Leipzig, 10 August 2016 – During the first half of 2016, the EEX Group continued its growth course, significantly increasing both its sales and result in comparison to the first half of 2015.
Sales revenue and result (EEX Group)
The EEX Group sales revenue rose by 34% to a total of EUR 117.5 million (1st half of 2015: EUR 87.8 million). Iris Weidinger, Chief Financial Officer of EEX, comments: “We have generated growth in almost all fields of business. The significant volume increase on the Power Derivatives Market in particular has contributed to this positive development. In addition, economies of scale have had a positive effect on profits on this market. These economies of scale are due to the fact that our existing infrastructure can also cover bigger volumes without any additional investments.” In the first half of the year, earnings before taxes (EBT) were EUR 45.8 million as against EUR 79.7 million during the reference period in 2015. However, after adjustment for special effects from the full consolidation of EPEX SPOT in 2015, the operating result has grown by 53% (1st half of 2015: EUR 29.9 million).
Power Derivatives Market (EEX)
The Power Derivatives Market accounted for the biggest contribution to revenue in the first half of the year. Transaction revenue in this segment rose by 58% to EUR 44.7 million in the first half of 2016 (1st half of 2015: EUR 28.2 million) with the sales contributions of the biggest
markets – Germany (EUR 30.4 million, + 47%), Italy (EUR 6.6 million, + 64%), France (EUR 5.6 million, + 83%) and Spain (EUR 0.8 million, + 428%) – growing significantly.
Power Spot Market (EPEX SPOT)
The transaction revenue generated on the Power Spot Markets in the first half of 2016 was EUR 33.5 million as against EUR 29.3 million in the previous year rising by 14%. This increase is due, in particular, to the integration of the new market areas comprising the Netherlands, Belgium and the United Kingdom, which were transferred to EPEX SPOT in May 2015 following the APX takeover.
Natural Gas (PEGAS)
The transaction fees generated in the Natural Gas division rose by 68% to EUR 16.9 million compared with the same period in 2015 (EUR 10.0 million). With a growth rate of 132%, the Derivatives Market, in particular, contributed to this increase with revenue on the Spot Market growing by 44%. The highest sales contribution was achieved in the Dutch TTF gas futures (EUR 5.0 million).
Emission Allowances (EEX)
The transaction revenue in the Emission Allowances business field rose to EUR 1.1 million from EUR 0.7 million generated during the same period in 2015. While transaction revenue rose by 15% on the primary market, EEX was able to increase revenues on the secondary
market considerably, by a total of 444%. In July, EEX was awarded the contract for the execution of the Europe-wide primary market auction on behalf of 25 EU member states for up to a further five years, which strengthens the EEX position in CO2 trading.
Agriculturals (EEX) and Global Commodities (CLTX)
In the first half of the year, the Agriculturals business field contributed EUR 0.1 million to revenue. The transaction revenue in the Global Commodities business field, which comprises the freight, iron ore, fuel oil and fertiliser markets of Cleartrade Exchange (CLTX), amounted to EUR 0.6 million as against EUR 0.5 million generated in the previous year.
Clearing Cooperations (ECC)
In the first half of 2016, the revenue generated from clearing cooperations of the European Commodity Clearing (ECC) remained stable at EUR 0.9 million. This business field comprises clearing for all partner exchanges that are not fully consolidated within EEX Group. Since January 2016, the Gaspoint Nordic clearing revenue has been included in the Natural Gas segment. Furthermore, as of June 2016, the Czech Power Exchange Central Europe (PXE) became part of EEX Group. As a result, the revenue from clearing cooperation now includes the contributions of HUPX, the CEGH Gas Exchange of the Vienna stock exchange as well as of NOREXECO.
Info-Products and other revenue
Within the Info-Products segment, sales revenue rose to EUR 2.2 million in the first half of the year (1st half of 2015: EUR 1.4 million), which corresponds to a 57% increase. Other revenue rose to EUR 17.5 million (1st half of 2015: EUR 16.7 million). This revenue segment includes for example, annual fees, fixed fees for technical connections and Market Coupling.
Outlook
In the second half of the year, EEX Group will focus on the expansion of the offering for trading in natural gas. In addition to the existing products, the Danish gas contracts, which are operated by Gaspoint Nordic, and the Austrian gas contracts, which are currently operated on the Central European Gas Hub, will become part of the PEGAS platform. Peter Reitz, CEO of EEX, explains: “In addition to expanding our business in our core markets and the development of new business fields, the expansion of the geographic reach forms an important component of our further development. As a result, we are able to offer our customers access to the most important markets on one platform. We are confident that this strategy will enable us to continue to grow in the second half of the year.”
EEX Group provides the central market platform for energy and commodity products and enables access to a network of about 450 trading participants. The offering of the group comprises contracts for Energy, Environmentals, Freight, Metals and Agriculturals listed at the European Energy Exchange, EPEX SPOT, Powernext, Cleartrade Exchange, Gaspoint Nordic and Power Exchange Central Europe (PXE). Clearing and settlement of transactions concluded or registered on the exchanges is provided by the central clearing house European Commodity Clearing. EEX Group is part of Deutsche Börse Group. For more information: www.eex.com
Contact:
European Energy Exchange AG
Public Relations
Phone: +49 341 21 56 – 300 (Leipzig)
Phone: +44 20 7862 7568 (London)
E-Mail: presse@eex.com
www.eex.com
Augustusplatz 9 | 04109 Leipzig (Germany)