Netfonds AG Sees Strong Growth and Profitability in Q1 2024

Hamburg, 30 May 2024 – Netfonds AG, a major player in the German financial industry, reported significant business growth in Q1 2024. The company's gross consolidated revenue surged 19.7% year-over-year to EUR 56.0 million, predominantly due to organic growth.

Net consolidated sales reached EUR 9.5 million, up 18.2% from EUR 8.0 million in the same quarter last year. EBITDA more than doubled to EUR 0.9 million from EUR 0.4 million, showing robust profitability. EBIT improved to EUR 0.3 million, recovering from a loss of EUR -0.3 million in Q1 2023.

CEO Martin Steinmeyer highlighted the milestone of EUR 25 billion in assets under administration, reflecting a 19% year-on-year increase. The digital finfire platform also gained traction, contributing significantly to business expansion. CFO Peer Reichelt emphasized the positive market conditions and the influx of new partners, particularly in regulatory and asset management sectors.

The company forecasts revenue growth of 15% for the entire fiscal year, with net sales expected to range between EUR 41.5 and 43.0 million. The EBITDA forecast is set between EUR 8.5 and 9.5 million. Netfonds maintains a mid-term growth projection of 12-15% annually until 2026.