Deutsche Börse Group reported a 4% increase in net revenue to €1.51 billion in the second quarter of 2025, supported by long-term structural growth despite a weaker treasury result.
Deutsche Börse Group Revenue Rises 4% in Q2
In a release on Thursday, the firm said that excluding the treasury component, net revenue grew 10% year-on-year to €1.3 billion, slightly ahead of internal expectations.
Operating costs rose 3% to €620 million, while EBITDA climbed 5% to €891 million. Stripping out the treasury result, EBITDA surged 19% to €684 million.
Net income attributable to shareholders rose 2% to €509 million, although the prior-year period had benefited from a favourable tax effect. Cash earnings per share stood at €2.96.
CFO Gregor Pottmeyer commented that the second-quarter performance reflected “our long-term growth strategy, which focuses in particular on product innovation, new client acquisition as well as market share gains.”
He added that increased capital inflows into Europe were also contributing to growth across the business.
Pottmeyer highlighted the company’s operational leverage: “Combined with notably underproportional cost growth, we also achieved strong operational economies of scale in the second quarter.”
Despite the effects of normalised equity market volatility and a weaker U.S. dollar, Deutsche Börse reaffirmed its full-year guidance.
It continues to expect net revenue, excluding the treasury result, to reach €5.2 billion and EBITDA, excluding the treasury result, to total €2.7 billion in 2025.
“We are therefore very confident about the second half of the year and confirm our forecast for the full year despite declining equity market volatility,” stated Pottmeyer.
