Laiqon : Geschäftsbericht 2022 EN

Annual report

2022

Hamburg

Berlin

Frankfurt

Munich

	2022	2022	2021	2020
	"As if" *
Assets under management	5.7	5.7	2.2	1.7
LLOYD FONDS LIQUID ASSETS (EUR billion)
Group figures
EUR million
Sales (gross)	26.8	21.6	26.1	27.7
EBITDA	-6.0	-9.9	4.6	7.0
Cash flow from operating activities	n/a	-2.8	20.0	-0.9
Total assets	139.8	139.8	116.9	113.7
Equity	72.1	72.1	48.4	42.7
Equity ratio (%)	51.5	51.5	41.3	37.6
Employees (as of December 31)	185 **	185 **	80 ***	69 ***

Percentages based on figures expressed as EUR thousands. * "As if" view, see explanation on page 3.

• Including employees of Bayerische Vermögen-Gruppe/growney GmbH (including Management Board, employees on maternity or parental leave, trainees and temporary­ staff).
• Excluding Management Board, employees on maternity or parental leave, trainees and temporary staff.

Assets under management in 2022: EUR 5.7 billion

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Changes in assets under management (EUR billion)

6							5.7
				%
4			CAGR:	73			Non-organic
					%
				CAGR:	42
2							+ EUR 800 million
	+ EUR 600 million		+ EUR 500 million	2.2	Organic
1.1	1.7
0
2019		2020				2021	2022

The LAIQON Group's assets under management increased to around EUR 5.7 billion in 2022 (previous year: EUR 2.2 billion). As a result, the forecast announced on May 24, 2022 of an increase in assets under management to EUR 5.5-6.0 billion in 2022 was achieved. This includes organic growth of around EUR 0.8 billion and non-organic growth of around EUR 2.7 billion. Overall, assets under management have thus increased at a compound annual growth rate (CAGR) of around 73 % since 2019.

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Conference room on the 6th floor, Hamburg

LAIQON AG "As if" view

The purpose of the "as if" view is to provide a more transparent impression of the earnings situation following the substantial changes to the reporting entity structure within the LAIQON Group. BV Holding AG has been consolidated since April 1, 2022 following the completion of the BaFin owner control proceedings. The "as if" view includes BV Holding AG (Bayerische Vermögen Group) as well as Selection Asset Management GmbH from January 1, 2022 as the retroactive merger and the corresponding profit and loss transfer agreements took effect from that day following the completion of the "squeeze-out" transaction under merger law. Lange Assets

• Consulting GmbH was previously accounted for as an investee in the consolidated financial statements but has been fully consoli- dated since June 30, 2022.

LAIQON AG - "as if" view

			LAIQON Group "as if" view
"As if" view		BV Holding AG (fully consolidated from April 1, 2022);
	Selection Asset Management GmbH (fully consolidated from
		December 1, 2022)
				Lange Assets & Consulting GmbH
"As if" view
	(fully consolidated from June 30, 2022)

Q1		Q2		Q3		Q4

"As if" sales in 2022: EUR 26.8 million

All in all, the LAIQON Group generated sales of EUR 26.8 million in 2022 in an "as if" view from January 1, 2022. This slightly exceeded the previous year's level (EUR 26.1 million), although performance fees of around EUR 9.3 million had been included in sales due to developments in the capital market in 2021. Fixed sales of EUR 26.0 million were achieved, equivalent to a further increase of 55 percent over the previous year's figure of EUR 16.8 million. After­ no significant performance fees were collected from asset management in the first half of 2022, performance fees of around EUR

0.8 million were invoiced in the second half of the year. Overall, sales have thus increased by 227 % since 2019.

"As if" EBITDA 2022: EUR -6.0 million

All in all, the LAIQON Group generated EBITDA of EUR -6.0 million in 2022 in an "as if" view from January 1, 2022 (previous year: EUR 4.6 million). The ongoing integration of the acquired companies on the platform and the resultant additional scaling effects as well as the GROWTH 25 initiatives led to a significant improvement in operating earnings in the second half of 2022. "As if" EBITDA improved to EUR -1.6 million in the second half of 2022 (first half of 2022: EUR -4.4 million).

	30		27.7
					26,8*
				26.1		Perf. fee
	25
						0.8
				Perf. fee
			Perf. fee
million	20				%
	14.8	9.3	+55
		%
			+227
EUR	15
				26,0*
	10	8.2		16.8		Fixed
	5	8.2	12.9	Fixed
	Fixed
		Fixed
	0
		2019	2020	2021		2022*

• "As if" view of the full reporting entity structure including BV Holding AG/Selection Asset Management GmbH/Lange Assets & Consulting GmbH.

	8
	6
	4		+7.0
	2		+4.6
million	0		Perf. fee	Perf. fee
-2
	14.8	9.3		H1
EUR	-4		-6,0*
-9.7
	-6				H2
	-8				Perf. fee
				0.8
	-10
	-12	EBITDA 2019	EBITDA 2020	EBITDA 2021	EBITDA 2022

• "As if" view of the full reporting entity structure including BV Holding AG/Selection Asset Management GmbH/Lange Assets & Consulting GmbH, adjusted for related non-recurring exceptional expenses.

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The Q at the center of LAIQON AG's new name seeks to express the fact that Company is positioning ­itself as a premium-quality provider in fund and asset management.

LAIQON AG - WEAlth. Next Generation.

Event space on the 6th floor, Hamburg

LAIQON head office,

Hamburg

Our aspiration:

Wealth. Next Generation.

LAIQON AG (LQAG) is an innovative financial services provider that currently generates returns for its partners and customers with over 50 wealth products and solutions. These are managed by portfolio management and asset management teams as well as on the basis of artificial intelligence.

Established in 1995, the bank-independent company has been listed on the stock exchange since 2005. LAIQON AG has been included in Deutsche Börse's "Scale" segment (ISIN: DE000A12UP29) since March 2017.

With its 2023/25 2.0 strategy, LAIQON AG is addressing both private individuals and institutional investors as a premium-quality provider offering a full range of sustainable products and solutions. LAIQON has positioned itself in three business segments, namely asset management, wealth management and digital wealth.

				3.7		1.5		0.5
				billion euros in assets		billion euros in assets		billion euros in assets
				under management		under management		under management
		Group		Asset management		Wealth management		Digital wealth
AG as a technological		Specialist in		Proactive 360° implemen-		AI-based investment
and sales enabler		active alpha strategies		tation of individual		solutions and ETF
						wealth goals		savings plans
- Strategy		- Over 1,000		- 2,500 clients		- 14,000 clients
- Finance		client relationships		- 10 standardized		- 15 standardized strategies
- Marketing		- Roughly 30 retail funds		asset management strategies		- 100 % individual solutions
- Distribution		- Roughly 40 special mandates		- 100 % individual solutions
- Sustainability
As of December 31, 2022

The Digital Asset Platform 4.0 strategy is the connecting element of the business model, enabling LAIQON AG to address the entire client value chain and to scale it as required.

The aim of Strategy 2023/25 2.0 is to position LAIQON AG as an innovative quality leader in asset management in Germany and as an asset management factory.

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