Flatexdegiro Se · XETR:FTK
Flatexdegiro — Q4 2021 Earnings Presentation
23 slides from Flatexdegiro's earnings presentation, Mar 1, 2022
Slide 1: Record year and strong financials in Q4
56 flatexDEGIRO AG | Prelminary Results 2021 Record year and strong financials in Q4
Slide 2: Disclaimer
flatexDEGIRO Preliminary Results 2021 Disclaimer Preliminary results This release contains preliminary 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 a
Slide 3: Significant growth on all metrics..
flatexDEGIRO Preliminary Results 2021 Significant growth on all metrics.. Customer Accounts (in m) Assets under Custody (in EUR bn) Transactions (in m) +55% 2.06 43.9 91 +38% +21% 1.33 31.8 75 2020 2021 2020 2021 2020* 2021 Revenues (in EUR m) Marketing expenses (in EUR m) Adj. EBITDA pre marketing
Slide 4: ..outgrowing all major peers.
flatexDEGIRO Preliminary Results 2021 ..outgrowing all major peers. New customer growth 2021 Sum 1.098k (+19%) 380k Nordnet (+31%) 380k Avanza (+30%) >730k (+55%) 200k Hargreaves Lansdown (+13%) 80k (+23%) Swissquote* 58k (+4%) Fineco * LTM to June 2021 flatexDEGIRO Most relevant peers 3
Slide 5: Super capital light business..
flatexDEGIRO Preliminary Results 2021 Super capital light business.. Commissions Commission income: 93% Securities: EUR 340 m EUR 41.0 bn (96 bps) Total Assets under Liquidity portfolio Future opportunity given potential interest increases Custody (~ EUR 1.5 bn) 7% Deposits: EUR 2.8 bn 84% margin In
Slide 6: ..with high quality credit book.
flatexDEGIRO Preliminary Results 2021 ..with high quality credit book. AuC in 2021 Usage of deposits Credit book 1.344 (EUR m) (EUR m) 220 1.495 Liquidity EUR 44 bn 297 1.098 93% Securities 7% 1.124 Deposits Margin 1.344 603 loans 900 Credit 2020 2021 2020 2021 Credit losses Credit losses in % 0.03%
Slide 7: Efficiency indicators
flatexDEGIRO Preliminary Results 2021 Efficiency indicators Revenue by income type Revenue Margin by Product* (in EUR m) 19 (in bsp) 17 59 250 242 242 37 340 286 35 26 15 200 12 85 90 2018 2019 2020 2021 153 Commisions Interests Others 150 132 118 Assets under Custody by Product (in EUR bn) 3 100 96
Slide 8: Trading activity adds to long term growth - but doesn't determine it
flatexDEGIRO Preliminary Results 2021 Trading activity adds to long term growth - but doesn’t determine it Vision 2026 2022(e) 250m-350m 350 95m-115m (@40 trades/customer account p.a.) (@40-45 trades/customer account p.a.) Trades at baseline 300 trading activity of 2021 40 trades/customer account p.
Slide 9: Revenues per trade on the rise..
flatexDEGIRO Preliminary Results 2021 Revenues per trade on the rise.. Immediate upside potential -DEGIRO goes ZERO (Dec 2021) -ETP Partnership (Dec 2021) 4.59 -Early & Late Trading (Aug 2021) Medium-term dilution 4.41 -through profitable international growth 4.27 4.02 General level assumed for Visi
Slide 10: ..with prudent savers & investors.
flatexDEGIRO Preliminary Results 2021 ..with prudent savers & investors. AuC share by product Revenue share by product 3% 4% 5% 5% 25% 23% 2021 2021 68% 67% Stocks ETF ETP Other 9
Slide 11: Excellent quality of loyal customer base drives future success
Excellent quality of loyal customer base drives future success 10
Slide 12: Stable contribution of each cohort, stellar growth over the last 24 months
flatexDEGIRO Preliminary Results 2021 Stable contribution of each cohort, stellar growth over the last 24 months Long-term revenue contribution of cohorts Trade related revenues p.a. (€ m) Cohorts 350 2021 300 2020 250 2019 2018 200 2017 150 2016 100 2015 50 <= 2014 - 2018 2019 2020 2021 11
Slide 13: Share of "medium-active" customers increased significantly over time
flatexDEGIRO Preliminary Results 2021 Share of „medium-active“ customers increased significantly over time Share of trades per customer account in relation to total trades of active customers 3% 2% 9% 8% 8% 9% 2018 49% 2021 45% 12% 45% 13% 40% 2% 20% 22% 1-10 11-25 26-50 51-100 101-500 >500 12
Slide 14: Strong revenue generation across all AuC cohorts
flatexDEGIRO Preliminary Results 2021 Strong revenue generation across all AuC cohorts Share of AuC per customer account in EUR in relation to total number of funded accounts and ARPU in 2021 €44 ARPU €612 21% 23% 31% 31% 2018 2021 7% €44 6% 7% 7% 11% 11% €55 10% 11% 11% 12% €140 €74 0-200 201-500 5
Slide 15: AuC of customers growing steadily with age..
flatexDEGIRO Preliminary Results 2021 AuC of customers growing steadily with age.. Average AuC in € in % of total customers 90k 5.00% 80k 4.50% 4.00% 70k 3.50% 60k 3.00% 50k 2.50% 40k 2.00% 30k 1.50% 20k 1.00% 10k 0.50% 0 0.00% 20 25 30 35 40 45 50 55 60 65 70 75 80 Average AuC (31.12) Share of new
Slide 16: .. in line with annual revenue contribution.
flatexDEGIRO Preliminary Results 2021 .. in line with annual revenue contribution. ARPU in € in % of total customers 700 5.00% 4.50% 600 4.00% 500 3.50% 3.00% 400 2.50% 300 2.00% 200 1.50% 1.00% 100 0.50% 0 0.00% 20 25 30 35 40 45 50 55 60 65 70 75 80 Average revenue 2021 Share of new customers 2020
Slide 17: High activity levels of client base
flatexDEGIRO Preliminary Results 2021 High activity levels of client base Customer activity per quarter Trades per active customer account / quarter 60% 1m 45,00 40,00 900k 35,00 30,00 50% 25,00 800k 20,00 15,00 700k 10,00 40% 5,00 600k 0 9 9 9 9 0 0 0 0 1 1 1 1 02 02 02 02 01 01 01 01 02 02 02 02 3
Slide 18: Retaining the right customers 2021 - low churn on all metrics
flatexDEGIRO Preliminary Results 2021 Retaining the right customers LTM trading activity of leavers very significantly below average trading activity in the year 75 2021 - low churn on all metrics 56 54 Churned* Customer accounts 45 ~ 50k (2.5%) Churned* Trades 29 (LTM before churn) -35% 23 1.2m (1.
Slide 19: Before we get to Q&A
Before we get to Q&A 18 70
Slide 20: True stories of investing
flatexDEGIRO Preliminary Results 2021 True stories of investing Product Our mission is to make investing accessible to everyone who wants to shape their own financial future in a smart and responsible way. We do this with a high- quality, user-friendly and cost-efficient investment platform, but als
Slide 21: Financial calendar 2022
flatexDEGIRO Preliminary Results 2021 Financial calendar 2022 2022 29 March Annual report 2021 26 April Q1 / 2022 Interim Management Statement 17 May Annual General Meeting 30 August H1 / 2022 Financial Report 25 October Q3 / 2022 Interim Management Statement 20
Slide 22: Record year and strong financials in Q4
56 flatexDEGIRO AG | Preliminary Results 2021 Record year and strong financials in Q4
Slide 23: Contact
97 Contact Achim Schreck flatexDEGIRO AG Head of IR and Corporate Communications Mobile: +49 160 92774570 Address: Rotfeder-Ring 7 Phone: +49 69 450001 1700 60327 Frankfurt/Main, Germany Mail: achim.schreck@flatexdegiro.com Website: www.flatexdegiro.com flatexDEGIRO AG Preliminary Results 2021