Smartbroker Holding AG

Investor Presentation • Sep 10, 2024

SMARTBROKERHOLDING

H1 2024 Zwischenbericht
10. Sep 2024

Ergebnispräsentation

Die Präsentatoren

André Kolbinger
CEO, Gründer

Thomas Soltau
Vorstand Smartbroker AG

Disclaimer

This presentation has been prepared by Smartbroker Holding AG ("Smartbroker Holding") and comprises the written materials/slides for a presentation concerning Smartbroker Holding, its group companies and the product Smartbroker. By attending this presentation and/or reviewing the slides you agree to be bound by the following conditions. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This presentation is for information purposes only and the information contained herein (unless otherwise indicated) has been provided by Smartbroker Holding. It does not constitute an offer to sell or the solicitation, inducement or an offer to buy shares in Smartbroker Holding or any other securities. Further, it does not constitute a recommendation by Smartbroker Holding or any other party to sell or buy shares in Smartbroker Holding or any other securities and should not be treated as giving investment, legal, accounting, regulatory, taxation or other advice. This presentation has been prepared without reference to any particular investment objectives, financial situation, taxation position and particular needs. In case of any doubt in relation to these matters, you should consult your stockbroker, bank manager, legal adviser, accountant, taxation adviser or other independent financial adviser. The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein and no reliance should be placed on it. To the extent permitted by applicable law, none of Smartbroker Holding or any of its affiliates, advisers, connected persons or any other person accept any liability for any loss howsoever arising (in negligence or otherwise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. This presentation contains forward-looking statements that are subject to risks and uncertainties. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. When we use words such as "plan", "believe", "expect", "anticipate", "intend", "estimate", "may" or similar expressions, we are making forward-looking statements. You should not rely on forward-looking statements because they are subject to a number of assumptions concerning future events, and are subject to a number of uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from those indicated. These factors include, but are not limited to, the following: (i) market risks: principally economic price and volume developments; (ii) dependence on performance of major customers and industries, (iii) our level of debt, management of interest rate risk; (iv) costs associated with regulation relating to providing financial services; (v) inflation, interest rate levels and fluctuations in exchange rates; (vi) general economic, political and business conditions and existing and future governmental regulation; and (vii) the effects of competition. Any assumptions, views or opinions (including statements, projections, forecasts or other forward-looking statements) contained in this presentation represent the assumptions, views or opinions of Smartbroker Holding as of the date indicated and are subject to change without notice. Smartbroker Holding neither intends, nor assumes any obligation, unless required by law, to update or revise these assumptions, views or opinions in light of developments which differ from those anticipated. All information not separately sourced is from internal company data and estimates. Any data relating to past performance contained herein is no indication as to future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto.

H1 2024

Finanzkennzahlen

Operative KPIs H1 2024

Marktumfeld mit sehr geringer Volatilität

Finanz Performance | Überblick

Umsatz, in € Mio.

Operatives EBITDA vor und nach CAC, in € Mio.

H1 2024 Umsatz und EBITDA je Segment Media weiterhin rentabel; Transaktion EBITDA leicht positiv

in € Mio.	Gruppe	Media	Transaktion
Umsatz	25,5	12,3	13,2
EBITDA vor CAC	3,1	2,6	0,5
Marge	$13 \%$	$22 \%$	$4 \%$.
Kundenakquisekosten (CAC)	$(0.2)$	-	$(0.2)$
EBITDA nach CAC	2,9	2,6	0,3
Marge	$11 \%$	$22 \%$	$2 \%$

H1 2024 Ertragslage

in TE	01.01.-30.06.24	01.01.-30.06.23	Veränderung
1.Umsatzerlöse	25.512	23.425	8,9\%
2.Andere aktivierte Eigenleistungen	27	1.376	$-98,0 \%$
Gesamtleistung	25.539	24.801	$3,0 \%$
3.Sonstige betriebliche Erträge	187	386	$-51,5 \%$
4.Materialaufwand	$-9.171$	$-9.804$	$-6,5 \%$
Rohergebnis	16.555	15.383	7,6\%
5.Personalaufwand	$-10.352$	$-9.875$	4,8\%
6.Abschreibungen	$-5.113$	$-2.183$	134,2\%
7.Sonstige betriebliche Aufwendungen	$-3.284$	$-3.811$	$-13,8 \%$
Betriebsergebnis	$-2.194$	$-486$	351,6\%
8.Sonstige Zinsen und ähnliche Erträge	84	118	$-29,0 \%$
9.Zinsen und ähnliche Aufwendungen	$-101$	$-132$	$-23,3 \%$
Ergebnis vor Steuern	$-2.211$	$-499$	342,9\%
10.Steuern vom Einkommen und vom Ertrag	118	$-1.228$	$-109,6 \%$
davon aus der Auflösung/Bildung von latenten Steuern	303	$-1.004$	$-130,2 \%$
Ergebnis nach Steuern	$-2.093$	$-1.727$	21,2\%
Eigenkapitalredtie	$-4,31 \%$	$-4,01 \%$
Umsatzrendite	$-8,20 \%$	$-7,37 \%$
Ebitda	2.919	1.697	72,0\%
operativer Cash Flow	2.691	83	3123,6\%

H1 2024 Liquiditätsanalyse

in € Mio.	H1 2024	H1 2023	Veränderung	2023
Kapitalflussrechnung
Cashflow aus der laufenden Geschäftstätigkeit	2,1	1,0	110,1\%	0,0
Cashflow aus der Investitionstätigkeit	$-2,4$	$-4,8$	245,0\%	$-11,0$
Cashflow aus der Finanzierungstätigkeit	5,4	$-2,3$	n.m.	$-4,5$
Free Cash Flow
operativer Cashflow (GuV)	2,6	1,0	160,0\%	$-1,6$
Investitionen (Anlagenspiegel)	$-2,0$	$-5,6$	360,0\%	$-11,8$
Free Cashflow	0,6	$-4,6$	520,0\%	$-13,4$
Cashbestand am Ende der Periode	17,5	21,3	$-380,0 \%$	12,3

H1 2024 Konzernbilanz

Ausblick 2024

Planungs-Annahmen 2024

TRANSAKTION

• Handelsaktivität in 2024, auf niedrigem Niveau der letzten Quartale 2023
• Start Kryptohandel September 2024
• Start Neukundenmarketing SB+ Q 2 / 2024

MEDIA

• Umsätze Media im Bereich wie Q 3 / 4 2023
• stabiler Werbemarkt
• stabiles Börsenumfeld

UNSICHERHEITEN

• Wiederherstellung einer guten Erreichbarkeit des Customer Service
• Erfolg Marketing Neukunden SMARTBROKER+

Guidance 2024

20.000 - 30.000 neue Depots p. a. in 2024 erwartet

Guidance zuletzt angepasst am 23.08.2024, EBITDA angehoben auf 3 bis 5 Mio. € von zuvor - minus 1 bis 3 Mio. €

Umsatz, in € Mio.
EBITDA nach CAC, in € Mio.

Der Umsatzwert 2021 stellt den HGB-Proforma-Umsatz dar, der Smartbroker AG vollkonsolidiert ab 1. Januar 2021 beinhaltet; Gemäß Management-Informationssystem (MIS) würde der Proforma-Umsatz 2021 € 51,4 Mio. betragen, ohne wesentliche Auswirkungen auf das EBITDA. CAC: Kundenakquisekosten für Smartbroker | B: budgetiert