Slide 1: Flow Traders N.V. 1Q 2016
Flow Traders N.V. 1Q 2016 AMSTER DA M - NEW YOR K - SINGAP O R E - CLUJ
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Flow Traders N.V. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this document does not cons
Slide 3: Content
Content 1Q16 Highlights Flow Traders long term growth and performance Overview ETP markets 1Q16 Consolidated results EMEA (Europe) Americas APAC (Asia) Operational expenses Consolidated financial position Regulatory update Medium to Long-Term Guidance Appendix 3
Slide 4: 1Q16 Highlights
1Q16 Highlights ETP AuM ETP inflows were relatively low during the first quarter amounting to €23bn over the development first two months of 2016, compared to €109bn in 4Q15 (source Blackrock) ETP Values Global Market ETP Value Traded rose quarter-on-quarter and ended at €4.3 trillion in Traded 1Q16
Slide 5: Flow Traders long term growth and performance
Flow Traders long term growth and performance Flow Traders realized a strong performance in the period 1Q 2014- 1Q 2016 100 NTI - Consolidated 90 92.8 80 70 76.9 73.2 70.5 FT NTI (€m) 60 64.5 64.6 50 40 30 36.5 38.1 20 24.9 10 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 60 NTI - Europe 50 51.2 52.3
Slide 6: Overview ETP markets 1Q16
Overview ETP markets 1Q16 5.0 Global ETP Value 3.0 ETP AuM (€tn) 200 Flow Traders ETP 80 Flow Traders 6.0 Flow Traders Traded(1) (€tn) Value Traded(2) NTI (€m) Revenue Capture(2) 2.5 4.0 (€bn) (bps) 2.7 2.6 4.3 150 60 2.0 3.8 151 64.5 64.6 4.0 4.8 4.3 3.0 135 1.5 100 40 2.0 1.0 2.0 1.0 50 20 0.5 0.0
Slide 7: Consolidated results
Consolidated results 1Q16 results 1Q 4Q 1Q vs YTD Adj. YTD YTD YTD-16 vs Consolidated (in €m) 2016 2015 4Q Mar 16 Mar 15 Mar 15 adj. YTD-15 Net Trading Income 64.6 64.5 0% 64.6 76.9 76.9 (16%) Employee expenses (fixed) (6.0) (6.4) (6.0) (5.2) (5.2) Employee expenses (variable) (15.3) (15.7) (15.3) (
Slide 8: EMEA (Europe)
EMEA (Europe) Strong performance versus 4Q15 ∆ 1Q16 ∆ 1Q16 ∆ 1Q16 In €bn unless otherwise stated 1Q16 4Q15 1Q15 1Q14 vs 4Q15 vs 1Q15 vs 1Q14 60 Flow Traders NTI (€m) (1) 50 ETP AuM (end of period) 452 460 478 347 (2%) (6%) 30% (2) 51 EMEA ETP Value Traded 261 220 244 19% 7% 40 30 40 (3) Flow Traders
Slide 9: Americas
Americas Strong growth in ETP Value Traded and NTI ∆ 1Q16 ∆ 1Q16 ∆ 1Q16 In €bn unless otherwise stated 1Q16 4Q15 1Q15 1Q14 vs 4Q15 vs 1Q15 vs 1Q14 20 Flow Traders NTI (€m) (1) ETP AuM (end of period) 1,938 1,987 1,895 1,322 (2%) 2% 47% 15 Americas ETP Value Traded (2) 3,514 2,970 2,955 18% 19% 16 10
Slide 10: APAC (Asia)
APAC (Asia) Results impacted by highly concentrated market activity ∆ 1Q16 ∆ 1Q16 ∆ 1Q16 14 Flow Traders NTI (€m) In €bn unless otherwise stated 1Q16 4Q15 1Q15 1Q14 vs 4Q15 vs 1Q15 vs 1Q14 12 ETP AuM (end of period) (1) 219 219 187 122 (0%) 17% 80% 13 10 (2) APAC ETP Value Traded 522 565 457 (8%) 14
Slide 11: Operational expenses
Operational expenses Ongoing cost developments in line with expectations, taking small write down on infrastructure 1Q 4Q 1Q vs YTD Adj. YTD YTD YTD-16 vs Consolidated (in €m) 2016 2015 4Q Mar 16 Mar 15 Mar 15 adj. YTD-15 Net Trading Income 64.6 64.5 0% 64.6 76.9 76.9 (16%) Employee expenses (fixed)
Slide 12: Consolidated financial position
Consolidated financial position Ongoing strong capital position Flow Traders Condensed Balance Sheet In €m ∆ 31 Mar 16 Assets 31 Mar 16 31 Dec 15 vs. 31 Dec 15 Trading capital 313 339 (26) Property, Equipment and Intangible Assets 22 24 (3) Other Assets 10 16 (5) 350 Total Assets 345 378 (34) 313 30
Slide 13: Regulatory update
Regulatory update Flow Traders is looking forward for MiFID 2 as it will bring us transparency and a more level playing field MiFID 2 is expected to have an impact on HFT and Electronic Trading. The regulatory impact on electronic trading is expected to cause a shift to more “lit” MiFID 2 trading –
Slide 14: Medium to Long-Term Guidance
Medium to Long-Term Guidance Guidance on We plan to present an update to the market on a monthly basis on market data, Current starting end of May (see Appendix 3) Trading Flow Traders continues to focus on organic growth and increase our ETP value traded, through expanding the number of products we
Slide 15: Appendices
Appendices
Slide 16: Appendix 1 - Market volumes
Appendix 1 - Market volumes Using different sources in calculating total market value traded Q1 Q4 Q3 Q2 Q1 Quarterly changes 2016 2015 2015 2015 2015 Q1vsQ4 Q4vsQ3 Q3vsQ2 Q2vsQ1 WFE, LSE and Borsa Italiana ETP market Value Traded, Consolidated (in €bn) 4,474 3,423 3,993 3,337 3,547 31% ( 14%) 20% (
Slide 17: Appendix 2 – Flow Traders volumes
Appendix 2 – Flow Traders volumes Q4 Q3 Q2 Q1 Quarterly changes 2015 2015 2015 2015 Q4vsQ3 Q3vsQ2 Q2vsQ1 Flow Traders values traded (€bn) - Reported in 2015 Consolidated 144.2 171.0 150.2 180.0 ( 16%) 14% ( 17%) Europe 90.6 103.7 94.4 101.5 ( 13%) 10% ( 7%) Americas 43.6 47.3 41.8 64.9 ( 8%) 13% ( 3
Slide 18: Appendix 3 – Monthly Markets Update
Appendix 3 – Monthly Markets Update 2015 2016 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total Market Value Traded - Consolidated (€bn) 1,866 1,364 1,852 1,605 1,441 1,830 1,814 2,202 1,929 1,746 1,548 2,002 2,276 1,951 1,814 Total Market Value Traded - EMEA (€bn) 83 73 88 79 69 82
Slide 19: Appendix 4 - Glossary
Appendix 4 - Glossary Adjusted Earnings (NTI, Net Profit, EBITDA, etc.) adjusted for one-off expenses related to the IPO and earnings SARs expenses. EBITDA Operating result before depreciation of property and equipment, amortization of intangible assets, write off of tangible and intangible assets a
Slide 20: Thank you
Thank you