Deutsche Börse Group has just published its half-yearly financial report 2025 including the figures for the second quarter. Please scroll down for the link to the entire report.

Overview of the results:

• Our net revenue rose by 4 percent to €1,505 million in the second quarter of 2025, mainly due to secular growth factors and despite lower treasury result.
• Net revenue without the treasury result, which is relevant for the management of the Group, increased by 10 percent to €1,298 million and was again slightly above our own expectations.
• Operating costs saw an expected increase of 3 percent to €620 million.
• Our earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to €891 million, an increase of 5 percent. EBITDA without the treasury result even grew by 19 percent to €684 million.
• Net income attributable to our shareholders was €509 million, 2 percent higher than in the same quarter of the previous year, which benefited from a positive tax effect. Earnings per share before purchase price allocation effects (Cash EPS) amounted to €2.96. 
• Despite the normalization of equity market volatility and a weaker US dollar exchange rate, we confirm our forecast of net revenue without the treasury result of around €5.2 billion and EBITDA without the treasury result of around €2.7 billion for 2025.
• Gregor Pottmeyer, CFO of Deutsche Börse AG, commented on the results as follows: “Our Group achieved further secular growth in the second quarter. This is the result of our long-term growth strategy, which focuses in particular on product innovation, new client acquisition as well as market share gains. In addition, increased capital inflows into Europe are driving growth in many areas of the Group. Combined with notably underproportional cost growth, we also achieved strong operational economies of scale in the second quarter. We are therefore very confident about the second half of the year and confirm our forecast for the full year despite declining equity market volatility."

The analyst and investor conference call will take place on Friday, July 25, 2025 at 14:00 CEST. You can register for the audio stream here.

Media contact:
Ingrid M. Haas
+49 69 21113217
media-relations@deutsche-boerse.com

Patrick Kalbhenn
+49 69 21114730
media-relations@deutsche-boerse.com