FLATEX-AG
6.4.2020 09:07:14 CEST | Business Wire | Press release
The outstanding development since the beginning of the year at flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) and DEGIRO continues on a sustained basis. flatex and DEGIRO gained more than 170,000 new customers on a pro forma basis in Q1 2020. 35,000 new customers (+218% compared to Q1/2019) opted for flatex and more than 135,000 customers opted for DEGIRO (+385% compared to Q1/2019). In the first quarter, flatex Bank processed 6.5 million securities transactions (+123% compared to Q1/2019), DEGIRO processed 10.8 million securities transactions (+134% compared to Q1/2019). The total number of transactions on a pro forma basis increased by almost 130% compared to the same quarter last year (pro forma Q1/2019: 7.5 million transactions) to 17.3 million.
"The first quarter was a very exceptional one, each month was a record month. The current volatility in the markets is extremely good for our business, despite the reason for the volatility being anything but nice. However, like many online platforms, we are benefiting massively from the current environment, achieving very high economies of scale," says Frank Niehage, CEO of flatex AG. "Our flatex and DEGIRO colleagues are doing an excellent job. We are currently operating at an average of three times the normal load in all processes. Our systems run reliably and have been at essentially 100% uptime. We are very grateful and proud that despite the challenging times, we make the impossible possible for our loyal customers."
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.
"The significant commercial success translates into strong financials. The Q1 2020 pre-tax profits of flatex Bank AG exceeded significantly those of the entire year 2019. It will be an absolute record year, the first quarter results confirm our expectation that under these conditions we will reach our targets for 2020 of 1 million customers and 35 million transactions far before year end," says Muhamad Chahrour, CFO of flatex AG. "Due to our high free cash flow generation, we will remain a net debt-free company with strong capital reserves, despite the purchase price of EUR 250 million for DEGIRO and the given the conditions. From this position of strategic and financial strength, we will use this momentum together with our teams to build the first, leading and largest pan-European online broker."
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.
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 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.
Language: |
English |
|
Company: |
flatex AG
|
|
Phone: |
+49 (0) 69 450001 0 |
|
E-mail: |
||
Internet: |
||
ISIN: |
DE000FTG1111 |
|
WKN: |
FTG111 |
|
Indices: |
Scale 30 |
|
Listed:
|
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
View source version on businesswire.com: https://www.businesswire.com/news/home/20200406005256/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting tilføjer samarbejdspartneren Milestone Technologies19.3.2026 19:02:00 CET | Pressemeddelelse
Andersen Consulting fortsætter med at styrke sin platform for digital transformation med tilføjelsen af samarbejdspartneren Milestone Technologies, der er en veletableret global leverandør af it-services og digitale løsninger med base i USA. Milestone Technologies blev grundlagt i 1997 og leverer omfattende teknologi- og outsourcingløsninger, der spænder over digitale arbejdspladstjenester, cloud- og infrastrukturstyring, data, AI og automatisering, apps og digital engineering, business process outsourcing samt implementering af platforme som ServiceNow og Salesforce. Med hovedkontor i Fremont, Californien, opererer Milestone i 35 lande på globalt plan og samarbejder med nogle af verdens største virksomheder. Virksomhedens integrerede leveringsmodel gør det muligt for kunder at transformere deres it-drift, øge serviceeffektiviteten og skalere teknologiske økosystemer gnidningsfrit over hele verden. "Milestone Technologies er en medarbejderfokuseret organisation, der leverer målbare for
Klarna Card reaches 5 million active customers19.3.2026 15:31:00 CET | Press release
Klarna, the global digital bank and payments provider, today announced that the Klarna Card has reached 5 million active customers globally, underscoring rapid adoption as consumers shift towards new forms of payment which provide more control over day-to-day money management. The card draws from the customer's own funds for everyday spending, with the option to spread the cost of a specific purchase, like a large appliance or a flight, when it makes sense to do so. The result is a card that offers genuine spending control without the long-term debt obligations that come with traditional credit cards. The card’s growth is reinforced by Klarna’s membership program. The program offers premium perks such as airport lounge access, travel insurance, and lifestyle subscriptions — without requiring users to take on debt, meet spending thresholds, or revolve balances. By separating everyday spending from rewards, Klarna is challenging the strings-attached model legacy banks have long relied on
Stonebranch Releases 2026 Global State of IT Automation Report, Revealing Orchestration as the Missing Link for AI Adoption and Trust19.3.2026 14:30:00 CET | Press release
New research shows hybrid IT orchestration, automation-as-a-service, and WLA investments are accelerating as AI workflow deployment scales across the enterprise. Stonebranch, a leading provider of service orchestration and automation solutions, today released its annual 2026 Global State of IT Automation Report, the company’s most comprehensive research study to date. Based on responses from 402 IT automation professionals spanning C-suite executives to individual contributors across North America, EMEA, Latin America, and APAC, the report provides a detailed, data-driven portrait of how enterprises are investing in, deploying, and deriving value from IT automation in 2026. “This year’s findings highlight an important shift in how organizations approach automation,” said Giuseppe Damiani, CEO of Stonebranch. “Organizations are now building automation as strategic infrastructure — a governed, scalable foundation that spans hybrid environments, operationalizes AI, and delivers automation
Perma-Pipe Accelerates Growth with New U.S. Northeast Facility Investment to serve Artificial Intelligence Data Center customers, Provides Middle East Operations’ Update and Concludes the Board’s Review of Strategic Alternatives19.3.2026 14:00:00 CET | Press release
Perma-Pipe International Holdings, Inc. (the “Company”) today announced a strategic expansion initiative focused on accelerating growth through entry into the high-demand U.S. Northeast region. The Company is positioning itself to capitalize on the rapidly expanding Artificial Intelligence (“AI”)-driven data center market in both the United States and international markets while continuing to reinforce its leadership in critical infrastructure solutions. As part of this growth strategy, Perma-Pipe will prioritize investments aimed at expanding its presence in the rapidly evolving AI data center sector. The initiative reflects the Company’s long-term commitment to supporting next-generation technology infrastructure and strengthening its position in the global energy, industrial, and infrastructure markets. Expansion in the U.S. Northeast President & Chief Executive Officer, Saleh Sagr said, “We are excited to announce the expansion of our operations with a new facility in the Northeast
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 13:00:00 CET | Press release
Research reveals 100% of leading generative AI models fail to generate secure code for critical development scenarios Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom