Slides
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Preliminary Results 2024 & Strategic Priorities 25 February2025
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Disclaimer Preliminary FY 2024 – Unaudited Results This release contains unaudited information that is subject to change and that is not intended to be complete. Non-IFRS measures (APMs) This presentation includes non-IFRS measures. These measures are alternative performance measures as defined by the European Securities and Markets Authority ("ESMA"). flatexDEGIRO presents these non-IFRS measures as (i) they are used by its management to measure performance, including in presentations to the Management Board and Supervisory Board members and as a basis for strategic planning and forecasting; and (ii) they represent measures that flatexDEGIRO believes are widely used by certain investors, securities analysts and other parties as supplemental measures of operating and financial performance. These non-IFRS measures may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should not be considered as a substitute for analysis of flatexDEGIRO's operating results as reported under IFRS. Non-IFRS measures are not a measurement of flatexDEGIRO's performance or liquidity under IFRS and should not be considered as alternatives to consolidated net profit or any other performance measure derived in accordance with IFRS or other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities. Forward-lookingstatements This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by flatexDEGIRO AG may substantially differ from these forward-looking statements. flatexDEGIRO assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated. Preliminary Results 2024
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Today’s presenter Oliver Behrens Chief Executive Officer Dr. Benon Janos Chief Financial Officer
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Today’s agenda 1 Preliminary Results 2024 2 Outlook 2025 3 Strategic Priorities 4 Mid-Term Guidance
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Preliminary Results 2024
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Focus back on business and customers, launch of crypto trading in Germany Ambition 2027: Revenues of ~ 650 m EUR and Net Income of ~ 200 m EUR Strategic priorities on growth, new products & diversification and an efficient organization Record year 2024 with Revenues and Net Income above Guidance Highlights Preliminary Results 2024 6
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Customer Growth
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Strong customer growth continued 0 10 20 30 40 50 60 70 80 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2023 2024 462 341 421 0 50 1 00 150 200 250 3 00 350 400 450 500 H1 H2 FY 2022 2023 2024 Monthly Customer additions (k) Annual Customer additions (k) Monthly customer growth 2024 constantly above 2023 with significant acceleration in Q4 2024 Full-year growth of 421 k (+24 %) close to 2022-level, customer acquisition costs of 75 Euro (reduction of 24 % vs. 2023) Preliminary Results 2024 8
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Customer base of over 3 million reached Customer accounts (m) 0 1 2 3 Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 flatex DEGIRO +14%+13%+16% Preliminary Results 2024 Customer base grown by 1 m over the last 3 years with annual growth rates between 13 % and 16 % Share of flatex customers stable at 25 % in 2023 and 2024 9
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Industry-leading customer growth Leading customer growth over the last 3 years with CAGR of 14 % Stronger growth only observed at one non-listed peer with currently strong pivot from neo-brokerage towards neo- banking Customer growth CAGR of listed peers (Dec 2021- Dec 2024) Absolut customer growth of listed peers 2022-2024 (k) Preliminary Results 2024 * Hargreaves Lansdown and Swissquote : growth in 2024 extrapolated based on last published numbers 10 14% -10% -5% 0% 5% 10% 15% 1,010 -20 0 - 200 400 600 800 1,000
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Stable share of active customers on a growing basis Largest active customer base with close to 1 m customers trading in Q4/2024 Share of active customers (per quarter) slightly up in 2024 to > 30 %, with relative stable development over the last 2.5 years Active Customers (at least 1 trade per quarter) 39% 29% 28% 31% 0% 5% 1 0% 15% 20% 25% 3 0% 35% 40% 45% 0 250,000 500,000 750,000 1,000,000 Q1/22 Q2 /22 Q3/22 Q4/22 Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 Active customers (left) Share active customers (right) 859k Preliminary Results 2024 705k 761k 951k 11
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Commission Income
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Stabilized trading activity per customer Range of 20-25 trades per customer p.a. on average stable for the last 2.5 years Trading activity higher at flatex, with very similar trends at both brands Quarterly trading activity (average number of trades per customer, annualized) Annual trading activity 0 10 20 30 40 50 60 Q1/22 Q2 /22 Q3/22 Q4/22 Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 flatexDEGIRO flatex DEGIRO 30 22 22 0 5 10 15 20 25 30 35 2022 2023 2024 Preliminary Results 2024 13
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Number of Settled Transactions increased at both brands Growing customer base drives increase in Settled Transactions (+11 %) Outperformance over 2023 accelerated especially in the second-half of 2024 Settled Transactions per quarter (m) Settled Transactions per year (m) 0 5 10 15 20 25 Q1/22 Q2 /22 Q3/22 Q4/22 Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 flatex DEGIRO 67 57 63 0 10 20 30 40 50 60 70 80 2022 2023 2024 Preliminary Results 2024 14
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Average commission per transaction further improved Increase in 2024 (+8 %) driven by price adjustments in May 2023, positive product mix and higher share of US trades First quarter usually with higher commission per transaction due to booking of annual fees Average commission per transaction (EUR) per quarter Average commission per transaction (EUR) 3 .50 3 .75 4.00 4.25 4.50 4.75 Q1/22 Q2 /22 Q3/22 Q4/22 Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 4.06 4.13 4.47 3 .50 3 .75 4.00 4.25 4.50 4.75 2022 2023 2024 Preliminary Results 2024 15
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2024 Summary: Development Commission Income Commission Income (m EUR) +14 % Customer Growth Stable Active customer rates at ~ 30% per quarter Stable Transaction activity at ~22x +8 % Average commission per transaction +20 % Growth in Commission Income 272 235 282 150 170 190 210 230 250 270 290 2022 2023 2024 Preliminary Results 2024 16
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Interest Income
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Ja n 24 Mar 24 May 24 Jul 24 S ep 2 4Nov 24 Constant new Net Cash Inflows on our platform Total Net Cash Inflows in 2024 of 6.6 bn EUR (+47 % vs 2023), with 95 % being invested in securities (91 % in 2023) Cash per customer increased in 2024 with falling interest rates, leading to 17 % increase in Cash under Custody at year-end Net Cash Inflows per month (m EUR) Cash per Customer vs ECB deposit rate Customer Cash under Custody (bn EUR) 500 m EUR -1.0 % -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% - 200 400 600 800 1,000 1 ,200 1 ,400 1 ,600 1 ,800 Dec 21 Jun 22 Dec 22 Jun 23 Dec 23 Jun 24 Dec 24 Average Cash under Custody per customer (left) ECB Dep osi t ra te (right) 3.25 3.64 4.27 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 2022 2023 2024 Preliminary Results 2024 18
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Underlying basis of Interest Income with solid growth Cash under Custody has grown over the last 3 years by more than 1 bn EUR (37%) from 3 bn EUR to > 4 bn EUR Margin Loan Book has benefitted from customer growth and additional access of DEGIRO customers Cash under Custody (bn EUR) Margin Loan Book (bn EUR) 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 0.00 0.20 0.40 0.60 0. 80 1.00 1.20 1.40 Preliminary Results 2024 19
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2024 Summary: Development Interest Income Interest Income (m EUR) +17% Cash under Custody +9% Average ECB deposit rate +31% Margin Loan Book +18 % Average Margin Loan rate +32 % Growth in Interest Income 72 136 180 0 20 40 60 80 100 120 140 160 180 200 2022 2023 2024 Preliminary Results 2024 20
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Revenues
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Solid Revenue growth Revenue growth of 23 % to 480 m EUR, surpassing previous record of the Covid-/Meme-Stock-Year 2021 (415 m EUR) by 15% Share of Interest Income increased from 35 % in 2023 to 38 % in 2024 Revenue split (m EUR) per quarter Revenue split (m EUR) 0 20 40 60 80 1 00 120 140 Q1/22 Q2 /22 Q3/22 Q4/22 Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 Other Commission Income Interest Income 407* 391 480 0 1 00 200 3 00 400 500 600 2022 2023 2024 Other Commission Income Interest Income * Other Operating Income in 2022 included 38 m EUR from reversal of provisions for long-term variable compensation Preliminary Results 2024 22
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Costs & Earnings
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Operating Expenses elevated in 2024 Personnel expenses include ~ 5 m EUR of provisions for measures in 2025 and ~ 7 m EUR for long-term variable compensation Admin expense increase driven by higher need for third-party fees (e.g. consulting, advisory, legal) Personnel expenses (m EUR) Marketing (m EUR) Admin expenses (m EUR) 68 97 116 0 20 40 60 80 1 00 120 2022 2023 2024 H1 H2 FY 49 34 32 0 20 40 60 80 1 00 120 2022 2023 2024 H1 H2 FY 41 49 61 0 20 40 60 80 1 00 120 2022 2023 2024 H1 H2 FY Preliminary Results 2024 24
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EBITDA across 2024 at a constant high level EBITDA margin in all quarters 2024 between 40-45 % For the first time, full-year EBITDA crossed the 200 m EUR line EBITDA (m EUR) and EBITDA margin (%) per quarter EBITDA (m EUR) and EBITDA margin (%) 0% 1 0% 20% 3 0% 40% 50% 60% 0 10 20 30 40 50 60 Q1/22* Q2/ 22*Q3/22* Q4/22* Q1/23 Q2 /23 Q3/23 Q4/23 Q1/24 Q2 /24 Q3/24 Q4/24 EBITDA EBITDA margin 183 140 202 25% 3 0% 35% 40% 45% 50% 0 50 1 00 150 200 250 2022* 2023 2024 EBITDA EBITDA margin * EBITDA in 2022 included 38 m EUR of reversal of provisions for long-term variable compensation (Other Operating Income) Preliminary Results 2024 25
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Record Net Income achieved Depreciation & Amortization in 2024 including ~2.5 m EUR from streamlining IT development activities Record Net Income of 112 m EUR achieved despite some one-time cost effects D&A, Financial Result, T ax (m EUR) Net Income (m EUR) and Net Income margin (%) 0 10 20 30 40 50 60 70 80 90 1 00 2022 2023 2024 Income Tax Financial Result Depreciation & Amortization 106 72 112 1 0% 20% 3 0% 40% 0 20 40 60 80 1 00 120 2022* 2023 2024 Net Income Net Income Margin Preliminary Results 2024 26* Net Income in 2022 included 28 m EUR of reversal of provisions for long-term variable compensation (Other Operating Income)
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Outcome 2024 Guidance
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Actual performance versus FY 2024 Guidance Revenues Net Income +5 % to +15 % Y oY +25 % to +50 % Y oY +23 % +55 % Preliminary Results 2024 28 Slightly above upper e n d o f +1 5 % YoY Upper end of +25 % to +50 % Y oY Original Guidance Revised Guidance
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Outlook 2025
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Outlook 2025 Preliminary Results 2024 Commission income to grow: • Customer growth of at least 10 % • Stable trading activity • Stable commission per trade • New products such as Crypto Revenues Net Income -5 % to +5 % Y oY (~ 455 m EUR to ~ 505 m EUR) -5 % to +10 % Y oY (~ 106 m EUR to ~ 123 m EUR) Interest income to decline: • Lower average ECB rates • Lower average Margin Loan rates • Stable average levels of Cash under Custody and slightly growing Margin Loan book Cost base to be brought down: • Personnel expenses below 2024 • Marketing stable at CAC of ~ 75 EUR • Admin expense to be reduced by up to ~ 10 m EUR 30
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Strategic Priorities
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flatexDEGIRO has reached a pivotal stage Today Challenging market environment for trading: • Uncertainty due to war in Ukraine • High inflation and rapid interest rate hikes Offset by increased interest income 2022 2023 2024 2025 2026 2027 • Working on regulatory findings required to shift focus and resources • Governance & Management changes Last 3 years Financial record-year with solid growth Improving trading environment: • Inflation normalizing • Interest rates falling • Equity markets at record highs T oday • Major BaFin findings solved, mandate of special commissioner terminated, SREP reduced • Refocusing on business and customers, launch of crypto trading in Germany • New CEO in place Re-set of interest rate environment in 2025 Increasing retail appetite for investment Next 3 years • Scaling the business, accelerating growth and activating clients • Shifting focus to enhance commercial and organizational setup • Achieve operational leverage by increasing efficiency and lowering admin expenses Preliminary Results 2024 32
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flatexDEGIRO – Europe’s leading investment platform to build wealth 33 We prioritize our customers' needs We ensure superior market access at low costs We offer local reach but global access We strive to support our communities We are dedicated to enhance financial literacy We ensure the highest security for our customers' assets Preliminary Results 2024
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Strategic priorities for the next three years Preliminary Results 2024 34 • Increase trading activity and reactivate a higher share of (currently) inactive customers • Ensure ongoing long-term growth across a more diverse set of customers • Increase local presence in key markets • Optimize use of deposits • Launch of new products/services o Crypto o Securities Lending o Savings Plans / Fractional Shares o Products tailored to lower-risk categories o Term Deposits • Strengthen “Business Process Outsourcing” activities • Increase share of recurring revenues • Realize efficiency gains and manage costs tightly • Finalize platform harmonization • Reduce complexity Unlocking potential by switching gears, focusing on commercial projects and achieving scalability on one platform Measures based on leveraging opportunities that are under our control Grow and Strengthen Existing Business Diversify Product and Service OfferingIncrease Efficiency
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Increase Efficiency
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Acquisition of DEGIRO, strong organic growth and regulatory challenges have led to increased organizational complexity. Initiated cost reductions to be stringently continued Realize efficiency gains and cost control Preliminary Results 2024 36 Operational efficiency: Catching -up to most relevant peers Revenues per Employee Net Income per Employee Peer average* EUR ~ 575,000 ~ 280,000 flatexDEGIRO EUR ~ 380,000 ~ 90,000 Delta ~ 34 % ~ 68 % *Including Avanza, Fineco, Hargreaves Lansdown, Nordnet and Swissquote ; Source: Company data and Visible Alpha • Fully closing the gap on Revenues per Employee based on increased revenues and efficient workforce • Reducing the gap on Net Income per Employee based on operating leverage, but not fully closing due to: • Higher operational complexity due to pan- European footprint • Marketing spent to foster growth across 16 markets • Less favorable taxation in Germany and the Netherlands, compared to some peers
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Simplifying organizational structure by moving to a European “SE” Ongoing divestment of non-core financial engagements Reduce complexity and increase focus Preliminary Results 2024 37 Organizational changes • Alternative portfolio mostly built during negative ECB rate environment • Ongoing divestments of these non-core activities without pressure Divesting alternative credit and investing portfolio • Adapt legal entity from German “Aktiengesellschaft ” to European “Societas Europea (SE)” • Reflect European DNA and provide future flexibility • To become effective in H2/2025 after approval of next AGM • This will not affect geographic footprint, locations, legal headquarters in Germany or listing at the Frankfurt Stock Exchange Balance sheet value of alternative credit and investing portfolio (m EUR) 0 50 1 00 150 2022 2023 2024 2025 (e) 2027 (e) Real Estate and Special Credit Portfolio Fund Investment s
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Grow and Strengthen Existing Business
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Building on a strong and growing customer base Preliminary Results 2024 Continuing to grow our customer base by a CAGR of at least 10 %, crossing 4 million by end of 2027 Better supporting trading active customers and reactivating inactive customers - 1.0 2.0 3.0 4.0 Concrete measures • Continuously improve product offering • Improve customer experience in the app • Optimizing provided market data • Enhance portfolio analysis and charting tools • Attractive offerings for young customers • Enhance tax services • Customized advertising per target audience Indicative 3-year customer growth (m) 39
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Reactivating existing customers Activity of last 10 cohorts (2015-2024) in 2024 Potential • Approx. 250,000 inactive customers have more than 1,000 Euros in assets on our platform • Each additional “1 trade per customer p.a.” would increase Revenues by approx. 1 million EUR Concrete Actions • Marketing-automatization with focus on content and education • Personalized engagement flows • Alerts and news based on existing portfolios and watchlists Activity rate slightly below 50 % in 2024, leaving significant potential with known but inactive customers New customer quality increasing in 2023 and 2024, after dilution in particular in 2021 Preliminary Results 2024 40 Size of bubble represents cohort size Year of onboarding
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Increasing local presence in key markets Largest countries by number of customers Getting closer to local markets • Offering global access on a local level requires higher market proximity in key markets • Fostering relationship with local partner and regulators • Evolving local product and service offering • Tailoring marketing to local preferences • Limited local staff representation • Highest market growth potential 2023 – 2028 in France, Italy and Spain with CAGRs of 6 % to 12 %* Top 6 countries account for ~80 % of total customer base. Next to home markets Netherlands and Germany, more countries have meanwhile reached critical size of well > 100 k customers Preliminary Results 2024 - 25 0, 000 500,000 750,000 1,000,000 Ita ly France Austria Spain Ger ma ny Netherlands 17 *Source: Oliver Wyman: „Online Securities Brokerage 2024“; https://www.oliverwyman.de/content/dam/oliver-wyman/v2-de/publications/2024/Online-Wertpapier-Brokerage-2024.pdf 41
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Optimizing use of deposits Simplified deployment of Customer Cash under Custody (bn EUR) Current Treasury strategy leaves room for more active strategy without abandoning the fundamentally risk-averse approach Limited offering of Term Deposits adds investment opportunities for customers and strengthens deposit base Preliminary Results 2024 ~ 4 ~ 1 0.2 - 0.3 > 2.5 • flatexDEGIRO uses customer cash deposits as funding for its Margin Loan business – excess liquidity is mostly kept overnight at Bundesbank • Limited future offering of Term Deposits to be used as a leverage for aligned T reasury strategy • A slightly more active T reasury strategy will contribute to Interest Income without compromising on risk assessment • Every 1 basis point improvement on overnight deposits would result in 250 k EUR in additional revenues and EBT • Customers benefit from expansion of product portfolio 42
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Diversify Product and Service Offering
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Crypto Trading – High transparency & attractive fees define new industry standard Our USP in Germany Successful launch in Germany in December 2024 to be followed by a European-wide roll-out in 2025 German offering: Fixed total cost of 0.6 % (Majors) to 0.7 % (Minors), including spread & full cost transparency Preliminary Results 2024 • Reference prices calculated as mid-point average from several liquid trading venues • Fixed spreads up to significant volumes exceeding average retail order size • Fixed low total costs of 0.6 % for Majors, such as Bitcoin, and 0.7 % for Minors • All-in-fee comprises: commission (0.5%), spread and custody; no additional costs • Already fully compliant with MiCAR requirements -only such offering in Germany 44
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flatexDEGIRO’s brokerage platforms serve as the single interface to customers Specialized partners ensure highest quality standards and minimize risk & time to market Crypto Trading – Teaming up with partners to provide best-in-class solutions Preliminary Results 2024 20 most relevant coins Seamlessly integrated in flatex app 3 integrated partners Liquidity Provider Order Routing Custody 45
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Roll-out of crypto trading to flatex Austria and across Europe via DEGIRO in 2025 Passporting using MiCAR license from BaFin (application submitted) Crypto Trading – Expanding local reach and range of products Preliminary Results 2024 flatex Germany Austria DEGIRO Further markets Product portfolio Existing offering with 20 coins Jun 25Dec 24 Dec 25 46 Expansion of product portfolio Netherlands, France and Spain
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Valuable enhancement to our product offering, enabling the generation of additional income for our customers and us European retail asset portfolio highly interesting for institutional lending desks 31.5 0 5 10 15 20 25 30 35 Dec 21 Jun 22 Dec 22 Jun 23 Dec 23 Jun 24 Dec 24 Unlocking recurring revenue potential via Securities Lending DEGIRO Assets under Custody (bn EUR) Preliminary Results 2024 47 Asset Scope Stocks and ETFs at DEGIRO Relevant Portfolio Around 20-30% of DEGIRO’s total Assets under Custody 54% 34% 12% Stocks ETF Other Product Split DEGIRO Assets under Custody
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Enhancing Saving Plans offering to ensure state-of-the-art product choice Increasing needto address the pension gap across Europe • Addition of stock saving plans (fractional shares) • Increasing flexibility of system allowing for shorter intervals / higher number of execution days • Introduction of products tailored to lower- risk categories Saving Plans and Fractional Shares – preparing for pension reforms Preliminary Results 2024 48 Enhancing Savings Plans in Germany German pension reforms • General need in Europe, especially in Germany • Long-term attractiveness of online brokerage platforms driven by growing interest in capital markets and expected retail stickiness • Mid-term impact depending on speed of implementation and specific design of state subsidies and permitted products
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Business Process Outsourcing – full-service offering seamlessly integrated as white-label solution into partner bank's market presence Retail Investor • Overnight deposits • Term deposits Non-retail bank • Outsourcing Management Online Banking IT-System Infrastructure IT-Governance Book-keeping Support of Regulatory Reporting Marketing Service Desk Payments Tax Processing Customer Onboarding Account Management Internal Audit Client Service & KPI Agent Support Deposit contract Outsourcing contract 49 Proven track record since 2013 Preliminary Results 2024
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0 1 2 3 4 5 6 7 8 2020 2021 2022 2023 2024 Business Process Outsourcing – offering “Deposits as a Service” in an attractive market Preliminary Results 2024 Positive interest rate environment and regulatory changes create an attractive market opportunity Leveraging existing B2B business to diversify business model and increase share of recurring revenues 50 AuC development BPO (bn EUR)Building on a tried and tested ancillary business • Proven track record as Business Process Outsourcing provider for investments platforms with currently two clients using flatexDEGIRO’s white label banking solutions to originate deposits • Demand for deposits to diversify funding sources is growing in the banking industry • Opportunity to create meaningful AuC- based recurring revenues, priced at basis points, without own capital requirements
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Mid-term Guidance
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Ambition for 2027 Preliminary Results 2024 Accelerate topline growth: • Constantly increase customer base and gradually improve trading activity • Brokerage: Crypto, Securities Lending, saving plans enhancements • Non-Brokerage: Business Process Outsourcing (“Deposits as a Service”) Deliver operational leverage: • Increase share of recurring revenues • Maintain initiated cost discipline • Bring organizational efficiency to peer level • Harmonize IT platform to reduce complexity, costs and time to market Close valuation gap to peers: • Deliver on commercial and financial goals • Be prepared to take advantage of M&A opportunities should they arise • Further improve key elements of good corporate governance 52 Revenues 2027(e) ~ 650 m EUR (+35 % versus 2024); 3-year-CAGR of ~ 10% Net Income 2027(e) ~ 200 m EUR (+78 % versus 2024); 3-year-CAGR of ~20 %
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flatexDEGIRO – Europe’s leading investment platform to build wealth 53 Preliminary Results 2024
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Q&A Session
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Investor Relations Contact flatexDEGIRO AG Address: Omniturm, Große Gallusstraße 16-18, 60312 Frankfurt/Main, Germany Laura Hecker Director Investor Relations Mail: laura.hecker@flatexdegiro.com Mobile: +49 160 3064 404 Achim Schreck Head of IR and Corporate Communications Mail: achim.schreck@flatexdegiro.com Mobile: +49 160 9277 4570
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Appendix
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Q4 2024 Performance
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Commercial Performance Preliminary Results 2024 58 +60% 77 121 85 92 124 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 13.5 16.1 15.2 14.8 16.8 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 +34% +38% +11% +25% +13% 51.7 58.0 61.1 64.6 71.5 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 Gross customer additions (k) Assets under Custody (bn EUR) Settled Transactions (m)
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Development of Assets under Custody Preliminary Results 2024 59 48.1 54.4 57.6 60.9 67.2 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 3.6 3.6 3.6 3.7 4.3 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 +10% +40% +17% +14% Note: Rounding differences may occur. Securities (bn EUR) Cash (bn EUR)
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Net Cash Inflows of EUR 6.6 bn in FY 2024 (+47% Y oY) Preliminary Results 2024 60 • Our clients continue to deploy cash onto our platform. We saw positive net cash inflows of > 550 million EUR per month on average in FY 2024 • On a FY 2024 basis, 95% of net cash inflows got re-invested • Cash under Custody increased by 0.6 billion EUR to around 4.3 billion EUR over FY 2024, driven by customer growth, increased average cash per customer and higher utilization of margin loans 1.7 1.1 1.1 0.6 4.5 1.8 1.5 1.7 1.6 6.6 Q1 Q2 Q3 Q4 FY 2023 2024 Net Cash Inflows (bn EUR) Note: Rounding differences may occur.
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Revenue split Preliminary Results 2024 61 100 123 119 112 127 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 55 75 66 64 77 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 39 44 48 44 45 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 +26% +39% +20% +15% +13% +1% Revenues (m EUR) Commission Income (m EUR) Interest Income (m EUR) Note: “Revenues” also includes Other Operating Income which is not depicted on this slide
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Commission per transaction Preliminary Results 2024 62 4.16 € 3.99 € 4.26 € 4.11 € 4.64 € 4.33 € 4.32 € 4.57 € Q1/2023 Q2/ 2023 Q3/2023 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 +6% +11%
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Profitability in Q4 2024 Preliminary Results 2024 63 52 54 53 46 50 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 31 30 31 25 26 Q4/2023 Q1/2024 Q2/ 2024 Q3/2024 Q4/2024 +10% -3% -17% +4% EBITDA (m EUR) Net Income (m EUR)