Deutsche Boerse Q4 profit up 13%, in line with expectations

FRANKFURT (Reuters) -German exchange operator Deutsche Boerse on Wednesday reported a 13% rise in fourth-quarter net profit in line with expectations, and forecast "significant" increases in revenue and profit for 2024.

Higher interest rates from central banks around the world have generated interest income for Deutsche Boerse, lifting revenues and profits.

Net profit attributable to shareholders was 407 million euros ($438.14 million) in the quarter, up from 359 million euros a year ago, the company said. Analysts had expected a profit increase of 13%.

Deutsche Boerse, which raised its proposed divided by 20 cents to 3.80 euros, said that the purchase of Danish investment management software company SimCorp had also contributed to revenue.

The company sees 2024 revenue rising to more than 5.6 billion euros, up from 5.1 billion in 2023.

Earnings before interest, taxes, depreciation and amortisation are forecast to rise to more than 3.2 billion euros in 2024, up from 2.9 billion euros in 2023.

($1 = 0.9289 euros)

(Reporting by Tom Sims and Frank SiebeltEditing by Chris Reese and Jane Merriman)