EQS-News: Improved earnings boost Baader Bank's H1 2025 result

Improved earnings boost Baader Bank's H1 2025 result

All figures are preliminary and unaudited Group figures

• With a result of EUR 49.1 million, Baader Bank has significantly increased Group earnings before tax for H1 2025 and has also achieved a consolidated return on equity after tax of 36.9 %.
• Total income for the first half of the year amounted to EUR 162.0 million, representing a year-on-year increase of 34 %, driven largely by a continued strong rise in trading income.
• The account and securities account business continues to see further growth.

With a result of EUR 49.1 million, Baader Bank more than doubled its Group earnings before tax in the first half of 2025 (H1 2024: EUR 20.3 million). Consolidated earnings rose to EUR 35.0 million (H1 2024: EUR 10.3 million) and earnings per share after tax to EUR 0.72 (H1 2024: EUR 0.21).

Following a strong start to 2025 in Q1, the positive momentum continued in Q2, with a key driver being the continued high trading volumes on stock exchanges and trading venues relevant to Baader Bank. During the period under review, volatility – as measured by the CBOE Volatility Index – peaked briefly when the US government announced substantial tariffs on its international trading partners in April, leading to temporary and strong fluctuations in global stock markets.

Accelerated stock market trading together with an increase in market share and higher order numbers, especially on the gettex trading platform, had a positive impact on the results from the trading activities, which increased significantly compared to first half of 2024 to EUR 68.8 million (H1 2024: EUR 31.5 million).

Results from the commission business recorded a slight increase of 6 % to EUR 59.2 million (H1 2024: EUR 56.0 million), whereas results from the interest business, at EUR 22.8 million, making a slightly lower contribution to earnings year on year (H1 2024: EUR 25.2 million) due to a decline in interest rates and a slight decrease in deposit volumes. At EUR 6.1 million, sales revenue increased slightly (H1 2024: EUR 5.0 million). The overall improvement in earnings can be seen in the total earnings of EUR 162.0 million (H1 2024: EUR 121.0 million).

On the other hand, total expenses in the first half of 2025 increased disproportionately by 12 % to EUR 112.9 million (H1 2024: EUR 100.7 million). Personnel expenses amounted to EUR 57.7 million (H1 2024: EUR 43.4 million), increasing due to the planned workforce expansion and higher variable remuneration components. As at 30/06/2025, the Group's total number of employees (in full-time equivalents) amounted to 656 (H1 2024: 579).

Operating expenses rose moderately to EUR 50.1 million (H1 2024: EUR 45.5 million). The pension expense decreased to EUR 5.2 million (H1 2024: EUR 11.8 million) and includes expected allocations to the fund of EUR 4.5 million for general banking risks¹ (H1 2024: EUR 9.3 million).

Both the Swiss Baader Helvea Group and the Selan Group contributed positively to Baader Bank's H1 results.

Consistent growth in account and securities account business and focus on trading offering

Baader Bank's account and securities account business is continuing to see further growth thanks to the ongoing diversification of the B2B2C business. With around 140,000 new accounts in the first six months of 2025, the number of securities accounts managed by Baader Bank rose to 1,846,000 accounts (31/12/2024: 1,708,000 securities accounts). At EUR 52.2 billion, managed customer assets, consisting of securities account volumes and customer deposits, have surpassed the figure of EUR 50 billion for the first time (31/12/2024: EUR 46.7 billion). In addition, new B2B partnerships and product expansions in Baader Bank's cooperation business are currently being developed or already in the implementation phase.

The B2B2C cooperation business has doubled its volumes in cryptocurrency trading compared to the first half of the previous year. At the end of June, Baader Bank received a MiCAR licence for the ‘execution of crypto assets orders for customers’, thus allowing Baader Bank to provide crypto asset services to its clients throughout the EU.

As the financial year progresses, Baader Bank is focusing on the marketing initiative for its trading offering under the brand name ‘Baader Trading’. In addition to increasing brand awareness, continuing to optimise the trading offering in collaboration with the Bank's numerous trading partners is key. For this purpose, Baader Bank launched a new pricing website with trading content in June, www.baadertrading.de, expanding the online presence for the Baader Trading offering. Baader Bank's presence has also been revamped by updating its website, www.baaderbank.de.

Strengthening the equity base

Baader Bank's total assets fell slightly in the first half of the year to EUR 4.3 billion (31/12/2024: EUR 4.8 billion), mainly due to a decline in the volume of securities accounts in the first half of 2025.

Equity increased to EUR 223.5 million (31/12/2024: EUR 189.4 million). The Group's return on equity after tax rose to 36.9 %, a significant increase on the previous year's figure (H1 2024: 12.5 %). The total regulatory capital ratio, considering the new CRR III requirements, stood at 19.74 % for H1 2025. The equity base will be further strengthened throughout 2025. With this solid equity base, Baader Bank is in a strong position to invest strategically in further growth.

On 10 July 2025, the Baader Bank shareholders' meeting adopted a resolution to pay shareholders a dividend of EUR 0.13 per share with dividend rights for the 2024 financial year.

2025 outlook

On 2 July 2025, Baader Bank updated its previous forecast for the 2025 financial year. In light of the positive earnings development for the first half of 2025, the Board of Directors thus anticipates the consolidated earnings before tax for the full year 2025 to be considerably higher than the consolidated earnings before tax for 2024 (EUR 40.2 million).

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 H1 2025

 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:

06/09/2025  ‘Börsentag Düsseldorf’

20/09/2025  ‘Börsentag Zürich’

22-25/09/2025  Baader Investment Conference

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 650 staff members and operates in Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.