Netfonds AG Reports Strong Q2 Results, Driving Positive Outlook

Netfonds AG has posted impressive preliminary figures for Q2, surpassing expectations on both revenue and profit. Gross sales increased by 20% year-over-year to €56.5 million. Key drivers include robust growth in Assets under Administration (AuA) and Assets under Management (AuM), which reached record levels of €26.2 billion and €3.3 billion, respectively.

The company reported an EBITDA of €2.0 million, up by 122% quarter-over-quarter and 37% year-over-year. Contributing factors to this growth include stable operating expenses and high operating leverage.

Looking ahead, Netfonds aims for sequential growth through smaller, value-accretive transactions, and the initiation of its own money market fund. The confirmed FY24 guidance targets €220-230 million in gross sales and €41.5-43 million in net sales.

Netfonds continues to benefit from its 360° finfire platform, facilitating market consolidation, especially in the fragmented insurance brokerage sector. The platform enhances cross-selling potential, thereby boosting mid- to long-term growth prospects.