Slide 1: Q1 2025 Results Earnings Call
Q1 2025 Results Earnings Call 22.05.2025
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 currently available to Multitude and, accordingly, events or future financial performance of
Slide 3: Key takeaways
Key takeaways • Revenue increased by 4.1% to EUR 66.8m (64.2m) • Impairments decreased by 22% to EUR 22.2m (28.3m) • Net Profit increased by 181% to EUR 7.2m (2.6m) • Increased stake in Lea Bank AB to a total stake of 24.49% • Increased 2025 Net Profit guidance to range EUR 24-26m (from 23m) 3
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: 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 1.5x Net Profit growth t
Slide 8: Multitude Group highlights Q1 2025
Multitude Group highlights Q1 2025 Net profit guidance 2025 increased to EUR 24-26m Highlights Q1 2025 Focus going forward • Revenue increased by 4.1% to EUR 66.8m (64.2m) • Focus on 3 main initiatives to accelerate our Revenue growth and • Impairments decreased by 22% to EUR 22.2m (28.3m) as risk m
Slide 9: Consumer Banking highlights Q1 2025
Consumer Banking highlights Q1 2025 – Significant increase in EBT Highlights Q1 2025 Focus going forward Targets 2025 • EBT increase of 42.7% during Q1 2025 continues • Continued focus on higher-profit markets, • EBT to grow by at least 5% from 2024 the trend of increasing profitability while keepin
Slide 10: SME Banking highlights Q1 2025
SME Banking highlights Q1 2025 – Consistent Revenue growth and reduced credit risk provisions in line with strategic goals Highlights Q1 2025 Focus going forward Targets 2025 • Revenue grew by 11.4% to EUR 8.6m • Focus on 3 main initiatives to accelerate our • Maintain double digit growth Revenue gr
Slide 11: Wholesale Banking highlights Q1 2025
Wholesale Banking highlights Q1 2025 – Strong profitable growth with carefully selected institutional clients Highlights Q1 2025 Focus going forward Targets 2025 • Doubled the net AR from EUR 69.2m to 138.5m • Closing our strong secured debt pipeline • EBT to come in at EUR 4-5m year on year • Impro
Slide 12: Q1 2025 Results
Q1 2025 RESULTS IFRS unaudited financial results for the 3 months ended 31 March 2025 12
Slide 13: Q1 2025: Excellent financial performance
Q1 2025: Excellent financial performance in EURm Q1 2025 Q1 2024 % change Business performance improving further in challenging environment: Interest income 64.4 64.2 0.4 • Revenue grew by 4.1% to EUR 66.8m Interest expense (10.3) (8.6) 20.3 Net interest income 54.1 55.6 -2.7 • Net Operating Income
Slide 14: Balance sheet: Assets
Balance sheet: Asset growth driven primarily by new businesses in EURm 31 March 2025 31 December 2024 % change Asset movements: Cash and cash equivalents 326.0 249.5 30.7 • Increase of 3.1% in Loan Portfolio and Derivative financial assets - 0.1 - Debt Investments: from EUR 762.5m in December 2024 t
Slide 15: Balance sheet: Liabilities and Equity
Balance sheet: Liabilities and Equity in EURm 31 March 2025 31 December 2024 % change Movements in liabilities and Equity shareholders’ equity: Share capital 40.2 40.2 - • Equity of the Group increased to EUR Treasury shares (1.5) (1.0) 61.9 200.7m (+3.6%) Retained earnings 104.5 98.2 6.4 • Net Debt
Slide 16: Segment view – business unit performance
Segment view – business unit performance in EURm Consumer Banking SME Banking Wholesale Banking Group Q1 2025 Q1 2024 % change Q1 2025 Q1 2024 % change Q1 2025 Q1 2024 % change Q1 2025 Q1 2024 % change Interest income 51.9 54.2 -4.1 8.6 7.7 11.4 3.9 2.3 68.9 64.4 64.2 0.4 Interest income share, % 80
Slide 17: Credit loss development
Credit loss development: Actions taken result in significantly lower credit losses Group credit loss development Consumer credit loss development SME credit loss development 28 24 25 24 4 22 22 22 23 23 4 21 21 20 20 19 20 20 20 3 3 18 3 3 2 2 1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EURm 2023 2024 202
Slide 18: Strong asset quality
Strong asset quality - Significant improvement over the year Impairment losses / NAR Balanced growth strategy drives asset quality improvements: • Long-term trend: reducing 12.0% impairment losses over net accounts 9.7% 10.0% receivable (NAR), reflecting solid business growth and robust risk 8.0% ma
Slide 19: Funding structure and cost of debt capital
Funding structure and cost of debt capital Financing mix at 31 March 2025 Financing mix at 31 March 2024 Deposits 2% 0% Multitude AG 8.90% + 3-month Euribor perpetual (IFRS Equity) 4% 6% 6% EUR 888m 8% Multitude AG 0% 7.50% + 3-month Euribor, due 2025 EUR 45m EUR 695m Multitude Bank p.l.c. EUR 3m EU
Slide 20: Financial targets: Net Profit expected to increase significantly
Financial targets: Net Profit expected to increase significantly Multitude Group Net Profit Our Guidance framework • EBIT increased by 50% annually from 2021 to 2024, meeting or outperforming our guidance targets each year. 35 30 • We have achieved this consistently for the full period 2021-2024! 30
Slide 21: Adam Hansson Tönning - New Head of IR and Treasury
Adam Hansson Tönning - New Head of IR and Treasury • Adam Hansson Tönning assumes the role of Head of IR and Treasury effective today • Multitude since 2010, most recently as Head of Financial Planning & Analysis • Adam is based in Stockholm, Sweden • Has worked for the Company in various positions
Slide 22: Key takeaways
Key takeaways • Revenue increased by 4.1% to EUR 66.8m (64.2m) • Impairments decreased by 22% to EUR 22.2m (28.3m) • Net Profit increased by 181% to EUR 7.2m (2.6m) • Increased stake in Lea Bank AB by 14.59% to a total stake of 24.49% • Increased 2025 Net Profit guidance to range EUR 24-26m (from 23
Slide 23: Q&A
Q&A 23
Slide 24: Thank you !
Thank you ! ir@multitude.com MULTITUDE AG