Netfonds AG / DE000A1MME74
17.09.2024 - 17:40:25Strong result and first-time publication of a balance sheet for the first half of 2024
| Netfonds AG / Key word(s): Half Year Report 17.09.2024 / 17:40 CET/CEST The issuer is solely responsible for the content of this announcement. PRESS RELEASE ? Final result underlines successful first half of 2024 ? Assets at new record level ? Growth in the wealth management segment ? Further acquisitions increase future earning power Hamburg, 17 September 2024 - Netfonds AG (ISIN: DE000A1MME74), a leading platform of the German financial industry, achieved net sales in the first half of 2024 totalled EUR 21.8 million (H1 2023: EUR 17.6 million). This corresponds to an increase of 23.9% compared to the first half of the previous year. Consolidated group sales totalled EUR 112.5 million (H1 2023: EUR 93.3 million) and were therefore 20.6% higher than in the same period of the previous year. In terms of earnings, the Netfonds Group's EBITDA of EUR 3.0 million in the first half of 2024 was 57.9% higher than the previous year's level of EUR 1.9 million. This led to an EBITDA margin / net sales of 13.8% in the reporting period. EBIT more than tripled to EUR 1.8 million (H1 2023: EUR 0.5 million). Consolidated net profit for the first half of the year totalled EUR 1.3 million. Assets under administration as the basis for recurring income in the investment area reached a new record level of EUR 26.2 billion (H1 2023: EUR 22.8 billion). Current company development With organic growth of a good 20% compared to the same period of the previous year, the strong momentum of the investment business formed the basis for the successful first half of the year. The Netfonds Group's investment division and NFS Netfonds recorded outstanding growth in assets under management and administration in the first half of 2024. NFS Hamburger Vermögen, as a platform for wealth management and strategy portfolios, also made a significant contribution to the good result with growth of more than EUR 600 million. The Netfonds Group already managed around EUR 3.3 billion in asset management as at 30 June 2024. The Netfonds insurance segment also recorded strong growth of more than 10% in the first half of the year. Outlook for the rest of the financial year The acquisitions of another fund of funds initiator and the fund broker of NSI Asset AG, which were announced in the course of the third quarter, will further strengthen the company's earnings power over the course of the year. In light of the business performance in the first half of the year, the Management Board confirms the business forecast for 2024 as a whole. Netfonds is currently forecasting gross sales in the range of EUR 220 to 230 million. Net sales are expected to be between EUR 41.5 million and EUR 43.0 million with an EBITDA margin / net sales of approx. 20%. The key figures for the first half of 2024 were as follows:
A detailed presentation of the consolidated income statement and balance sheet can be found at www.netfonds.de/investor-relations/abschluesse-und-berichte. --- Contact Netfonds AG Heidenkampsweg 73 20097 Hamburg Germany Investor Relations Philip Angrabeit Phone: +49 40 822 267 142 E-mail: pangrabeit@netfonds.de About the Netfonds Group The Netfonds Group is a leading platform for administration, consulting and regulation for the German financial industry. Under the finfire brand, the company provides its customers and partners with a cloud-based technology platform for the complete processing and administration of business transactions. Netfonds' customers thus benefit from one of the most modern software solutions on the market, which significantly simplifies the advisory process, makes it secure and enables target group-specific advice. The shares of Netfonds AG are listed in the m:access segment of the Munich Stock Exchange and can be traded via XETRA. 17.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Netfonds AG |
| Heidenkampsweg 73 | |
| 20097 Hamburg | |
| Germany | |
| Phone: | +49 40 822267 0 |
| E-mail: | info@netfonds.de |
| Internet: | www.netfonds.de |
| ISIN: | DE000A1MME74 |
| WKN: | A1MME7 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access), Tradegate Exchange |
| EQS News ID: | 1989985 |
| End of News | EQS News Service |
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