Report
Roland Pfaender,MBA,CFA,CCRA

Deutsche Borse : Strong start to the year with EBITDA growth ahead of expectations

>Q1 2024 results ahead of expectations with EBITDA growth of 13.4% y-o-y - Deutsche Börse reported a strong start to the year. Slightly higher-than-expected net revenues and lower-than-expected costs led to an EBITDA growth of 13.4% y-o-y (compared to >10% targeted EBITDA growth for 2024). Reported EBITDA came in at € 875m which compares to € 842m consensus estimate and our € 849m estimate. Group deleveraging continued as Deutsche Börse fully redeemed outstanding co...
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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