DGAP-News

Baader Bank continues strong growth in first quarter of 2021 - Seite 3

Outlook for 2021

Thanks to the solid capital and liquidity base, the consistently high trading volumes can be handled reliably even during particularly volatile market phases. With its powerful, fail-safe IT and process infrastructure, Baader Bank is a resilient partner in the global capital market environment and in securities-related trading and banking services.

An excellent market position in on- and off-exchange Market Making in Germany as well as the successful cooperation business with fintechs such as neo-brokers and digital asset managers has allowed Baader Bank to develop a highly profitable, integrated business model that is unique and can tap into the market and earnings potential of the newly created trading culture, in Germany in particular. This is accompanied by a moderate expansion of business in the traditional business divisions. The outstanding start to 2021 shows that focusing on this business model is positioning Baader Bank well for future income and earnings growth.

If framework conditions remain consistent as 2021 continues, the Board of Directors expects that trading activity from private investors and institutional investors will continue to be above average, that the cooperation business will grow significantly and that uptake of account and custody account services will remain strong. So it expects earnings before tax at Group level for this financial year to exceed the 2020 result of EUR 56.0 million. However, trends from the first quarter of 2021 cannot necessarily be extrapolated to the year as a whole.

 

Overview of key figures²
 

Baader Bank Group Income statement key figures	01/01-31/03/21	01/01-31/03/20	Delta
	In EUR mn	In EUR mn	in %
Income	91.8	61.0	50.5
of which
Net interest income and current income	-0.3	-0.6	50.6
Net commission income	8.4	14.6	-42.4
Commission revenues	30.9	27.8	11.2
Net trading income	76.8	43.4	77.1
Revenues	3.1	3.2	-4.1
Other income	3.8	0.4	850.0
Expenses	-58.9	-50.4	16.9
of which
Personnel expenses	-24.9	-11.3	120.6
Other administrative expenses and other operating expenses	-12.6	-11.9	6.0
Amortisation, depreciation on intangible assets and property, plant and equipment	-1.96	-1.97	-0.3
Other depreciation/amortisation/risk provision	-1.1	-10.2	-89.1
Transfers to fund for general banking risks	-18.4	-15.0	22.6
Earnings before tax (EBT)	32.8	10.7	208.0
Operating result³	49.1	36.6	34.2