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2016-02-24

Flow Traders NV: FLOW TRADERS REPORTS STRONG 2015 RESULTS

For immediate release

FLOW
TRADERS REPORTS STRONG 2015 RESULTS

Amsterdam, the Netherlands, 24 February 2016 - Flow Traders N.V. today
announced strong results for 2015, as it successfully capitalized on higher
volatility and increased trading volumes in the market compared to 2014. In
the year in which Flow Traders successfully debuted on Euronext Amsterdam,
Net Trading Income grew by 76 percent, while ETP Market Value Traded grew by
23 percent, compared to 2014. This reflects the strategy of Flow Traders of
growing the business incrementally while maintaining the desired low risk
profile, controlling costs, and securing the right talent.
In 4Q15 we realised a solid result despite meaningfully lower trading volumes
and volatility compared to 3Q15.

4Q15 Key Highlights
[1]

* ETP Market Inflow in 4Q15 was €109 billion versus €76 billion in 3Q15
(+43%). This was the highest registered quarterly capital inflow in 2015,
with most inflow in Developed Markets Equity (source: BlackRock).
* ETP Market Value Traded fell from €3,993 billion to €3,423 billion (-14%,
source WFE, LSE). In line with market developments, ETP Value Traded by
Flow Traders came in at €144 billion in 4Q15 versus €171 billion in 3Q15
(-16%)
* Net Trading Income 4Q15 was €64.5 million versus €92.8 million in 3Q15
(-30%)
* Adjusted[2] EBITDA Margin came in at 48% in 4Q15 versus 52% in 3Q15
* Adjusted Net Profit came in at €29.8 million in 4Q15 versus €37.9 million
in 3Q15, following a decrease in Net Trading Income. The impact was
dampened by a lower effective tax rate than anticipated

Full Year 2015 Key Highlights

* Total ETP Market Value Traded grew from €9.95 trillion in 2014 to €14.30
trillion in 2015 (+44%)
* Total ETP Value Traded by Flow Traders increased from €527 billion in 2014
to €645 billion in 2015 (+23%)
* Net Trading Income increased from €172.7 million in 2014 to €304.7 million
in 2015 (+76%)
* Revenue Capture 2015 came in at 4.7 bps versus 3.3 bps in 2014 (+44%),
positively impacted by some periods of higher volatility during the year
* Flow Traders was trading at over 95 markets and provided liquidity in over
3,000 ETPs end 2015
* Adjusted EBITDA Margin increased to 51.5% in 2015 from 48.7% in 2014 due to
further efficiency improvements, a predictable cost base and leveraging of
our existing operations and infrastructure
* Adjusted Net Profit increased by 89% from €68.1 million in 2014 to €128.4
million in 2015 (Net Profit of €97.3 million adjusted for one off IPO
expenses)
* Capital base further improved in 2015, with sufficient headroom above our
required regulatory capital mainly as a result of our highly cash-flow
generative business
* Dividend proposal will be €1.50 total dividend per share for 2015. Interim
dividend paid was €0.50, final dividend proposal will be €1.00
* Headcount increased from 211 FTEs at year-end 2014 to 268 FTEs at year-end
2015

Dennis Dijkstra, Co-CEO of Flow Traders commented:
"2015 was a very successful and important year for Flow Traders; in markets
with certain periods of higher volatility and higher volumes, our Net Trading
Income over the full year increased by 76% (€305 million in 2015 versus €173
million in 2014) and Adjusted Net Profit increased by 89% (€128 million in
2015 versus €68 million in 2014). The company's listing on Euronext Amsterdam
was a key public event for the company. It reflects our ambitions going
forward and increases our visibility with institutional counterparties,
regulators, investors, and prospective employees. Our goal for 2016 remains
to continuously improve our business, improve our pricing power and grow
organically."

Sjoerd Rietberg, Co-CEO of Flow Traders commented
: "As expected, the 4Q15 figures showed a decrease compared to 3Q15,
reflecting the lower ETP values traded overall in the global market, a result
of limited volatility. Driven by lower volumes traded and limited spikes in
volatility, our Revenue Capture decreased to 4.5 basis points in 4Q15 from
5.4 basis points in 3Q15. Nevertheless, overall in 2015, our ETP Value Traded
grew 23% year-on-year, while our Net Trading Income grew by 76%. This boost
in results was predominantly a result of improvements in our pricing
knowledge and in our trading systems as well as periods of higher volatility
in the markets and a continuing trend of strong inflows on the ETP market.
The global ETP markets noted record inflows of €319 billion in 2015 compared
to €245 billion in 2014 (+30% YoY). This confirms the momentum in the ETP
space and confirms our strategy going forward."

Quarterly and FY Results

-------------------------------------------------------------------------------
| €million, unless otherwise stated 4Q15 3Q15 %Change 2015 2014 %Change |
| Net Trading Income 65 93 (30%) 305 173 76% |
| ETP Value Traded (€bn) 144 171 (16%) 645 527 22% |
| Adjusted EBITDA 31 48 (35%) 157 84 87% |
| Adjusted EBITDA Margin 48% 52% 51% 49% |
| Adjusted Net Profit 30 38 (21%) 128 68 89% |
| Adjusted EPS 0.64 0.81 (21%) 2.76 1.46 89% |
-------------------------------------------------------------------------------
In 4Q15 markets were not as active as we had seen in the previous quarters.
Adjusted EBITDA Margin decreased to 48% over 4Q15 compared to 52% over 3Q15,
driven mainly by lower Net Trading Income and an increase in other employee
costs due to recruitment costs and an increase in FTEs from 252 to 268
globally. Overall, Adjusted EBITDA Margin came in at 51% in 2015.

---------------------------------------------------------------------------------
| Europe |
| €million, unless otherwise stated 4Q15 3Q15 %Change 2015 2014 %Change |
| Net Trading Income 33.4 52.3 (36%) 182.5 113.7 61% |
| ETP Value Traded (€bn) 91 104 (13%) 390 270 45% |
---------------------------------------------------------------------------------
In Europe the ETP Market Value Traded decreased from €238 billion in 3Q15 to
€216 billion in 4Q15

(-9%), which was mainly driven by periods of lower volatility and lower
volumes. Although Flow Traders' ETP Value Traded decreased from €104 billion
in 3Q15 to €91 billion, overall Value Traded by Flow Traders rose 45% in
2015, year on year.

-------------------------------------------------------------------------------
| Americas |
| €million, unless otherwise stated 4Q15 3Q15 %Change 2015 2 %Change |
| 014 |
| Net Trading Income 12.6 17.4 (28%) 51.0 34.7 47% |
| ETP Value Traded (€bn) 44 47 (8%) 198 223 (11%) |
-------------------------------------------------------------------------------
In the Americas the ETP Market Value Traded came in at €2.98 trillion in 4Q15,
compared to €3.33 trillion in 3Q15 (-11%), following lower volatility and a
more reserved stance from investors towards year end. ETP Value Traded by
Flow Traders decreased by 8%, as a result of the improvements of our pricing
models in combination with changes in IT-products.

-------------------------------------------------------------------------------
| Asia |
| €million, unless otherwise stated 4Q15 3Q15 %Change 2015 2014 %Change |
| Net Trading Income 18.5 23.0 (20%) 71.3 24.3 193% |
| ETP Value Traded (€bn) 10 20 (50%) 58 34 69% |
-------------------------------------------------------------------------------
Due to the market circumstances in China, leading to relative high volumes in
3Q15, the ETP Market Value Traded decreased from €422 billion in 3Q15 to €225
billion in 4Q15. ETP Value Traded by Flow Traders also decreased from €20
billion in 3Q15 to €10 billion in 4Q15. However, due to late benefits
following the market turmoil in China, our Revenue Capture increased from
11.5bps in 3Q15 to 18.3 bps in 4Q15.

Other

The proposed sale of a non-core part of our communications infrastructure did
not materialize in the fourth quarter. Management is currently investigating
other options. No material financial impact is expected.

Current Trading and Outlook

So far trading at the beginning of 2016 has been solid and showed to date some
improvements of results versus 4Q15. Flow Traders reiterates that it expects
for the medium to long term to continue to grow organically and at a faster
pace than the global ETP AuM. Flow Traders will continue to focus on
increasing traded volumes and improving Revenue Capture. This will be done by
continuously improving our pricing, our technological infrastructure and our
risk management systems while at the same time continuing to strengthen our
team.

Financial Calendar

18 March Publication Annual Report 2015
4 May 1Q16 results
19 May AGM Flow Traders
20 May Ex-dividend date

Analyst Conference Call and Webcast

There will be an analyst conference call on the results at 10:00 am CET on
Wednesday 24 February 2015. The presentation will also be accessible live via
audio webcast atwww.flowtraders.com.
A replay of the conference call will be available on the company website for
at least 90 days.

Home Member State

Flow Traders N.V.'s home Member State is the Netherlands.

Contact Details

Flow Traders N.V.
Serge Enneman / Manager Investor Relations
Phone: +31 20 7996799
Email: Investor.relations@flowtraders.com

Important legal information

This press release is prepared by Flow Traders N.V. and is for information
purposes only. It is not a recommendation to engage in investment activities
and you must not rely on the content of this document when making any
investment decisions. The information in this document does not constitute
legal, tax, or investment advice and is not to be regarded as investor
marketing or marketing of any security or financial instrument, or as an
offer to buy or sell, or as a solicitation of any offer to buy or sell,
securities or financial instruments.

The information and materials contained in this press release are provided 'as
is' and Flow Traders N.V. or any of its affiliates ("Flow Traders") do not
warrant the accuracy, adequacy or completeness of the information and
materials and expressly disclaim liability f...

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