Report
Roland Pfaender,MBA,CFA,CCRA

Deutsche Borse : Solid year-end finish; Q4 2020e should come in ahead of consensus

>We forecast Q4 2020e adjusted net profit of € 273m vs € 262m consensus - Deutsche Börse is due to report Q4 2020 results on 10 February after trading. We forecast a solid finish to the year based on underlying business activity and the tailwind from a disposal in the Xetra segment (disposal of regulatory reporting hub: ~€ 18m profit uplift). We forecast net revenue of € 798.7m for the quarter (up 5.5% y-o-y) and adjusted net attributable profit of € 272.7m (up 12.5% ...
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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