Netfonds AG Shows Strong Growth Despite Challenges

Netfonds AG demonstrated strong Q3 performance, reporting a record gross sales of €70.4 million, a 25% year-on-year increase, surpassing expectations of €67 million. This growth was spurred by robust assets under administration (AuA), which reached €30.75 billion at the end of September, up from €27.2 billion the previous year.

However, the bottom line did not reflect similar positivity. EBITDA increased by 11% to €2.1 million, but fell short of the estimated €3.1 million. Personnel expenses rose by 12%, contributing to this shortfall, alongside other operational costs. Despite these challenges, the company remains optimistic about achieving its fiscal year 2025 targets.

In strategic moves, Netfonds appointed Christian Hammer to the Management Board, with expectations to leverage his extensive experience to drive future growth. Additionally, the company's proprietary finfire platform is anticipated to enhance scalability and fuel consolidation in the insurance broker market.