Multitude Ag · XETR:MULT
Multitude — EF Equity Forum – German Fall Conference 2024
20 slides from Multitude's conference presentation, September 2024
Slide 1: Multitude SE
Multitude SE EF Equity Forum – German Fall Conference Lasse Mäkelä September 2024
Slide 2: Important notice
Important notice This presentation contains, or may be deemed to All forward-looking statements included herein are based contain, forward-looking statements. These statements on information presently available to Multitude and, relate to future events or future financial performance of accordingly,
Slide 3: H1 2024 Key takeaways
H1 2024 Key takeaways • Revenue increased by 17.0% to EUR 128.8m y-o-y • All 3 business units are delivering at least double-digit revenue growth y-o-y • EBIT increased by 34.5% to EUR 28.3m y-o-y • On track to our EUR 67.5m EBIT guidance for 2024 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, for overlooked making them fast, c
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: Our growth is built on three fundamentals: Organic development, partnerships and acquisitions
Our growth is built on three fundamentals: Organic development, partnerships and acquisitions • Enhance customer-facing and internal processes ORGANIC DEVELOPMENT • Product and country portfolio expansion • Bolster our unique selling points (USP) for customers • With sales allies PARTNERS • With whi
Slide 8: Significant growth potential for all our business units
Significant growth potential for all our business units* EUR EUR EUR 24.9 bn Total Outstanding Portfolio 14.8 bn 15.7 bn Total Outstanding Portfolio Total Outstanding Portfolio Our Current Share-% Our Current Share-% Our Current Share-% *Total 8 Addressable Market; Full Potential For The Products an
Slide 9: 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 ESG DRIVEN FINTECH PROFIT 2.5x Net profit gro
Slide 10: Consensus estimate for Multitude share is EUR 9.73 vs current price of EUR 5.27
Consensus estimate for Multitude share is EUR 9.73 vs current price of EUR 5.27 (28.8.2024) Details of the share Current Analyst views of the share Company: Multitude SE ISIN: MT0002810100 WKN: A40G1Q Ticker: E4I Mkt Cap: EUR 114m Share price performance (12 M) 10
Slide 11: Financial overview: Strong performance continues
Financial overview: Strong performance continues in EURm H1 2024 H1 2023* %/pp change Strong business performance in challenging environment: Interest income 128.8 110.1 17.0 Interest expense (18.7) (8.8) 111.4 • Revenue grew by 17.0% to EUR 128.8m Net interest income 110.2 101.3 8.8 • Net interest
Slide 12: Balance sheet: Assets in line with business growth and performance
Balance sheet: Assets in line with business growth and performance Asset movements: in EURm Jun 2024 Dec 2023 % change • Cash level actively reduced due Cash and cash equivalents 219.0 283.7 -22.8 to higher deposit interest costs. Cash stood at EUR 219.0m in H1 Derivative financial assets 0.1 0.3 -8
Slide 13: Balance sheet: Liabilities and shareholders' equity
Balance sheet: Liabilities and shareholders‘ equity in EURm Jun 2024 Dec 2023 % change Movements in liabilities and Equity shareholders’ equity: Share capital 40.2 40.1 0.1 • Equity of the group increased Treasury shares (0.1) (0.1) 43.4 slightly to EUR 184.2m Retained earnings 88.0 87.3 0.8 • ND/E
Slide 14: Segment view – business unit performance
Segment view – business unit performance in EURm Consumer banking SME banking Wholesale banking Group H1 2024 H1 2023 % change H1 2024 H1 2023 % change H1 2024 H1 2023 % change H1 2024 H1 2023 % change Interest income 107.6 97.1 10.9 16.0 11.2 43.7 5.1 1.8 182.3 128.8 110.1 17.0 Interest income shar
Slide 15: Strong asset quality - impairment losses remain around 4%
Strong asset quality - impairment losses remain around 4% Impairment losses / NAR Balanced growth strategy drives asset quality improvements: • Long-term trend: Continuous 12.0% 2019 2020 2021 2022 2023 2024 improvement in impairment losses over net accounts receivable 9.7% 10.0% (NAR) 2.2 8.0% 7.2%
Slide 16: Solid cash base
Solid cash base Cash to Deposits in % Cash in EURm 500 100% 90.6% 450 90% 86.2% 82.9% 400 382 80% 75.6% 73.5% 70.1% 70.1% 66.8% 350 69.9% 65.1% 312 63.5% 70% 66.9% 63.0% 299 302 300 64.2% 63.1% 284 60% 62.3% 267 265 50.7% 53.0% 238 250 227 225 219 50% 213 213 167 35.1% 33.6% 197 38.7% 200 171 30.6%
Slide 17: Funding structure and cost of debt capital
Funding structure and cost of debt capital Financing mix at 30 June 24 Financing mix at 30 June 23 Deposits Multitude SE 8.90% + 3-month Euribor perpetual (IFRS Equity) EUR 3m EUR 3m EUR 26m*) Multitude Bank p.l.c. EUR 46m 6% fixed rate Tier 2 bond 2032 (Reg. Capital) EUR 678m EUR 567m EUR 45m Multi
Slide 18: Key takeaways
Key takeaways • Revenue increased by 17.0% to EUR 128.8m y-o-y • All 3 business units are delivering at least double-digit revenue growth y-o-y • EBIT increased by 34.5% to EUR 28.3m y-o-y • On track to our EUR 67.5m EBIT guidance for 2024 18
Slide 19: Q&A
Q&A 19
Slide 20: Thank you !
Thank you ! ir@multitude.com MULTITUDE SE
Multitude — EF Equity Forum – German Fall Conference 2024 on 6ix