Deutsche Boerse abandons FY outlook
FRANKFURT, July 26
FRANKFURT, July 26 (Reuters) - German exchange operator Deutsche Boerse abandoned its full-year targets blaming subdued market activity caused by the euro zone crisis.
For 2012, Deutsche Boerse had expected net revenue of approximately 2.15 billion euros ($2.61 billion) to 2.3 billion euros and EBIT in the range of 1.2 billion euros to 1.35 billion euros.
Deutsche Boerse on Thursday said it would moderately fall short of these targets unless there was a drastic recovery in market activity in the second half of the year.
"It will be increasingly challenging to generate growth in the current fiscal year because of the weaker market environment and the ongoing uncertainty amongst market participants," finance chief Gregor Pottmeyer said in a statement.
($1 = 0.8248 euros) (Reporting By Edward Taylor)