Final FY23 figures below prelims // Strong start into 2024; chg. Topic: Netfonds released final FY23 figures that fell short of prelims due to one-off effects. Further, the company reported record Q1 prelims above expectations, proofing that it is on track to reach its FY24 and mid-term guidance. In detail: FY23 gross sales came in at €  [ … ]

Netfonds beat expectations // Strong FY23 prelims; chg Netfonds reported strong FY23 prelims beating our expectations. Further, the company provided a new guidance for FY24 that remained rather vague for the moment. In detail: Gross sales came in at € 197m (+12% yoy), clearly above our estimate of € 191m. Key driver were the busines [ … ]

Favorable trends to materialize in 2024 Netfonds should strongly benefit from several favorable macroeconomic and structural trends in 2024: Strong dollar and equity capital markets close to all-time highs. With c. € 23.2bn AuC in FY23e (eNuW), Netfonds topline is obviously correlated to the overall capital markets development. The recen [ … ]

Strategic acquisition to improve profitability; chg Yesterday, Netfonds announced to have acquired a majority stake in “Meine Finanzkanzlei GmbH” (“MFK”) through its fully owned subsidiary NVS Netfonds Versicherungsservice AG. In detail: We assume that Netfonds has acquired a stake of 65-85% (eNuW) at a low to mid, sin [ … ]

FY23 guidance in reach after solid Q3 figures; chg Netfonds published solid Q3 figures with further sequential top and bottom line growth and confirmed its FY23 guidance. In detail: Gross sales came in at € 48.4m (21% yoy, 4% qoq), broadly in line with our estimate of € 49.0m. The sequential improvement is mainly driven by the stron [ … ]