flatex AG: Record Half-Year and Three-Digit Growth Rates
July 02 2020 - 1:30AM
Business Wire
- On a pro forma basis, 37.6 million transactions were executed
in first half-year 2020 (+152% compared to H1 2019) - flatex with
13.1 million trades (+127% compared to H1 2019) and DEGIRO with
24.5 million transactions (+168% compared to H1 2019)
- On a pro forma basis, almost 288,000 new customers were
onboarded in first half-year 2020 (+238% compared to H1 2019) -
flatex with c. 70,000 new customers (+224% compared to H1 2019) and
DEGIRO with c. 218,000 new customers (+265% compared to H1
2019)
- Preliminary H1 pre-tax result of flatex Bank more than twice as
high as pre-tax result for full year 2019
- New pro forma target in 2020: 1.2 million customers and 50
million trades
flatex AG (WKN: FTG111, ISIN: DE000FTG111111, Ticker: FTK.GR)
presented record figures for the first half of the year. With
pro-forma 37.6 million transactions, flatex and DEGIRO had
processed significantly more transactions than in the entire year
2019. At the same time, flatex and DEGIRO gained approximately
290,000 new customers in only 6 months, which corresponds almost to
a quadrupling of the number of new customers compared to the same
period of the previous year.
"We closed the first half of the year with an absolute record,
both operationally and financially. We are very proud of this
development. We knew that volatility has a positive impact on our
transaction figures. But much more important is the absolute growth
in new clients, which will make a sustainable contribution to the
company's future success. Our original guidance was pro-forma 35
million transactions and one million customers for the entire year
2020. As promised, we achieved this goal much earlier," said Frank
Niehage, CEO of flatex. "We have to take this momentum into the
future in order to welcome the two million customers as soon as
possible. With the acquisition of DEGIRO and the sponsoring
partnership with Borussia M�nchengladbach we have strategically
laid essential foundations to play in the European Champions League
in the next years."
"After six months, we have with DEGIRO pro forma more than one
million customers and have settled over 37 million transactions.
Both the business and financial figures illustrate the economies of
scale of our business model, which already took effect in the first
quarter. flatex Bank generated in the first half of the year with
13.1 million settled transactions a preliminary pre-tax result that
was more than twice as high as the pre-tax result for full year
2019 with 12.3 million transactions," comments Muhamad Chahrour,
CFO of flatex AG, the operational leverage. "For the entire year
2020 we expect pro-forma up to 50 million transactions and more
than 1.2 million customers by the end of the year. Our clear
medium-term goal is to have 2 million customers and at least 60
million transactions per annum in Europe."
In December 2019, flatex already acquired 9.4% of DEGIRO for EUR
23.6 million in cash. Upon the closing of the acquisition, the
remaining 90.6% of the shares will be acquired and financed by
carrying out a capital increase against contribution in kind. In
this context, up to 7.5 million new flatex shares will be issued to
the current DEGIRO shareholders precluding the subscription rights
of existing shareholders. In addition, flatex will pay on a
debt-and-cash-free basis EUR 36.4 million in cash.
About flatex AG
flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR)
operates one of the leading and fastest growing online brokerage
businesses in Europe, executing more than 12 million securities
transactions paperless per annum. More than 350,000 B2C customers
are offered top services and a wide range of an independent product
offering at a competitive pricing, based on a modern,
self-developed state-of-the-art technology.
In December 2019, flatex announced the acquisition of DeGiro,
which will make it one of the largest online brokers in Europe.
After completion of the transaction, together they expect to serve
more than one million customers with up to 50 million securities
transactions in 2020. In a time of bank consolidation, low interest
rates and digitalization, the flatex Group is thus ideally
positioned for further growth and on its way to becoming Europe's
leading provider of online retail brokerage.
Disclaimer
This release may contain forward-looking statements and
information, which may be identified by formulations using terms
such as "expects", "aims", "anticipates", "intends", "plans",
"believes", "seeks", "estimates" or "will". Such forward-looking
statements are based on our current expectations and certain
assumptions, which may be subject to variety of risks and
uncertainties. The results actually achieved by flatex AG may
substantially differ from these forward-looking statements. flatex
assumes no obligation to update these forward-looking statements or
to correct them in case of developments, which differ from those
anticipated.
Language:
English
Company:
flatex AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone:
+49 (0) 69 450001 0
E-mail:
ir@flatex.com
Internet:
www.flatex.com
ISIN:
DE000FTG1111
WKN:
FTG111
Indices:
Scale 30
Listed:
Regulated Unofficial Market in Berlin,
Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart,
Tradegate Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20200701006027/en/
Muhamad Said Chahrour Chief Financial Officer (CFO) Tel. +49 (0)
69 450001 0 ir@flatex.com flatex AG
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