Slide 1: 2024 Preliminary Results Earnings Call
2024 Preliminary Results Earnings Call 03.04.2025
Slide 2: Important notice
Important notice This presentation contains, or may be deemed to contain, All forward-looking statements included herein are based on forward-looking statements. These statements relate to future information currently available to Multitude and, accordingly, events or future financial performance of
Slide 3: Key takeaways
Key takeaways • EBIT guidance achieved: EUR 67.6m in 2024 • Revenue increased by 14.4% to EUR 263.7m • Net Profit increased by 23.1% to EUR 20.2m • Net Profit guidance unchanged at EUR 23m for 2025 and EUR 30m for 2026 • Dividend proposal for the AGM: EUR 0.44 per share ▪ EUR 0.24 base dividend + EU
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, Respect, for overlooked making the
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: 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 FUTURE PROFIT UPSIDE 1.5x Net Profit growth t
Slide 8: Multitude Group highlights 2024
Multitude Group highlights 2024 – Strong profitability with double-digit growth rate in Net Profit and Revenue Highlights 2024 Focus going forward • Both Revenue and Net Profit growing strongly; demand remains robust • Focus on three growth initiatives: Organic, Partnerships and M&A • Positive trend
Slide 9: Consumer Banking highlights 2024
Consumer Banking highlights 2024 – Solid performance and consistent growth Highlights 2024 Focus going forward Targets 2025 • EBIT increase of 45.1% during 2024 strongly • Continued focus on higher-profit markets, Targets will be published with Q1 2025 results outperformed our target of 5% partnersh
Slide 10: SME Banking highlights 2024
SME Banking highlights 2024 – Consistent Revenue growth and reduced credit risk provisions in line with strategic goals Highlights 2024 Focus going forward Targets 2025 • Priority given to investment in growth over a • Focus on 3 main initiatives to accelerate our Targets will be published with Q1 2
Slide 11: Wholesale Banking highlights 2024
Wholesale Banking highlights 2024 – Strong profitable growth with carefully selected institutional clients Highlights 2024 Focus going forward Targets 2025 • Increased in-house expertise and faster deal • Closing our strong secured debt pipeline Targets will be published with Q1 2025 results origina
Slide 12: ESG - Key highlights
ESG - Key highlights 2025 Priorities E Understand and reduce S Monitor, G Embed ESG-conscious the Group environmental report on and improve practices footprint stakeholder wellbeing o Total GHG emissions (market-based) in 2024 2023 2024 2025 Target o Enhanced internal methodologies and increased by
Slide 13: New CEO appointment January 2025 – Antti Kumpulainen
New CEO appointment 1 January 2025 – Antti Kumpulainen Why this change? Antti Kumpulainen The founder seeks to reduce time spent on daily • Nine successful years in Multitude from which first years operations, focusing fully on high-impact strategic as country manager, followed by commercial leader
Slide 14: First 100 days as CEO
First 100 days as CEO Improving Efficiency Leading by Data • Organisational structure simplified and made leaner • Data-driven decision-making implemented across the organisation • Teams reallocated closer to business for greater impact • Results: smarter and more effective processes • Results: fast
Slide 15: 2024 Results
2024 RESULTS IFRS preliminary unaudited financial results for the year ended on 31 December 2024 15
Slide 16: 2024: Excellent financial performance
2024: Excellent financial performance in EURm 2024 2023 %/pp change Business performance improving further in challenging environment: Interest income 261.1 230.5 13.3 Interest expense (40.9) (22.2) 83.7 • Revenue grew by 14.4% to EUR 263.7m Net interest income 220.2 208.2 5.8 • Net Operating Income
Slide 17: Credit loss development: Actions taken result in significantly lower credit losses
Credit loss development: Actions taken result in significantly lower credit losses Group credit loss development Consumer credit loss development SME credit loss development 28.3 23.8 24.2 3.9 4.0 22.8 21.5 18.3 19.7 19.6 3.1 3.2 22.6 2.9 24.9 20.9 21.3 22.2 20.1 19.7 20.2 2.0 1.6 0.8 Q1 Q2 Q3 Q4 Q1
Slide 18: Balance sheet: Asset growth driven primarily by new businesses
Balance sheet: Asset growth driven primarily by new businesses in EURm 2024 2023 % change Asset movements: Cash and cash equivalents 249.5 283.7 -12.1 • Significant increase of 19.5% in Loan Portfolio and Investments: from EUR Derivative financial assets - 0.3 - 638.0m in December 2023 to EUR Loans
Slide 19: Balance sheet: Liabilities and Equity
Balance sheet: Liabilities and Equity in EURm 2024 2023 % change Movements in liabilities and Equity shareholders’ equity: Share capital 40.2 40.1 0.1 • Equity of the Group increased to EUR Treasury shares (0.9) (0.1) 817.9 193.7m (+5.5%) Retained earnings 98.2 87.3 12.6 • Net Debt to Equity ratio:
Slide 20: Segment view – business unit performance
Segment view – business unit performance Consumer Banking SME Banking Wholesale Banking Group in EURm 2024 2023 % change 2024 2023 % change 2024 2023 % change 2024 2023 % change Interest income 214.4 201.7 6.3 33.6 23.7 41.8 13.1 5.1 156.8 261.1 230.5 13.3 Interest income share, % 82.1 87.5 -5.4 12.
Slide 21: Strong asset quality
Strong asset quality - Significant improvement over the year Impairment losses / NAR Balanced growth strategy drives asset quality improvements: 2020 2021 2022 2023 2024 • Long-term trend: stabilised 12.0% impairment losses over net accounts receivable (NAR), reflecting solid 9.7% 10.0% business gro
Slide 22: Solid cash balance
Solid cash balance Cash to Deposits in % Cash in EURm 500 100% 90.6% 450 90% 86.2% 82.9% 400 80% 382 73.5% 70.1% 66.9% 70.1% 69.9% 66.8% 350 312 63.5% 70% 75.6% 65.1% 63.0% 64.2% 299 302 300 62.3% 63.1% 284 60% 267 265 50.7% 267 53.0% 249 250 238 50% 227 225 219 213 213 35.1% 33.6% 30.6% 197 167 38.
Slide 23: Funding structure and cost of debt capital
Funding structure and cost of debt capital Financing mix at 31 December 2024 Financing mix at 31 December 2023 0% Deposits 0% 6% 5% 8% 6% Multitude AG 8.90% + 3-month Euribor perpetual (IFRS Equity) EUR 3m EUR 3m Multitude Bank p.l.c. EUR 46m 6% fixed rate Tier 2 bond 2032 (Reg. Capital) EUR 801m EU
Slide 24: Financial targets: Net Profit expected to increase significantly
Financial targets: Net Profit expected to increase significantly Multitude Group Net Profit Our Guidance framework • EBIT increased by 50% annually from 2021 to 2024, meeting or outperforming our guidance targets each year. 35.0 • We have achieved this consistently for the full period 2021-2024! 30.
Slide 25: Key takeaways
Key takeaways • EBIT guidance achieved: EUR 67.6m in 2024 • Revenue increased by 14.4% to EUR 263.7m • Net Profit increased by 23.1% to EUR 20.2m • Net Profit guidance unchanged at EUR 23m for 2025 and EUR 30m for 2026 • Dividend proposal for the AGM: EUR 0.44 per share ▪ EUR 0.24 base dividend + EU
Slide 26: Q&A
Q&A 26
Slide 27: Thank you!
Thank you ! ir@multitude.com MULTITUDE AG