Flatexdegiro Se · XETR:FTK
Flatexdegiro — H1 2024 Earnings Presentation
15 slides from Flatexdegiro's earnings presentation, Jul 24, 2024
Slide 1: H1 2024 – Preliminary Results
FLATEXDEGIRO AG | 24 JULY 2024 H1 2024 – PRELIMINARY RESULTS
Slide 2: Disclaimer
flatexDEGIRO Disclaimer H1 2024 – Preliminary 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. These measures are alternative performance measures as defined b
Slide 3: Highlights
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Highlights Confident to reach upper end Strong start 2024 continued with H1 2024 with record Revenues of FY 2024 Guidance with very solid Q2 performance and and Net Income driven by Revenues up to +15% and positive development of KPIs Commission and Interes
Slide 4: Positive development of major KPIs in Q2 2024
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Positive development of major KPIs in Q2 2024 Comparison to Q2 2023 Commission Income +25% Interest Income +47% Revenues +31% Customer Base +13% Margin Loan Book1 +13% Benefitting from positive mix Gross Margin +3% effects with higher share of Interest Inco
Slide 5: Commercial performance
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Commercial performance Gross customer additions (k) Assets under Custody (bn EUR) Settled Transactions (m) +15% +28% +16% -30% +5% -5% 16.1 121 61.1 15.2 58.0 13.8 51.7 13.5 13.2 47.8 47.0 85 77 77 74 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Jun 23 Sep 23 De
Slide 6: Comparable trading activity across the industry
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Comparable trading activity across the industry Trades per customer account (annualized) flatexDEGIRO Nordnet Avanza 50 45 40 35 30 25 21 20 15 10 5 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024
Slide 7: Development of Assets under Custody
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Development of Assets under Custody in bn EUR 61.1 58.0 51.7 47.8 47.0 Securities: Securities: 57.6 Securities: 54.4 Securities: Securities: 48.1 44.2 43.7 Cash: 3.5 Cash: 3.3 Cash: 3.6 Cash: 3.6 Cash: 3.6 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Note: Rounding d
Slide 8: Net cash inflows of EUR 3.2 bn in H1 2024 (+14% YoY)
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Net cash inflows of EUR 3.2 bn in H1 2024 (+14% YoY) Positive net cash inflows of > EUR 500 m per month on average in H1 2024 in bn EUR +7.2 -4.0 Q1/2024 Q2/2024 -2.0 109% of net cash inflows got re-invested +3.4 -2.0 +3.2 -3.5 +1.5 -1.6 +3.8 +1.8 -1.9 +0.2
Slide 9: Revenue split
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Revenue split Revenues (m EUR) Commission income (m EUR) Interest Income (m EUR) +31% +25% +47% -3% -12% +9% 75 123 48 119 66 44 101 59 100 39 55 38 91 53 32 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q2/2023 Q3/2023 Q4/
Slide 10: Commission per transaction
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Commission per transaction +9% -7% 4.64 € 4.33 € 4.26 € 4.16 € 4.11 € 4.03 € 3.98 € 3.99 € 3.90 € Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024
Slide 11: Profitability in Q2 2024
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Profitability in Q2 2024 EBITDA (m EUR) Net Income (m EUR) +82% +133% ▪ Gross margin benefited from -1% +3% better mix. 52 54 53 31 31 ▪ Marketing expenses reduced 30 despite accelerated growth leads to 1/3 reduction in CAC. 40 ▪ Higher costs related to 21
Slide 12: Half-year comparison
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Half-year comparison Revenues (m EUR) EBITDA (m EUR) Net Income (m EUR) +28% +120% +203% +20% +16% +17% 61 Commission income Interest income Other operating income 106 9 52 92 10 9 92 22 75 26 40 32 59 77 64 32 31 48 20 134 141 126 121 114 H1 22 H2 22 H1 23
Slide 13: Looking at the upper end of FY 2024 Guidance
flatexDEGIRO PRELIMINARY RESULTS - H1 2024 Looking at the upper end of FY 2024 Guidance Revenues +5% to +15% YoY Net Income +25% to +50% YoY
Slide 14: H1 2024 – Preliminary Results
FLATEXDEGIRO AG | 24 JULY 2024 H1 2024 – PRELIMINARY RESULTS
Slide 15: Contact
Contact Achim Schreck flatexDEGIRO AG Head of IR and Corporate Communications Address: Omniturm, Große Gallusstraße 16-18 Mail: achim.schreck@flatexdegiro.com 60312 Frankfurt/Main, Germany Mobile: +49 160 9277 4570 Website: www.flatexdegiro.com Laura Hecker Director Investor Relations Mail: laura.he