EEX bourse saw 16% revenue growth in 2024 as power volumes grew
With 80 new participants joining last year, there are now 950 members active in power, gas, environmental products, freight and agriculture, as well as related clearing services on the EEX.
Last year's revenue grew to 669.9 million euros ($760 million) from 575.6 million euros in 2023, said EEX, which grew out of a Germany-based electricity bourse founded 25 years ago and is a part of Deutsche Boerse (DB1Gn.DE), opens new tab. Adjusted net income rose 15% to 241.9 million euros.
"It's inspiring to see the continued significant volume growth across our markets," EEX CEO Peter Reitz said. "This year, we will expand our position as the leading global power trading platform."
Revenue from European power derivatives in 2024 rose 58% to 194.0 million euros, while spot power market revenue was up 18% at 102.2 million euros, the EEX reported.
Revenue from U.S. commodities was up 4% at 41.3 million, and from natural gas derivatives in Europe by 5% at 30.7 million euros.
In the first quarter of this year, the EEX expanded European power futures trading volumes by 29%, those of European spot power by 10%, and spot gas by 19%, it said.
The EEX introduced new products in 2024 including Nordic zonal power futures and Spanish Monday-through-Sunday solar peak futures.
Separately on Monday, it announced it will launch new futures contracts for the EU Emissions Trading System 2 (EU ETS2) on July 7, subject to regulatory approval.
Reitz also said he is observing a continued shift from over-the-counter trading to cleared exchange markets, especially in the European core power markets, where EEX holds market shares of 80-90%.
($1 = 0.8814 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
24 minutes ago
- Reuters
China factory activity shrinks for fourth month in July, PMI shows
BEIJING, July 31 (Reuters) - China's manufacturing activity shrank for a fourth month in July, an official survey showed on Thursday, suggesting that a surge in exports ahead of higher U.S. tariffs has started to fade while domestic demand remains sluggish. The official purchasing managers' index (PMI) dropped to 49.3 in July versus 49.7 in June, below the 50-mark separating growth from contraction, and missed a median forecast of 49.7 in a Reuters poll. The reading was the lowest since April.
Reuters
24 minutes ago
- Reuters
China's JD.com to buy Germany's Ceconomy in deal valuing it at $2.5 billion
DUESSELDORF, Germany, July 30 (Reuters) - ( opens new tab is acquiring Germany's Ceconomy ( opens new tab in a deal that values the electronics retailer at 2.2 billion euros ($2.5 billion), allowing one of China's largest online retailers to expand outside of its home market. Ceconomy's MediaMarkt and Saturn brands will give which competes with Alibaba ( opens new tab and Amazon (AMZN.O), opens new tab, access to one of the largest online shops for electronic goods in Europe and a network of about 1,000 stores in several European countries. About 50,000 people work at the two chains. The deal, announced on Wednesday, values Ceconomy at 4.60 euros a share and CEO Kai-Ulrich Deissner told Reuters it would likely be completed in the first half of next year. "It's exactly the right partner at the right time," Deissner said. "Through the partnership, we have access to technologies, world-leading retail expertise, and supply chains that are unparalleled worldwide." Ceconomy's management board and supervisory board will recommend accepting the offer to shareholders, it said in a statement. Its Duesseldorf headquarters would remain, it said. "We will work with the team to strengthen the capabilities, while applying our advanced technology capabilities to accelerate Ceconomy's ongoing transformation," said Sandy Xu, CEO of in a statement. "Our goal is to further grow Ceconomy's platform across Europe and create long-term value for customers, employees, investors and local communities." The Kellerhals family, the largest single shareholder of Ceconomy with just under 30% of the shares, has accepted an offer for 3.81% of its shares and intends to remain an investor with a stake of approximately 25.35%. Shareholders Haniel, Beisheim, BC Equities, and Freenet ( opens new tab, which together control approximately 27.9% of the shares, intend to sell their shares to "There will be no compulsory redundancies for three years following the closing of the transaction," Deissner said, adding that he does not anticipate any major problems from antitrust authorities. Europe is emerging as a hotspot for Chinese deals and investments and the region is expected to attract more money from China driven by U.S. President Donald Trump's tariff war, said advisers. Deals into Europe more than doubled to $8.45 billion in 2024, the highest since 2021, and made up more than a third of all China outbound M&A, according to LSEG data, despite increased scrutiny of foreign investments into the region. "There's potentially more of an incentive for China and the EU to work closer together on the economic front, in view of the trade policies of the Trump administration," said Alan Wang, a global transactions partner at law firm Freshfields. Ceconomy plans to keep its 23.4% stake in French retailer Fnac Darty ( opens new tab after the deal, Deissner said. "The stake in Fnac Darty will remain. We view it as a long-term strategic option, which we are committed to," he said. Ceconomy last week confirmed it was in advanced negotiations over a potential takeover. Ceconomy had annual sales of 22.4 billion euros in its 2023/24 financial year, of which 5.1 billion euros were online. had looked at an acquisition of British electronics retailer Currys (CURY.L), opens new tab last year. Fitch Ratings said on Wednesday the takeover could bolster Ceconomy's credit profile. "A takeover by JD may lead to an upgrade of Ceconomy's rating, benefitting from JD's stronger credit profile, given the latter's market position as one of the largest global e-commerce platforms with $160 billion revenue providing services across retail, technology, logistics, and healthcare sectors," it said. "We believe that the acquisition of Ceconomy would boost JD's presence in Europe through the former's over 1,000 stores under MediaMarkt and Saturn brands, and its online presence (24% of sales)," it added.
Powys County Times
2 hours ago
- Powys County Times
Meta stock surges after Q2 results beat expectations despite heavy AI spending
Meta has posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased. Shares in the Facebook owner surged more than 9% after-hours as a result. The California-based company earned 18.34 billion dollars in the April-June period. That is up 36% from 13.47 billion dollars in the same period a year earlier. Revenue jumped 22% to 47.52 billion dollars from 39.07 billion dollars. Meta said it expects costs to increase as it spends billions on infrastructure and luring highly compensated employees as it works on its artificial intelligence ambitions. It is forecasting 2025 expenses to be in the range of 114 billion dollars to 118 billion dollars, up 20% to 24% year-over-year.
