EQS-News: Preliminary group result for the 2024 financial year

PRESS RELEASE

Preliminary group result for the 2024 financial year 

Record revenues of EUR 237.6 million in 2024 and accelerating growth in the fourth quarter

• Gross consolidated revenues: EUR 237.6 million (previous year: EUR 192.9 million, +23.2%)
• Net consolidated revenues: EUR 45.9 million (previous year: EUR 36.6 million, +25.4%)
• EBITDA: EUR 8.4 million (previous year: EUR 4.9 million, +71.4%)
• EBIT: EUR 3.8 million (previous year: EUR 1.3 million, >100%)
• EBT: EUR 3.2 million (previous year: EUR 0.7 million, >100%)
• Assets under administration: EUR 28.3 billion (previous year: EUR 23.8 billion, +18.9%)

Hamburg, 18 March 2025 - Netfonds AG (ISIN: DE000A1MME74) has closed the 2024 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 wealth management) increased their revenues by more than 20% compared to the previous year. 

The Netfonds Group's gross consolidated revenues totalled EUR 237.6 million (previous year: EUR 192.9 million). This represents a significant increase of 23.2% and clearly exceeds the forecast of EUR 225 - 230 million. Net consolidated revenues totalled EUR 45.9 million (previous year: EUR 36.6 million), also well above the forecast of EUR 41.5 - 43.0 million. At EUR 8.4 million (+71.4%), EBITDA was well above the previous year's level (previous year: EUR 4.9 million). 

The fourth quarter was the best quarter in Netfonds' history in terms of income, with gross income of around EUR 69 million (+24.8%) and net income of a good EUR 14 million (+36%).

On the earnings side, one-off charges totalling around EUR 1.1 million were recognised in the year as a whole. Of this, around EUR 0.4 million is attributable to the restructuring of the insurance division and EUR 0.7 million to a provision for potential legal risks for a case from 2021.

The EBITDA / net revenues margin reached 18.3% and the Netfonds Group's EBIT totalled EUR 3.8 million (previous year: EUR 1.3 million). EBT totalled EUR 3.2 million (previous year: EUR 0.7 million). 

As in previous years, the investment sector was the strongest area. Assets under administration, including fund advisory, once again developed strongly and reached a new high of EUR 28.3 billion.

Assets under management in wealth and fund management developed just as dynamically. More than EUR 800 million were gained over the course of 2024 and the total volume at the end of the year was around EUR 4 billion for the first time. In addition to positive market developments, the increases also resulted from significant inflows. 

Revenues in the insurance sector increased by around 10% in 2024. In particular, the use of the finfire platform by connected advisors and customers lays the foundation for further scalable growth.

"The pleasing growth in assets continued in 2024 with a new all-time high. In addition, the positive performance of the asset management, regulatory including the liability umbrella, fund advisory and management divisions forms a strong basis for the positive business development. The scalability of our digital 360-degree platform finfire as a central advisory and sales tool for investment and insurance advisors will also continue to support our dynamic growth," says Martin Steinmeyer, CEO of Netfonds AG.

Based on the preliminary business figures for 2024, the key figures are as follows:
 
Forecast for the 2025 financial year

For the 2025 financial year, the Management Board continues to expect a dynamic development of the business volume and significantly profitable growth. The Netfonds Group expects an organic increase in net consolidated revenue of more than 10% to over EUR 50 million. A disproportionately high increase in EBITDA and EBIT is also expected, as the scalability of the finfire platform continues to increase and segments such as wealth management are growing at a significantly higher rate.

The publication of the audited and certified annual financial statements and the detailed annual forecast is planned for May 2025.

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Netfonds AG
Heidenkampsweg 73
20097 Hamburg
Germany

Investor Relations
Philip Angrabeit
Tel.:         +49 40 822 267 142
Mobile:    +49 1522 1954 561
E-mail:     pangrabeit@netfonds.de

Further information
www.netfonds-group.com

About the Netfonds Group
The Netfonds Group is a leading platform for administration, consulting and regulation for the German financial industry. Under the finfire brand, the company provides its customers and partners with a cloud-based technology platform for the complete processing and administration of business transactions. Netfonds' customers thus benefit from one of the most modern software solutions on the market, which significantly simplifies the advisory process, makes it secure and enables target group-specific advice. The shares of Netfonds AG are listed in the m:access segment of the Munich Stock Exchange and can be traded via XETRA.