DGAP-News

Baader Bank on growth path

DGAP-News: Baader Bank AG / Key word(s): Annual Results Baader Bank on growth path 19.03.2021 / 07:28 The issuer is solely responsible for the content of this announcement.

Baader Bank on growth path

Baader Bank delivers extraordinary group results for 2020: Earnings before tax came to EUR 56.0 million (previous year: EUR 68,000), while total revenue increases to EUR 212.7 million (previous year: EUR 104.3 million) and the Group's operating result was EUR 81.5 million (previous year: EUR -8.0 million). The main factors contributing to this result are a very high trading income, higher commission income and largely positive contributions from the Group's subsidiaries.

Continued high trading volume on the stock exchanges and more than twice as many accounts and custody accounts

The course of Baader Bank's business in 2020 was characterised by both a very high trading volume on the stock exchanges and trading platforms and by the structural and sustainable development of its business lines. In particular, the integrated business model developed by Baader Bank, with securities trading and account/custody account management all in one place, coincided with the emerging stock exchange culture in Germany. In November 2020, Baader Bank reached the milestone of 100,000 custody account clients, meaning that it can now take on a pioneering role and thereby give the Group a further surge in growth.

At a Group level, the previous year's trading income rose significantly by more than 250% to EUR 168.2 million (previous year: EUR 46.1 million). Commission income also increased, including in the Multi Asset Brokerage and Research business lines. The Account and Custody business with asset managers continued to develop very well and these developments worked to underpin the development of the commission income. Higher trading volumes bring with them higher commission expenses, meaning that net commission income for 2020 decreased slightly by 4% to EUR 31.0 million (previous year: EUR 32.1 million).