DGAP-News flatexDEGIRO with brilliant start into a new era of online brokerage in Europe
DGAP-News: flatexDEGIRO AG / Key word(s): Quarterly / Interim Statement
flatexDEGIRO with brilliant start into a new era of online brokerage in Europe
- Acquisition of DEGIRO closed, creating Europe's largest retail online broker
- Number of customers grown to 1.16 m (+45.5% compared to pro forma Sept. 2019)
- Number of trades until end of September more than doubled to 53.97 m, pro forma
- Revenues in 9M 2020 up 66.9% to EUR 164.8 m, compared to 9M 2019
- Sponsoring of Borussia Moenchengladbach to further raise brand awareness in light of international growth and the upcoming introduction of the 'flatex next' app in Germany
- Striving for market leadership in France through highest customer and transaction growth
"In the past three months, we have made an enormous leap forward in our strategy of creating Europe's leading online broker.
With the acquisition of DEGIRO, we are now present with strong brands in all relevant European markets. We are ahead of plan with our measures to create at least EUR 30 million of annual EBITDA synergies from the acquisition.
Our sponsorship of Borussia Moenchengladbach will further accelerate brand awareness, fostering our already strong momentum ahead of the launch of our new app 'flatex next'.
The outstanding growth numbers shown in the last months give us additional confidence in reaching our ambition of executing more than 70 million trades for 1.2 million customers this year
and at least 100 million trades for 3 million customers in 2025 at the latest", says Frank Niehage, CEO of flatexDEGIRO AG.
Please note that with effect to 9 November 2020 the company name has changed from
flatex AG to flatexDEGIRO AG. In this group interim management statement, only the new company name, flatexDEGIRO, is used. The new name will be a strong signal and motivation to all our DEGIRO colleagues and DEGIRO clients. It will also allow us to build an even higher brand awareness for DEGIRO and flatex in the most efficient way.
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