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FinTech Group AG: FinTech Group AG: Hauck & Aufhäuser raises target share price for FinTech Group to EUR 21.00

DGAP-News: FinTech Group AG / Key word(s): Miscellaneous
FinTech Group AG: FinTech Group AG: Hauck & Aufhäuser raises target
share price for FinTech Group to EUR 21.00

29.07.2015 / 07:27

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FinTech Group AG: Hauck & Aufhäuser raises target share price for FinTech
Group to EUR 21.00

Frankfurt - Research analysts at Hauck & Aufhäuser, one of Germany's oldest
private banks, have reiterated their buy recommendation for shares of
FinTech Group. The target price was raised from EUR 17.00 to EUR 21.00,
reflecting the analysts' view that shares in FinTech Group currently offer
a price appreciation potential of roughly 50%.

Christian Glowa, an analyst at Hauck & Aufhäuser, sees the greatest and as
yet untapped opportunity in the deposits held by biw Bank (approx. EUR 1.3
billion). These deposits are not currently being actively utilised for
lending in any of the group's B2B or B2C business segments, and until now
have not been incorporated into the group's financial planning. This could,
in the view of the analysts, soon change, with management of these deposits
potentially generating incremental annual yield of 1-2%. The bank's
research arm sees further growth opportunities through increases in the
number of clients using its Flatex online brokerage business as well as in
the roll-out of new products, such as credit cards and mobile banking.

For 2016, the analysts are forecasting EBITDA of EUR 36.1 million and
full-year net income of EUR 26.6 million (EUR 1.64 per share). EBITDA and
net income are then expected to further rise in 2017 to EUR 49.7 million
and EUR 34.2 million respectively.

About FinTech Group:
FinTech Group AG is one of Europe's leading financial services technology
companies with two pillars: online retail banking and brokerage business
under own brands (B2C); and white label banking business for third parties
(B2B).

In the B2C segment, the business's core brand is FLATEX with approximately
150,000 private clients and assets under administration of approximately
EUR 4.8bn. The B2B business comprises XCOM Group (www.xcom.de), one of the
most successful providers of software and technology solutions for banks
and financial services companies in Europe, with more than 250 clients. The
XCOM subsidiary BIW Bank (www.biw-bank.de) is licensed by the German BaFin
to provide the full range of banking services and is affiliated to the
Deposit Insurance Fund (Einlagensicherungsfonds) of the Bundesverband
deutscher Banken e.V. (Federal Association of German Banks). For more than
20 years, XCOM Group has been one of the most important technology and
outsourcing partners of the German banking industry and today is also one
of the most successful partners of Germany's rising fintech industry.

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 FinTech Group AG
may substantially differ from these forward-looking statements. FinTech
Group AG assumes no obligation to update these forward-looking statements
or to correct them in case of developments which differ from those
anticipated.

Press contact:
FinTech Group AG
Christofer Radic
Head of Corporate Communications
[phone]
[e-mail]
www.fintechgroup.com



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Language: English
Company: FinTech Group AG
E.-C.-Baumann-Str. 8a
95326 Kulmbach
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.fintechgroup.com
ISIN: DE0005249601
WKN: 524960
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market (Entry Standard) in Frankfurt


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