Factors of uncertainty such as the Ukraine war are driving Deutsche Börse's business more strongly than expected.
After a strong first quarter, the Dax group is raising its annual forecast - partly because the business with financial derivatives and commodities is flourishing.
Shares of Deutsche Börse rose around 1 percent in early trading on Tuesday in a friendly environment.
So far, the stock exchange operator had net proceeds of 3.8 billion euros on the slip.
He now wants to surpass this mark, as he announced on Monday after the market closed.
The group also wants to surpass the originally targeted 2.2 billion euros in earnings before interest, taxes, depreciation and amortization.
Because of the war in Ukraine, rising commodity prices and global supply bottlenecks, uncertainty on the market has increased, the statement said.
This has led to more trading volume in almost all asset classes.
In addition, the need to hedge investments with derivatives has increased.
They are among the most important sources of income for Deutsche Börse.
Against this background, the Frankfurt-based company increased net sales in the first quarter by 24 percent to 1.06 billion euros.
The operating result climbed by 32 to 687 million euros.
Experts interviewed by the company had expected less for both indicators.
More than half of the revenue comes from the new “Trading & Clearing” segment, in which the group bundles derivatives, stocks and commodities trading, among other things.
The bottom line was that 421 million euros remained as a profit in the first quarter, a third more than in the previous year.
"The first quarter of 2022 was well above our expectations," said CFO Gregor Pottmeyer according to the announcement.
The extraordinary growth stems equally from cyclical momentum, internal strength and acquisitions.
As part of its medium-term forecast, Deutsche Börse intends to grow by 10 percent annually between 2019 and 2023 – both in terms of net revenue and operating profit.
Half of the growth is to come from acquisitions.
JP Morgan analyst Gurjit Kambo spoke of a “strong start to the year” for Deutsche Börse.
The good result benefited in particular from a cyclical tailwind.
In an analysts' conference on Tuesday, Deutsche Börse wants to explain details of the business figures.Keywords: