Q2/2026: Broad-Based Secular Growth and Operating Leverage in the Second Quarter

Deutsche Börse Group has just published its financial results for Q2 and the first half of 2026. Please scroll down for the link to the entire report.

Overview of the results:

• Our net revenue without treasury result rose by 9 percent to €1,412 million in the second quarter of 2026 due to structural growth, despite the normalization of the market environment and a strong prior-year quarter.
• Including the treasury result of €205 million, net revenue totaled €1,617 million, representing a 7 percent increase. This underscores the stabilization of the treasury result.
• Our EBITDA (earnings before interest, taxes, depreciation, and amortization) without treasury result rose by 13 percent to €775 million. Including treasury result, EBITDA rose by 10 percent to €980 million.
• Net profit for the period attributable to our shareholders was €569 million, up 12 percent from the same quarter of the previous year. Earnings per share before purchase price allocation effects amounted to €3.33.
• Our share buyback program was completed on June 26, 2026. As announced, shares with a value of around €500 million were purchased.
• We confirm our forecast for net revenue without treasury result of around €5.7 billion, and our forecast for EBITDA without treasury result of around €3.1 billion.
• Due to the changed global interest rate outlook and higher cash balances, we now expect the treasury result to exceed €0.7 billion for the full year 2026. Including the treasury result, we anticipate net revenue of more than €6.4 billion and EBITDA of more than €3.8 billion.
• Jens Schulte, Chief Financial Officer of Deutsche Börse AG, commented on the results as follows: “In the second quarter, our Group once again demonstrated its structural growth potential. While trading volumes normalized in some areas as expected following the volatile month of March, we recorded revenue growth in six of our eight business units, in some cases at a significant rate. With a disproportionately high increase in EBITDA, we are also demonstrating the high level of operating leverage we are targeting. Our profitability gives us the financial flexibility to combine strategic milestones such as the planned Allfunds acquisition with attractive distributions. Due to the changed interest rate environment and increased cash balances, the treasury result is performing better than originally expected. We are therefore raising our outlook for the full year 2026 and now expect a treasury result of more than €0.7 billion and total net revenue of more than €6.4 billion.”

The analyst and investor conference call will take place on Thursday, July 23 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