Ad-hoc | 6 May 2004 20:14

Deutsche Börse with record results in first quarter 2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Revenues of EUR379 million in Q1/ EBIT increases to EUR132.8 million/ Clearstream’s custody and settlement business and Xetra cash market segment driving Group growth Deutsche Börse AG closed Q1 with record results in terms of both revenues and EBIT. At EUR379.1 million, revenues were up by around 8 percent year-on-year (Q1/2003: EUR350.5 million) with net interest income from banking business contributing a further EUR18.6 million. Earnings before interest and taxes (EBIT) rose by 5.3 percent as against Q1/2003 to total EUR132.8 million (Q1/2003: EUR126.1 million). Segment reporting once again shows Clearstream as the strongest performer, recording revenues of EUR146.0 million (Q1/2003: EUR131.5 million). Revenues were driven up mainly by an increase in proceeds from securities settlement and custody. This result represents the strongest growth recorded by Clearstream since its integration into Deutsche Börse Group. EBIT in the Clearstream segment rose by 24 percent to EUR31.1 million (Q1/ 2003: EUR25.1 million), with costs remaining stable. Revenues in the Eurex segment also increased in the first quarter of this year, rising from EUR104.4 million in Q1/2003 to EUR106.9 million in Q1/2004. EBIT reached EUR53.5 million compared with EUR62.9 million in the same quarter last year. Due to investments into the Eurex US derivatives exchange, and it’s operating cost, profits were lower year-on-year. Revenues in the Xetra segment rose by 42 percent to EUR65.2 million (Q1/2003: EUR45.9 million). EBIT recorded above-average growth, climbing from EUR4.4 million in Q1/2003 to EUR33.8 million. This is due to the 16 percent increase in the number of transactions executed on the Pan-European trading system Xetra, and the increase of approximately 51 percent in the number of transactions executed on the trading floor of the Frankfurt Stock Exchange. This means that the investments made in fiscal years 2002 and 2003 relating, among other things, to the introduction of the Central Counterparty for the cash market (“ECCP”) in April, have paid off. In the Information Technology segment, externally generated revenues fell to EUR31.8 million (Q1/2003: EUR35.2 million), while EBIT reached EUR16.9 million (Q1/2003: EUR24.4 million). The company secured a large volume of new business in Q1/2004, in particular with Deutsche WertpapierService Bank AG (dwpbank), European Energy Exchange AG (EEX) and in the form of project contracts at a number of banks. Due to the difficult market environment in the market data business, the Information Services segment generated slightly less revenue than in Q1/2003 at EUR29.2 million (Q1/2003: EUR33.5 million). EBIT for Q1/2004 totaled EUR10.2 million (Q1/2003: EUR12.9 million). end of ad-hoc-announcement (c)DGAP 06.05.2004 ——————————————————————————– WKN: 581005; ISIN: DE0005810055; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 062014 Mai 04