Operator

Hello. Welcome to the Flow Traders First Quarter 2026 Trading Update Conference Call. [Operator Instructions] I would now like to hand over the call over to Dick Peters. Please go ahead.

Dick Peters

Thank you. Good morning, and thank you for joining Flow Traders First Quarter 2026 Trading Update Presentation. As you may have seen, we published our trading update earlier this morning. I'm joined today by our CEO, Thomas Spitz; and our co-Chief Trading Officer, Alex Kieft, who will take you through the results.

After our prepared remarks, we will be happy to take any questions you may have. Before we begin, let me draw your attention to the disclaimer on Page 2. As always, this presentation is for information purposes only. Any results will be discussed are unaudited.

I will now hand over to Thomas for the trading update snapshot.

Thomas Spitz
CEO & Executive director

Thank you, Dick, and good morning, everyone. Let me start with a high level review of our quarter 1 performance. We delivered a strong first quarter, resulting in a net profit of EUR 50.4 million and EPS of EUR 1.15. Our ETP value traded increased 27% year-on-year and 25% quarter-on-quarter, underscoring the healthy trading environment.

Our total value traded grew 27% year-on-year. In the first quarter, we generated an NTI of EUR 155.9 million, increased slightly by EUR 1.8 million in other income, leading to a total income of EUR 158 million. Our fixed operating expenses were EUR 56.1 million in Q1, in line with