Berliner Effektengesellschaft (BFV) H2 2024 earnings summary

Executive summary

• Acts as a financial holding with key stakes in Tradegate AG (56.6%) and Quirin Privatbank AG (25.3%), focusing on capital market services and banking.

• 2024 saw a significant improvement in group and parent company earnings, driven by higher trading volumes and increased dividends from subsidiaries.

• The group remains highly dependent on capital market conditions, with a stable competitive position in securities trading.

Financial highlights

• Group net income rose to €28.4m in 2024 from €20.1m in 2023; parent company net income increased to €16.3m from €11.6m.

• Earnings per share (EPS) at group level reached €2.65 (2023: €1.78); cost/income ratio improved to 67.6% (2023: 70.0%).

• Dividend of €0.50 per share proposed; group equity ratio at 43.0% (2023: 50.0%).

• Tradegate AG’s normal business profit rose 30.7% to €49.99m; Quirin Privatbank AG contributed €13.2m in net income.

• Group assets increased to €443.9m (2023: €374.9m); 163 employees at year-end.

Outlook and guidance

• Expects stable to slightly rising operating results in 2025, with no major changes in business model.

• Trade volumes in early 2025 up to 50% higher year-over-year; dividend flows from key subsidiaries expected to remain strong.

• No capital increases planned; liquidity to be used for dividends, share buybacks, and strategic reserves.