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FinTech Group AG underpins turnaround and growth strategy with strong half-year operating profit

FinTech Group AG / Key word(s): Half Year Results

27.08.2015 07:48

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FinTech Group AG underpins turnaround and growth strategy with strong
half-year operating profit

> Modified EBITDA under German GAAP of EUR 11.7 million in the first half
year 2015
> XCOM AG fully consolidated for the first time following integration in
second quarter
> Number of executed transactions sets record high
> biw Bank will develop lending business following bolstering of capital

Frankfurt - FinTech Group AG (WKN 524 960, ISIN: DE0005249601, FLA.GR)
closed the first half year 2015 with a strong operating result. Earnings
before tax, interest and depreciations (EBITDA including interest income of
biw Bank and Aktionärsbank GmbH, hence "modified" EBITDA) as of 30 June
2015 amounted to EUR 11.7 million (prior year period: loss of EUR 4.16
million), representing an operative turnaround of approx. EUR 16 million.
Positive earnings and developments in existing as well as in new business
divisions were decisive factors in this regard. The strong half year
results substantiate the turnaround and the earnings potential of FinTech
Group AG and follow on from the group achieving an EBITDA of EUR 2.62
million in the first quarter (without a consolidation of the XCOM Group at
that point).

The figures show that the growth path of FinTech Group AG towards becoming
the leading European infrastructure operator of innovative technologies in
the financial services sector is also profitable from a short term
perspective. The integration of XCOM AG, one of the most successful
software and technology suppliers for financial services companies, and of
its subsidiary biw Bank, had an immediate positive effect. Starting with a
technical cooperation with XCOM AG beginning with the announcement of
FinTech Group's takeover intention in November 2014, FinTech Group AG was
able to successfully close the XCOM takeover in March 2015. Synergy
potentials are currently being leveraged step by step.

XCOM and biw Bank were fully consolidated for the first time in the second
quarter 2015. In addition, the online broker flatex GmbH and the subsidiary
Aktionärsbank GmbH were able to profit from a high number of trades due to
a high market volatility. Flatex and Aktionärsbank benefitted from an