News and financial reports

Baader Bank doubles Group earnings before tax in Q1 2025

All data is based on provisional and unaudited consolidated figures

• Baader Bank doubles Group earnings before tax for first quarter of current financial year compared to Q1 2024 with result of EUR 20.8 million while generating a consolidated return on equity after tax of 27.5%.
• Total revenue in first quarter amounts to EUR 82.3 million, an increase of 32 % compared to the same period of the previous year, with increase driven primarily by improved trading business earnings.
• Number of securities accounts managed by the Group and securities account volumes continue to rise in Q1 2025 steadily and both increase by around 30 % compared to Q1 2024.

With a result of EUR 20.8 million for the first quarter of 2025, Baader Bank has doubled its earnings before tax compared to the same period of the previous year (Q1 2024: EUR 9.9 million). Consolidated earnings amount to EUR 13.0 million (Q1 2024: EUR 4.3 million). Earnings per share after tax at Group level stand at EUR 0.27 (Q1 2024: EUR 0.09).

The upward trend in trading revenue continued in the first quarter of the current financial year. Volatility, as measured by the CBOE Volatility Index, was higher than in the reference quarter (Q1 2024) and is evidence of intensified stock market trading, from which Baader Bank can also benefit. Moreover, both trading turnover, due to a gain in market share, and the number of orders on the gettex trading platform, which acts as a main driver, recorded an increase. Stock exchange turnover also rose significantly once again. Earnings from Baader Bank's trading business almost doubled to EUR 33.7 million (Q1 2024: EUR 17.0 million).

Earnings from the commission business also saw strong development and increased by around 8 % to EUR 32.8 million (Q1 2024: EUR 30.2 million). At EUR 11.4 million, earnings from the interest business made a constant contribution to earnings slightly above the previous year's level (Q1 2024: EUR 11.0 million). At EUR 3.1 million, sales revenues increased slightly (Q1 2024: EUR 2.7 million). The total revenue is therefore EUR 82.3 million (Q1 2024: EUR 62.2 million), constituting an increase of 32 %.

In contrast, total expenses in the first quarter of the current financial year increased by 18 %, at a significantly lower rate, to EUR 61.5 million (Q1 2024: EUR 52.3 million). Personnel expenses totalled EUR 26.9 million (Q1 2024: EUR 21.2 million), due mainly to planned workforce expansions and the variable remuneration components for the current financial year. As at 31/03/2025, the Group had 643 employees (in full-time equivalents) (Q1 2024: 566).

Operating expenditure also rose to EUR 27.7 million (Q1 2024: EUR 21.0 million). This was driven by factors such as by investments to further optimise the Bank's platform functionalities and a higher level of expenditure due to growth. Pension expenses in the amount of EUR 7.0 million (Q1 2024: EUR 10.2 million) includes allocations to the fund for general banking risks¹ at EUR 2.5 million (Q1 2024: EUR 8.5 million).

The expected positive contributions to earnings made by the three subsidiaries of Baader Bank Group - Baader Helvea Group in Switzerland, Baader & Heins Capital Management AG and Selan Group - bolstered Baader Bank's quarterly result.

Focus on Baader Bank's trading services

The current financial year will see Baader Bank continue to focus on its marketing initiative for its trading offering under the brand name Baader Trading. Alongside consolidating the Bank's market position, an increasing brand awareness, as well as optimising the trading portfolio in collaboration with the Bank's numerous trading partners is key. In the first quarter, Baader Bank expanded the trading services on offer by extending its trading hours together with gettex — the previous trading hours of 08:00 to 22:00 have now been extended by 1.5 hours and are now 07:30 to 23:00. All securities available on gettex and traded by Baader Bank as the exclusive market maker are now eligible for the extended trading hours. The universe comprises some 8400 equities, 15,000 bonds, 7100 funds and 2900 ETPs. The extended trading hours also apply to over-the-counter trading at Baader Bank.

This also brings positive momentum to the account and securities account business, which continued to grow in the first quarter of 2025. Managed customer assets, consisting of securities account volumes and customer deposits, amount to EUR 48.2 billion (31/12/2024: EUR 46.7 billion). In addition, Baader Bank is establishing new B2B partnerships within the cooperation business and extending its product offerings, which will drive forwards Baader Bank's diversification. In the B2B2C cooperation business, the trading business with cryptocurrencies is also experiencing further volume increases compared to the first quarter of the previous year.

Solid capitalisation for investment and growth

As at 31/03/2025, Baader Bank's total assets decrease slightly to EUR 4.6 billion within the first quarter compared to the end of the previous financial year (31/12/2024: EUR 4.8 billion), mainly as a result of the moderate decline in deposit volumes during Q1 2025.

Baader Bank's equity increases to EUR 202.2 million (31/12/2024: EUR 189.4 million) and the consolidated return on equity after tax amounted to 27.5 % at the end of the first quarter of 2025 (Q1 2024: 10.4%). As at the end of the quarter, the aggregate regulatory capital ratio, considering the CRR III requirements, was 19.7 %, which is above the minimum regulatory requirements. In addition to planned retention measures from the 2024 annual result, the equity base will be further strengthened in the course of 2025. Working from this basis, Baader Bank has sufficient capacity for further investments and growth.

Baader Bank's annual report for 2024 will be made available in the "Financial reports archive" section of the bank's website on 28/05/2025 when the annual shareholders' meeting is convened. A separate combined non-financial report will also be published at the end of April on the Baader Bank website for the 2024 financial year.

¹ The transfer to the fund for general banking risks also takes into account the statutory transfer to the fund for general banking risks at the end of the year in accordance with Section 340e HGB.

Overview of key figures Q1 2025

All figutes are preliminary and unaudited

For further information and media inquiries:

Marlene Constanze Hartz

Senior Manager

Group Communication

T +49 89 5150 1044

marlene.hartz@baaderbank.de 

Baader Bank AG

Weihenstephaner Strasse 4

85716 Unterschleissheim, Germany

https://www.baaderbank.de

Next dates:

9-10/05/2025  Invest exhibition Stuttgart

28/05/2025  Publication of the Annual Report 2024

10/07/2025  Annual General Meeting 2025

About Baader Bank AG:

Baader Bank is one of the leading European partners for investment and banking services. Trading and banking are combined using a single powerful platform that offers a unique setup and optimum access to the capital market using a secure, automated and scalable approach. As a family-run full-service bank with its headquarters in Unter-schleissheim near Munich, Baader Bank AG employs around 650 staff members and operates in Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.