Informazione
Regolamentata n.
20242-23-2026Data/Ora Inizio Diffusione 23 Settembre 2026 15:40:06Euronext Growth Milan
Societa' :DIRECTA SIM Utenza - referente :DIRECTASIMN02 - andrea bu#i
Tipologia :1.2
Data/Ora Ricezione :23 Settembre 2026 15:40:06 Data/Ora Inizio Diffusione :23 Settembre 2026 15:40:06 Oggetto :Directa Sets New Records: Clients +20.9%, Assets Above €11 Billion, OperaCng Income
+14.9%
Testo del comunicato
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Directa Sets New Records: Clients +20.9%, Assets Above €11 Billion, OperaCng Income +14.9% Number of active accounts: 166,261, +20.9% compared to 31 December 2025 (137,568) Total client assets: €11.5 billion, +18.6% compared to 31 December 2025 (€9.7 billion) Operating income: €22.4 million, +14.9% compared to the first half of 2025 (€19.5 million) Net commissions: €12.9 million, +29% compared to the first half of 2025 (€10 million) Pre-tax profit: €10.4 million, +2% compared to the first half of 2025 (€10.2 million) Net profit: €7.3 million, in line with the first half of 2025 (€7.2 million) Shareholders’ equity: €48.5 million, -7.7% compared to 31 December 2025 (€52.6 million) Market share according to the AMF Italia report: 5.23%, +13.94% compared to 31 December 2025 (4.59%) Turin, 23 September 2026 The Board of Directors of Directa SIM S.p.A., a company listed on Euronext Growth Milan, today approved the Consolidated Half-Year Financial Report as of 30 June 2026, prepared in accordance with International Financial Reporting Standards and subject to a limited review by KPMG S.p.A. The number of active accounts as of 30 June 2026 reached 166,261, an increase of 20.9% compared to 31 December 2025, confirming the Company's continuous growth trend. The total value of client assets exceeded €11.5 billion, up 18.6% compared to 31 December 2025. Operating income, up 14.9%, amounted to €22.4 million, representing the highest half-year figure in Directa's history. This result was significantly supported by net commissions of €12.9 million, up 29% compared to the first half of 2025. Pre-tax profit for the period amounted to €10.4 million, up 2% from €10.2 million in the first half of 2025, while net profit reached €7.3 million, in line with the first half of 2025 (€7.2 million).
Shareholders’ equity as of 30 June 2026 stood at €48.5 million, down 7.7% compared with €52.6 million as of 31 December 2025. The decrease reflects the dividend paid in May, amounting to €11.25 million. According to the periodic report published by AMF Italia (formerly Assosim), in the first half of 2026 Directa’s market share in Italian equities (Euronext Milan Domestic) for third-party trading activity increased to 5.23%, placing the Company fifth among intermediaries belonging to AMF Italia. Massimo Segre, Chairman of Directa S.p.A., stated: “In the first six months of the year, we opened 28,693 new accounts, almost as many as in the whole of 2025, and today 166,261 investors choose Directa. Operating income reached €22.4 million, the highest figure ever recorded in a half-year, and our share of the Italian equity market brought us to fifth place among intermediaries belonging to AMF Italia. These results reward the choice that has guided Directa since its foundation: opening the markets to every saver who wants to invest directly. In July, this choice also reached the primary market with the listing of Giunti Psychometrics, the first on Euronext Growth Milan open to subscriptions by retail investors directly through our platform. Every new account opened adds an independent saver investing in listed companies.” Andrea Busi, Chief Executive Officer of the Company, commented: We are particularly pleased with the results achieved during the first half of the year. Directa recorded the highest growth in its customer base since its foundation and a significant increase in assets under administration, confirming the Company’s ability to attract new investors and strengthen its position as a benchmark in the online investment market. During the period, we continued our development path through substantial investments in human resources, technology, and marketing, with the goal of supporting the Company’s future growth. These investments, together with lower interest rates, impacted profitability during the semester; nevertheless, profitability remained substantially in line with the previous year and reached a new all-time high. The strong growth in customers and assets under administration is a key indicator of the effectiveness of our strategy. The initiatives launched during the semester further strengthen the foundations for medium-to-long-term value creation and for achieving new records in the future, enabling Directa to continue serving as Italy’s benchmark for online investing, a role the Company has held for more than thirty years.
Stefano D’Orazio, Commercial Director, commented: The growth initiated by Directa over the last two years continues to strengthen, with a steady increase in new clients, transactions and assets. Beyond the figures, the most significant aspect of these results lies in the change we are helping to bring about: guiding an increasing number of Italians from being savers to becoming investors. Our Academy, with more than 22,000 subscribers, is tangible evidence of this vision: investing in knowledge means investing in the future of our clients. The most recent results further confirm the strength of this path. In August alone, following the close of the semester, we recorded on average one new account every seven minutes. We look to the future with the same ambition that has guided our growth: continuing to invest in innovation, platform development and the quality of the customer experience, with the objective of making Directa the best investment experience in Italy. Key Financial and Balance Sheet Figures for the Semester The first half of the year closed with net profit of €7.3 million, up €46 thousand compared with the €7.2 million recorded in the same period of the previous year. The result consolidates the growth trend achieved in recent years and confirms the Company’s posiBve performance, despite a context of declining interest rates and new investments to strengthen its structure. Growth across all key operaBng indicators remained strong during the first six months of 2026. As of 30 June, active accounts reached 166,261, an increase of 28,693 compared with the beginning of the year and relative growth of 20.9%. At the same time, the total value of clients’ financial instruments and cash held reached nearly €11.5 billion, up 18.6% compared with €9.7 billion as of 31 December 2025. Trading activity showed a particularly positive trend. During the semester, clients executed a total of 3.8 million orders, more than 2.4 million of which were on Italian cash markets. Activity on these markets increased by 33.4% compared with the first half of 2025, confirming clients’ strong interest in domestic markets. ETFs conBnued to aSract growing interest. During the semester, the value traded in ETFs increased by 76.6% compared with the corresponding period of the previous year, while the number of executed orders increased by 63.3%, confirming the progressive consolidaBon of these instruments within clients’ investment choices, thanks to their efficiency, transparency and porUolio diversificaBon characterisBcs. ParBcularly noteworthy was the growth in trading acBvity on U.S. equity markets, where the number of executed orders increased by approximately 36% compared with the first half of 2025. This growth was supported both by investors’ conBnued interest in leading U.S. technology stocks, parBcularly those linked to arBficial intelligence and digital innovaBon, and by opportuniBes generated by highly volaBle market condiBons and frequent
events capable of moving the market. A notable example was the lisBng of SpaceX shares in June, which doubled trading acBvity during that month compared with the same month of the previous year. From an economic standpoint, operating income reached €22.4 million, representing an increase of approximately €2.9 million compared with the corresponding period of 2025. Net commissions increased by €2.9 million (+28.9%), mainly driven by higher activity in both Italian and international cash markets. Net interest income, including remuneration on liquidity and financing activities, decreased slightly by approximately €316 thousand (-3.2%). This was mainly attributable to the maturity of several time deposits placed in previous years under more favourable conditions than those currently available for reinvestment. Personnel expenses increased by approximately €265 thousand (+6.7%). This rise reflects both the full impact of investments made during 2025 to strengthen various business areas and the addition of new employees hired during the first months of 2026. Other administraBve expenses increased more significantly (+64.5%), mainly due to higher infrastructure costs and the progressive development of the Company’s operaBons. The expansion of the client base and the increase in their acBvity on financial markets resulted in higher costs directly related to the services provided, including custody of financial instruments, banking seSlement services and taxes connected with the opening and management of client relaBonships. These dynamics were accompanied by higher investments in IT and technology, aimed both at strengthening the operaBng infrastructure and at developing business conBnuity and disaster recovery arrangements, which are considered strategic to support the Company’s current acBvity volumes efficiently and securely. During the semester, the Company also conBnued its commercial development path, increasing investments in markeBng acBviBes, promoBonal iniBaBves and parBcipaBon in industry events. These iniBaBves contributed to strengthening brand visibility and the Company’s compeBBve posiBoning, supporBng the acquisiBon of new clients and the growth of assets under administraBon, while also increasing costs under this item by approximately €1.3 million compared with the corresponding period of 2025. The overall increase in costs was partly offset by growth in other operaBng income, supported by the launch of new commercial and markeBng collaboraBons with financial-market operators and product companies, as well as by certain favourable effects arising from regulatory developments and raBonalisaBon measures undertaken in previous years. Main Activities Carried Out During the First Half of 2026 During the first half of 2026, Directa continued to focus on its core business activities, further strengthening its position in online brokerage and pursuing opportunities arising from the evolution of financial markets and the changing needs of retail clients. Consistent with the decision taken in February 2025 to discontinue the private banking project launched in 2022, the Company continued to focus its financial, technological and organisational resources on its traditional business activities, consolidating its role as a specialist operator in trading and online investments.
The principal strategic focus remains the development and evoluBon of proprietary plaUorms, which have always represented one of Directa’s main growth drivers. During the period, numerous improvements were completed to enhance the user experience. Among the main new features was the new Tax PorUolio (“ZaineSo Fiscale”), designed and developed to give clients easier access to reporBng on their trading acBvity. The PorUolio component was also redesigned, adding historical porUolio composiBon details and introducing Time Weighted and Money Weighted performance metrics. These enhancements make information easier and more intuitive to consult, provide a clearer and more modern representation of data and help increase customer satisfaction and engagement. At the same time, they reinforce the positioning of Directa’s platforms as advanced tools that are constantly updated and increasingly responsive to investors’ operational and informational needs. Analysis, design and evaluation activities relating to the development of a new mobile application also continued during the period, with the objective of expanding the Company’s digital offering and making investment services increasingly accessible to a broader and more diverse user base. During the period, client interest in international markets continued to strengthen, particularly with regard to the U.S. market and ETFs. This trend was supported by the consolidation of partnerships with leading ETF and Certificates issuers, as well as by the continuous expansion of the range of products available for savings plans (Capital Accumulation Plans). With regard to the markets available to clients, during the semester the Company completed the integraBon and full acBvaBon of euro-denominated ETFs listed on Euronext Amsterdam and Euronext Paris, giving clients access to the European plaUorm aimed at centralising the broadest ETF offering available on the markets. This iniBaBve enabled clients to access a broader range of ETFs traded on the main European markets and strengthened the Company’s compeBBve posiBoning through a transparent and efficient offering. Positive results were also achieved by Euronext’s Best of Book service, introduced at the end of 2025 and targeted at retail investors. This solution, based on interaction with European Retail Liquidity Providers, made it possible to offer execution conditions that are highly competitive compared with those available on traditional regulated markets, contributing to an improvement in the overall execution quality of more than 70% of orders routed to the market. Finally, Directa has officially operated as an Assigned Broker since August 2025. In this role, the first completed equity transacBon was the lisBng of GiunB Psychometrics on Euronext Growth Milan in July 2026, the first IPO to use the new Direct DistribuBon service introduced by Borsa Italiana. Participation in this transaction enabled Directa to contribute from the outset to the implementation of an innovative model for the placement of financial instruments on the primary market, improving accessibility and transparency for retail investors. The experience gained confirms the Company’s role in developing new ways of accessing capital markets and promoting innovative solutions in support of investors. Among the main projects launched during the period was “Infrastructure 2.0”, a strategic initiative aimed at evolving the Company’s Disaster Recovery and Business Continuity model through the integration of the Disaster Recovery site into the
ordinary service delivery architecture. The project will strengthen resilience and business continuity, improve the utilisation of technological resources and create a more flexible and scalable infrastructure to support the Company’s growth. During the semester, the Company also launched a project to implement a SIEM plaUorm and SOC services, aimed at strengthening cybersecurity controls through advanced security event monitoring and management tools. This iniBaBve will contribute to enhancing operaBonal resilience and compliance with industry regulaBons. Alongside all platform development and enhancement activities, the expansion of products and services, and the strengthening of technological infrastructure aimed at supporting customer growth, numerous marketing initiatives were carried out to increase brand awareness and reinforce Directa’s positioning within its target market. During the first half of the year, two particularly significant events took place. The first was Directa D, an initiative dedicated to the relationship between women and finance, hosted at Borsa Italiana’s headquarters in Palazzo Mezzanotte. The event represented an important opportunity to discuss investment and financial education topics thanks to the participation of numerous distinguished women from the worlds of entrepreneurship, economics and finance. It was an innovative initiative and, in many respects, unique within the Italian landscape, attracting significant public interest and media attention and generating highly positive feedback from both participants and industry professionals. In June, Directa Summit was held for the second time following the success of the inaugural 2025 edition. Supported by numerous partner issuers through sponsorship initiatives and dedicated exhibition spaces, the event attracted more than 2,000 participants and featured highly regarded speakers and high-quality content. Both events contributed significantly to increasing the Company’s visibility, enhancing brand awareness and strengthening Directa’s position within the financial sector among an increasingly broad audience. The development of Directa Academy also continued during the semester. Launched in November 2025, the initiative is dedicated to financial training and education through live and on-demand content and currently has approximately 22,000 subscribers. During the period, new courses and content were produced, further enriching the platform’s educational offering. The objective of the initiative is to provide investors with the essential tools to understand how financial markets operate and support them throughout their educational and personal development journey. From an organisational perspective, and in order to effectively manage the Company’s continued customer growth, development of the CRM project continued throughout the semester. The project is aimed at improving customer acquisition, management and retention activities. Developed with the support of Salesforce, the initiative will continue during the second half of 2026 and seeks to create an integrated ecosystem that connects digital onboarding processes, customer data collection and management, customer contact and support tools, and marketing activities. The objective is to establish an increasingly centralised and comprehensive view of customer information, improving operational efficiency and enabling personalised customer journeys that enhance the effectiveness of commercial and retention initiatives. Overall, the numerous activities carried out during the first half of 2026 strengthened the Company’s competitiveness, supported its commercial growth and consolidated its position as a leading independent operator in the Italian online trading and investment market.
Expected business outlook The performance recorded in the months following the end of the reporting period confirms the positive trend observed during the first half of the year. Client trading activity remains at satisfactory levels, with the number of executed orders substantially in line with previous months. At the same time, the client base continues to grow, with results exceeding those recorded in the corresponding period of the previous year. From a profitability standpoint, net commissions continue to show favourable momentum, remaining at high levels consistent with those reported in the recently completed semester. Comparison with the corresponding months of the previous year also shows further improvement, mainly driven by cash market activity, which continues to represent the primary engine of commission growth. The negaBve impact on the interest margin, and therefore on revenues, is expected to be significantly more pronounced in the second half of the year than it was during the first half. This is mainly due to the maturity of Bme deposits which were placed more than three years ago under parBcularly favourable yield condiBons. Upon maturity, the related liquidity was reinvested in demand deposits within a significantly lower interest-rate environment, in some cases at yields almost half those previously earned. As a consequence, while the profitability of invested liquidity remained broadly in line with previous periods during the first half of the year, the lower reinvestment yields are expected to place greater pressure on the income statement in the second half. Operating costs are expected to evolve in line with ordinary business dynamics, as no extraordinary events are currently expected to have a significant impact on the Company’s results. The international environment continues to be characterised by uncertainty linked to geopolitical developments, which could negatively affect financial markets and indirectly influence clients’ propensity to invest. As of the date of this report, however, no significant effects on client trading activity attributable to such factors have been identified. Organisational structure During the first half of 2026, the Company continued to strengthen its organisational structure through the recruitment of four new employees assigned to different operational areas. On 9 August 2026, the Company was saddened by the sudden passing of Dr. Fabio Braida, Head of Compliance. The Company remembers with gratitude the professional contribution he made over the years, marked by competence, dedication and a strong sense of responsibility, as well as the personal qualities that made him highly regarded by colleagues and co-workers. His professional example and the wealth of experience he built up represent a legacy that Directa intends to preserve and value over time. Significant events after the reporting period
For the companies included within the consolidation perimeter, no additional significant events occurred after the end of the reporting period other than those mentioned in the management report. Consolidated financial statements as of 30 June 2026 The summary consolidated statement of financial position and income statement are presented below, together with the changes in shareholders’ equity resulting from the profit generated during the period. The results have been reviewed by KPMG, which has not identified any issues to date and is expected to issue its review report in the coming days. CONSOLIDATED STATEMENT OF FINANCIAL POSITION (amounts in euro) Assets 30 Jun 2026 31 Dec 2025 Cash and cash equivalents 23,799,826 14,823,982 Financial assets measured at FVOCI 1,239 1,865,227 Financial assets measured at amortised cost 113,054,393 97,179,204 • Due from banks 13,688,412 15,275,131 • Due from financial companies 9,311,350 6,927,649 • Due from customers 90,054,631 74,976,424 Property, plant and equipment 1,847,574 1,824,259 Intangible assets 1,658,572 1,588,033 Tax assets 55,028 29,645 • Current tax assets - - • Deferred tax assets 55,028 29,645 Other assets 23,180,832 35,374,530 TOTAL ASSETS 163,597,464 152,684,880 LiabiliHes and shareholders’ equity 30 Jun 2026 31 Dec 2025 Financial liabiliBes measured at amorBsed cost 108,271,610 93,054,977 a) amounts due 108,271,610 93,054,977 Trading financial liabiliBes 4,015 5,787 Tax liabiliBes 171,604 33,558
a) current 171,604 32,074 b) deferred - 1,484 Other liabiliBes 4,412,083 4,436,849 Employee severance indemnity 1,736,298 1,853,029 Provisions for risks and charges 469,866 730,324 c) other provisions for risks and charges 469,866 730,324 Share capital 7,500,000 7,500,000 Share premium reserve 5,205,000 5,205,000 Reserves 28,623,123 27,261,648 ValuaBon reserves (75,943) (7,767) Profit / loss for the period 7,279,808 12,611,475 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 163,597,464 152,684,880 CONSOLIDATED INCOME STATEMENT (amounts in euro) Income Statement Items 30 Jun 2026 30 Jun 2025 Net trading income (176,141) (466,702) Gains/(losses) on disposal or repurchase of: 20,035 - b) Financial assets measured at FVOCI 20,035 - Fee and commission income 16,748,700 13,361,432 Fee and commission expense (3,831,639) (3,341,275) Interest income and similar revenues 11,474,902 11,178,522 Interest expense and similar charges (1,842,702) (1,229,846) Dividends and similar income 1,801 2,646 OPERATING INCOME 22,394,956 19,504,777 Net credit risk adjustments on: (4,725) (115) a) Financial assets measured at amor=sed cost (4,725) (115) NET FINANCIAL MANAGEMENT RESULT 22,390,231 19,504,662 Administrative expenses (11,998,487) (8,684,403) • Personnel expenses (4,220,733) (3,955,649) • Other administrative expenses (7,777,754) (4,728,754) Net provisions for risks and charges (163,211) (120,988) Depreciation of property, plant and equipment (144,566) (255,727) Amortisation of intangible assets (312,341) (328,007)
Income Statement Items 30 Jun 2026 30 Jun 2025 Other operating income/(expenses) 591,396 104,339 OPERATING COSTS (12,027,209) (9,284,786) Share of profit/(loss) of investments - 5,826 Gains/(losses) on disposal of investments 200 496 PROFIT BEFORE TAX 10,363,222 10,226,198 Income taxes (3,083,414) (2,991,906) PROFIT/(LOSS) FROM CONTINUING OPERATIONS AFTER TAX 7,279,808 7,234,292 PROFIT/(LOSS) FOR THE PERIOD 7,279,808 7,234,292 Profit/(loss) aSributable to non-controlling interests - - NET PROFIT ATTRIBUTABLE TO THE PARENT COMPANY 7,279,808 7,234,292 RECONCILIATION OF THE PARENT COMPANY'S NET PROFIT AND SHAREHOLDERS’ EQUITY TO THE CONSOLIDATED FIGURES (amounts in euro) Net profit a]ributable to the Parent Company Shareholders’ equity a]ributable to the Parent Company Parent Company financial statements as at 30/06/2026 7,006,237 47,871,358 Higher shareholders’ equity of the consolidated company (Directa Service S.r.l.) compared with the carrying amounts in the Parent Company financial statements 660,630 Profit of the consolidated company (Directa Service S.r.l.) adjusted in accordance with IAS/IFRS internaBonal accounBng standards 273,571 Consolidated financial statements as at 30/06/2026 7,279,808 48,531,988 Note: the shareholders’ equity column includes profit for the period. Results Presentation Webcast Today at 4:00 p.m. CEST, a webcast will be held to present and comment on the Company’s results for the six months ended 30 June 2026. Documentation The Consolidated Half-Year Financial Report as of 30 June 2026 is available to the public in the Investor Relations section of the website directa.it.
This press release is also available in the Investor Relations section of directa.it. About Directa SIM Directa SIM was founded in 1995 to enable private investors to trade directly on financial markets, at a Bme when the Italian Stock Exchange was moving its trading acBvity to electronic plaUorms and abandoning open-outcry trading. On 8 November 1995, the first stock market order was transmiSed from Directa SIM’s offices in Turin through a modem-based telephone data connecBon. In 1996, the phenomenon expanded rapidly, marking the birth of online trading as a service accessible to everyone, with Directa SIM acBng as a pioneer in the field. Directa SIM changed the history of invesBng in Italy and remains focused on its mission of offering everyone the freedom to invest independently through accessible technology. Head of Investor & Media Relations Silvia Bertero Mobile: +39 338 8536541 Email: silvia.bertero@directa.it Euronext Growth Advisor EnVent Italia SIM S.p.A. Via degli Omenoni 2 20121 Milan, Italy Email: ega@envent.it Tel. +39 02 22175979 Media Contacts Isabella Lamera Mobile: +39 338 7026584 Pierluigi Cavarai Mobile: +39 392 7799933 Email: ufficiostampa@directa.it
Fine Comunicato n.20242-23-2026 Numero di Pagine: 13