Swissquote Group Holding Ltd. · SIX:SQN
Swissquote — H1 2024 Earnings Presentation
29 slides from Swissquote's earnings presentation, Aug 13, 2024
Slide 1: Press conference Results for H1-2024
Press conference Results for H1-2024 13 AUGUST 2024
Slide 2: Agenda
2 AGENDA 01 02 03 Executive summary Half year 2024 Balance sheet 04 05 Guidance Appendix Press conference - Results for H1-2024
Slide 3: Executive summary
@Swissquote EXECUTIV SUMMARY
Slide 4: Exceptional growth in H1-2024
Executive summary 4 CHF 316.9 million Exceptional growth CHF 169.7 million in H1-2024 +CHF 3.8 billion +36,351 Press conference - Results for H1-2024
Slide 5: Half year 2024
@Swissquote EAN
Slide 6: Customer growth
Half year 2024 6 Customer growth Net new money Number of accounts and average assets CHF billion (#) CHF 6 650,000 +33% 5.0 610,625 250,000 4.9 4.7 5 538,946 550,000 200,000 3.8 459,800 4 450,000 150,000 3.0 111,433 2.7 109,265 96,835 3 350,000 100,000 2.0 2 250,000 50,000 1 150,000 0 0 H1-2021 H2-2
Slide 7: Net new money in H1-2024
Half year 2024 7 Net new money in H1-2024 By client domicile (in CHF million) by semester 1 Switzerland 2 Europe H1-2024 2,519.3 H1-2024 841.2 H2-2023 H2-2023 CHF H1-2023 H1-2023 H2-2022 H2-2022 66% 3.8 34% H1-2022 H1-2022 billion 3 MEA 4 Rest of the world Switzerland International H1-2024 328.0 H1-
Slide 8: Net revenues of CHF 316.9 million
Half year 2024 8 Net revenues of CHF 316.9 million CHF million Fee and commission Interest eForex Trading Crypto assets 350 316.9 300 264.4 265.6 265.8 250 208.1 208.0 200.0 200 150 100 50 0 H1-2021 H2-2021 H1-2022 H2-2022 H1-2023 H2-2023 H1-2024 Press conference - Results for H1-2024
Slide 9: Client assets at CHF 68.0 billion
Half year 2024 9 Client assets at CHF 68.0 billion CHF billion Client assets Net new money Margin on assets bps 80 300 +35% 68.0 70 250 Cash Securities 60 200 52.2 50.2 50 150 14% CHF 68.0 40 100 billion 86% 30 50 20 0 H1-2021 H2-2021 H1-2022 H2-2022 H1-2023 H2-2023 H1-2024 Press conference - Result
Slide 10: Net revenues by customer profile
Half year 2024 10 Net revenues by customer profile Net revenues by customer domicile Net revenues by customer type 19% CHF CHF 57% 316.9 74% 316.9 26% million 13% million 11% Switzerland Europe B2C B2B / B2B2C 66% of client assets 17% of client assets B2B2C 60% MEA Rest of the world B2B 40% 7% of cl
Slide 11: Net revenues by asset class and nature
Half year 2024 11 Net revenues by asset class and nature Net revenues by asset class Net revenues by nature 29% 3% 4% CHF 13% CHF 5% 316.9 46% 316.9 54% million million 11% 12% 11% 12% Fixed income, funds Cash and similar vehicles Transaction based Non-transaction based Shares Foreign exchange Inter
Slide 12: Total expenses in line with targets
Half year 2024 12 Total expenses in line with targets Expenses distribution Distribution of headcount CHF million # FTE 160 2,000 36% 120 1,600 80 1,200 1,177 15% FTE 5% in temporary 40 800 positions 22% 13% 0 400 14% Payroll and related Other operating expenses Technology Sales, Trading and Marketi
Slide 13: Growing profitability
Half year 2024 13 Growing CHF million Pre-tax profit Net profit Pre-tax profit margin profitability 180 60% 53.5% 50.9% 1 CHF 68 billion 150 50% Of client assets 120 40% 90 30% 2 101 bps Of revenue margin 60 20% on assets in H1-2024 30 10% 3 54 bps 0 0% Of pre-tax profit margin H1-2021 H2-2021 H1-20
Slide 14: Balance sheet
@Swissquote
Slide 15: As at June 30th
15 Total assets Total liabilities & equity CHF CHF CHF CHF As at 11.3 billion 10.0 billion 11.3 billion 10.0 billion June 30th 2024 Cash and cash equivalents with 4,823.7 4,939.9 central banks Due to customers in CHF 4,628.0 4,366.1 (cash deposits of customers) 1 Liquidity ratio LCR Treasury bills 3
Slide 16: Interest income contribution
Balance sheet 16 Interest income contribution Total client assets Deposits Loans & investment securities Trading accounts are 14% ! remunerated from 0% to 0.4% depending on CHF currency and level of cash 63% 37% CHF 68.0 CHF 3.6 billion Saving accounts are 9.8 billion ! remunerated up to 2.0% billio
Slide 17: Equity close to CHF 1.0 billion
Balance sheet 17 Equity close to CHF 1.0 billion CHF million Total equity Capital ratio FINMA requirement 1,000 994.9 50% 800 40% 600 25.9% 30% 400 20% 11.2% 200 10% 0 0% H1-2021 H2-2021 H1-2022 H2-2022 H1-2023 H2-2023 H1-2024 Press conference - Results for H1-2024
Slide 18: Guidance
@Swissquote 04 GUI DANG
Slide 19: Guidance 2024 revised upwards
Guidance 19 Guidance 2024 revised upwards CHF million Net revenues Pre-tax profit Pre-tax profit margin 700 70% ~615 600 60% 531 500 50% 400 40% ~320 300 255 30% 200 20% 100 10% 0 0% 2018 2019 2020 2021 2022 2023 2024E Press conference - Results for H1-2024
Slide 20: Margin on assets in 2024
Guidance 20 Margin on assets in 2024 Crypto assets Interest 1 Net crypto assets income grew significantly in Securities trading and eForex Total client assets H1-2024 but a certain level of caution is bps CHF billion recommended for H2-2024. 120 180 2 Interest rates set to decrease in H2-2024 (CHF,
Slide 21: Appendix
@Swissquote SIN
Slide 22: Customer loyalty
Appendix 22 Customer loyalty Distribution of accounts Distribution of client assets 8% 4% New clients 2024 24% New clients 2024 CHF 610,625 68.0 36% 56% accounts Clients 2021-2023 Clients 2021-2023 billion 72% Clients up to 2020 Clients up to 2020 Distribution of net revenues 5% New clients 2024 +10
Slide 23: Swissquote is growing in its domestic market
Appendix 23 Swissquote is growing in its domestic market • Swissquote average market share is 2.1% Total net wealth of Swiss Market share households at 31 December At 31 December 2023 • Approximately 3% continued growth in wealth 2023 Swissquote per year market share • Wealth inequality is moderate.
Slide 24: The app in a nutshell
by average App store Accounts growth rating (App store and Google play) # +235,000 250,000 4.6 200,000 150,000 100,000 50,000 The app in a nutshell 0 31.12.2021 30.06.2022 31.12.2022 30.06.2023 31.12.2023 30.06.2024 ▪ Virtual Card ▪ Pillar 3a ▪ 1% interest on CHF (unlimited on the amount in saving)
Slide 25: Meet us in 2024 / 2025
Appendix 25 Meet us in 2024 / 2025 September 10 November 08 November 18 November 26 March 20 May 08 UBS ZKB BNP Paribas Exane Kepler Cheuvreux Presentation of Full Ordinary General Best of Switzerland Swiss Equity Midcap CEO Swiss Seminar Year 2024 results Meeting Conference Conference Conference (v
Slide 26: Key figures
Appendix 26 Key figures 6 months ended 30 June Comparison with previous half year in CHF thousand, except where specified 2024 2023 Change Change in % H1-2024 H2-2023 Change Change in % Net fee & commission income (excl. crypto.) 86,904.5 73,734.8 13,169.7 17.9% 86,904.5 69,139.6 17,764.9 25.7% Net
Slide 27: Key figures (cont.)
Appendix 27 Key figures (cont.) 30.06.2024 30.06.2023 Change Change in % 30.06.2024 31.12.2023 Change Change in % Swissquote Trading accounts 532,414 485,875 46,539 9.6% 532,414 501,290 31,124 6.2% Robo-Advisory / Saving accounts 32,523 24,304 8,219 33.8% 32,523 27,936 4,587 16.4% eForex accounts 45
Slide 28: @Swissquote
@Swissquote 28
Slide 29: Thank you
29 THANK YOU GENEVA · ZURICH | LUXEMBOURG · LONDON · MALTA · BUCHAREST · CYPRUS · DUBAI · CAPE TOWN · SINGAPORE · HONG KONG
Swissquote Group Holding — H1 2024 Earnings Presentation on 6ix