Flow Traders shares plummet as CEO steps down

Flow Traders

24/04/2025 08:37

**  Shares in Flow Traders FLOW.AS plummet more than 17% as it announced CEO Mike Kuehnel will step down in August, which ING sees as the big news of the Q1 release

** ING describes Kuehnel as a visionary, while KBC Securities says the departure puts a negative spin on the results

** Flow Traders posts Q1 total income of 135.1 million euros ($153.50 million) below the consensus of 142.1 million as cited by KBC

** "Solid trading income but one-offs spoil the result", KBC says, pointing to 15 million euros of on-offs including a 10 million euro impairment on intangibles, bring the bottom line significantly below consensus

** Shares on track for their worst day since late July, if the losses hold

($1 = 0.8801 euros)

 (Reporting by Michal Aleksandrowicz)

 ((michal.aleksandrowicz@tr.com))