EQS-News

Preliminary group result for the 2023 financial year

EQS-News: Netfonds AG / Key word(s): Annual Results Preliminary group result for the 2023 financial year 05.03.2024 / 17:54 CET/CEST The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

Preliminary group result for the 2023 financial year  

Dynamic growth and record sales of EUR 197 million 

• Gross consolidated sales: EUR 197.0 million (previous year: EUR 176.4 million, +11.7%)
• Net consolidated sales: EUR 37.0 million (previous year: EUR 33.6 million, +10.1%)
• EBITDA: EUR 6.2 million (previous year: EUR 6.5 million, -4.6%)
• EBIT: EUR 2.1 million (previous year: EUR 3.0 million, -30.0%)
• EBT: EUR 2.2 million (previous year: EUR 2.0 million, +10.0%)
• Assets under administration: EUR 23.8 billion (previous year: EUR 21.5 billion, +10.7%)

Hamburg, 05 March 2024 - Netfonds AG (ISIN: DE000A1MME74) has closed the 2023 financial year with significant growth based on preliminary and unaudited figures. The core business areas Wholesale (investment and insurance) and Regulatory & Technology (liability umbrella and asset management) increased their revenues by more than 10% compared to the previous year.

The Netfonds Group's gross consolidated sales totalled EUR 197.0 million (previous year: EUR 176.4 million), which corresponds to a significant increase of 11.7%. Net consolidated sales totalled EUR 37.0 million (previous year: EUR 33.6 million) and EBITDA was almost on a par with the previous year at EUR 6.2 million (previous year: EUR 6.5 million). Non-recurring expenses in the area of material costs as well as the dynamic development of assets in the second half of the year led to a certain lag in revenue. Investments in the ongoing development of the finfire platform, including for the insurance sector, also had a dampening effect.

The EBITDA / net sales margin reached 16.8% and the Netfonds Group's EBIT totalled EUR 2.1 million (previous year: EUR 3.0 million). EBT improved by 10% and totalled EUR 2.2 million (previous year: EUR 2.0 million). This reflected, among other things, a net positive interest income.

The Wholesale and Regulatory business divisions continued to be the main revenue drivers. Assets under administration, including fund advisory, developed dynamically, particularly in the second half of the year, reaching a new high of EUR 23.8 billion. Assets under management in the Asset Management and Fund Management divisions also grew dynamically. Over the course of the year, more than EUR 0.5 billion were added and the total amount at the end of the year was around EUR 3.2 billion. In addition to a positive market trend, the increases in both areas were also the result of significant inflows of funds.