ABC Arbitrage (ABCA) H1 2025 earnings summary

Executive summary

• Net income for HY 2025 reached €17.7 million, up 99.5% year-over-year, with EPS at €0.30 and annualized ROE at 20.3%.

• The group achieved its 61st consecutive half-year of positive results, maintaining an average annualized ROE above 15% over 30 years.

• Focus on systematic arbitrage and quantitative strategies across 100 global exchanges, with strong risk management and proprietary capital investment.

• 2025 is the final year of the Springboard 2025 strategic plan, emphasizing innovation, HR, and IT investments.

• Quartys reported net profit of €24 million, doubling year-over-year, driven by robust quantitative models.

Financial highlights

• Net revenues for HY 2025: €36.5 million, up 59.9% year-over-year.

• EBIT for HY 2025: €18 million; annualized ROE: 20.3%.

• Payroll costs increased 41.2% year-over-year, reflecting ongoing R&D and HR investments.

• Client assets under management declined to €231 million as of September 1, 2025.

• Net gains on financial instruments at fair value through profit or loss were €24.3 million, up from €12.4 million in H1 2024.

Outlook and guidance

• Activity levels at the start of H2 2025 are lower than H1 due to reduced volatility, but full-year activity remains 40% above 2024 monthly averages.

• 2025 budget includes +€2 million HR and +€1.5 million IT cost increases; further investments planned.

• Next three-year strategic plan for 2026-2028 to be presented in March 2026, aiming for sustainable medium-term profitability.