Deutsche Boerse Q4 net profit up 23%, as 2021 targets met

FRANKFURT (Reuters) -German exchange operator Deutsche Boerse said on Wednesday that it posted a 23% rise in fourth-quarter net profit, a slightly better result than analysts had expected.

The showing during the last three months of 2021 allowed the company to meet its targets for the year, despite low volatility in markets that put a lid on its ability to generate revenue.

Net profit attributable to shareholders was 281.2 million euros ($321.58 million), up from 228.9 million euros a year ago, the company said. Analysts had expected a profit increase of nearly 22%.

The company announced new targets for 2022. They include net revenue of around 3.8 billion euros, and earnings before interest, taxes, depreciation and amortisation of around 2.2 billion.

Theodor Weimer, chief executive officer, said over the next two years he would continue to focus on secular growth and mergers and acquisitions.

($1 = 0.8744 euros)

(Reporting by Tom Sims and Frank SiebeltEditing by Chris Reese, Kirsten Donovan)