Flow Traders (FLOW) Q2 2024 Earnings Report

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Previous Report: Q4 2023

Next Report: Q4 2024

NL:FLOW Q2 2024 EPS Results

Actual EPS€0.30

Consensus EPS€0.33

Beat/MissMissed by -€0.03

One Year Ago EPS-€0.10

NL:FLOW Q2 2024 Revenue Results

Actual Revenue€365.62M

Expected Revenue€81.20M

Beat/MissBeat by +€284.42M

YoY Revenue Growth+21.25%

Earnings Announcement Details

QuarterQ2 2024

Date07/26/2024

TimeBefore Open

Conference CallFriday, July 26, 2024

NL:FLOW Upcoming Earnings

Flow Traders's next earnings date is estimated for February 11, 2027, based on past reporting schedules.

Q2 2024 Earnings Call Audio

NL:FLOW Q2 2024 Earnings Call

0:00 / 0:00

Q2 2024 Earnings Slide Deck

Q2 2024 Earnings Call Summary

Q2 2024

Earnings Call Date:Jul 26, 2024|

% Change Since:

Earnings Call Sentiment|Positive

The earnings call presented a generally positive outlook, with significant increases in total income and EBITDA, as well as solid performance in the digital assets and ETP markets. However, there are challenges in quarter-on-quarter declines in some areas and the suspension of dividend payments. The overall sentiment leans towards positive, but with caution regarding market volatility and strategic shifts.

Company Guidance

In the second quarter of 2024, Flow Traders saw a mixed trading environment with the total market ETP value traded rising by 12% year-over-year but declining by 9% quarter-on-quarter. Despite a 15% decrease in volatility compared to the same period last year, total income reached EUR 76.2 million, marking a 48% increase from the previous year. Trading income was EUR 79.5 million, with other income and losses amounting to EUR 3.3 million. The firm achieved an EBITDA of EUR 21.1 million, which represents a more than six-fold increase from the previous year, and the profit for the period was EUR 12.8 million, resulting in a basic EPS of EUR 0.03. The ETP market value traded increased by 12% year-over-year, but declined by 9% quarter-over-quarter, while total ETP assets under management rose by 13% to over EUR 12 trillion. In terms of expenses, fixed operating expenses slightly declined, and NTI increased by 29% year-over-year, resulting in a 40% EBITDA margin for the first half of the year. The firm plans to expand its trading capital and has secured a EUR 25 million bank term loan as part of a broader trading capital expansion strategy, suspending dividend payments to accelerate growth.

Significant Increase in Total Income and EBITDA

Total income for the second quarter was EUR 76.2 million, a 48% increase compared to the same period last year. EBITDA reached EUR 21.1 million, more than a six-fold increase from the second quarter of last year.

Growth and Diversification Strategy Validation

The results validate Flow Traders' growth and diversification strategy, with a focus on strategic growth agenda amidst a subdued trading environment.

Strong ETP Market Performance

ETP market value traded increased by 12% year-over-year. Total ETP assets under management increased by 13% in the first half of 2024 to over EUR 12 trillion.

Digital Assets and Crypto Market Expansion

Trading volume and volatility in digital assets rose significantly compared to a year ago. Flow Traders assisted with the spot bitcoin ETF launch in the U.S.

Fixed Operating Expenses Management

Fixed operating expenses in the first half of the year declined slightly while NTI increased by 29% year-over-year.

NL:FLOW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Feb 11, 2027	2026 (Q4)	- / -	0.78	―
Jul 30, 2026	2026 (Q2)	0.95 / 0.93	1.16	-20.09% (-0.23)
Feb 12, 2026	2025 (Q4)	0.68 / 0.78	1.47	-46.94% (-0.69)
Jul 31, 2025	2025 (Q2)	1.08 / 1.16	0.3	286.67% (+0.86)
Feb 13, 2025	2024 (Q4)	0.94 / 1.47	0.35	320.00% (+1.12)
Jul 26, 2024	2024 (Q2)	0.33 / 0.30	-0.095	415.79% (+0.40)
Feb 08, 2024	2023 (Q4)	0.26 / 0.35	0.731	-52.12% (-0.38)
Jul 28, 2023	2023 (Q2)	-0.10 / -0.10	0.26	-136.54% (-0.35)
Feb 09, 2023	2022 (Q4)	0.54 / 0.73	0.37	97.57% (+0.36)
Jul 22, 2022	2022 (Q2)	0.48 / 0.26	0.66	-60.61% (-0.40)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed