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2021-10-28

FLOW TRADERS Q321 TRADING UPDATE

FLOW TRADERS Q321 TRADING UPDATE

Amsterdam, the Netherlands - Flow Traders N.V. (Euronext: FLOW) announces its unaudited Q321 trading update.

Highlights

  • Market ETP Value Traded increased 11% quarter-on-quarter and fell 5% YTD 9m21 vs YTD 9m20
  • Flow Traders ETP Value Traded increased 3% quarter-on-quarter and fell 1% YTD 9m21 vs YTD 9m20
  • Flow Traders NTI decreased to €67.1m in Q321 reflecting an overall lower volatility environment. This compares to NTI of €94.4m in Q221 and €78.3m in Q320. YTD 9m21 NTI was €303.7m vs €803.2m in YTD 9m20
  • Total operating expenses of €52.2m incurred in Q321, which included €0.6m of COVID-related one-off expenses. Employee expenses included Є11.0m combined impact of prior year’s variable remuneration and the adjustment to variable remuneration composition to reflect this year’s financial performance
  • 603 FTEs as at 30 September 2021 compared to 577 as at 30 June 2021 as new graduate intake classes joined on 1 September 2021 for both trading and technology
  • Q321 Normalized EBITDA reached €24.6m with a margin of 37% contributing to YTD 9m21 Normalized EBITDA of €142.8m with a margin of 47%. Reported Q321 EBITDA reached €14.9m with a margin of 22% contributing to YTD 9m21 EBITDA of €134.5m with a margin of 44% reflecting the IFRS treatment of the share-based variable remuneration plans
  • Q321 Net Profit amounted to €8.7m with Basic EPS of €0.20. YTD 9m21 Net Profit amounted to €98.9m with Basic EPS of €2.25
  • Regulatory Own Funds Requirement (OFR) as at 30 September 2021 was €337m, resulting in excess capital of €135m as at 30 September 2021. Trading capital stood at €597m at the end of the third quarter

Financial Overview

€million Q321 Q221 YTD 9m21 YTD 9m20
Net trading income 67.1 94.4 303.7 803.1
EMEA (Europe) 42.7 61.9 186.0 458.5
Americas 10.0 17.5 66.3 261.8
APAC 14.4 15.0 51.4 82.8
         
Net trading income 67.1 94.4 303.7 803.1
Employee expenses1 35.0 37.3 119.2 254.1
Technology expenses 12.4 12.3 36.5 34.2
Other expenses 4.3 3.9 11.6 10.7
One-off expenses 0.6 0.6 1.9 8.0
Total operating expenses 52.2 54.1 169.3 307.0
EBITDA 14.9 40.3 134....
Författare GlobeNewswire