Business performance in the first nine months of Arno Walter, CEO Dietmar von Blücher, CFO

Transcription

1 Business performance in the first nine months of 2016 Arno Walter, CEO Dietmar von Blücher, CFO 2 November 2016

2 Firmly focussed on the pre-tax RoE target 2016 > 19% Around 107m pre-taxprofit after nine months 2.2bn net fund inflows intob2c custody accounts Key figures 2

3 Firmly focussedon the pre-tax RoEtarget 2016 > 19% after only nine months comdirect group, in million Pre-tax and after-tax profit Exceptional effect of VISA transaction Pre-tax profit After-tax profit Pre-tax RoE* Q32015 Q42015 Q12016 Q22016 Q % 9.3% 17.1% 45.9% 13.6% *Annualised 3

4 Lower costs can partly compensate diminishing operative earnings comdirect group, in million Pre-tax profit 9M 2016 vs 9M 2015 Especially nonrecurring effect from VISA transaction Historically low and further worsening interest environment Record trading year 2015 and highervaluation levels last year Lower sales expenses and specific investments % -8.5% -6.8%. /. Pre-tax profit 9M 2015 Delta net interest income Delta net commission income Delta administrative expenses Delta other income Pre-tax profit 9M

5 Running cost management comdirect group, in million Earnings Administrative expenses +5.3% of which VISA transaction: 41.1m % M M 2016 Other income Net interest income after loan losses Net commission income M M 2016 Depreciation Personnel expenses Other administrative expenses 5

6 Diminishing earnings due to a quieter trading summer and challenging interest rate conditions comdirect group, in million Net commission income Net interest income after provisions for possible loan losses % -0.09% -0.19% -0.26% -0.30% Q Q4 Q Q2 Q3 Q Q4 Q Q2 Q3 B2B comdirect group B2C Avg. 3M EURIBOR Executed orders B2C (million) 6

7 Active steering of expenses without change; marked increase of sales activities Q comdirect group, in million Other administrative expenses 48.1 Personnel expenses ,953 3,048 1,168 1,181 Q Q4 Q Q2 Q3 Q Q4 Q Q2 Q3 Number of customers (thousand) Number of FTEs (as of ) 7

8 Intact customer growth continues Thousands Customers 2,989 2,825 2,892 2,755 3,048 1,038 1, ,717 1,824 1,909 2,001 2, M 2016 B2B B2C 8

9 Continued growth in custody accounts: 44 thousand new B2C accounts after nine months Thousands Custody accounts 1,702 1,697 1,717 1,786 1,834 Current accounts CAGR: +5% 901 1,043 1,159 1,266 1,334 CAGR: +11% M M n/a CAGR: -2% n/a n/a CAGR: +2% B2B B2C Number of securities holders* in Germany (million) Number of current accounts** in Germany (million) *Source: Deutsches Aktieninstitut shareholder figures 2015, all securities investments (custody accounts) **Source: Deutsche Bundesbank 9

10 69.9bn of customer assets in billion Portfolio volume CAGR: +10% Volume of deposits M M ,612 9,552 9,806 10,743 10,511 B2B B2C DAX-index at quarter/year-end 10

11 2.2bn net investments into B2C custody accounts comdirect group, in billion Assets under custody Δ Deposit volume Δ Portfolio volume Market value effects M Mrd. Net fund inflows Q Q Q M 2016: 4.9 Mrd. EUR Q Q3 B2B B2C DAX Portfolio volume Volume of deposits 11

12 Thetop address forinvesting, saving andtrading securities Smart financial companion formodern customers Strategy 12

13 Strategy with good progress also in Q3 Go live with first results External communication Start flagships/ implemen -tation Approval Kick-off 07/ / / / /2016 et seq.

14 comdirect successful with regard to the aspiration to be top address for investing, saving and trading securities 14 Award winner AnlageAssistent (Euro am Sonntag) Award winner securities saving plans red dot award for trading App Customer innovation award 2016 for ETF bonus savings Award winner smartpay app

15 comdirect as smart financial companion: two further banking innovations support growth Multibanking MoBox *Multi-banking via comdirect banking App since comdirect as a smart financial centre Always accessible as a desktop-solution on the Web Live since 09/2016* Integration of accounts/deposits of foreign institutes in the comdirect structure The App for comdirect JuniorGiro Live since 09/2016 Innovative Features: virtual saving targets or transfers via QR-Code

16 comdirect makes an active contribution to the development of the German banking market finanzblog award and Finanzbarcamp Innovation Bootcamp and Fintech Week 16 Start-up Garage Hackathon Collabothon

17 Powerful push ofthestrategy providesfirst results alreadyin2016 Strong 2.2bn net fund inflows inb2c custody accounts Around 107m pre-tax profit after nine months; Firmly focussedonthepre-taxroetarget 2016 > 19% 17

18 @Arno_Walter 18

19 19 Notes

20 IFRS income statement Thousands 9M M 2016 Interest income 125, ,489 Interest expenses 21,530 13,185 Net interest income before provisions for possible loan losses 104,106 91,304 Provisions for possible loan losses -2, Net interest income after provisions for possible loan losses 101,819 91,781 Commission income 292, ,039 Commission expenses 117, ,136 Net commission income 174, ,903 Trading result and result from hedge accounting Result from financial investments 3,757 42,475 Administrative expenses 205, ,101 Personnel expenses 60,963 65,529 Other administrative expenses 132, ,252 Depreciation 11,829 10,320 Other operating result 2,346 3,890 Pre-tax profit 77, ,907 Taxes on income 21,156 27,003 Net profit 56,720 79,904 20

21 IFRS consolidated statement of financial position in million Assets Liabilities and equity 16, ,228 3, , ,224 3, , , ,045 17,223 Other assets Cash reserve Financial investments Claims on customers Claims on banks 11,699 12, M M 2016 Other liabilities Provisions Liabilities to customers Equity 21

22 comdirect share As of: Shareholder structure(%) Free Float Price per share(xetra/ ) Commerzbank Q3 15 Q4 Q1 16 Q2 Q3 ISIN: DE Stock exchange segment: Prime Standard Reuters/Bloomberg abbrev.: CDBG.DE/COM GR Outstanding shares: 141,220,815 Closing price: 9.10 Market capitalisation: 1,285m Avg. daily turnover 9M 2016 (units) - XETRA: 22,441 - Frankfurt: 1,499 22

23 2017 financial calendar 31 January Analysts conference, Frankfurt/Main 28 March Annual report April Quarterly report 11 May Annual general meeting, Hamburg 25 July Half-year report 2 November Nine-month report 23

24 Investor Relations For further information, please contact: Dr André Martens Tel +49 (0) 4106 / andre.martens@comdirect.de Tobias Vossberg Tel +49 (0) 4106 / tobias.vossberg@comdirect.de 24