Tradegate (T2G) H1 2025 earnings summary

Executive summary

• Transaction volume rose 52.5% year-over-year to €244.14 billion in H1 2025, with transaction count up 50.7% to 36.06 million.

• Net income increased 60.9% to €28.1 million, and operating income rose 61.2% to €40.4 million compared to H1 2024.

• Earnings per share improved to €1.15 from €0.71 year-over-year.

• Workforce expanded to 167 employees, up from 160 at year-end 2024.

Financial highlights

• Revenue from trading activities (Handelsergebnis) accounted for 98.3% of gross income, up from 94.4% in H1 2024.

• Cost/income ratio improved to 63.7% from 68.3% year-over-year.

• Equity ratio decreased to 47.2% from 53.7% year-over-year.

• Balance sheet total increased 18.2% to €461.4 million since year-end 2024.

Outlook and guidance

• Comparable growth in transactions and volume expected in early H2 2025, with a slowdown anticipated in Q4 due to strong prior-year comparables.

• Full-year transaction and volume records projected to surpass 2021 levels.

• No extraordinary new risks expected for H2 2025.