Flow Traders Ltd · EURONEXT:FLOW
Flow Traders — 4Q24 and FY2024 Earnings Presentation
17 slides from Flow Traders's earnings presentation, Feb 13, 2025
Slide 1: Flow Traders Ltd. 4Q24 and 2024 Results
13 FEBRUARY 2025 Flow Traders Ltd. 4Q24 and 2024 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: 4Q24 and 2024 Results Snapshot
4Q24 and 2024 Results Snapshot Record fourth quarter result and second-best annual result in the company’s 20-year history ETP Value Traded (€bn) Total Value Traded (€bn) Total Income (€m) Summary Flow Traders Equity NTI Market Fixed income Other income Flow Traders’ ETP Value Traded CCC 6,248 479
Slide 4: Global ETP Market Continues to Grow in 4Q24 and 2024
Global ETP Market Continues to Grow in 4Q24 and 2024 Record year for ETP fund inflows ETP Value Traded (€bn) * Average Implied Volatility (VIX) 15,085 60 13,676 13,192 GENERAL MARKET DEVELOPMENTS 55 11,640 50 11,411 11,349 11,714 11,979 11,748 Market ETP Valued Traded increased 10,948 10,146 11,014
Slide 5: Fixed Income and Crypto Market Dynamics
Fixed Income and Crypto Market Dynamics Crypto trading volumes more than doubled quarter-on-quarter while Fixed Income declined TRACE Volumes ($bn) MOVE Index US Investment Grade US High Yield 3,115 3,069 2,902 2,915 140 2,708 BOND MARKET DEVELOPMENTS 2,546 701 653 120 2,335 658 640 U.S. Investmen
Slide 6: 4Q24 Regional Performance Overview
4Q24 Regional Performance Overview Market ETP Value Traded (€bn) Flow ETP Value Traded (€bn) Revenue (€m) 4Q24 Highlights +24% +6% +63% 2,518 619 655 274 Trading Capital: Shifted capital to regions and asset classes with greater levels of price dislocations to Europe 2,039 +104% 168 capture more o
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 52 +3% 45 179.1 623 613 601 605 609 174.1
Slide 8: Diversification Strategy Driving Strong Results
Diversification Strategy Driving Strong Results Asia and FICC contributed to the second-best annual result in company history Geographical Mix (NTI, %) Asset Class Mix (NTI, %) 10% 3% 3% 14% 17% 12% 18% 23% 28% 32% 22% 20% 43% 47% 47% 31% 19% 51% 28% 20% 64% 64% 68% 69% 65% 59% 55% 57% 57% 52% 52% 49
Slide 9: Structural Growth Driving Market Outperformance
Structural Growth Driving Market Outperformance Strong performance compared to average VIX 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%
Slide 10: Capital Expansion Plan Accelerates Growth of Trading Capital
Capital Expansion Plan Accelerates Growth of Trading Capital Leading to record levels of Trading Capital and Shareholders’ Equity Trading Capital and Return on Average Trading Capital Shareholders’ Equity and Return on Equity 1,800 164% 180 1,400 101% 110 Trading Capital (€m) Shareholders’ Equity (€
Slide 11: 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 12: 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 13: Q&A
Q&A Flow Traders | 13
Slide 14: Thank You
Thank You FLOW B@TRADERS
Slide 15: Appendix
Appendix FLOW B@TRADERS 15
Slide 16: 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 17: Latest Market ETP Statistics
Latest Market ETP Statistics Flow Traders | 17