Netfonds AG Reports Strong First Half of 2024 Results

Hamburg, 17 September 2024 - Netfonds AG, a leading platform in the German financial industry, has announced impressive financial results for the first half of 2024. The company achieved net sales of EUR 21.8 million, a 23.9% increase from the first half of 2023. Consolidated group sales reached EUR 112.5 million, up 20.6% year-on-year.

The Netfonds Group's EBITDA surged by 57.9% to EUR 3.0 million, resulting in an EBITDA margin of 13.8%. EBIT tripled to EUR 1.8 million, and consolidated net profit was EUR 1.3 million.

Assets under administration set a new record at EUR 26.2 billion, underlining strong growth in the wealth management segment. The group’s investment division and NFS Netfonds reported significant growth in assets under management.

Looking ahead, new acquisitions in the third quarter are expected to boost earnings. The Management Board reaffirms its forecast for 2024, projecting gross sales between EUR 220 and 230 million with an EBITDA margin of approximately 20%.