Berliner Effektengesellschaft (BFV) H1 2024 earnings summary

Executive summary

• Significant improvement in the market environment for equity and ETF trading with private investors in H1 2024, leading to increased transaction volumes and revenues despite ongoing geopolitical crises and high interest rates.

• Transaction count rose by 26.8% year-over-year to 23.93 million, and trade volume increased by 30.4% to €160.05 billion.

• Launch of tradegate.direct expands product offerings and aims to provide direct, cost-free access to Tradegate Exchange for clients whose banks do not offer this service.

Financial highlights

• Net income for H1 2024 was €15.56 million, up 10.2% from €14.12 million in H1 2023.

• Earnings per share increased to €1.18 from €1.06 year-over-year.

• Result from ordinary activities rose 12.4% to €23.28 million compared to H1 2023.

• Cost/income ratio increased to 71.01% from 67.27% year-over-year.

• Equity ratio decreased to 63.07% from 68.02% year-over-year.

Outlook and guidance

• Expectation of a significant increase in annual revenue for 2024 compared to the previous year, with a satisfactory consolidated result.

• No extraordinary risks currently identified; market volatility anticipated due to geopolitical events and the US presidential election, potentially boosting trading activity and margins.

• New business fields from tradegate.direct not expected to cover fixed costs in 2024.