Flatexdegiro Se · XETR:FTK
Flatexdegiro — Q1 2022 Earnings Presentation
28 slides from Flatexdegiro's earnings presentation, Apr 27, 2022
Slide 1: Strongest Quarter in Company's History
Strongest Quarter in Company’s History after Meme Stock Mania in Q1/21 flatexDEGIRO AG | 27 April 2022
Slide 2: Market Environment in Q1 2022
Market Environment in Q1 2022 Bearish Markets Interest War in Rate Ukraine Hikes Low Inflation Retail Liquidity Covid → Q1 2022 Interim Management Statement | 27 April 2022 | Page 2
Slide 3: Highlights Q1/2022
Highlights Q1/2022 → Strongest quarter ever – apart from Q1/21 → Continuous customer growth → Stable trading activity → Increased revenues per trade → Improved profitability
Slide 4: Continuous Customer Growth
Continuous Customer Growth flatt&>!=DEGIRO
Slide 5: Accelerated addition of Customer Accounts
Accelerated addition of Customer Accounts Additional customer accounts in k 185 161 141 120 Average number of customer additions in Q2-Q4 2021: 142k Q2 2021 Q3 2021 Q4 2021 Q1 2022 → Q1 2022 Interim Management Statement | 27 April 2022 | Page 5
Slide 6: Q1 Customer Growth > 50% over combined Peers
Q1 Customer Growth > 50% over combined Peers 185 -11 -21 -8 145 Core 95 60 Growth Avanza DEGIRO Italy 17 Fineco 18 Nordnet Research Peer net customer growth → Q1 2022 Interim Management Statement | 27 April 2022 | Page 6
Slide 7: Strong Customer wins in Growth Markets, Core Markets with solid delivery on Transactions
Strong Customer wins in Growth Markets, Core Markets with solid delivery on Transactions → Q1 2022 Interim Management Statement | 27 April 2022 | Page 7
Slide 8: Stable trading activity
Stable trading activity flatt&>!=DEGIRO
Slide 9: Growing number of trades
Growing number of trades Settled transactions in m 21.9 19.4 19.8 18.2 Q2 2021 Q3 2021 Q4 2021 Q1 2022 → Q1 2022 Interim Management Statement | 27 April 2022 | Page 9
Slide 10: Stable Trading Activity
Stable Trading Activity Average number of transactions per customer account (annualised) 50 46 45 46 43 43 42 40 41 41 40 35 37 35 34 flatexDEGIRO 30 31 Avanza 25 Nordnet Q2/2021 Q3/2021 Q4/2021 Q1/2022 → Q1 2022 Interim Management Statement | 27 April 2022 | Page 10
Slide 11: Q1 Volatility in Europe higher than in the US
Q1 Volatility in Europe higher than in the US Development NASDAQ 100 VIX vs. Euro Stoxx 50 Volatility VSTOXX (indexed) +48% Reporting War Season Ukraine 240 210 +17% 180 150 120 90 3-Jan 17-Jan 31-Jan 14-Feb 28-Feb 14-Mar 28-Mar NASDAQ 100 VIX Euro Stoxx 50 Volatility VSTOXX → Q1 2022 Interim Manage
Slide 12: Increased Activity with focus on Europe
Increased Activity with focus on Europe Customer activity per quarter Trades per active customer account / quarter 60% 1.000.000 45 40 900.000 35 50% 30 800.000 25 20 700.000 40% 15 10 600.000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 30%
Slide 13: Increased Revenues per Trade
Increased Revenues per Trade
Slide 14: Rising Revenues and ARPU
Rising Revenues and ARPU 120 118.1 250 Revenues in € m 103.4 100 91.2 88.1 € 221 225 80 60 € 207 200 € 206 40 € 186 Share of revenues 175 to inducements relating 20 from trading venues (PFOF) in Q1: 0.7% 0 150 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Revenues ARPU (annualised) → Q1 2022 Interim Management St
Slide 15: Revenues per Trade benefit from "DEGIRO goes Zero"
Revenues per Trade benefit from „DEGIRO goes Zero“ € 5.05 € 4.59 € 4.41 € 4.27 € 4.02 Q1 2021 H1 2021 9M 2021 FY 2021 LTM to March 2022 € 4.02 € 4.70 € 4.83 € 5.22 € 5.39 in Q1 2021 in Q2 2021 in Q3 2021 in Q4 2021 in Q1 2022 → Q1 2022 Interim Management Statement | 27 April 2022 | Page 15
Slide 16: Efficiency Indicators
Efficiency Indicators Revenue 150 Margin* Revenues (in bps) (in EUR m) 472.3 417.6 140 339.8 130 127 132.0 120 117 2019 2020 2021 Q1 2022 (flatex only) (pro forma) (annualised) 110 110 Assets under Custody (in EUR bn) 43.9 43.1 100 103 31.8 90 14.6 80 2019 2020 2021 Q1 2022 (pro forma) (annualised)
Slide 17: Improved profitability
Improved profitability flatt&>!=DEGIRO
Slide 18: Marketing Expenses directed strongly towards building Brand Awareness
Marketing Expenses directed strongly towards building Brand Awareness Allocation of marketing expenses Offline/Brand awareness (TV, Radio, Sponsoring,..) 31% Online Q1 2022: EUR 18.4 m 69% → Q1 2022 Interim Management Statement | 27 April 2022 | Page 18
Slide 19: Higher Brand Awareness drives Preference
Higher Brand Awareness drives Preference Preference* in % 30% 25% 41% flatex and DEGIRO AT 20% aided brand awareness in Q4 2021 15% PT 33% NL 36% 10% 19% 5% ES flatex and DEGIRO 15% 27% IT DE aided brand awareness FR 9% in Q1 2022 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Aided brand awareness in % *
Slide 20: Step Change in Profitability achieved
Step Change in Profitability achieved 60 Adj. EBITDA in € m 54.5 50 40 38.5 34.6 31.0 30 20 10 0 -10 Q2 2021 Q3 2021 Q4 2021 Q1 2022 → Q1 2022 Interim Management Statement | 27 April 2022 | Page 20
Slide 21: IR activity & AGM
IR activity & AGM flatt&>!=DEGIRO
Slide 22: Investor Relations activity May 2022
Investor Relations activity May 2022 5 May London Goldman Sachs 11 May Madrid Berenberg 12 May Paris Exane BNP Paribas 17 May (virtual) Annual General Meeting 23 & 24 May Tarrytown (NY) Berenberg 24 May London Autonomous 25 May Frankfurt Deutsche Bank → Q1 2022 Interim Management Statement | 27 Apri
Slide 23: Additional Supervisory Board member proposed to AGM (17 May 2022)
Additional Supervisory Board member proposed to AGM (17 May 2022) Aygül Özkan Current position: • Managing Director of the German Property Federation (ZIA) • Member of the Supervisory Board of flatexDEGIRO Bank AG since 2022 Professional Career (shortened): • 2016 - 2020 Managing Director/Member of
Slide 24: Strongest Quarter in Company's History
Strongest Quarter in Company’s History after Meme Stock Mania in Q1/21 flatexDEGIRO AG | 27 April 2022
Slide 25: Contact
Contact Achim Schreck flatexDEGIRO AG Head of IR and Corporate Communications Rotfeder-Ring 7 60327 Frankfurt/Main, Germany Mobile +49 160 92774570 Phone +49 69 450001 1700 Mail: achim.schreck@flatexdegiro.com www.flatexdegiro.com
Slide 26: Appendix
Appendix flatt&>!=DEGIRO
Slide 27: Second strongest quarter in history
Second strongest quarter in history Q1 2022 Q4 2021 Change in % KPIs Customer accounts, end of period m 2.21 2.06 +7.0 Customer account additions k 185 141 +31.0 Settled transactions m 21.9 19.8 +10.6 Financials Revenues m EUR 118.1 103.4 +14.2 ARPU, annualised EUR 221 207 +6.8 EBITDA m EUR 51.7 28.
Slide 28: First peers increasing prices
First peers increasing prices BUX: Zero Orders „We created Zero Order to enable anyone to invest commission-free. This order type will remain commission-free for all EU + 50% shares and ETFs. Tero Orders are executed at + 50% the end of the trading day, between 4pm (CET) and market close. If you plc