The following is a summary of the Deutsche Börse AG (DBOEY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Deutsche Boerse significantly exceeded original net revenue guidance for 2023, ending the year with close to EUR 5.1 billion.

• Secular growth, driven by the analytics, repo, commodities, and FX businesses totaled 5%.

• 7% of cyclical net revenue growth came from higher interest rates.

• Inclusion of SimCorp's results boosted overall revenue for the year by EUR 200 million.

• The company posted 17% EBITDA growth and proposes a dividend of EUR 3.80 per share, with a payout of around 40%.

• A EUR 300 million share buyback program has been initiated.

• For 2024, projected net revenue and EBITDA stand at over EUR 5.6 billion and EUR 3.2 billion respectively.

• Strong 2023 financial performance with net revenue growth above 17% and the EBITDA margin at 60%.

Business Progress:

• Strategic priorities include supporting further secular growth, ensuring success for the new IMS segment, and the application of new capital management frameworks.

• Focus will be on deleveraging through the redemption of commercial paper issued for the SimCorp acquisition, improving rating metrics, and completing the current share buyback program.

• The company is in a strong position entering 2024, with growth planned across their individual businesses and the scaling of SimCorp.

• Robust growth in the new Investment Management Solutions segment due to new client acquisition and existing clients' renewal.

• Increase in market share in the European derivatives market attributed to increased market activity by Algo Traders.

• The company expects to achieve 60% (EUR 54 million) of the planned EUR 90 million synergies with SimCorp by 2024.

More details: DEUTSCHE BOERSE AG IR

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