Saxo Bank Anticipates Negative Impact on 2025 Revenue Following Restructuring

Saxo Bank anticipates a negative impact on its revenue in 2025 following its decision to restructure its distribution model and narrow the number of markets, which resulted in the offboarding of existing clients in 2024. However, the company in the Outlook section of its 212-page annual report highlighted that the move has enabled it to be “more focused on future growth.”

Restructuring Businesses

The online trading platform has reduced the number of countries from which it onboarded clients. Further, it has removed “certain complex products and services” to make its business simpler and more scalable.

“These actions are ongoing, and we aim to complete them fully during 2025,” Saxo noted.

As Finance Magnates reported earlier, Saxo closed its offices in Shanghai and Hong Kong as part of its restructuring in the Asia-Pacific region. It also sold the majority stake in its operations in Australia. Saxo also recognised a restructuring costs of DKK 69 million, impacting staff costs and administrative expenses (DKK 75 million) and tax (DKK 6 million).

The online trading platform stressed that it anticipates an increase in its cost base and additional marketing investments to support client growth.

The Danish company now expects its net profit in 2025 to be between DKK 950 million and DKK 1,100 million.

A Record-Breaking Year for Saxo

The outlook came after Saxo ended a record-breaking 2024 with net profit soaring 287 per cent to €135 million from €35 million in the previous year. The company's adjusted net profit reached €144 million, marking the most successful year in its history.

The performance follows Saxo Bank's introduction of a new global pricing strategy in early 2024, which brought more competitive rates for clients. This approach seems to have delivered strong results.

Furthermore, Saxo’s client base reached nearly 1.3 million at the end of 2024, up from 1.16 million a year ago. Client assets under management also hit a record €114 billion, a 14 per cent rise from €100 billion the previous year.