flatexDEGIRO SE · XETR:FTK
flatexDEGIRO — Investor Presentation (May 2025)
44 slides from flatexDEGIRO's investor presentation, May 2025
Slide 1: flatexDEGIRO - Leading European platform for building wealth
flatexDEGIRO - Leading European platform for building wealth May 2025
Slide 2: Disclaimer
Corporate Presentation Disclaimer Non-IFRS measures (APMs) This presentation includes non-IFRS measures. These measures are alternative performance measures as defined by the European Securities and Markets Authority ("ESMA"). flatexDEGIRO presents these non-IFRS measures as (i) they are used by its
Slide 3: Agenda
Agenda 1 flatexDEGIRO at a glance 2 Outlook 2025 3 Strategic Priorities 4 Mid-Term Guidance
Slide 4: flatexDEGIRO at a glance
flatexDEGIRO at a glance
Slide 5: flatexDEGIRO – Leading European platform for building wealth
Corporate Presentation flatexDEGIRO – Leading European platform for building wealth We ensure the highest We prioritize our security for our customers' needs customers' assets We ensure superior We strive to support market access at our communities low costs We are dedicated to We offer local reach
Slide 6: flatexDEGIRO at a glance
Corporate Presentation flatexDEGIRO at a glance Key Operating Metrics 2024 Revenue Model and Contribution Number of Markets Customer Employees accounts 16 countries ~ 1,250 3.1 m Executed Executed Assets under Trades Trade Volume Custody Online Brokerage Credit and Treasury > 63 m ~ 300 bn EUR > 70
Slide 7: Highly experienced and committed Management Board
Corporate Presentation Highly experienced and committed Management Board Oliver Behrens Dr. Benon Janos Stephan Simmang Christiane Strubel CEO CFO CTO Chief HR Officer joined: 2024 joined: 2016 joined: 2016 joined: 2016 Responsibility: Responsibility: Responsibility: Responsibility: • Strategy • Gro
Slide 8: Another record year in 2024
Corporate Presentation Another record year in 2024 Growing customer base drives increase in Settled Transactions (+11 %) Revenue growth of 23 % to 480 m EUR, surpassing previous record of the Covid-/Meme-Stock-Year 2021 (415 m EUR) by 15% Record Net Income achieved, despite some one-time cost effect
Slide 9: Solid start to the year in Q1 2025
Corporate Presentation Solid start to the year in Q1 2025 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 Q
Slide 10: Strong Q1 2025 driven by increased market volatility
Corporate Presentation 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 Incom
Slide 11: Strong commercial performance in FY 2024
Corporate Presentation Strong commercial performance in FY 2024 Monthly customer growth 2024 constantly above 2023 with significant acceleration in Q4 2024 Full-year growth of 421 k (+24 %) close to 2022-level, customer acquisition costs of 75 Euro (reduction of 24 % vs. 2023) Total Assets under Cus
Slide 12: flatexDEGIRO provides its services to mature and well-situated clients
Corporate Presentation flatexDEGIRO provides its services to mature and well-situated clients 75% of customers 22 trades in 2024 between 23-49 years old Increasing share of female Average ~ 5,000 EUR customers per cohort, customer transaction volume standing at 26% in 2024 in 2024 Majority of custom
Slide 13: Leading user experience on award-winning platforms
Corporate Presentation Leading user experience on award-winning platforms flatex and DEGIRO consistently secure top positions in industry rankings
Slide 14: Industry-leading customer growth
Corporate Presentation Industry-leading customer growth Leading customer growth over the last 3 years with CAGR of 14 % Stronger growth only observed at one non-listed peer with currently strong pivot from neo-brokerage towards neo- banking Customer growth CAGR of listed peers (Dec 2021- Dec 2024) A
Slide 15: Stable share of active customers on a growing basis
Corporate Presentation Stable share of active customers on a growing basis Largest active customer base with close to 1 m customers trading in Q4/2024 Share of active customers (per quarter) slightly up in 2024 to > 30 %, with relative stable development over the last 2.5 years Active Customers (at
Slide 16: Stabilized trading activity per customer
Corporate Presentation Stabilized trading activity per customer Range of 20-25 trades per customer p.a. on average stable for the last 2.5 years Trading activity higher at flatex, with very similar trends at both brands Quarterly trading activity (average number of trades per customer, annualized) A
Slide 17: Average commission per transaction further improved
Corporate Presentation Average commission per transaction further improved Increase in 2024 (+8 %) driven by price adjustments in May 2023, positive product mix and higher share of US trades First quarter usually with higher commission per transaction due to booking of annual fees Average commission
Slide 18: Underlying basis of Interest Income with solid growth
Corporate Presentation Underlying basis of Interest Income with solid growth Cash under Custody has grown over the last 3 years by more than 1 bn EUR (37%) from 3 bn EUR to > 4 bn EUR Margin Loan Book has benefitted from customer growth and additional access of DEGIRO customers Cash under Custody (b
Slide 19: Outlook 2025
Outlook 2025
Slide 20: Outlook 2025 unchanged
Corporate Presentation 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
Slide 21: Strategic Priorities
Strategic Priorities
Slide 22: flatexDEGIRO has reached a pivotal stage
Corporate Presentation flatexDEGIRO has reached a pivotal stage Last 3 years Today Next 3 years Challenging market environment for trading: Financial record-year with solid Re-set of interest rate environment in 2025 growth • Uncertainty due to war in Ukraine Increasing retail appetite for investmen
Slide 23: Strategic priorities for the next three years
Corporate Presentation Strategic priorities for the next three years Unlocking potential by switching gears, focusing on commercial projects and achieving scalability on one platform Measures based on leveraging opportunities that are under our control Grow and Strengthen Diversify Product and Incre
Slide 24: Increase Efficiency
Increase Efficiency
Slide 25: Realize efficiency gains and cost control
Corporate Presentation Realize efficiency gains and cost control Acquisition of DEGIRO, strong organic growth and regulatory challenges have led to increased organizational complexity. Initiated cost reductions to be stringently continued Operational efficiency: Catching-up to most relevant peers •
Slide 26: Reduce complexity and increase focus
Corporate Presentation Reduce complexity and increase focus Simplifying organizational structure by moving to a European “SE” Ongoing divestment of non-core financial engagements Organizational changes Full divestment of real estate credit loan portfolio reduces NPL ratio • Alternative portfolio mos
Slide 27: Grow and Strengthen Existing Business
Grow and Strengthen Existing Business
Slide 28: Building on a strong and growing customer base
Corporate Presentation Building on a strong and growing customer base Continuing to grow our customer base by a CAGR of at least 10 %, crossing 4 million by end of 2027 Better supporting trading active customers and reactivating inactive customers Concrete measures Indicative 3-year customer growth
Slide 29: Reactivating existing customers
Corporate Presentation Reactivating existing customers Activity rate slightly below 50 % in 2024, leaving significant potential with known but inactive customers New customer quality increasing in 2023 and 2024, after dilution in particular in 2021 Size of bubble represents Activity of last 10 cohor
Slide 30: Increasing local presence in key markets
Corporate Presentation Increasing local presence in key markets Top 6 countries account for ~ 80 % of total customer base. Next to home markets Netherlands and Germany, more countries have meanwhile reached critical size of well > 100 k customers Largest countries by number of customers Getting clos
Slide 31: Optimizing use of deposits
Corporate Presentation Optimizing use of deposits Current Treasury strategy leaves room for more active strategy without abandoning the fundamentally risk-averse approach Limited offering of Term Deposits adds investment opportunities for customers and strengthens deposit base Simplified deployment
Slide 32: Diversify Product and Service Offering
Diversify Product and Service Offering
Slide 33: Crypto Trading – High transparency & attractive fees define new industry standard
Corporate Presentation Crypto Trading – High transparency & attractive fees define new industry standard Successful launch in Germany in December 2024 to be followed by a European-wide roll-out in 2025 German offering: Fixed total cost of 0.6 % (Majors) to 0.7 % (Minors), including spread & full cos
Slide 34: Crypto Trading – Teaming up with partners to provide best-in-class solutions
Corporate Presentation Crypto Trading – Teaming up with partners to provide best-in-class solutions flatexDEGIRO’s brokerage platforms serve as the single interface to customers Specialized partners ensure highest quality standards and minimize risk & time to market 3 integrated partners 20 most rel
Slide 35: Crypto trading soon to be extended to four more major markets
Corporate Presentation 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
Slide 36: Unlocking recurring revenue potential via Securities Lending
Corporate Presentation Unlocking recurring revenue potential via Securities Lending Valuable enhancement to our product offering, enabling the generation of additional income for our customers and us European retail asset portfolio highly interesting for institutional lending desks Product Split DEG
Slide 37: Saving Plans and Fractional Shares – preparing for pension reforms
Corporate Presentation Saving Plans and Fractional Shares – preparing for pension reforms Enhancing Saving Plans offering to ensure state-of-the-art product choice Increasing need to address the pension gap across Europe Enhancing Savings Plans in Germany German pension reforms • Addition of stock s
Slide 38: Business Process Outsourcing – full-service white-label offering
Corporate Presentation Business Process Outsourcing – full-service offering seamlessly integrated as white-label solution into partner bank's market presence Proven track record since 2013 Online IT-System Retail Investor Non-retail bank Banking Infrastructure IT-Governance • Overnight deposits • Ou
Slide 39: Business Process Outsourcing – offering “Deposits as a Service”
Corporate Presentation Business Process Outsourcing – offering “Deposits as a Service” in an attractive market Positive interest rate environment and regulatory changes create an attractive market opportunity Leveraging existing B2B business to diversify business model and increase share of recurrin
Slide 40: Mid-term Guidance
Mid-term Guidance
Slide 41: Ambition for 2027
Corporate Presentation Ambition for 2027 Accelerate topline growth: Deliver operational leverage: Close valuation gap to peers: • Constantly increase customer base and • Increase share of recurring revenues • Deliver on commercial and financial goals gradually improve trading activity • Maintain ini
Slide 42: Investor Relations Contact
Investor Relations Contact Achim Schreck Laura Hecker Head of IR and Corporate Communications Director Investor Relations Mail: [email protected] Mail: [email protected] Mobile: +49 160 9277 4570 Mobile: +49 160 3064 404 flatexDEGIRO AG Address: Omniturm, Große Gallusstraße
Slide 43: Appendix
Appendix
Slide 44: On a sustainable path - strong track record in flatexDEGIRO's ESG ratings
Corporate Presentation On a sustainable path - strong track record in flatexDEGIRO's ESG ratings flatexDEGIRO achieves above-average ESG ratings from the most important rating agencies and achieved another upgrade of its MSCI rating from A to AA in 2025, confirming our clear commitment to sustainabi