Slide 1: Flow Traders Ltd. 2Q 2025 Results
3 1 J U LY 2 0 2 5 Flow Traders Ltd. 2Q 2025 Results Flow Traders |
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Flow Traders Ltd. and is for information purposes only and the material Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly contained in this document is provided ‘as is’. It is not a recommendation to engage
Slide 3: 2Q 2025 Results Snapshot
2Q 2025 Results Snapshot Strong results as market trading volumes and volatility picked up after a prolonged period of muted activity ETP Value Traded (€bn) Total Value Traded (€bn) Total Income (€m) Summary Flow Traders Equity Other NTI Market FICC Other income Flow Traders’ ETP Value Traded incr
Slide 4: Global ETP Market Continues to Grow in 2Q 2025
Global ETP Market Continues to Grow in 2Q 2025 Record quarter for ETP net fund inflows and AUM ETP Value Traded (€bn) * Average Implied Volatility (VIX) 16,509 60 15,085 14,425 GENERAL MARKET DEVELOPMENTS 55 13,676 13,190 50 11,640 11,714 11,981 11,745 Market ETP Valued Traded in the 45 11,411 11,3
Slide 5: Fixed Income and Crypto Market Dynamics
Fixed Income and Crypto Market Dynamics Cryptocurrencies saw a recovery in valuation but a decline in trading volumes and volatility TRACE Volumes ($bn) MOVE Index US Investment Grade US High Yield 3,438 3,447 140 3,115 3,069 BOND MARKET DEVELOPMENTS 2,902 2,915 757 854 120 2,546 701 653 Trading v
Slide 6: 2Q 2025 Regional Performance Overview
2Q 2025 Regional Performance Overview Market ETP Value Traded (€bn) Flow ETP Value Traded (€bn) Revenue (€m) 2Q25 Highlights +45% +55% +35% 1,717 465 159 Europe: Maintained position as a leading liquidity provider in ETPs amidst increased market activity Europe +43% +49% +62% 117 1,178 300 and vol
Slide 7: High Operating Leverage Given Variable Compensation Philosophy
High Operating Leverage Given Variable Compensation Philosophy Balancing growth ambitions and operational efficiencies Fixed Operating Expenses (€m) EBITDA Margin (%) FTEs Employee expenses (fixed) Trading Technology Other Technology expenses Other expenses 47 47 +15% 41 100.5 601 594 605 609 619 607
Slide 8: Structural Growth Driving Market Outperformance
Structural Growth Driving Market Outperformance Strong performance compared to average volatility levels NTI vs. Implied Market Volatility (VIX) EBITDA and EBITDA Margins 1,000 40 700 80 NTI (€m) 35 EBITDA (€m) 900 Average VIX 35 EBITDA Margin (%) 63% 70 600 800 30 51% 52% 60 700 25 500 49% 47% 45%
Slide 9: Record Trading Capital and Shareholders' Equity
Record Trading Capital and Shareholders’ Equity Profitable Growth Continues to Drive Record levels of Trading Capital and Shareholders’ Equity Trading Capital and Return on Average Trading Capital Shareholders’ Equity and Return on Equity 1,200 164% 180 1,200 101% 110 Trading Capital (€m) Shareholder
Slide 10: Supportive Mega Trends Remain Intact as Growth Catalysts
Supportive Mega Trends Remain Intact as Growth Catalysts Four key trends continue to shape Flow Traders’ market environment, offering significant opportunities ETP growth Electronification Digital assets Regulation $25tr ~50% ~$30tr AUM by 2030 Executed volumes Tokenized RWA Conducive in Euro credit
Slide 11: Continued Focus on Key Strategic Pillars
Continued Focus on 4 Key Strategic Pillars To Grow, Strengthen and Accelerate the Business Optimize core & grow trading capital Build an increasingly efficient business model through optimization of our trading core Simultaneously grow our trading capital base to accelerate all existing and new t
Slide 12: Q&A
Q&A FLOW B@TRADERS 12
Slide 13: Thank You
Thank You FLOW B@TRADERS
Slide 14: Appendix
Appendix FLOW B@TRADERS 14
Slide 15: Variable Employee Compensation and Deferral Schedule
Variable Employee Compensation and Deferral Schedule Deferred share awards plan results in deferred variable employee expenses 2024 charge 2025 charge 2026 charge Off balance liability 2026 -33% 11% Share awards amount 2026 -33% 30-35% adjusted 28% share for 2025 -50% awards employee turnover 2026 -
Slide 16: Latest Market ETP Statistics
Latest Market ETP Statistics Flow Traders | 16