Netfonds AG Reports Strong Growth in H1 2024

Hamburg-based Netfonds AG announced preliminary results for the second quarter and the first half of 2024. The company reported gross revenues of EUR 56.5 million for Q2 2024, up from EUR 46.5 million in Q2 2023. For the first half of 2024, revenues reached EUR 112.5 million, a 20.5% increase compared to H1 2023.

EBITDA showed a positive trend as well, with EUR 2.0 million for Q2 2024 versus EUR 1.5 million in Q2 2023. The first half of the year saw EBITDA totaling EUR 3.0 million, up from EUR 1.9 million in H1 2023. Assets under administration hit a new record of EUR 26.2 billion, reflecting strong momentum in the investment business.

The wealth management and strategy portfolios segment, NFS Hamburger Vermögen, experienced significant growth. It added more than EUR 600 million in assets in the first half of the year, bringing total assets under management to EUR 3.3 billion as of 30 June 2024.

Looking ahead, Netfonds AG forecasts gross revenues between EUR 220 million and EUR 230 million for the full year. Net sales are projected to be in the range of EUR 41.5 million to EUR 43.0 million. The company will publish its half-year financial statements in mid-September 2024.