Investor Presentaiton
BOURSORAMA BREAK-EVEN IN Q1 23
Strong increase in revenues
Decrease in acquisition costs
Revenues (excl. PEL/CEL & onboarding costs, basis 100 in 2019)
_Avg.cost of Client onboarding (basis 100 in 2019) and number of
new Clients ('000)
200
150
100
50
اس
0
Q1 19
Q1 20
Q1 21
Q1 22
Q1 23
Acquisition Cost/New
Client
100
80
60
New Clients ('000)
An efficient model
_ Operating Cost per Client (basis 100 in 2019) and
clients per FTE
Operating
Cost/Client
400
100
200
80
60
60
60
40
40
20
Clients/FTE
5,000
4,000
3,000
2,000
40
0
0
1,000
Q1 19
Q1 20
Q1 21
Q1 22
Q1 23
2019
2020
2021
2022
2023
Revenues x1.6 vs. Q1 22 (excluding new clients'
onboarding costs)
Acceleration in revenues driven by:
Enlarged client base combined with a higher
equipment rate (consistent trend by cohort)
. Steady increase in deposits and savings collection
in a positive interest rate environment
Continuous strong client acquisition
rhythm (x1.5 vs. Q121)
Confirmed decrease in acquisition cost per
client (-9% vs. Q1 22, -21% vs. Q1 21)
Cost-to-serve further down (-11% in avg.
p.a. since 2019)
Contained FTE increase to support client
base expansion (898 FTE in Q1 23, +46 FTE
vs. end 2021)
SOCIETE
GENERALE
1ST QUARTER 2023 RESULTS | 12 MAY 2023
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