Deutsche Börse with Q2 Interim Statement

Deutsche Börse AG reported Q2 sales at EUR359.0 million, up 2 percent on Q2/2003 (EUR351.9 million). The company generated a further EUR19.9 million from net interest income from banking business (Q2/2003: EUR23.8 million). Earnings before interest and taxes (EBIT) were slightly below the previous year at EUR112.7 million (Q2/2003: EUR115.3 million). On the basis of the results for the first half of the year, Deutsche Börse is confident to achieve the EBIT target of at least EUR450 million for the full year 2004.

The company's segment reporting shows that Clearstream again recorded the highest sales revenue in the second quarter - up 8 percent to EUR144.3 million (Q2/2003: EUR134.2 million). In its largest business area, custody, volumes increased by 7 percent year-on-year to EUR7,700 billion. Segment EBIT rose by 9 percent to EUR33.4 million (Q2/2003: EUR30.7 million) on the back of reduced costs. The Eurex segment generated sales revenue of EUR101.7 million - just under last year's record figure (Q2/2003: EUR103.9 million). At EUR42.1 million, EBIT in the derivatives market was also down year-on-year (Q2/2003: EUR59.7 million). The Xetra segment grew by 4 percent and recorded sales revenue of EUR52.3 million, as against EUR50.4 million in Q2 2003. Its EBIT almost tripled to EUR18.1 million (Q2/2003: EUR6.9 million) on the back of lower costs. The Information Technology segment generated external sales revenue of EUR30.7 million in the second quarter, compared with EUR33 million in the prior-year period. EBIT improved by 54 percent to EUR27.6 million (Q2/2003: EUR17.9 million). At EUR30.0 million, Information Services generated almost the same level of sales revenue as in the previous year (Q2/2003: EUR30.4 million). Costs were reduced by 5 percent and EBIT fell slightly to EUR11.1 million (Q2/2003: EUR12.6 million).