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Deutsche Boerse Q2 profit grows 10%, beats expectations

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FILE PHOTO: Bull and bear symbols are seen in front of the German stock exchange (Deutsche Boerse) in Frankfurt
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FRANKFURT (Reuters) -German exchange operator Deutsche Boerse said on Tuesday it posted a better-than-expected 10% rise in second-quarter net profit, helped by volatility in financial markets that generate trading revenue.

The company said it should "significantly exceed" its targets for 2022 as volatility continues and interest rates rise.

Net profit attributable to shareholders was 341 million euros ($345.19 million), up from 311 million euros a year ago, the company said. Analysts had expected a profit increase of 5.9%.

"Inflation, interest rates, volatility – the financial market environment is still characterised by a high degree of uncertainty. For this reason also the second quarter clearly exceeds our expectations," said Chief Financial Officer Gregor Pottmeyer.

The company said it now expects 2022 net revenue to be significantly more than 3.8 billion euros and earnings before interest, taxes, depreciation and amortisation (EBITDA) to be significantly more than 2.2 billion euros.

($1 = 0.9878 euros)

(Reporting by Tom Sims and Marta OroszEditing by Chris Reese and Bernadette Baum)

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