Sino (XTP) German Fall Conference summary

Strategic developments and partnerships

• Pinegrove Opportunity Partners acquires a 21% stake, replacing HSBC as a major shareholder after 25 years.

• Maintains a 1.77% holding in Trade Republic, valued at €221 million as of December 2025.

• Holds an 8.5% stake in QUIN Technologies, which surpassed 500,000 users and €15 billion in registered assets.

• Strategic cooperation with Baader Bank and State Street IM to enhance product offerings.

Financial performance and forecasts

• Nine-month period saw a 71% increase in executed orders and a 187% rise in pre-tax operating profit.

• Forecast for FY 2025/26 raised to €3.4–4.6 million EBT and €40.8–41.6 million net profit.

• Minimum dividend set at €14.80 per share, with a target price of €140 per share from Warburg Research.

• 15% of Trade Republic stake sold, generating a €38.4 million post-tax gain.

Trade Republic growth and innovation

• Over 10 million customers in 18 countries, with assets under management exceeding €150 billion.

• Launched 24/7 free customer service and new trading technology, including Best Price and Direct Price features.

• Expanded product range to include private markets, crypto, bonds, and children’s accounts.

• Entered non-euro markets, starting with Poland, and introduced France’s Livret A with AXA Banque.