1 3 J U N E 2 0 2 4
Flow Traders Ltd.
Annual General
Meeting
Disclaimer
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Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full- year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders' control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders' actual results of operations.
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2
AGM Agenda
- Item
-
Opening and announcements
2 Report of the Board
2.a Report of the Board for the financial year 2023 (discussion item)
2.b Annual accounts for the financial year 2023 (discussion item)
2.c Dividend policy (discussion item)
2.d Dividend (non-binding advisory voting item)
2.e Remuneration Report for the financial year 2023 (non-binding advisory voting item) 3 Composition of the Board
3.a Proposal to re-elect Mr Jan van Kuijk to the Board (voting item) 3.b Proposal to elect Mr Owain Lloyd to the Board (voting item)
4 Authority to issue shares and exclude or limit pre-emptive rights 4.a Authority to issue shares (voting item)
4.b Authority to exclude or limit pre-emptive rights (voting item) 5 Authority to purchase own shares (voting item)
6 Auditor (voting item)
7 Any other business and closing
3
1. Opening and announcements
- Item
- Opening and announcements
4
1. Opening and announcements
Rudolf Ferscha
Chairman & Non-
Executive Director
Karen Frank
Non-Executive Director
Jan van Kuijk Vice-Chairman& Non- Executive Director
Mike Kuehnel
Chief Executive Officer & Executive Director
Delfin Rueda Arroyo
Non-Executive Director
Hermien Smeets - Flier
Chief Financial Officer &
Executive Director
Linda Hovius
Non-Executive Director
Owain Lloyd
Chief Technology Officer
- Executive Director nominee
Paul Hilgers
Non-Executive Director
Other
Coen van Sevenhoven
Global Co-Head of Trading
Marc Jansen
Global Co-Head of Trading
Anke Snaak
Ernst & Young
Accounts LLP
Eric Pan
Head of Investors Relations
5
Test question
Will the AEX index be higher at the end of the year than it was on Jan. 1?
- For
- Against
- Abstain
6
2.a Report of the Board
- Item
-
Report of the Board
2.a Report of the Board for the financial year 2023 (discussion item) - Report from the CEO and CFO
- Report from the Chairman
- Q&A
7
2.a.i - Report from the CEO and CFO
Discussion item
Mike Kuehnel | Hermien Smeets - Flier |
Chief Executive Officer & | Chief Financial Officer & |
Executive Director | Executive Director |
8
2.a.i 2023 performance overview
ETP Value Traded (€bn)
Flow Traders
Market
51,811
43,081
1,7751,464
FY22FY23
Normalized EBITDA (€m) and margin
45%
208.2
31%
Normalized Total Income (€m)
NTI
Other income
460.6
1.1
299.8
459.5
300.3
-0.5
FY22FY23
Normalized Net Profit (€m)
150.2
Summary
| Market trading volumes and volatility |
across all major asset classes were | |
subdued throughout 2023 and reached | |
some of the lowest levels we have seen | |
in the past decade. | |
| Market ETP Value Traded decreased by |
17% FY23 vs FY22. | |
| Flow Traders ETP Value Traded |
decreased by 18% in FY23 vs FY22. | |
| Flow Traders recorded a Normalized |
Total Income of €299.8m in FY23 vs | |
€460.6m in FY22. | |
| Flow Traders recorded a Normalized |
EBITDA of €92.2m, with a margin of 31%, |
92.2
59.5
FY22 | FY23 | FY22 | FY23 |
down from €208.2m and with a margin |
of 45% in FY22. |
The firm generated Normalized Net |
Profit of €59.5m in FY23 vs €150.2 in |
FY22. |
9
2.a.i 2023 regional performance overview
Market ETP Value Traded (€bn)
2,371
2,039
EMEA
FY22FY23
44,675
35,875
Americas
FY22FY23
Flow ETP Value Traded (€bn) | NTI (€m) | |||||
787 | 313 | |||||
617 | ||||||
162 | ||||||
FY22 | FY23 | FY22 | FY23 | |||
892 | 92 | 83 | ||||
753 | ||||||
FY22 | FY23 | FY22 | FY23 |
Summary
| Flow Traders maintained strong positions |
throughout 2023 amidst subdued market | |
trading volumes and low volatility which | |
resulted in lower turnover and tighter | |
bid/ask spreads. | |
| The firm continued to invest in the digital |
assets space with noticeable results in | |
EMEA and the Americas given the | |
increased institutional interest over the | |
past year, which further increased due to | |
the SEC's U.S. Spot Bitcoin approval and | |
subsequent listings in the U.S. in Jan | |
2024. | |
| We grew our international ETF equity |
offering by leveraging its existing |
4,764
Asia
5,168
96 | 93 | 55 | 55 |
capabilities, adding ADRs to our product | |
coverage. | |
| Expanded our Americas footprint with |
the establishment of the Chicago office. | |
| Positive contribution from our China |
FY22FY23FY22FY23FY22FY23
Note: Asia market ETP value traded excludes China
trading operations in the first year |
following the approval of our QFII license |
and opening of our Shanghai office. | 10 |
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Flow Traders Ltd. published this content on 13 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2024 10:33:03 UTC.