Multitude AG Shows Promising Growth in Q2 2025

Multitude AG has released its robust Q2 2025 figures, showcasing promising growth. Despite stable sales of €63.6 million, the company has surpassed profit expectations. Interest income from wholesale banking rose by 61% year-on-year, with commission fees surging by 150%, compensating for declines in consumer banking.

Earnings before tax (EBT) reached €8.0 million, driven by effective risk management and reduced impairments, despite a growing loan portfolio. The first half of 2025 net income hit €14.2 million, indicating potential to meet its raised full-year guidance of up to €26 million.

With a positive outlook for H2 2025, Multitude aims for a 12% EBT margin, leveraging its platform's scale effects. Despite stock performance, it remains an attractive investment at 6.9x P/E for 2025, with a target price set at €12.50.