Multitude Ag · XETR:MULT
Multitude — Pareto Securities' Bond Conference – Stockholm 2025
24 slides from Multitude's conference presentation, Mar 20, 2025
Slide 1: Multitude Group: Creating success stories in fintech
Multitude Group Creating success stories in fintech Pareto Securities' Bond Conference – Stockholm Antti Kumpulainen CEO of Multitude Group 20.03.2025
Slide 2: Important notice
Important notice This presentation contains, or may be deemed to contain, All forward-looking statements included herein are based on forward-looking statements. These statements relate to future information presently available to Multitude and, accordingly, events or future financial performance of
Slide 3: Key takeaways (as of 9M 2024)
Key takeaways (as of 9M 2024) • Revenue increased by 15.1% to EUR 193.9m y-o-y • EBIT increased by 42.2% to EUR 47.2m y-o-y as planned, thanks to credit loss improvements • Antti Kumpulainen appointed as CEO of Multitude Group, effective 1 January 2025 •Relocation of the parent company to Switzerlan
Slide 4: We have been creating success stories in fintech for the last two decades
We have been creating success stories in fintech for the last two decades Founded in Finland in 2005 “Since foundation, we have focused on helping customers who are overlooked EU wide banking licence by traditional banks, with amazing and fully digital customer experience.” Listed on the Frankfurt S
Slide 5: Our vision is to build the most valuable financial platform for overlooked customers
Our vision is to build the most valuable financial platform for overlooked customers VISION MISSION OUR VALUES Building the most Democratise financial Customer centricity, valuable financial services through Entrepreneurial spirit, platform digitalisation, Candour, Respect, for overlooked making the
Slide 6: Multitude's Growth platform
Multitude’s Growth platform Our three independent business units focus on sales and customer experience The growth platform makes sure that the other operations and processes work seamlessly 6
Slide 7: Our growth is built on three fundamentals
Our growth is built on three fundamentals: Organic development, partnerships and acquisitions • Enhance customer-facing and internal processes ORGANIC • Product and country portfolio expansion DEVELOPMENT • Crystalise our unique selling points (USP) for customers • With sales allies PARTNERS • With
Slide 8: Significant growth potential for all our business units
Significant growth potential for all our business units* EUR EUR EUR 24.9 Total Outstanding Portfolio bn 14.8 bn Total Outstanding Portfolio 15.7 bn Total Outstanding Portfolio 1.9% 1.0% 0.7% Our Current Share-% Our Current Share-% Our Current Share-% 8 *Total Addressable Market; Full Potential For
Slide 9: Stable profitable growth, ESG values, and dividend distribution
We are aiming for stable profitable growth, commitment to ESG values, and dividend distribution to shareholders ESG Emissions reduced and increases in Responsible lending index, NPS and eNPS GROWTH Scaling current business units and adding new businesses FUTURE PROFIT UPSIDE 2.5x Net profit growth*
Slide 10: Financial overview (9Months): Strong performance continues
Financial overview (9Months): Strong performance continues in EURm 9M 2024 9M 2023* %/pp change Strong business performance in Interest income 193.9 168.5 15.1 challenging environment: Interest expense (30.1) (14.2) 112.1 • Revenue grew by 15.1% to EUR 193.9m Net interest income 163.8 154.3 6.2 • Ne
Slide 11: Balance sheet: Assets in line with business growth and performance
Balance sheet: Assets in line with business growth and performance in EURm Sept 2024 Dec 2023 % change Asset movements: Cash and cash equivalents 267.1 283.7 -5.9 • Cash level stable Derivative financial assets 0.1 0.3 -68.3 • Loan portfolio and investments increased from EUR 638m in Loans to custom
Slide 12: Balance sheet: Liabilities and shareholders' equity
Balance sheet: Liabilities and shareholders‘ equity in EURm Sept 2024 Dec 2023 % change Movements in liabilities and Equity shareholders’ equity: Share capital 40.1 40.1 -0.1 • Equity of the group increased to Treasury shares (0.6) (0.1) 526.1 EUR 188.0 Retained earnings 92 87.3 5.4 • ND/E 3.27 Unre
Slide 13: Segment view – business unit performance
Segment view – business unit performance in EURm Consumer banking SME banking Wholesale banking Group 9M 2024 9M 2023 % change 9M 2024 9M 2023 % change 9M 2024 9M 2023 % change 9M 2024 9M 2023 % change Interest income 160.6 148.2 8.3 24.7 17.1 44.6 8.7 3.2 169.9 193.9 168.5 15.1 Interest income shar
Slide 14: Strong asset quality - impairment losses down to 3.0%
Strong asset quality - impairment losses down to 3.0% on quarterly levels Impairment losses / NAR Balanced growth strategy drives asset quality improvements: 2019 2020 2021 2022 2023 2024 • Long-term trend: Continuous 12.0% improvement in impairment 9.7% 10.0% losses over net accounts receivable 2.2
Slide 15: Solid cash balance
Solid cash balance Cash to Deposits in % Cash in EURm 500 100% 90.6% 450 90% 86.2% 82.9% 400 382 80% 73.5% 70.1% 66.9% 70.1% 350 69.9% 312 66.8% 63.5% 70% 75.6% 65.1% 63.0% 299 302 300 64.2% 63.1% 284 62.3% 267 265 50.7% 267 60% 53.0% 238 250 227 225 219 50% 213 213 38.7% 35.1%33.6% 30.6%197 167 200
Slide 16: Funding structure and cost of debt capital
Funding structure and cost of debt capital Financing mix at 30 September 2024 Financing mix at 30 September 2023 Deposits 1% 7% Multitude AG 5% 8.90% + 3-month Euribor perpetual (IFRS Equity) 9% 7% Multitude Bank p.l.c. 6% fixed rate Tier 2 bond 2032 (Reg. Capital) EUR 3m EUR 3m EUR 773m EUR 46m Mul
Slide 17: Multitude Group in Capital markets
Multitude Group in Capital markets Three issuing entities focused on complementary objectives Multitude Bank comfortably meets all regulatory capital requirements Multitude Bank p.l.c. (Fitch: B+ pos.): • Licensed by Maltese Financial Services Authority (MFSA); credit institution under the Banking A
Slide 18: Key takeaways (as of 9M 2024)
Key takeaways (as of 9M 2024) • Revenue increased by 15.1% to EUR 193.9m y-o-y • EBIT increased by 42.2% to EUR 47.2m y-o-y as planned, thanks to credit loss improvements • Antti Kumpulainen appointed as CEO of Multitude Group, effective 1 January 2025 •Relocation of the parent company to Switzerlan
Slide 19: Q&A
Q&A 19
Slide 20: Appendix
Appendix OOo
Slide 21: Multitude group highlights 9M 2024
Multitude group highlights 9M 2024 – Increasing revenue and strong EBIT growth Highlights 9M 2024 Focus going forward • Both revenue and EBIT growing strongly • Focus on 3 growth initiatives: Organic, Partnerships and M&A • All 3 business units growing • Enhance risk management and AI investments to
Slide 22: Consumer Banking highlights 9M 2024
Consumer Banking highlights 9M 2024 – Strong performance continues Highlights 9M 2024 Focus going forward Targets 2024 • Improved marketing bidding process in further • Continue integrating SweepBank banking Our target for 2024 is to achieve 5% higher EBIT countries products to Ferratum offering in
Slide 23: SME Banking highlights 9M 2024
SME Banking highlights 9M 2024 – Strong growth and credit risk provisions decreasing according to plan Highlights 9M 2024 Focus going forward Targets 2024 • Focus on retention of customers: Multi- • Integrate SweepBank account and credit card Our original target for 2024 was to achieve EUR product o
Slide 24: Wholesale Banking highlights 9M 2024
Wholesale Banking highlights 9M 2024 – Strong profitable growth with carefully selected institutional clients Highlights 9M 2024 Focus going forward Targets 2024 • Increased expertise and reduced deal • Emphasizing smart risk-taking and disciplined On our way to achieving our 2024 target of originat
Multitude Group — Pareto Securities' Bond Conference – Stockholm 2025 on 6ix