flatexDEGIRO SE · XETR:FTK
flatexDEGIRO — Investor Presentation (June 2024)
27 slides from flatexDEGIRO's investor presentation, June 2024
Slide 1: flatexdegiro - Leading Online Broker in Europe
56 Corporate Presentation | June 2024 flatexdegiro - LEADING Online Broker in EUROPE
Slide 2: Disclaimer
flatexDEGIRO Corporate Presentation Disclaimer Non-IFRS measures (APMs) This presentation includes non-IFRS measures, including Adjusted EBITDA. These measures are alternative performance measures as defined by th European Securities and Markets Authority ("ESMA"). flatexDEGIRO presents these non-IF
Slide 3: flatexDEGIRO at a glance
flatexDEGIRO Corporate Presentation flatexDEGIRO at a glance Key Operating Metrics 2023 Revenue Model and Contribution Number of Markets Customer Employees accounts 16 countries 2.7m ~1,300 Executed Executed Trade Assets under Trades (LTM) Volume Custody Online brokerage >57m ~ €300bn > €50bn Credit
Slide 4: Highly experienced and committed management team
flatexDEGIRO Corporate Presentation Highly experienced and committed management team Management Board flatexDEGIRO AG Dr. Benon Janos Stephan Simmang Christiane Strubel Co-CEO / CFO Co-CEO / CTO Chief HR Officer with flatexDEGIRO since: 2016 with flatexDEGIRO since: 2016 with flatexDEGIRO since: 201
Slide 5: High level financial overview
flatexDEGIRO Corporate Presentation High level financial overview Revenues (m EUR) EBITDA and Adjusted* EBITDA (m EUR) Net income and Adj.* Net income (m EUR) 183 177 418 407 391 154 106 145 140 97 369 Adj.* 81 Revenues 79 114 112 261 72 98 50 53 52 2020 2021 2022 2023 2020 2021 2022 2023 2020 2021
Slide 6: Commercial performance
flatexDEGIRO Corporate Presentation Commercial performance Gross customer additions (k) Assets under Custody (bn EUR) Transactions (m) 51.8 800 91 43.9 39.5 75 67 574 31.8 57 462 341 31 14.6 227 2019* 2020* 2021 2022 2023 2019 2020 2021 2022 2023 2019* 2020* 2021 2022 2023 * pro forma, FY inclusion
Slide 7: Customer focus & growth
Customer focus & growth 13 70
Slide 8: flatexDEGIRO provides its services to mature, highly educated and well-situated clients
flatexDEGIRO Corporate Presentation flatexDEGIRO provides its services to mature, highly educated and well-situated clients 74% of customers between 23-49 years old 22 trades in 2023 Increasingly female per cohort 19% 22% 23% ~ € 5,000 16% 16% Average transaction volume in 2023 flatexDEGIRO 2019 202
Slide 9: Most comprehensive product offering
flatexDEGIRO Corporate Presentation Most comprehensive product offering Stocks ETF Partners integrate with Connect to European flatexDEGIRO ETP Mutual funds customer potential of several million • Investment banks • ETF provider • Funds manager Digital Wealth Mgmt Further Products Open Platform High
Slide 10: Leading user experience on an award winning platform
Leading user experience on an award winning platform flatex and DEGIRO with some of the highest app ratings in the industry
Slide 11: flatexDEGIRO – size, speed and dedication
flatexDEGIRO Corporate Presentation flatexDEGIRO – size, speed and dedication • Realization of our European growth strategy • Leading pan-European retail online broker in 16 countries • Cost and innovation leadership with complete value creation in- house • Improved and more extensive range of produ
Slide 12: Massive customer potential in Continental Europe
flatexDEGIRO Corporate Presentation Massive customer potential in Continental Europe Underdeveloped G7 Developed brokerage markets Addressable 285m 111m population Digitalized 89% 97% Online banked 55% 86% Online brokerage 8% (23m people) 35% (40m people) Massive structural gap between developed (35
Slide 13: Strong market presence in key geographies
flatexDEGIRO Corporate Presentation Strong market presence in key geographies Core Markets: Growth Markets: Research Markets: NL, DE, AT FR, ES, PT, IT, CH, UK, IE DK, SE, FI,PL, CZ, GR Customer accounts Dec 2023: 1.57m Customer accounts Dec 2023: 1.01m Customer accounts Dec 2023: 0.12m New customer
Slide 14: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth Strong customer growth continued in challenging environment.. .. twice as high as industry average 2023: +12.6% 12.6 % 2.75 m x 2.1 2.50 m 6.1% 2.25 m Peer Average* flatexDEGIRO 2.00 m .. despite significantly reduced marketing - 15 m € 49 m €
Slide 15: Comparable trading activity across the industry
flatexDEGIRO Corporate Presentation Comparable trading activity across the industry flatexDEGIRO DARTs* per customer account Nordnet Avanza * Nordnet, Avanza: based on Monthly statistics published by the companies flatexDEGIRO: excluding days where markets in the US/Germany/Netherlands are closed
Slide 16: Outlook 2024
Outlook 2024 7
Slide 17: Guidance FY 2024
flatexDEGIRO Preliminary results 2023 Guidance FY 2024 Previous years used adjusted key figures (e.g. Adj. revenues, Adj. EBITDA margin, Adj. EBT margin). From 2024, communicated assumptions and forecasts will be without adjustments in order to establish simpler and more transparent key figures Adju
Slide 18: 2023 highlights
flatexDEGIRO Preliminary Results 2023 2023 highlights Commercial growth in Financially second best Foundation for revenue and challenging environment year in our history net income record in 2024 Key BaFin findings CET ratio expected Capital allocation strategy resolved within 10 months, > 30% after
Slide 19: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth flatex and DEGIRO again awarded multiple awards in key markets in 2023 flatex with 7 awards in Germany by BrokerWahl, BrokerVergleich, justETF, focusMoney, Chip and Welt DEGIRO with 7 awards in NL/DE/ES/IT by Investing, CashCow, BrokerChooser,
Slide 20: Financially second best year in our history
Financially second best year in our history 18 70
Slide 21: Revenue split
flatexDEGIRO Preliminary Results 2023 Revenue split Adjusted* Revenues (m EUR) Commission income (m EUR) Interest income (m EUR) Y-o-Y Y-o-Y Y-o-Y +6.0% -13.7% +90.6% Q-o-Q Q-o-Q Q-o-Q 391 +14.3% +4.5% +76.9% (34) 272 136 100 369 (18) 235 88 55 39 53 72 22 Q4/2022 Q4/2023 2022 2023 Q4/2022 Q4/2023 2
Slide 22: EBITDA development
flatexDEGIRO Preliminary Results 2023 EBITDA development EBITDA (m EUR) Adjusted* EBITDA (m EUR) Adjustment Y-o-Y Y-o-Y -23.4% +6.5% only for effects from long-term Q-o-Q 183 Q-o-Q 154 variable compensation -8.3% +26.6% (Stock Appreciation Rights, SARs 145 57 52 140 to become less relevant going 49
Slide 23: Resolution of key BaFin findings, Implications on regulatory Capital and Capital Allocation
Resolution of key BaFin findings, Implications on regulatory Capital and Capital Allocation 30
Slide 24: Resolution of BaFin findings far advanced already
flatexDEGIRO Preliminary results 2023 Resolution of BaFin findings far advanced already Personnel measures started already in 2022 have been largely completed in 2023, number of employees in relevant departments doubled. For 2024 only a small number of selective personnel additions are planned Compr
Slide 25: CET1 ratio expected to increase to over 30% including 2023 profits
flatexDEGIRO Preliminary results 2023 CET1 ratio expected to increase to over 30%* including 2023 profits Capital Requirement Capital Structure RWA 899 m € + profits 2023 expected € 108recognized once m CET1 available CET1 ratio CET1 ratio 247 m € > 30%* 15.4% (as of June 2023) CET1 required 139 m €
Slide 26: Capital Allocation with first time returns to shareholders
flatexDEGIRO Preliminary results 2023 Capital Allocation with first time returns to shareholders Significant regulatory Capital Surplus and ongoing profits allow for new capital allocation strategy with capital returns to shareholders for the first time. Management and Supervisory Board therefore in
Slide 27: Contact
97 Contact Achim Schreck flatexDEGIRO AG Head of IR and Corporate Communications Mobile: +49 160 9277 4570 Address: Omniturm, Große Gallusstraße 16-18 60312 Frankfurt/Main, Germany Phone: +49 69 4500 01 1700 Mail: achim.schreck@flatexdegiro.com Website: www.flatexdegiro.com flatexDEGIRO AG Leading O