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NetFonds AG
Annual / Quarterly Financial Statement • May 27, 2024
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Annual / Quarterly Financial Statement
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Corporate | 27 May 2024 17:43
Netfonds AG publishes audited annual financial statements for 2023
EQS-News: Netfonds AG / Key word(s): Annual Results
Netfonds AG publishes audited annual financial statements for 2023
27.05.2024 / 17:43 CET/CEST
The issuer is solely responsible for the content of this announcement.
PRESS RELEASE
Netfonds AG publishes audited annual financial statements for 2023
Hamburg, 27 May 2024 – At its meeting to approve the financial statements, the Supervisory Board adopted the consolidated financial statements for 2023, presented by the Management Board of Netfonds AG (ISIN: DE000A1MME74) and approved by the auditor. There have been changes compared to the preliminary figures published on 5 March 2024. This was firstly due to the valuation and correction of a negative one-off effect in the wealth management segment. Secondly, due to the equity consolidation of the investment in NSI Asset AG. Both effects were not relevant to cash flow in the past year and correspond to a cumulative amount of EUR -1.70 million.
As already published, Netfonds AG achieved gross consolidated sales of EUR 192.9 million in the past financial year (previous year: EUR 176.4 million). Net sales after deduction of commission expenses increased to EUR 36.6 million (previous year: EUR 33.6 million). The Group’s EBITDA totalled EUR 4.9 million and was therefore below the previous year’s figure of EUR 6.5 million. EBIT at Group level totalled EUR 1.3 million. The Netfonds Group achieved a consolidated profit after tax of Euro -0.28 million. Annual net income of Euro 0.25 million was reported at Netfonds AG level.
Due to the positive business performance, the Management Board and Supervisory Board of Netfonds AG have decided to once again propose the payment of a dividend of EUR 0.25 per share (previous year: EUR 0.25 per share) at the Annual General Meeting to be held on 27 August 2024.
The approved and audited annual financial statements and the consolidated financial statements of Netfonds AG will be available on the company’s website in due course.
Based on the audited business figures, the most important key figures were as follows:
| 31.12.2023 | 31.12.2022 | Development | |
| Consolidated balance sheet total in € thousand | 72,256 | 63,664 | 13.5% |
| Group equity in € thousand | 21,451 | 22,434 | 0% |
| Equity ratio | 30 % | 35 % | |
| Sales revenue in € thousand | 192,880 | 176,446 | 9.4% |
| Gross operating profit in € thousand | 39,361 | 35,989 | 9.4% |
| Total costs in € thousand | 38,011 | 33,026 | 15.1% |
| EBITDA in € thousand | 4,910 | 6,467 | -24.1% |
| EBIT in € thousand | 1,343 | 2,957 | -54.6% |
| Earnings before taxes (EBT) in € thousand | 734 | 2,007 | -63.4% |
| Net loss (surplus) for the year in € thousand | -279 | 881 | n.a. |
| Net profit in € thousand | 7,503 | 8,722 | -14.0% |
Outlook on the current financial year
Based on the analyses of the first quarter of the 2024 financial year, which has already been completed, the Management Board of Netfonds AG expects significant double-digit growth in both the investment and insurance segments. Cumulative assets already exceeded the EUR 25 billion mark as at 31 March 2024 and are therefore around 20% higher than in the previous year. We therefore expect an increase in net sales of more than 10% for the 2024 financial year, as well as a sustained increase in the operating result.
Netfonds AG will publish its figures for the first quarter of this year on 30 May 2024 after the close of trading and will also present a more specific forecast for the current financial year and the Group’s mid-term outlook.
Invitation to the Capital Market Call
CFO Peer Reichelt will present the results and development as well as the mid-term planning of Netfonds AG in a web conference at 10 a.m. on 31 May 2024 . He will then be available to answer your questions.
The conference call can be followed live via Zoom webcast. To participate, please use the following link:
https://us06web.zoom.us/webinar/register/WN_SXxUlNvuSY-UwhK64VIhMw
You can participate by phone via the following number:
Phone: +49 69 5050 0952
Webinar ID: 4923 4693
Identification code: 609142
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Contact
Netfonds AG
Heidenkampsweg 73
20097 Hamburg, Germany
Investor Relations
Philip Angrabeit
Phone: +49 40 822 267 142
E-mail: [email protected]
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 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.
The entire expertise of the Netfonds Group at a glance
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27.05.2024 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.
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| Language: | English |
| Company: | Netfonds AG |
| Heidenkampsweg 73 | |
| 20097 Hamburg | |
| Germany | |
| Phone: | +49 40 822267 0 |
| E-mail: | [email protected] |
| Internet: | www.netfonds.de |
| ISIN: | DE000A1MME74 |
| WKN: | A1MME7 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access) |
| EQS News ID: | 1911877 |
| End of News | EQS News Service |