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

Transcription

1 Business performance in the first six months of 2016 Arno Walter, CEO Dietmar von Blücher, CFO 26 July 2016

2 Numerous innovations of new strategy in the first half of First choice for saving, investing and trading in securities - Expansion of share saving plans Mobile trading app ETF bonus savings Best Online Broker 2016 Smart financial companion for modern customers - Own consumer loan product - SmartPay with archiving function - New corporate design

3 Almost 88m pre-tax profit after six months 3.5bn net fund inflows intocustody accounts RoEtarget 2016 > 19% before taxes Key figures 3

4 Almost 88m pre-tax profit after six 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 Q22015 Q32015 Q42015 Q12016 Q % 20.0% 9.3% 17.1% 45.9%* *Annualised 4

5 Lower costs nearly offset decrease in operating earnings comdirect group, in million Pre-tax profit H vs H Including nonrecurring effect from VISA transaction Historically low and further worsening interest environment Reduced valuation levels Lower sales expenses % -6.6% -7.7%. /. Pre-tax profit H Delta net interest income Delta net commission income Delta administrative expenses Delta other income Pre-tax profit H

6 Active cost management depending on operative earnings comdirect group, in million Earnings Administrative expenses +13.6% of which VISA transaction: 41.1m % H H Other income Net interest income after loan losses Net commission income 91.1 H H Depreciation Personnel expenses Other administrative expenses 6

7 Challenging environment apparent in relation to operating earnings comdirect group, in million Net commission income Net interest income after provisions for possible loan losses % -0.03% -0.09% -0.19% -0.26% Q Q3 Q4 Q Q2 Q Q3 Q4 Q Q2 B2B comdirect group B2C Avg. 3M EURIBOR Executed orders B2C (million) 7

8 Further active management of costs comdirect group, in million Other administrative expenses Personnel expenses ,920 3,021 1,153 1,186 Q Q3 Q4 Q Q2 Q Q3 Q4 Q Q2 Number of customers (thousand) Number of FTEs (as of ) 8

9 Profitability target 2016: pre-tax RoEof more than 19% comdirect group, in million Pre-tax and after-tax profit Exceptional effect of taxes/visa transaction Pre-tax profit After-tax profit Pre-tax RoE H % 17.5% 15.1% 15.5% 16.7% 31.9%* *Annualised 9

10 Continuous customer growth Thousands Customers 2,825 2,892 2,755 2,989 3,021 1,038 1, ,717 1,824 1,909 2,001 2, H B2B B2C 10

11 Continuation of dynamicgrowthin B2C custody accounts Thousands Custody accounts 1,702 1,697 1,717 1,786 1,814 Current accounts CAGR: +5% 901 1,043 1,159 1,266 1,310 CAGR: +11% H H 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 11

12 Growth in customer assets to 67.2bn in billion Portfolio volume Volume of deposits CAGR: +9% H H ,612 9,552 9,806 10,743 9,680 B2B B2C DAX-index at quarter/year-end 12

13 Continuing strong net investments into custody accounts: + 3.5bn comdirect group, in billion Assets under custody Δ Deposit volume Δ Portfolio volume Market value effects H bn Net fund inflows Q Q Q Q H1 2016: 4.3bn Q2 B2B B2C DAX Portfolio volume Volume of deposits 13

14 First choice for saving, investing and trading in securities Smart financial companion for modern customers Strategy 14

15 H1 2016: Strategic progress for investing, saving and trading with securities B2C robo-investing AnlageAssistent comdirect mobile trading app 15 Share savings plans ETF bonus savings

16 H1 2016: Strategic progress with smart solutions for modern customers SmartPay with archiving function 16 Own consumer loan product New corporate design, new web presence

17 comdirectwith numerousinnovationsfor smart, securities investment-savvy customersin the first half of the year Strong 3.5bn net fund inflows into custody accounts Almost 88m result as of end of the halfyear; RoEtarget 2016 > 19% 17

18 @Arno_Walter 18

19 19 Notes

20 IFRS income statement Thousands H H Interest income 84,329 71,223 Interest expenses 14,942 9,129 Net interest income before provisions for possible loan losses 69,387 62,094 Provisions for possible loan losses Net interest income after provisions for possible loan losses 68,950 62,997 Commission income 196, ,571 Commission expenses 80,014 71,127 Net commission income 116, ,444 Trading result and result from hedge accounting Result from financial investments 3,735 42,470 Administrative expenses 138, ,194 Personnel expenses 39,850 42,854 Other administrative expenses 91,114 78,333 Depreciation 7,959 7,007 Other operating result 1,330 2,202 Pre-tax profit 51,330 87,878 Taxes on income 13,745 21,571 Net profit 37,585 66,307 20

21 IFRSconsolidated statement of financial position in million Assets Liabilities and equity 16, ,228 17, ,217 16, , , , ,045 16,791 Other assets Cash reserve Financial investments Claims on customers Claims on banks 11,699 12, H H Other liabilities Provisions Liabilities to customers Equity 21

22 comdirect share As of: Shareholder structure (%) Free Float 18.7 Price per share (XETRA/ ) Commerzbank Q2 15 Q3 Q4 Q1 16 Q2 ISIN: DE Stock exchange segment: Prime Standard Index: SDAX Reuters/Bloomberg abbrev.: CDBG.DE/COM GR Outstanding shares: 141,220,815 Closing price: 9.16 Market capitalisation: 1,294m Avg. daily turnover H (units) - XETRA: 25,227 - Frankfurt: 1,621 22

23 2016 financial calendar 27 January Analysts conference, Frankfurt/Main 23 March Annual report April Quarterly report 12 May Annual general meeting, Hamburg 26 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