February 17, 2020 / 6:29 PM / a month ago

Deutsche Boerse posts 52% rise in fourth-quarter net profit

FILE PHOTO: A general view shows the German stock exchange (Deutsche Boerse) in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach

MUNICH (Reuters) - Deutsche Boerse (DB1Gn.DE) on Monday said it posted a 52% rise in fourth-quarter net profit, as the German exchange operator met its financial targets for the year.

Consolidated net profit was 213.2 million euros (177.52 million pounds), compared with 140 million euros in the year-earlier period, the company said.

The result for the three months fell short of analysts expectations as lower equity market volatility hit revenue at the company’s Eurex derivatives unit.

Deutsche Boerse reported earnings per share of 1.16 euros in the quarter, up from 77 cents a year ago but below a consensus forecast of 1.18 euros.

Theodor Weimer, who took over as chief executive at the start of 2018, will present his strategy for the next three years when he briefs investors in May.

Weimer, who will hold a press conference on Tuesday on the results, last week had his contract extended by the supervisory board for another four years.

Reporting by Tom Sims; Editing by Mike Harrison

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