AMSTERDAM, the Netherlands – 13 November 2015. Flow Traders N.V. (“the Company” or “Flow Traders”) (Euronext: FLOW), a leading global technology-enabled liquidity provider specializing in exchange traded products (“ETPs”), today announced its results for the third quarter, ending 30 September 2015.

Q3 2015 Key Highlights
Net Trading Income increased 32% to €92.8 million (2Q15: €70.5 million) as a result of strong growth in the underlying market resulting in higher revenue capture and trading volumes, boosted by periods of higher volatility in some financial markets
YTD NTI was €240.2 million compared to €99.5 million for the same period last year
ETPs traded value increased 20% to €180 billion (2Q15: €150 billion), revenue capture increased by 0.4 basis point to 5.1 basis points
Adjusted EBITDA[1] increased 32% to €48.4 million (2Q15: €36.7 million) with an adjusted EBITDA margin remaining stable at 52% (2Q15: 52%) resulting from relatively low and stable fixed operating expenses. YTD adjusted EBITDA was €125.4 million compared to €44.0 million last year
Adjusted net profit increased 29% to €37.9 million (2Q14: €29.4 million) with an adjusted net margin of 40.8%; net profit increased to €36.9 million in 3Q15
Adjusted earnings per share were €0.81 and earnings per share were €0.79
Interim dividend paid out was €0.50 per share
Dennis Dijkstra, co-CEO of Flow Traders commented: “In the third quarter, the ETP market continued to see inflows[2] in all asset classes including, equities, commodities, currencies and fixed income. This favourable environment, coupled with the strong performance of our teams globally, is reflected in our record results. We have leveraged our diversified regions and asset classes to benefit from increases in trading volumes in line with the growth of the markets.”

Sjoerd Rietberg co-CEO of Flow Traders commented: “Global ETP trading volumes were 20% higher in 3Q15 than in 2Q15. This was predominantly a result of various financial market events in the US during the period and the continuing underlying trend of strong inflows to the ETP market. Our ETP value traded increased 20% compared to 2Q15, in line with market volumes. Our net trading income increased 32% compared to 2Q15 and 141% YTD15 compared to YTD14 as a result of improvements in our pricing and infrastructure, the strong growth in the underlying market, and was further boosted by certain periods of high volatility in the markets.”

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[1]2015 Adjustments relates to extra ordinary expenses in relation with the IPO. YTD Adjustments relating to SARs expenses amounted €33.2 million (Q3 €0.2 million), IPO expenses €1.8 million (Q3 €1.0 million) and tax effect €4.0 million (Q3 €0.2 million.

[2]Source for AuM: Blackrock ETP Landscape.

tijd 09.02
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