Flatexdegiro Se · XETR:FTK
Flatexdegiro — Q2 2025 Earnings Presentation
24 slides from Flatexdegiro's earnings presentation, Jul 23, 2025
Slide 1: Preliminary Results H1/2025
Preliminary Results H1/2025 23 July 2025
Slide 2: Disclaimer
Preliminary Results H1/2025 Disclaimer Preliminary Results H1/2025 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
Slide 3: Today's presenter
Today’s presenter Oliver Behrens Dr. Benon Janos Chief Executive Officer Chief Financial Officer
Slide 4: Today's agenda
Today’s agenda 1 CEO Remarks 2 Preliminary Results H1/2025 3 Outlook 2025
Slide 5: CEO Remarks
CEO Remarks
Slide 6: Highlights
Preliminary Results H1/2025 Highlights Record H1 driven by market volatility, Full-year guidance raised substantially, customer growth and cost consciousness Net Income expected to grow 15-25% to 128-139 million Euro (previously -5% to +10%) Changes in the Management and Progress on strategic initia
Slide 7: Trading, commissions per trade (and Interest Income) benefitted from highest volatility since Covid
Preliminary Results H1/2025 Trading, commissions per trade (and Interest Income) benefitted from highest volatility since Covid VIX (S&P 500) 90 80 70 60 50 40 30 20 10 0 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 7
Slide 8: Operating leverage starts coming through, cost consciousness in growth environment maintained
Preliminary Results H1/2025 Operating leverage starts coming through, cost consciousness in growth environment maintained Cost-Income-Ratio • Cost-Income-Ratio well below 50% in 70% H1/2025 • From H1/2023 to H1/2025, 80 m EUR higher Net Revenues Net Revenues increased by 80 million Euro 48% 45% 4 m
Slide 9: flatexDEGIRO AG Management Board and Supervisory Board
Preliminary Results H1/2025 Management Board Supervisory Board flatexDEGIRO AG Oliver Behrens Dr. Benon Janos Christiane Strubel Hans-Hermann Lotter Stefan Müller CEO CFO CHRO Chairman Deputy Chairman Jens Möbitz Evgeni Kaplun Bernd Förtsch Martina Pfeifer Sarna Röser COO CRO flatexDEGIRO Bank AG 9
Slide 10: Update strategic initiatives
Preliminary Results H1/2025 Update strategic initiatives Crypto trading • Successful go-live of Crypto trading at DEGIRO Germany in Q2 / 2025 • International roll-out delayed due to custody partner waiting for MiCAR license, launch & campaign to start after summer holidays • Trading volume in H1 / 2
Slide 11: Q2 2025 Performance
Q2 2025 Performance
Slide 12: Commercial Performance
Preliminary Results H1/2025 Commercial Performance Gross customer additions (k) Assets under Custody (bn EUR) Settled Transactions (m) +22% +37% +18% -26% +10% -8% 83.5 139 75.8 71.5 19.5 124 64.6 17.9 61.1 16.8 103 15.2 14.8 92 85 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Jun 2024 Sep 2024 Dec 2024 M
Slide 13: Development of Assets under Custody
Preliminary Results H1/2025 Development of Assets under Custody Securities (bn EUR) Cash (bn EUR) +36% +43% +10% +10% 78.4 71.1 5.1 67.2 4.6 60.9 57.6 4.3 3.7 3.6 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 13 Note: Rounding differences may occur.
Slide 14: Net Cash Inflows of 2.5 bn EUR in Q2 2025 (+74% YoY)
Preliminary Results H1/2025 Net Cash Inflows of 2.5 bn EUR in Q2 2025 (+74% YoY) Net Cash Inflows (bn EUR) 2023 2024 2025 6.6 • Second-highest monthly 5.6 cash inflows ever in April 2025 (highest in March 2020 / Covid) 4.5 • Existing customers contributing ~80 % of these Net Cash Inflows 3.2 3.0 2.9
Slide 15: Revenue split
Preliminary Results H1/2025 Revenue split Revenues (m EUR) Commission Income (m EUR) Interest Income (m EUR) +11% +28% -10% -10% -13% -2% 146 98 48 132 45 127 44 43 85 43 119 112 77 66 64 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q2/2024 Q3/2024 Q4/2024 Q1/2025
Slide 16: Monetization
Preliminary Results H1/2025 Monetization Commissions per transaction (EUR) +9% -6% 5.02 4.64 4.72 4.57 4.26 4.33 4.32 4.11 3.99 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 16
Slide 17: Cost overview
Preliminary Results H1/2025 Cost overview Personnel expenses (m EUR) Marketing and advertising Other administrative expenses expenses (m EUR) (m EUR) 37.1 17.7 3.3 12.0 32.0 16.2 31.0 5.1 2.6 14.1 26.5 26.1 12.9 1.4 1.4 11.7 7.4 7.0 6.5 6.2 33.8 28.5 26.9 25.1 24.7 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2
Slide 18: Profitability
Preliminary Results H1/2025 Profitability EBITDA (m EUR) Net Income (m EUR) +20% +28% -9% -6% 69 63 42 40 53 50 46 31 26 25 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 18
Slide 19: Preliminary Results H1/2025
Preliminary Results H1/2025
Slide 20: Record Half-Year
Preliminary Results H1/2025 Record Half-Year Revenues (m EUR) EBITDA (m EUR) Net Income (m EUR) +15% +24% +34% +17% +38% +61% 278 132 10 82 242 238 9 8 106 202 86 96 61 189 92 10 9 92 89 52 51 59 77 48 182 20 141 141 121 114 H1/2023 H2/2023 H1/2024 H2/2024 H1/2025 H1/2023 H2/2023 H1/2024 H2/2024 H1/
Slide 21: Outlook 2025
Outlook 2025
Slide 22: Guidance 2025 increased
Preliminary Results H1/2025 Guidance 2025 increased Commission income: Interest income: Cost base: • Customer growth and trading • Higher cash position per customer • Current personnel expenses below activity well above expectations and ongoing customer growth 2024, variable long-term in Jan-Apr 202
Slide 23: Q&A Session
Q&A Session
Slide 24: Investor Relations Contact
Investor Relations Contact Achim Schreck Laura Hecker Head of IR and Corporate Communications Director Investor Relations Mail: achim.schreck@flatexdegiro.com Mail: laura.hecker@flatexdegiro.com Mobile: +49 160 9277 4570 Mobile: +49 160 3064 404 flatexDEGIRO AG Address: Omniturm, Große Gallusstraße