Sino (XTP) H1 24/25 earnings summary

Executive summary

• Focus on high-end brokerage for active traders, with a growing customer base and expanded product portfolio.

• Significant minority stakes in fintechs, notably Trade Republic (approx. 2.08% economic interest).

• Early renewal of key partnership with Baader Bank AG, supporting business stability.

Financial highlights

• Consolidated revenues rose to €4.4M in H1 2024/25, up from €3.3M year-over-year, driven by increased trading activity.

• Net profit for the half-year was €42K, reversing a prior year loss of €238K.

• Orders processed increased by 24.6% to 637,547 in H1 2024/25.

• Cost-income ratio improved to 0.85 from 1.1 year-over-year.

• Equity ratio at 85.65% as of March 31, 2025.

Outlook and guidance

• FY 2024/25 group revenues expected between €8.0M and €8.9M; costs between €6.8M and €7.3M.

• Group net profit forecasted between €0.4M and €0.9M after tax.

• Management expects continued growth in customer numbers and trading volumes, supported by new digital initiatives and partnerships.