Deutsche Börse reported Q1 2026 EBITDA of €1,007 million, up 10% YoY and 2% above consensus.
Net revenue rose 9% to €1,638 million (12% to €1,434 million ex‑treasury), with most divisions beating forecasts.
Operating costs were 1% higher than expected, including €13 million exceptional expense from the Allfunds acquisition.
Management reaffirmed 2026 guidance, upgrading net interest income outlook to exceed €700 million; Allfunds deal slated for H2 2027.