FinecoBank Banca Fineco (FBK) investor relations material

Executive summary

• Net profit for 1Q26 was €162.2 million, stable year-over-year despite a higher tax rate, with revenues up 4.1% to €342.9 million, driven by all product areas: Investing (+8.0%), Brokerage (+5.2%), and Banking (+1.9%).

• Net sales surged 43.8% year-on-year to €4.6 billion, with April net sales at €1.3 billion (+6% y/y), supported by strong deposit growth and expanding client base.

• 65,029 new clients were acquired in 1Q26 (+17.6% y/y), bringing the total to 1,850,331 (+9.0% y/y).

• Upgraded 2026 and 2029 outlooks reflect stronger-than-expected net sales, client growth, and brokerage performance.

• Total Financial Assets (TFA) rose to €162.1 billion, up 14.0% year-over-year, driven by strong net sales and client acquisition.

Financial highlights

• Total revenues for 1Q26 were €342.9 million (+4.1% y/y); net financial income grew 1.0% y/y, net non-financial income rose 7.7% y/y.

• Operating costs were €95.1 million (+9.0% y/y), but only +5.2% y/y excluding additional growth-related expenses.

• Cost/income ratio at 27.7%, reflecting strong operating leverage and efficiency.

• Gross operating profit reached €247.8 million (+2.4% y/y); profit before taxes was €241.1 million (+2.0% y/y).

• ROE stood at 24%.

Outlook and guidance

• Upgraded guidance for 2026 and 2029, driven by strong net sales, client growth, and brokerage; all product areas expected to contribute to higher revenues.

• Net financial income expected to rise, supported by deposit net sales and higher rates.

• Operating costs projected to grow ~6% y/y, excluding €10 million for growth initiatives and €5 million for pan-EU platform setup.

• Cost/income ratio expected to remain comfortably below 30%; payout ratio for 2026 targeted at 70–80%; leverage ratio goal above 4.5.

• Payout ratio for 2026 expected between 70–80%.