DGAP-News
FinTech Group AG: FinTech Group AG achieves turnaround in the first quarter 2015 - Seite 2
innovative technologies in the financial sector. At the end of March we
completed the acquisition of a majority stake in the XCOM Group as planned.
As a result, one of the most successful enablers for technology and banking
partners in the rising German fintech sector will be part of the Group in
the future. Over the coming months we intend to maintain our strong
operational and strategic momentum."
Following the successful start into the year, the FinTech Group anticipates
EBITDA for 2015 - including the XCOM Group, consolidated on a pro rata
basis - of up to EUR 20 million.
FinTech Group plans to make a gradual transition to quarterly reporting. To
further enhance transparency for investors, selected key ratios will be
published on a quarterly basis going forward. The XCOM Group, in which the
FinTech Group has held a majority stake since the end of March, will be
consolidated as of April 2015.
Relocation of company headquarters to Frankfurt
At the Extraordinary General Meeting of the FinTech Group held on 30 April,
the resolution to relocate the company headquarters from Kulmbach to
Frankfurt was approved by a large majority. This step underscores the
ambitions of the company. Herewith, the FinTech Group is moving much closer
to its customers and will be even better positioned to recruit highly
qualified talent. Along with the resolution on the relocation of the
Group's headquarters, the special meeting of shareholders also voted to
grant the Executive Board and Supervisory Board additional scope for a
possible increase in the registered capital. With this move, the FinTech
Group has positioned itself financially to respond decisively to investment
and growth opportunities, even at short notice.
About the FinTech Group AG
FinTech Group AG is an innovator and established market leader in the
German online brokerage market. Its goal is to become the leading financial
services technology companies in Europe through a comprehensive
transformation and growth process. The focus is on business models with
sustainable, above-average growth and rapid market penetration.
FinTech Group has extensive experience in providing technology solutions
for financial services providers, with currently more than 200,000 private
clients served across the corporate group and assets under administration
totalling approximately EUR 4.8 billion. Core brands in the B2C segment
include flatex GmbH, a leader in the online brokerage market in Germany and
further enhance transparency for investors, selected key ratios will be
published on a quarterly basis going forward. The XCOM Group, in which the
FinTech Group has held a majority stake since the end of March, will be
consolidated as of April 2015.
Relocation of company headquarters to Frankfurt
At the Extraordinary General Meeting of the FinTech Group held on 30 April,
the resolution to relocate the company headquarters from Kulmbach to
Frankfurt was approved by a large majority. This step underscores the
ambitions of the company. Herewith, the FinTech Group is moving much closer
to its customers and will be even better positioned to recruit highly
qualified talent. Along with the resolution on the relocation of the
Group's headquarters, the special meeting of shareholders also voted to
grant the Executive Board and Supervisory Board additional scope for a
possible increase in the registered capital. With this move, the FinTech
Group has positioned itself financially to respond decisively to investment
and growth opportunities, even at short notice.
About the FinTech Group AG
FinTech Group AG is an innovator and established market leader in the
German online brokerage market. Its goal is to become the leading financial
services technology companies in Europe through a comprehensive
transformation and growth process. The focus is on business models with
sustainable, above-average growth and rapid market penetration.
FinTech Group has extensive experience in providing technology solutions
for financial services providers, with currently more than 200,000 private
clients served across the corporate group and assets under administration
totalling approximately EUR 4.8 billion. Core brands in the B2C segment
include flatex GmbH, a leader in the online brokerage market in Germany and