Flow Traders (FLOW) investor relations material

Executive summary

• Delivered strong Q1 2026 results with net profit of €50.4m, EPS of €1.15, and EBITDA of €72.2m at a 46% margin, driven by robust ETP trading activity and diversified regional performance.

• ETP value traded rose 27% year-over-year to €644bn, with total value traded up 27% to €2,182bn.

• Net trading income reached €155.9m, up 17% year-over-year, and total income was €157.7m.

• Maintained leading ETP liquidity provider status across Europe, Americas, and Asia, with all regions showing significant year-over-year growth.

• Strategic focus on technology, AI, and APAC expansion, including new APAC CEO and 24/7 tokenized asset trading launch.

Financial highlights

• Basic EPS reached €1.15 in Q1 2026, up from €0.84 in Q1 2025.

• Fixed operating expenses were €56.1m in Q1, up 10% year-over-year, mainly due to higher employee and technology costs.

• Trading capital reached a record €1,092m, up 75% since 2Q24.

• Shareholders’ equity increased to €918m, up 17% year-over-year.

• Interest expenses surged to €4.7m from €0.4m in Q1 2025.

Outlook and guidance

• Fixed operating expenses for 2026 guided at €220m–€230m, reflecting ongoing technology investment and targeted hiring.

• No plans for new share buybacks or dividend reinstatement, as capital is prioritized for trading expansion.

• Continued focus on optimizing capital deployment and expanding trading capabilities across asset classes and regions.

• The global ETP market outlook remains robust, with continued growth in value traded and assets under management.