Half Year 2024 Flow Traders Ltd Earnings Call Transcript
Key Points
- Total income for the second quarter increased by 48% compared to the same period a year ago, reaching EUR76.2 million.
- EBITDA for the second quarter was EUR21.1 million, a sixfold increase compared to the same period last year.
- Flow Traders Ltd (FLTLF) maintained its position as a leading liquidity provider in ETPs in Europe amidst a muted market environment.
- The company achieved strong margins in the first half of the year, with a 40% EBITDA margin compared to 27% in the same period a year ago.
- Flow Traders Ltd (FLTLF) received market access to begin trading commodity futures in China, reflecting its expanding global footprint.
- Volatility remained subdued, down 15% compared to the same period last year, impacting trading opportunities.
- ETP Value Traded decreased by 15% compared to the last quarter, indicating a decline in trading activity.
- The company suspended regular dividend payments to increase retained earnings, which may disappoint income-focused investors.
- Market share in EMEA dropped in the ETP business to 25%, down from 27% at the end of Q4 2023.
- The cost of the additional EUR25 million bank loan is slightly below 10%, which could impact profitability if not managed effectively.
Hello, everyone, and welcome to Flow Traders second quarter 2024 results conference call. Please note that this call is being recorded.
I would now like to hand over to Eric Pan. Eric, you may now go ahead, please.
Thank you very much. Good morning, and thank you for joining Flow Traders second quarter and first half 2024 results call. As you will have no doubt already seen we released our results first thing this morning. I am joined here on the call by Flow Traders CEO, Mike Kuehnel; as well as Global Co-Head of Trading, Coen van Sevenhoven, who will run through this results presentation. Afterwards, we will be happy to take any questions you may have.
Before we begin, let me draw your attention to the disclaimer on page 2, please be advised that if you continue to listen to this presentation, you are bound by this disclaimer. Also, please know that the results we will discuss in this presentation are unaudited.
With the formalities out of way, I would now like to hand over
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