Status: 20.10.2021 11:30 a.m.
Deutsche Börse barely made any money from stock trading in the past quarter. In contrast, the turbulence on the electricity market at the Frankfurt stock exchange operator resulted in a strong profit increase.
Deutsche Börse is profiting from the recently significant rise in energy prices – thanks to the Leipzig power exchange EEX (European Energy Exchange), on which the Frankfurt exchange operator holds the majority. The price explosion for electricity and gas brought the electricity exchange a high trading volume in the months of July to the end of September.
Sales also grew thanks to takeovers
The booming business with electricity and gas products compensated for the stagnating business in share trading. Deutsche Börse’s operating result increased by a quarter to almost 500 million euros in the third quarter. The stock exchange operator announced this on Tuesday evening. The bottom line was that Deutsche Börse earned over 300 million euros. That is 32 percent more than in the same period last year.
The turnover climbed in the last three months by 18 percent to 838 million euros. In addition to the volatile electricity business, takeovers also contributed to this double-digit growth.
Wholesale electricity prices more than doubled
The Leipzig power exchange EEX, which belongs to the group, increased its revenues by 17 percent. The operating result increased by a quarter to 35 million euros. Wholesale electricity prices on the electricity exchange have more than doubled since March 2020. Gas in particular has become more expensive. The prices for CO2 certificates that are traded in Leipzig have also increased significantly.
Households are heavily burdened
The massive rise in wholesale prices for electricity and gas is increasingly affecting private households. Several utilities have announced price increases or have already implemented them. Experts expect a wave of price increases this winter.
Often the suppliers are secured in advance via futures markets, so that the price increase only takes effect later. However, some providers, especially independent low-cost providers, had bet on falling prices. They got caught off guard – and now have to buy at significantly higher prices on the spot markets. The first gas suppliers had to file for bankruptcy as a result.