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NetFonds AG
Earnings Release • Sep 23, 2019
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Earnings Release
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News Details
Corporate | 23 September 2019 15:20
Netfonds publishes interim report for the first half of 2019
DGAP-News: Netfonds AG / Key word(s): Half Year Results/Interim Report
23.09.2019 / 15:20
The issuer is solely responsible for the content of this announcement.
Netfonds publishes interim report for the first half of 2019
– Half year figures without significant deviations from published preliminary figures
– Net consolidated sales increase by 20.8 percent to EUR 11.2 million
– EBITDA of EUR 0.4 million as expected still below the previous year, following further investments in finfire
– Assets under Administration are 14 percent higher than in the previous year at EUR 13.8 billion
Hamburg, 23 September 2019 – Netfonds AG (ISIN: DE000A1MME74) , a leading platform for administration, consulting, transaction processing and regulation for the financial industry, today published its interim report on the Group’s business development in the first half of the year. There were no significant deviations from the preliminary figures published on 3 September 2019.
Gross consolidated sales increased by 8.6 percent to EUR 50.6 million (H1 2018: EUR 46.6 million), while net consolidated sales increased by 20.8 percent to EUR 11.2 million. EUR (H1 2018: EUR 9.3 million). At 22.2 percent, the gross profit margin, ie net consolidated sales in relation to gross consolidated sales, continued to rise after 20.0 percent in the same period of the previous year. EBITDA declined to EUR 0.4 million due to increased investments in the further development of the digital platform finfire (H1 2018: EUR 0.6 million). Despite the tense capital market environment, assets under administration including funds advisory continued to develop positively. They rose by 14 percent to around EUR 13.8 billion.
The most important key figures for the first half of 2019 are as follows:
| in EUR ‘000 | H1 2019 | H1 2018 | ∆ |
| Gross consolidated sales | 50.6 | 46.6 | +8.6 % |
| Net consolidated sales | 11.2 | 9.3 | +20.8 % |
| Gross margin | 22.2% | 20.0% | |
| EBITDA | 0.4 | 0.6 | -33.3 % |
| EBITDA margin on Gross cons. sales | 0.8% | 1.3% | |
| EBITDA margin on Net cons. sales | 3.6% | 4.0% | |
| Asset under Administration incl. Fonds Advisory |
13,800 | 12,100 | +14 % |
All three business units contributed to revenue growth in the first half of the year. Once again, it was Technology & Regulatory, which grew the most in absolute terms with an increase of 18.2 percent to EUR 12.8 million (H1 2018: EUR 10.9 million). However, the wholesale area also developed positively, growing again in the first half of the year following a weaker start to the year, rising by 3.5 percent to EUR 35.9 million (H1 2018: EUR 34.7 million). The strongest growth percentage-wise was posted by the Marketing & Products division, where sales of EUR 1.9 million were 94.3 percent up on the previous year (H1 2018: EUR 1.0 million). Here, it was above all the increased income from real estate transactions transacted via the platform that led to the significant increase in sales.
Gross sales by segment in the first half of 2019 developed as follows:
| in EUR ‘000 | H1 2019 | H1 2018 | ∆ |
| Technology & Regulatory | 12.8 | 10.9 | +18.2 % |
| Wholesale | 35.9 | 34.7 | +3.5 % |
| Marketing & Products | 1.9 | 1.0 | +94.3 % |
As already published, the Management Board confirms the forecast for business development for the full year 2019 in the light of the positive business development in the first half of the year.
The complete interim report on business development in the first half of 2019 as well as further information on the Netfonds Group and its affiliated subsidiaries can be found at www.netfonds.de.
Contact
Ingo Middelmenne
Head of Investor Relations
Netfonds AG
Heidenkampsweg 73
20097 Hamburg
Mobile: +49 – 174 – 90 911 90
Phone: +49 – 40 – 822 267 0
Email: [email protected]
About the Netfonds Group
The Netfonds Group is a leading platform for administration, consulting, transaction processing and regulation for the German financial industry. Under the finfire brand, the company provides its customers with a web-based technology platform that enables financial industry users to fully, safely, and above all fully comply with the relevant MiFID II requirements in financial market transactions. The offer is tailor-made for a wide variety of day-to-day business requirements, from fund management companies, asset managers, financial advisors to specialist banks and insurance companies. Customers of Netfonds thus benefit from the most modern software solution on the market, which simplifies the consultation process, makes it secure and enables target group-specific product marketing. With a total of 187 employees (as at 31.12.2018), the company generated net consolidated sales of EUR 20.2 million in 2018 for gross consolidated sales of EUR 93.6 million. The share of Netfonds AG is listed in the m: access of the Munich Stock Exchange and can be traded via XETRA.
23.09.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: | 878083 |
| End of News | DGAP News Service |