EQS-News

Baader Bank reports excellent results in first quarter of 2024

EQS-News: Baader Bank AG / Key word(s): Quarter Results Baader Bank reports excellent results in first quarter of 2024 25.04.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement.

Baader Bank reports excellent results in first quarter of 2024

All data is based on provisional and unaudited consolidated figures.

• In the first quarter of the current financial year, Baader Bank generated earnings before tax of EUR 9.9 million and a consolidated return on equity after tax of 10.4 %.
• Total revenue amounted to EUR 62.2 million in the first quarter and was driven by improvements in income in the three main earnings components.
• In the first three months, the number of securities accounts managed by the Group grew by more than 10 %.

In the first quarter of 2024, Baader Bank recorded a consolidated pre-tax profit of EUR 9.9 million (Q1 2023: EUR 1.8 million). Earnings per share after tax amounted to EUR 0.09 (31 March 2023: EUR -0.01) and consolidated earnings were EUR 4.3 million (Q1 2023: EUR -0.3 million).

Following a generally poor performance in the previous year, there was a renewed positive trend in trading volumes, especially in the second half of the first quarter of 2024. Trading volumes were increased by gaining market share, resulting in a noticeably better trading result. Net trading income developed in line and increased by around 24% year-on-year to EUR 17.0 million (Q1 2023: EUR 13.7 million). Earnings from the commission business were at a strong level in line with business growth and increased by around 30 % compared to the same quarter of the previous year, to EUR 30.2 million (Q1 2023: EUR 23.3 million). At EUR 11.0 million, earnings from the interest business made a significantly higher contribution (Q1 2023: EUR 6.5 million) due to the interest rate level being persistently high. At EUR 2.7 million, sales revenues remained constant compared to the same quarter of the previous year (Q1 2023: EUR 2.8 million).