flatex AG

  • WKN: FTG111
  • ISIN: DE000FTG1111
  • Land: Deutschland

Nachricht vom 04.03.2020 | 07:00

flatex AG: Markets' volatility provides flatex and DEGIRO with record figures in February

DGAP-News: flatex AG / Key word(s): Monthly Figures
04.03.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Markets' volatility provides flatex and DEGIRO with record figures in February

  • Volatility drives number of securities transactions in February to pro forma 4.7 million
  • Pro forma more than 65,000 new clients and 8.7 million transactions processed in 2020
Frankfurt am Main/Amsterdam - The volatility in recent weeks has made a major contribution to the excellent start of the year for flatex (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) and DEGIRO. In February, more than 10,000 interested customers went through the flatex application process (+128% compared to the same month last year), while DEGIRO gained more than 27,000 new customers (+210% compared to the same month last year). In total, both brokers handled in February 4.7 million transactions pro forma (+92% compared to the same month last year), flatex 1.8 million and DEGIRO 2.9 million transactions.

"Volatility has increased noticeably in recent weeks. The uncertainty on the markets, especially around the corona virus, is evident. Once again, volatility and market uncertainties are resulting in increased trading activity by our customers. In addition, we are pleased that over 15,000 new customers have opted for the flatex offering since the beginning of the year. This is an impressive proof of the trust we enjoy as an established and long-standing online broker," says Frank Niehage, CEO of flatex AG. "It was important for us to see that our flatex systems worked extraordinarily well, despite a load that was at some days four times as high as on regular days. On the strongest trading day in February, flatex settled over 150,000 transactions and DEGIRO 270,000 transactions."

In December, flatex already acquired 9.4% of DEGIRO, the remaining 90.6% of the shares will be acquired after approval by the Dutch authorities. The relevant DNO approval application was submitted in February, so that formal regulatory approval and subsequent closing can be expected in the second quarter of 2020.

"We have repeatedly emphasized that we have developed a substantially solid and profitable business model despite a negative interest rate environment and in times of record low volatility. Now the first of the two hidden reserves, volatility, is coming into play and the result is two record months in a row," says Muhamad Chahrour, CFO of flatex AG. "If we also take into account the figures from DEGIRO, it becomes clear how valuable the acquisition has been and which European 'securities powerhouse' we will develop together. I am keen to say that under these conditions we will most likely reach our target of 1 million customers and 35 million transactions in 2020 well before the end of this year".

Muhamad Said Chahrour
Chief Financial Officer (CFO)
Tel. +49 (0) 69 450001 0
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

About flatex AG
flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, executing approximately 12.5 million securities transactions paperless per annum. More than 300,000 B2C customers are offered top services and a wide range of an independent product offering at a competitive pricing, based on a modern, self-developed state-of-the-art technology.

In December 2019, flatex announced the acquisition of DeGiro, which will make it one of the largest online brokers in Europe. After completion of the transaction, together they expect to serve more than one million customers with over 35 million securities transactions in 2020. In a time of bank consolidation, low interest rates and digitalization, the flatex Group is thus ideally positioned for further growth and on its way to becoming Europe's leading provider of online retail brokerage.

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

04.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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