Tradegate (T2G) H2 2025 earnings summary

Executive summary

• Achieved record transaction volume in 2025, with a 48.7% increase in trades and 44.5% growth in trading volume year-over-year, surpassing previous records.

• Net income rose to €51.3 million from €29.4 million in the prior year, driven by strong trading activity and improved operational performance.

• Maintained a leading market position in German and European retail securities trading, with a stable market share of 88.7–91% in core segments.

• Continued strategic investments in IT infrastructure and expansion of product offerings, including new certificates and direct trading platforms.

Financial highlights

• Revenue (Umsatzäquivalent) increased to €200.9 million from €141.9 million year-over-year.

• Net trading result (Handelsbestand) rose to €183.4 million from €125.1 million year-over-year.

• Operating income (Ergebnis der normalen Geschäftstätigkeit) grew by 48.4% to €74.2 million.

• Cost-income ratio improved to 64.3% from 66.0% year-over-year.

• Equity ratio increased to 37.5% from 33.8% year-over-year.

Outlook and guidance

• Expects continued growth in trading volume for 2026, with no anticipated revenue declines.

• Plans further investments in IT and personnel to support business expansion and future growth.

• Management remains cautious due to market volatility and external uncertainties, but aims for stable results at least at the prior-year level.