Netfonds AG Announces Preliminary Group Results for the 2023 Fiscal Year

Netfonds AG has reported a dynamic growth in the 2023 fiscal year, with preliminary gross consolidated sales reaching EUR 197.0 million, an 11.7% increase over the previous year's EUR 176.4 million. The Hamburg-based company also saw net consolidated sales rise by 10.1% to EUR 37.0 million. Despite this sales growth, EBITDA and EBIT experienced declines, falling to EUR 6.2 million and EUR 2.1 million, respectively. However, EBT grew by 10% to EUR 2.2 million.

The company attributes its revenue growth primarily to its Wholesale and Regulatory & Technology divisions, with assets under administration climbing to EUR 23.8 billion, a 10.7% increase. While investments in the finfire platform affected short-term profits, Netfonds AG anticipates that the platform's ongoing development will bolster future growth, particularly in the insurance sector.

The fiscal year also saw significant partnerships and platform utilization that enhance the company's overall performance and market position. Looking ahead to the 2024 financial year, Netfonds AG expects continued dynamic growth, with net consolidated revenue projected to exceed EUR 40 million and a substantial rise in EBITDA anticipated.