Tel Aviv Stock Exchange Ltd. · TASE:TASE
Tel Aviv Stock Exchange — Meitav Investment House — Q1 2025 Earnings Presentation
24 slides from Tel Aviv Stock Exchange's earnings presentation, May 27, 2025
Slide 1: Investor Presentation Q1 2025
Investor Presentation Q1 2025 1
Slide 2: Disclaimer
Disclaimer The following presentation was prepared by Meitav Investment House Ltd. (hereinafter: the “Company”) and is intended for institutional investors only. This presentation does not comprise an opinion, suggestion, recommendation or purchase consultation / marketing and / or holding and / or
Slide 3: Revenue: Continued Growth Across All Business Segments
Revenue: Continued Growth Across All Business Segments (In NIS Million) • Total group revenue: Approximately NIS 451 million, reflecting a 25% increase compared to the same quarter last year. +63% +23% 1,619 83 1,313 1,192 318 1,112 86 995 99 245 186 +25% 99 199 109 188 160 162 116 405 115 99 346 45
Slide 4: AUM: Breaking Records Once Again
AUM: Breaking Records Once Again (In NIS Billion) • The Company’s AUM have shown remarkable growth, increasing by approximately 127% between December 31, 2020 and March 31, 2025 • As of May 18, 2025, the total AUM amount is approximately NIS 347 billion +124% +15% 327 331 38 287 38 269 49 36 48 222
Slide 5: Meitav: Selected Financial Data for Q1 2025
Meitav: Selected Financial Data for Q1 2025 Revenues Adjusted EBITDA* Other 6% Other 5% Retail Credit Retail Credit Brokerage 20% Brokerage 21% 11% 14% 451NIS Million 173 NIS Million Long-Term Short-Term Short-Term Savings Long-Term Savings Savings (STS) (LTS) Savings (LTS) (STS) 24% 39% 34% 26% * S
Slide 6: Adjusted EBITDA
Adjusted EBITDA* (In NIS Million) • Adjusted EBITDA* of NIS 173 million in the current quarter, an increase of 49% compared to the same quarter last year +52% +44% 565 +49% 371 401 392 318 173 116 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 6 * Excluding one-time factors and share based payments (See d
Slide 7: Selected Financial Data: An increase of 80% in the Profit attributed to the shareholders
Selected Financial Data: An increase of 80% in the Profit attributed to the shareholders* )In NIS Million) Net profit excluding provisions Net profit attributed to Net profit for the period for legal claims** the shareholders +70% +80% +77% 107 90 101 63 50 57 quarter quarter quarter 2024 2025 2024
Slide 8: Competitive Advantages That Prevail in the Long Run
Competitive Advantages That Prevail in the Long Run ONE-STOP SHOP Diverse Business Anchors Active Management For all investment opportunities Risk diversification in the capital Managerial stability over the years market • Asset management: pension funds, The leading investment house offering the pr
Slide 9: Key Growth Drivers
Key Growth Drivers Pension and Credit Retail Brokerage Alternative Investments Provident Funds • The largest non-banking member and Fintech of the Stock Exchange in Israel • Meitav Provident and Pension • Consistent growth in the • Market share: 9% of the trading • 33% equity stake (on a fully dilut
Slide 10: Meitav: Development and Growth Over the Years
Meitav: Development and Growth Over the Years 2010-2019 2020-2025 2000-2009 Continued Growth 1990-1999 A Decade of Success A Decade of Mergers and Acquisitions and Increasing Business Volume 1980-1989 and Major A Decade of Expansion 1979 Breakthrough 2011: Dash acquires Tachlit Meitav becomes a lead
Slide 11: Segment Analysis
Segment Analysis int House es 8 % ie 11
Slide 12: Long-Term Savings (LTS): Significant increase across all metrics
Long-Term Savings (LTS): Significant increase across all metrics Assets Under Management (in NIS Billion) Revenues (in NIS Million) +160% +108% +22% 161 +25% 156 627 132 120 476 407 94 85 339 302 60 178 142 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 12
Slide 13: Long-Term Savings (LTS): Improvement in average management fee rate
Long-Term Savings (LTS): Improvement in average management fee rate in Provident and Study Funds and a positive outlook moving forward Excluding minimal management fees and the ‘Saving for Every Child’ savings program 13
Slide 14: Long-Term Savings (LTS): Significant increase across all metrics
Long-Term Savings (LTS): Significant increase across all metrics Segment Profit* (in NIS million) +225% • AUM have increased by approximately NIS 110 billion from the end of 2020 to the end of the current quarter. As of May 18, 2025, the total AUM amounted to approximately NIS 168.7 billion +35% • N
Slide 15: Short-Term Savings (STS): Continuous performance improvement
Short-Term Savings (STS): Continuous performance improvement Segment Profit (in NIS million) AUM (in NIS billion) Revenues (in NIS million) +30% +99% +25% +10% 405 +19% 161 163 162 +52% 371 371 346 171 155 170 323 125 128 137 149 127 86 44 89 106 29 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 2020 2021
Slide 16: Credit Segment: Continued Growth Trend in Both Revenue and Profit
Credit Segment: Continued Growth Trend in Both Revenue and Profit Segment Profit (in NIS million) Revenues (in NIS Million) +16% +96% +79% 318 +44% 108 114 98 96 245 84 188 199 162 34 91 19 63 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 2020 2021 2022 2023 2024 Q1 2024 Q1 2025 SME Credit SME Real Estat
Slide 17: Retail Brokerage Segment: Continued Growth
Retail Brokerage Segment: Continued Growth Segment Profit (in NIS million) Revenues (in NIS Million) Accounts* (in Thousands) +173% +88% +159% +8% +28% 186 +19% 82 160 89 96 70 115 116 67 99 49 56 40 30 26 37 23 43 51 18 2020 2021 2022 2023 2024 Q1 Q1 2020 2021 2022 2023 2024 Q1 Q1 2020 2021 2022 20
Slide 18: Creating Value in Alternative Investment and Fintech
Creating Value in Alternative Investment and Fintech Fund holding 19.99% * Company holding 22.43% Company holding 85.84% Company holding 33.3% Fund holding* 67.5% Fund holding* 85.84% A secondary fund managed by Reigo Investments is a fintech real Lotus is a leading non-bank Liquidity has developed
Slide 19: Meitav in the Community: Extensive Engagement Throughout the Year
Meitav in the Community: Extensive Engagement Throughout the Year Meitav recently published its second ESG report for the years 2022–2023. Here are three key areas of Meitav’s community involvement: Diversity in Employment at Meitav Donations Employee Volunteering in the Community Meitav emphasizes
Slide 20: Meitav Leading Experts Across the Media
Meitav Leading Experts Across the Media 20
Slide 21: Financial Statements
Financial Statements 21
Slide 22: Balance Sheet (In NIS Million)
Balance Sheet (In NIS Million) As of As of As of As of 31.03.2025 31.12.2024 31.03.2025 31.12.2024 Cash and short-term investments 542 529 Credit from banks and others 1,848 1,910 Other current assets 2,216 2,220 Liabilities for short sale of securities 71 91 Total current assets 2,758 2,749 Trade a
Slide 23: Profit and Loss (in NIS Million)
Profit and Loss (in NIS Million) Q1 Q4 Q1 2024 2025 2024 2024 Revenue from management fees, commissions and other 360 356 297 1,301 Income from non-bank loans activity 91 85 63 318 Total revenue 451 441 360 1,619 Income refund in respect of legal claims against the Company - )2( - )2( Total revenue
Slide 24: Meitav: Investment House
Meitav: Investment House
Meitav Investment House — Q1 2025 Earnings Presentation on 6ix