Deutsche Boerse Q3 net profit up 32%, beating expectations

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Bull and bear symbols in front of the German stock exchange in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach/File Photo

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  • Helped by volatility in gas and power markets
  • Confirms guidance for 2021

FRANKFURT, Oct 19 (Reuters) - German exchange operator Deutsche Boerse (DB1Gn.DE) said on Tuesday it posted a 32% rise in third-quarter net profit, a better result than analysts had expected, and it confirmed its guidance for the year.

Net profit attributable to shareholders was 300.3 million euros ($349.31 million), up from 227.1 million euros a year ago, the company said. Analysts had expected a profit increase of nearly 27%.

Results were helped by volatility in power and gas markets, which increased trading turnover that in turn generates revenue for the company.

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Deutsche Boerse confirmed it would reach its 2021 targets. Those include revenue of around 3.5 billion euros and earnings before interest, taxes, depreciation and amortization of around 2 billion euros.

"We are well positioned on our planned growth path," said Chief Financial Officer Gregor Pottmeyer.

($1 = 0.8597 euros)

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Reporting by Tom Sims and Frank Siebelt, Editing by William Maclean

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