse : Secular growth drivers held up well in Q1 2019

>Q1 2019 adj. EPS of € 1.59 moderately ahead of estimates - Deutsche Börse reported a solid set of Q1 2019 figures ahead of our estimates and consensus. Adj. group net revenues stood at € 720.8m (our estimate: € 717.1m, consensus: € 722.6m), up 4.2% yoy. Reported adj. EPS stood at € 1.59, up 9.8% yoy, ahead of our estimate of € 1.57 and consensus of € 1.54. Adjusted for a positive one-off related to the termination of a contract of a partner exchange, the clean adj. E...
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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