Deutsche Boerse, a German exchange operator, reported that its third quarter’s operating profit is more than doubled the profit last year. The increase in Deutsche Boerse’s operating profit was due to the increase of their trading activity. Another factor to its amazing operating profit was the absence of any legal expense. It can be remembered that last year, legal expenses were definitely a pain for the Deutsche Boerse.
The quarterly earnings before interest and tax (EBIT) of Deutsche Boerse amounted to a whooping 232.5 million euro or $295 million. It is much higher than the average expectation of 219 million euro. It is also higher by 101 million euro compared to last year’s third quarter earnings before interest and tax.
According to Gregor Pottmeyer, who is the Chief Financial Officer of the Deutsche Boerse, the trading activity on the market of the group went up significantly during the third quarter of the year. This resulted to better earnings. Thus, making their financial report for the quarter ended September 2014 a lot better than expected.
Contrary to the results for this year’s third quarter, last year’s third quarter was a nightmare for deutsche Boerse considering the fact that they faced legal expenses that pulled them down.