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Deutsche Börse raises dividend as FY'17 profit ticks up YOY

Deutsche Börse AG reported preliminary consolidated net income of €213.6 million in the fourth quarter of 2017, up from € 170.0 million in the year-ago period.

Nonrecurring effects for the period totaled €21.7 million, compared to €38.7 million a year earlier. The figure largely comprised costs for the integration of subsidiaries, litigation costs, as well as restructuring charges. Adjusted for nonrecurring effects, preliminary net income for the quarter came in at €194.0 million, compared to the year-ago €180.3 million.

Basic EPS for the quarter was €1.15, compared to 91 cents a year earlier.

Net revenue reached €639.0 million for the period, up from the year-ago €619.0 million, with net interest income from banking business increasing to €37.1 million from €22.0 million.

The result from equity investments amounted to €74.4 million, up from €37.5 million in the fourth quarter of 2016, which largely reflects the sale of shares in ICE US Holding Company L.P. Adjusted for this nonrecurring effect, the result from equity investments amounted to about €900,000, compared to some €200,000 a year earlier.

For full year 2017, Deutsche Börse reported preliminary consolidated net income of €874.3 million, up from €722.1 million in 2016. Adjusted for nonrecurring effects, preliminary net income for 2017 was €857.1 million, compared to the year-ago €810.8 million.

CFO Gregor Pottmeyer said that, despite not having achieve its growth targets for 2017 due to negative cyclical effects, the company was able to increase net revenue from structural growth initiatives by 5% as planned. Net revenue for the year came in at €2.46 billion, up from €2.39 billion a year earlier.

Looking ahead, CEO Theodor Weimer said Deutsche Börse aims for further structural net revenue growth of at least 5% for 2018 and a net income growth of at least 10%.

The company's executive board proposed a dividend for 2017 of €2.45 per share, up 4% from €2.35 per share in 2016 and equivalent to a distribution ratio of 53% of the adjusted net income.