Flatexdegiro Se · XETR:FTK
Flatexdegiro — Q1 2025 Earnings Presentation
22 slides from Flatexdegiro's earnings presentation, Apr 29, 2025
Slide 1: Q1 2025 – Interim Management Statement
Q1 2025 – Interim Management Statement 29 April 2025
Slide 2: Disclaimer
Q1 2025 Results Disclaimer Q1 2025 – Interim Management Statement This release contains unaudited information that is subject to change and that is not intended to be complete. Non-IFRS measures (APMs) This presentation includes non-IFRS measures. These measures are alternative performance measures
Slide 3: Today's presenter
Today’s presenter Oliver Behrens Dr. Benon Janos Chief Executive Officer Chief Financial Officer
Slide 4: Today's agenda
Today’s agenda 1 CEO Remarks 2 Q1 2025 Results 3 2025 Outlook
Slide 5: CEO Remarks
CEO Remarks
Slide 6: Highlights
Q1 2025 Results Highlights Strong quarter driven by increase in settled flatex was once again awarded "Broker of transactions. Additional boost in April driven the Year" in multiple categories while by further heightened market volatility DEGIRO won the prestigious "Gouden Stier" award for the secon
Slide 7: Strong Q1 2025 driven by increased market volatility
Q1 2025 Results Strong Q1 2025 driven by increased market volatility VIX Index crossing 50 mark again in April • Q1 2025 was strongest quarter in flatexDEGIRO’s 90 history in terms of Revenues and Earnings 80 70 • Settled Transactions increased by 21% YoY in 60 Q1 2025 50 • Net Interest Income decli
Slide 8: Leading user experience on award-winning platforms
Q1 2025 Results Leading user experience on award-winning platforms flatex and DEGIRO consistently secure top positions in industry rankings
Slide 9: Crypto trading soon to be extended to four more major markets
Q1 2025 Results Crypto trading soon to be extended to four more major markets • Our crypto offering has set new standards in terms of total costs and price transparency in Germany. We exceeded a trading volume of 100 m EUR, with ~ 50k trades and ~ 8k clients (~ 2% of German client base) since the De
Slide 10: Full divestment of real estate credit loan portfolio reduces NPL ratio
Q1 2025 Results Full divestment of real estate credit loan portfolio reduces NPL ratio • Alternative portfolio mostly built during negative ECB rate environment • Ongoing divestments of these non-core activities without pressure • Purchase agreement signed and closed in Q1. The sale price of the tra
Slide 11: Q1 2025 Performance
Q1 2025 Performance
Slide 12: Commercial Performance
Q1 2025 Results Commercial Performance Gross customer additions (k) Assets under Custody (bn EUR) Settled Transactions (m) +15% +31% +21% +13% +6% +16% 75.8 71.5 139 64.6 124 61.1 19.5 121 58.0 16.8 16.1 15.2 14.8 92 85 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Q1/20
Slide 13: Development of Assets under Custody
Q1 2025 Results Development of Assets under Custody Securities (bn EUR) Cash (bn EUR) +31% +28% +6% +8% 71.1 67.2 4.6 4.3 60.9 57.6 54.4 3.7 3.6 3.6 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 13 Note: Rounding differences may occur.
Slide 14: Net Cash Inflows of 3.0 bn EUR in Q1 2025 (+69% YoY)
Q1 2025 Results Net Cash Inflows of 3.0 bn EUR in Q1 2025 (+69% YoY) Net Cash Inflows (bn EUR) 6.6 2023 2024 2025 • Our clients continue to deploy cash onto our platform. We saw positive net cash inflows of ~ 1.0 bn EUR per month on average in Q1 2025 4.5 • Existing customers contributing ~80 % of t
Slide 15: Revenue split
Q1 2025 Results Revenue split Revenues (m EUR) Commission Income (m EUR) Interest Income (m EUR) +19% +31% -1% +15% +27% -3% 146 98 48 44 44 45 127 43 123 119 112 77 75 66 64 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 15 No
Slide 16: Commission per transaction
Q1 2025 Results Commission per transaction +8% +10% 5.02 € 4.64 € 4.57 € 4.26 € 4.33 € 4.32 € 4.16 € 4.11 € 3.99 € Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 16
Slide 17: Cost overview (in m EUR)
Q1 2025 Results Cost overview (in m EUR) Personnel Expenses Marketing and advertising Other administrative expenses expenses 37.1 17.7 3.3 12.0 11.5 16.2 32.0 5.1 14.1 26.2 26.5 26.1 12.8 1.4 1.4 1.4 11.7 7.4 6.5 6.2 33.8 26.9 24.9 25.1 24.7 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q1/2024 Q2/2024 Q3
Slide 18: Profitability development
Q1 2025 Results Profitability development EBITDA (m EUR) Net Income (m EUR) +29% +40% +37% +63% 69 42 54 53 50 46 30 31 26 25 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 18
Slide 19: Outlook
Outlook 2025
Slide 20: Outlook 2025 unchanged
Q1 2025 Results Outlook 2025 unchanged Commission income to grow: Interest income to decline: Cost base to be brought down: • Customer growth and trading • Higher cash position partially due • Current personnel expenses below activity above expectations in to asset sales in declining markets 2024, v
Slide 21: Q&A Session
Q&A Session
Slide 22: Investor Relations Contact
Investor Relations Contact Achim Schreck Laura Hecker Head of IR and Corporate Communications Director Investor Relations Mail: achim.schreck@flatexdegiro.com Mail: laura.hecker@flatexdegiro.com Mobile: +49 160 9277 4570 Mobile: +49 160 3064 404 flatexDEGIRO AG Address: Omniturm, Große Gallusstraße