DBOEY - Deutsche Börse AG (DBOEY) Q4 2024 Earnings Call Transcript
2025-02-12 19:27:02 ET
Deutsche Börse AG (DBOEY)
Q4 2024 Results Conference Call
February 12, 2025 04:00 AM ET
Company Participants
Jan Strecker - Director, Investor Relations
Stephan Leithner - Chief Executive Officer & Chairman of the Executive Board
Gregor Pottmeyer - Chief Financial Officer
Conference Call Participants
Arnaud Giblat - BNP Paribas Exane
Johannes Thormann - HSBC
Enrico Bolzoni - JPMorgan
Bruce Hamilton - Morgan Stanley
Benjamin Goy - Deutsche Bank
Andrew Coombs - Citi
Hubert Lam - Bank of America
Tobias Lukesch - Kepler Cheuvreux
Oliver Carruthers - Goldman Sachs
Ian White - Autonomous Research
Benjamin Bathurst - RBC
Roland Pfander - ODDO BHF
Michael Werner - UBS
Presentation
Operator
Good afternoon, ladies and gentlemen, and welcome to the Deutsche Börse AG Analyst and Investor Conference Call regarding the Q4 and Full Year 2024 preliminary financial results. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions following the presentation.
Let me now turn the floor over to Jan Strecker.
Jan Strecker
Welcome, ladies and gentlemen, and thank you for joining us today to go through our preliminary fourth quarter and full year 2024 financial results. With me are Stephan Leithner, CEO; and Gregor Pottmeyer, CFO. Stephan and Gregor will take you through the presentation today. And afterwards, we will be happy to take your questions. Link to the presentation materials has been sent out via e-mail and they can also be downloaded from the IR section of our website. As usual, this conference call is recorded and will be available for replay. Let me now hand over to you, Stephan.
Stephan Leithner
Thank you, Jan. Welcome, ladies and gentlemen. Great to reconnect. Let me start today's call with an overview of the progress we have made in executing our strategy as well as our financial targets and capital allocation priorities for 2025. As part of our Horizon 2026 strategy, we are further strengthening our position as a leading global market infrastructure provider based on 4 key pillars, as we have always described to you in our recent calls. The first pillar is our strong organic growth trajectory of recent years that has significant further potential.
The secular industry trends to support our strategy remain fully intact, and we are well on track to achieve our targets. As we announced during our third quarter earnings call in October, we are now focusing on net revenue without treasury results as our key steering metric. This will make our underlying operating performance more transparent to you and provide targeted incentives for further growth. In 2024, net revenues without treasury result increased by 8% organically, and we're also targeting a growth rate of 8% over the next 2 years. Growth drivers going forward include further momentum from the fixed income road map in financial derivatives, the revenue synergy momentum in Investment Management Solutions. And finally, continued double-digit growth in fund services, commodities and increasingly the new FX digital complex.
The second pillar of the strategy is to address the growing importance of the buy side for our organization. We are still very focused on getting full momentum and further developing our new Investment Management Solutions segment. This includes the combined ISS stock business and our software platform, SimCorp with the integrated Axioma analytics offering. We have completed all integration efforts in the IMS segment and achieved the run rate cost synergies of EUR 55 million by year-end last year, as we had told you and as we had planned....
Deutsche Börse AG (DBOEY) Q4 2024 Earnings Call Transcript