Baader Bank increases consolidated earnings for 2024 with year-on-year growth across all key income components

All figures are based on preliminary and unaudited Group figures.

Baader Bank increases consolidated earnings for 2024 with year-on-year growth across all key income components

Provisional, unaudited consolidated figures indicate that during the past financial year Baader Bank has generated Group earnings before tax of EUR 40.2 million (2023: EUR 4.0 million). Earnings per share was EUR 0.48 (31 December 2023: EUR 0.06). As a result, the Group's consolidated earnings in the reporting period increased to EUR 247.7 million (2023: EUR 170.8 million), with significant year-on-year increases across all key income components.

Earnings from the interest business increased to EUR 48.5 million compared to the same period of the previous year (2023: EUR 35.8 million) and were positively influenced during the course of the year by the interest rate level and higher deposit volumes. Given the continued growth in the B2B and B2B2C cooperation partner business, earnings from the commission business increased during the past financial year to EUR 102.3 million (2023: EUR 79.5 million).

Earnings from the trading business rose to EUR 66.7 million in the reporting period (2023: EUR 37.4 million) due to a moderate increase in market volatility compared to the previous year and Baader Bank's acquisition of further market shares on the pertinent stock exchanges and trading venues. The aggregated number of trades and the volume for all asset classes has increased significantly on the previous year, with figures at a ten-year high — driven in particular by gettex.

The three subsidiaries of Baader Bank Group—the Swiss Baader Helvea Group, Baader & Heins Capital Management AG and the Selan Group—also made positive contributions to the preliminary consolidated earnings for 2024.

Cost increases due to investments, adequate risk provision and variable remuneration

Total year-on-year expenses in the 2024 financial year increased to a lesser extent than income, amounting to EUR 207.5 million for 2024 (2023: EUR 166.9 million). Personnel expenses at the end of the past financial year were EUR 92.2 million (2023: EUR 72.6 million); this figure has increased due to the growing staff structure and variable remuneration components that are based on total earnings. As at 31 December 2024, the Group had 631 employees (in full-time equivalents) (31 December 2023: 560).

Operating expenditure rose to EUR 97.5 million (2023: EUR 90.6 million) — due to investments throughout the year to optimise the IT infrastructure, expand platform functionality and implement strategic banking projects, including the expansion of the trading offering.

Pension expenses increased to EUR 17.8 million in the 2024 financial year (2023: EUR 3.7 million) and included allocations to the fund for general banking risks¹ of EUR 11.8 million (2023: EUR 6.8 million) as a result of the higher trading income.

Positive development in B2B cooperation business
The account and securities account business continued to grow throughout 2024 in terms of the number of securities accounts managed by Baader Bank, with more than 430,000 new securities accounts opened (31 December 2023: 1,277,000 securities accounts). Managed customer assets, consisting of securities account volumes and customer deposits, amount to EUR 46.7 billion (31 December 2023: EUR 31.7 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 efforts.

The trading business with cryptocurrencies is also experiencing further volume increases due to interest from investors and the growing B2B2C cooperation business. Baader Bank acts as a financial trading agent for cryptoassets in the crypto trading sector, offering cryptoasset safekeeping for customers through an approved crypto depositary. The focus is on the expansion of the Bank's existing crypto trading setup, including incorporating new B2B2C partners and implementing the increased regulatory requirements in the crypto services segment.

Furthermore, the marketing initiative for Baader Bank's trading offering under the brand name Baader Trading was accelerated and the first positive effects were seen during the reporting period. In October of the past financial year, Baader Bank expanded its trading offering by extending the trading hours for over-the-counter trading in equities, funds, ETPs and bonds. The previous trading hours of 08:00 to 22:00 have now been extended by 1.5 hours. The new hours are 07:30 to 23:00. These trading hours were also extended to gettex in January of the current financial year.

During the past financial year Baader Bank also started a cooperation in the capital market and trading business with Erste Group. The aim of this cooperation was to expand the service offering for customers of both companies. The cooperation includes activities in the equity capital markets business, in primary market sales and in deal execution services in Europe and North America, plus research services for institutional clients.

Sound capital resources form basis for further growth

Baader Bank's balance sheet total had increased to EUR 4.8 billion year on year as at 31 December 2024 (31 December 2023: EUR 3.9 billion). Baader Bank's equity had risen to EUR 189.4 million (31 December 2023: EUR 165.5 million) and the Group’s total capital ratio as at the reporting date was 23.6 % (31 December 2023: 23.0 %). With this basis, Baader Bank believes it is fundamentally in a solid position in respect of its ongoing business activities, taking further development potential into account.

The Board of Directors intends to pay a dividend for the 2024 financial year, subject to the relevant committee decisions and supervisory requirements. Baader Bank will publish the audited figures on 27 March 2025 as planned and the audited and approved consolidated financial statements for 2024 on 28 May 2025 as part of its annual report.

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 2024

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:

27/03/2025  Corporate News on the final annual results for 2024
30/04/2025  Corporate News on the results of the 1st quarter 2025
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 550 staff members and operates in Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.