Slide 1: Preliminary Results 2023
56 flatexDEGIRO AG | 28 February 2024 Preliminary Results 2023
Slide 2: Disclaimer
flatexDEGIRO Disclaimer Preliminary Results 2023 - Unaudited Results 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, including Adjusted EBITDA. These measures are alt
Slide 3: 2023 highlights
flatexDEGIRO Preliminary Results 2023 2023 highlights Commercial growth in Financially second best Foundation for revenue and challenging environment year in our history net income record in 2024 Key BaFin findings CET ratio expected Capital allocation strategy resolved within 10 months, > 30% after
Slide 4: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth Strong customer growth continued in challenging environment.. .. twice as high as industry average 2023: +12.6% 12.6 % 2.75 m x 2.1 2.50 m 6.1% 2.25 m Peer Average* flatexDEGIRO 2.00 m .. despite significantly reduced marketing - 15 m € 49 m €
Slide 5: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth High net cash inflows.. ..and a high investment ratio.. ..drive record AuC. (despite not paying interest) (91%) 51.7 bn € 4.5 bn € 4.5 bn € re-invested 4.1 bn € 39.5 bn € (91%) Securities: Securities: 36.2 bn € 48.1 bn € uninvested 0.4 bn € Cas
Slide 6: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth Industry-wide lower trading activity.. ..leads to fewer trades.. ..but higher monetarization.. ..and higher interest income. (with some stabilization since Q2 2023 ) Annualised transactions per customer Average Commission per transaction 136.3
Slide 7: Commercial growth
flatexDEGIRO Preliminary Results 2023 Commercial growth flatex and DEGIRO again awarded multiple awards in key markets in 2023 flatex with 7 awards in Germany by BrokerWahl, BrokerVergleich, justETF, focusMoney, Chip and Welt DEGIRO with 7 awards in NL/DE/ES/IT by Investing, CashCow, BrokerChooser,
Slide 8: Financially second best year in our history
Financially second best year in our history 78 1 0
Slide 9: Revenue split
flatexDEGIRO Preliminary Results 2023 Revenue split Adjusted* Revenues (m EUR) Commission income (m EUR) Interest income (m EUR) Y-o-Y Y-o-Y Y-o-Y +6.0% -13.7% +90.6% Q-o-Q Q-o-Q Q-o-Q 391 +14.3% +4.5% +76.9% (34) 272 136 100 369 (18) 235 88 55 39 53 72 22 Q4/2022 Q4/2023 2022 2023 Q4/2022 Q4/2023 2
Slide 10: EBITDA development
flatexDEGIRO Preliminary Results 2023 EBITDA development EBITDA (m EUR) Adjusted* EBITDA (m EUR) Adjustment Y-o-Y Y-o-Y -23.4% +6.5% only for effects from long-term Q-o-Q 183 Q-o-Q 154 variable compensation -8.3% +26.6% (Stock Appreciation Rights, SARs 145 57 52 140 to become less relevant going 49
Slide 11: Performance on annual targets
flatexDEGIRO Preliminary results 2023 Performance on annual targets (Adj.) Revenues increased from 368 m € to 391 m € (+6.0%) Adj. EBITDA margin increased from 39.3% to 39.5% (+0.4%) Adj. EBT margin increased from 29.6% to 30.0% (+1.4%) Financial growth despite several special effects, such as BaFin
Slide 12: Enhancing transparency further with new segment reporting
flatexDEGIRO Preliminary results 2023 Enhancing transparency further with new segment reporting Due to brokerage focus, we are replacing historic “FIN” and “TECH” with “flatex” and “DEGIRO Segment “DEGIRO”: online brokerage DEGIRO, Credit & Treasury related to DEGIR Segment “flatex”: online brokerag
Slide 13: Aiming for record year 2024
Aiming for record year 2024 10
Slide 14: Guidance FY 2024
flatexDEGIRO Preliminary results 2023 Guidance FY 2024 Previous years used adjusted key figures (e.g. Adj. revenues, Adj. EBITDA margin, Adj. EBT margin). From 2024, communicated assumptions and forecasts will be without adjustments in order to establish simpler and more transparent key figures Adju
Slide 15: Resolution of key BaFin findings, Implications on regulatory Capital and Capital Allocation
Resolution of key BaFin findings, Implications on regulatory Capital and Capital Allocation 30
Slide 16: Resolution of BaFin findings far advanced already
flatexDEGIRO Preliminary results 2023 Resolution of BaFin findings far advanced already Personnel measures started already in 2022 have been largely completed in 2023, number of employees in relevant departments doubled. For 2024 only a small number of selective personnel additions are planned Compr
Slide 17: CET1 ratio expected to increase to over 30% including 2023 profits
flatexDEGIRO Preliminary results 2023 CET1 ratio expected to increase to over 30%* including 2023 profits Capital Requirement Capital Structure RWA 899 m € + profits 2023 expected € 108recognized once m CET1 available CET1 ratio CET1 ratio 247 m € > 30%* 15.4% (as of June 2023) CET1 required 139 m €
Slide 18: Capital Allocation with first time returns to shareholders
flatexDEGIRO Preliminary results 2023 Capital Allocation with first time returns to shareholders Significant regulatory Capital Surplus and ongoing profits allow for new capital allocation strategy with capital returns to shareholders for the first time. Management and Supervisory Board therefore in
Slide 19: Preliminary Results 2023
56 flatexDEGIRO AG | 28 February 2024 Preliminary Results 2023
Slide 20: Contact
97 Contact Achim Schreck flatexDEGIRO AG Head of IR and Corporate Communications Mobile: +49 160 9277 4570 Address: Omniturm, Große Gallusstraße 16-18 60312 Frankfurt/Main, Germany Phone: +49 69 4500 01 1700 Mail: achim.schreck@flatexdegiro.com Website: www.flatexdegiro.com flatexDEGIRO AG Prelimina