Flow Traders BV

Flow Traders Ltd reported a net profit of EUR40.8 million and earnings per share of EUR0.93 for the second quarter of 2026, while shareholders' equity reached a record EUR970 million, up 6% quarter-on-quarter. The company's ETF value traded increased 34% year-on-year, outperforming a broader market that saw volumes decline 14% quarter-on-quarter, and it achieved a 53% return on trading capital in Q2 and a 55% return for the first half. Net trading income totaled EUR147.8 million, with the traditional business contributing EUR131.7 million and the digital assets business adding EUR16.1 million, though digital assets NTI fell 26% quarter-on-quarter amid subdued crypto market activity. Fixed operating expenses rose 6% quarter-on-quarter to EUR59.3 million, driven by technology investments, and the company maintained a 43% EBITDA margin with EBITDA of EUR63.6 million. Trading capital grew 5% to EUR1.2 billion, and the company reiterated its full-year 2026 fixed operating expense guidance of EUR235 million to EUR245 million as it executes its Horizon 2030 strategy.

Flow Traders has unveiled its Horizon 2030 strategy, targeting net trading income above €1 billion, return on trading capital above 50%, and an EBITDA margin above 45% by 2030. The Amsterdam-based firm aims to become the 24/7 liquidity provider of choice by expanding its ETF and digital asset franchises, entering tokenized asset trading, and building a unified multi-asset distribution model. Trading capital has already grown 75% to approximately €1.1 billion since the second quarter of 2024, and the company plans to retain all profits to fund growth. For 2026, fixed operating expenses are guided at €235–245 million, with the benefits of current investments expected to materialize in net trading income from the second half of 2027 onward.