FLOW TRADERS REPORTS THIRD QUARTER 2016 RESULTS
Amsterdam, the Netherlands, 9 November 2016 - Flow Traders N.V. (Euronext: FLOW) today announced its 3Q16 results, delivering a 5% increase quarter-on-quarter in ETP Value Traded and further strengthening its market share globally. The markets in 3Q16 continued to be challenging, following a decline in volatility and trading activity by investors. As a consequence, Market ETP Value Traded globally saw a 7% decline quarter-on-quarter. Momentum in Global ETP Assets under Management however remained positive as it grew to a new high of € 3.0tn at the end of 3Q16.

The 5% quarter-on-quarter increase in Flow Traders' ETP Value Traded was driven by an increased exposure to a broader range of products on the back of technological improvements. With this, we positioned ourselves better for future growth within the fast growing ETP market. Following the challenging markets, Revenue Capture for the period decreased to 3.3 bps as a result of our product mix traded.

Overall Flow Traders is on its way to deliver the second best year since inception.

Flow Traders 3Q16 Key Highlights

Total Market ETP Value Traded decreased to € 4.71tn (-7% versus 2Q16) while Flow Traders' ETP Value Traded reached € 149bn (+5% versus 2Q16)
Net Trading Income reached € 48.8m (-28% versus 2Q16), as trading activity overall slowed down further over the summer
Revenue Capture reached 3.3 bps in 3Q16, reflecting low volatility and a decline in trading activity, especially in Europe
EBITDA margin remained strong at 42% for 3Q16 as costs developed in line with expectations
Net Income for 3Q16 reached € 15m, or EPS € 0.32 (-48% versus 2Q16). The 2Q16 results included a one-off tax benefit of € 4.5m or € 0.10 EPS
Trading Capital remained stable quarter on quarter at € 300m after payment of interim dividend in 3Q and is still very comfortably above all regulatory and prime broker requirements. Focus continues to be on maximizing profitability and returns to shareholders and paying at least 50% of our Net Profit in dividend
We further strengthened our Business Development, Trading and Technology teams across all regions, but especially in Asia and the US, and expanded our product coverage
In the Americas we started the Institutional Trading department during 3Q and expanded the number of venues we provide liquidity to, as we have become a member of IEX
Headcount overall grew by 19 employees to 325 end 3Q16, with an emphasis on the Americas and APAC


Flow Traders YTD September 2016 Key Highlights

Market ETP Assets under Management grew to € 3.0tn (US$ 3.39tn), again hitting the highest level on record
Year-to-date Market ETP Value Traded reached € 15.83tn, a 1% decline versus 9M15. First nine months 2015 included 3Q15, which was the most active quarter in history
Flow Traders' ETP Value Traded reached € 441bn in 9M16, versus € 462bn in 9M15, reflecting the low volatility and a decline in volumes in the market to date in 2016
Net Trading Income (NTI) was € 181.3m in 9M16, down 25% versus 9M15 and up 83% versus 9M14
Revenue Capture was 4.1bps in 9M16 versus 5.2bps in 9M15 and 2.9bps in 9M14
EBITDA Margin for 9M16 was 47% versus 52% in 9M15 (corrected for IPO costs) and 44% in 9M14
Net Profit was € 66.9m in 9M16, versus € 98.5m in 9M15 (corrected for IPO costs) and € 34.2m in 9M14
EPS in 9M16 was € 1.44 versus € 2.12 in 9M15 (corrected for IPO costs) and € 0.74 in 9M14


Consolidated quarterly and 9M results Flow Traders
€million, unless otherwise stated
3Q16 2Q16 Change 9M16 Adj.9M15 9M14 Change 9M16/9M15
ETP Value Traded (€bn) 149 141 +5% 441 462 341 -5%
Net Trading Income 49 68 -28% 181 240 99 -25%
EBITDA 21 33 -38% 86 125 44 -32%
EBITDA Margin 42% 48% 47% 52% 44%
Net Profit 15 29 -48% 67 98 34 -32%
EPS 0.32 0.62 -48% 1.44 2.12 0.74 -32%


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