DGAP-News

FinTech Group AG: FinTech Group AG achieves turnaround in the first quarter 2015

DGAP-News: FinTech Group AG / Key word(s): Quarter Results/Final
Results
FinTech Group AG: FinTech Group AG achieves turnaround in the first
quarter 2015

04.05.2015 / 07:35

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- Company posts Q1 EBITDA of EUR 2.62 million

- Budgeted start-up costs for Aktionärsbank and transformation expenses
result in negative earnings for 2014

FinTech Group AG (WKN 524 960, ISIN: DE0005249601, ticker symbol: FLA.GR)
completed its turnaround in the first quarter of 2015 and earned an
operating profit. The decisive factor behind this success was the strong
performance of the two established subsidiaries flatex GmbH and CeFDex
GmbH, which benefited from the volatility in the market at the beginning of
the year. In addition, the strategic reorientation and the efficiency
measures initiated last year have begun to bear fruit.

Based on preliminary figures, the FinTech Group posted Q1 earnings (EBITDA)
of EUR 2.62 million, as compared with a loss of EUR 0.81 million in the
same period a year earlier. Assets under administration at the end of March
2015 showed a year-on-year increase of 28 percent to EUR 4.78 billion (end
of Q1 2014: EUR 3.74 billion). Both flatex and CeFDex benefited from the
volatility in the market and recorded a 31 percent increase in the total
number of securities transactions to 2.14 million (Q1 2014: 1.64 million).

As a result of the budgeted start-up costs for Aktionärsbank and
transformation expenses, the group closed out the 2014 fiscal year with a
loss as expected. Preliminary figures show a full-year operating loss
(EBITDA) of EUR 7.99 million, as compared to a profit of EUR 0.49 million
in the previous year. After taxes, the full-year loss for 2014 amounted to
EUR 7.59 million (previous year: loss of EUR 0.37 million). Due to changes
in the group of consolidated companies, the figures for the previous year
are not entirely comparable. The FinTech Group expects to publish the 2014
financial report by June.

Substantial operating profit expected for 2015

"We've made a very good start in the new year," comments Frank Niehage, the
CEO of FinTech Group AG. "By getting back into the black in the first
quarter, we've already delivered on one of our key objectives for 2015. At
the same time, we are making good progress with the strategic
transformation of the FinTech Group into Europe's leading provider of