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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
This article first appeared on GuruFocus.
Settled Trades: Increased by 17% year over year to EUR22.7 million. Net Cash Inflows: Reached EUR3.1 billion, up 2% year-on-year. Revenue Growth: Increased by 19% year over year to EUR174 million. Commission Income: Increased by 18% to EUR116 million. Interest Income: Rose by 14% to EUR49 million. Commissions per Transaction: EUR5.09, up from EUR5.02 in Q1 2025. Operating Expenses: Increased by 13% year-over-year to EUR63 million. Personnel Expenses: Declined by 10% year over year to EUR29 million. Net Income: Reached EUR54 million, up 28% year over year. Marketing Expenses: Substantially increased, particularly in the German and Spanish markets.
Warning! GuruFocus has detected 6 Warning Sign with WBO:FTK. Is WBO:FTK fairly valued? Test your thesis with our free DCF calculator.
Release Date: April 23, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Flatexdegiro SE (WBO:FTK) experienced a 17% increase in settled trades, indicating strong trading activity despite market volatility. The company saw significant customer trust, with over EUR3 billion in fresh money deposited in Q1 2026. Crypto trading volumes increased five-fold year over year, showcasing successful geographic expansion. Flatexdegiro SE achieved its highest ever quarterly net income of EUR54 million, demonstrating strong scalability. The introduction of stock savings plans in Germany and Austria is expected to enhance long-term customer engagement and revenue.
Negative Points
Marketing expenses increased substantially, with a EUR21 million spend not yielding the expected customer growth. The company faces tough year-over-year comparisons due to exceptional trading activity in the previous year. Interest income growth is challenged by a lower interest rate environment compared to the previous year. Customer acquisition costs have risen, with a lower number of new customers added compared to the previous year. The company anticipates continued marketing pressure across the industry, potentially impacting future growth.
Q & A Highlights
Q: Could you provide insights into the trading sentiment since the end of March? Are there any signs of trading fatigue from retail customers? A: Trading in April is slower compared to last year during Liberation Day, which was expected. It's not indicative of trading fatigue, as April remains a solid month. However, the final numbers are yet to be determined as the month progresses. - Benon Janos, CFO
Q: Can you elaborate on the marketing expenses this quarter, particularly the breakdown between normal marketing and targeted campaigns in Germany and Spain? A: We increased marketing spend by EUR10 million, focusing on Germany and Spain to boost brand recognition, especially in preparation for retirement savings accounts. The entire market has increased marketing spend, which affects attention levels. We have already reduced some of the expense basis in recent weeks. - Oliver Behrens, CEO
Story Continues
Q: What are your expectations for customer growth in the remaining quarters of the year and into next year? A: We expect customer growth to be at least 10% annually. While Q1 was slightly below 2025 levels, we anticipate growth, especially with potential pension accounts opening ahead of the German pension reform in January 2027. - Ahim Schreck, Head of Investor Relations
Q: Could you provide more details on the revenue contributions in the other income line, specifically from securities lending and third-party deposits? A: The IT-related part is just under EUR4 million, banking-related BPO outsourcing is around EUR1.5 million, and there was a release of provisions from last year of about EUR2 million. - Benon Janos, CFO
Q: Are there any regulatory changes in other European countries that present interesting opportunities for flatexDEGIRO? A: We are monitoring local retirement schemes in Europe, which may be comparable to Germany's reforms. We plan to offer stock and mutual fund savings plans across countries by the end of 2026, aligning with the EU's retail investment strategy. - Oliver Behrens, CEO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
The term of office of Oliver Behrens as CEO of flatexDEGIRO has been extended early until 31 March 2029 Focus on continuity and stability in the Company's leadership
FRANKFURT AM MAIN, GERMANY - April 2, 2026 (NEWMEDIAWIRE) - The Supervisory Board of flatexDEGIRO SE today resolved to reappoint Oliver Behrens as Chief Executive Officer (CEO) of the Company. His original term of office, which was due to expire on 30 September 2027, has been extended early until 31 March 2029 by way of reappointment. Oliver Behrens has served as CEO of flatexDEGIRO SE since October 2024. At the same time, Oliver Behrens was also reappointed as CEO of flatexDEGIRO Bank SE until 31 March 2029.
With this early contract extension, the Supervisory Board ensures continuity in the Company's leadership and underscores its confidence in the Company's performance to date as well as in the online broker's long-term growth strategy.
Hans-Hermann Lotter, Chairman of the Supervisory Board of flatexDEGIRO SE, commented: "Under the leadership of Oliver Behrens, flatexDEGIRO has seen strong momentum over the past eighteen months and has significantly strengthened its position as the leading platform for building wealth in Europe. In particular, the continuous launch of new products and services, the strong development of operational and financial metrics, and the clear focus on customer value have sustainably driven the Company's growth. The Supervisory Board is convinced that Oliver Behrens will further build on this successful trajectory in the years ahead and looks forward to continuing the close and constructive collaboration."
Since taking office in October 2024, Oliver Behrens has played a key role in further advancing flatexDEGIRO and consistently executing the strategic priorities presented in February 2025. Key areas of focus include improving operational efficiency, expanding the product offering, and driving the Company's strategic growth initiatives.
Oliver Behrens, Chief Executive Officer of flatexDEGIRO SE, said: "I would like to thank the Supervisory Board for the trust it has placed in me. The extension of my contract reflects our shared understanding that growth is primarily driven by innovation and the consistent rollout of new products. Together with the entire team, we will continue to pursue our growth strategy and further enhance efficiency in order to scale our European platform and create sustainable long-term value."
Media contacts:
Achim Schreck
Phone +49 (0) 69 450001 1700
Head of IR & Corporate Communications
achim.schreck@flatexdegiro.com
Laura Hecker Phone +49 (0) 160 3064 404
Executive Director Investor Relations
laura.hecker@flatexdegiro.com
Paul Wolter Telefon +49 (0) 173 626 4647
Executive Director Public Relations
paul.wolter@flatexdegiro.com
flatexDEGIRO SE – leading platform for building wealth in Europe
(www.flatexdegiro.com, ISIN: DE000FTG1111, Ticker: FTK.GR)
Serving more than 3.5 million customers in 16 countries, flatexDEGIRO's aspiration is to be the leading European platform for building wealth. The company holds Assets under Custody of close to EUR 100 billion and processed more than 75 million securities transactions for its customers in 2025.
Through three brokerage platforms - DEGIRO, flatex and ViTrade, flatexDEGIRO provides trading access to around 50 stock exchanges in Europe, North America and the Asia-Pacific region as well as to over-the-counter direct trading. Its customers are active and well-informed traders who trade without investment advice. With ViTrade, flatexDEGIRO also serves highly active traders.
Brokerage and banking business related to securities trading are handled by flatexDEGIRO Bank SE, a subsidiary with a full banking license. flatexDEGIRO uses proprietary technology with very high availability along the entire value chain and thus sets standards in platform and service quality.
Contact:
Achim Schreck
Head of IR & Corporate Communications
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 1700
achim.schreck@flatex.com
View the original release on www.newmediawire.com
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
This article first appeared on GuruFocus.
Revenue: EUR560 million, representing 17% year-over-year growth. Net Income: EUR160 million, a 44% increase year-over-year. EBITDA: EUR268 million, with a margin expansion to 48% from 42% in 2024. Customer Accounts: 3.5 million, a 13% increase year-on-year. Assets Under Custody: EUR95.5 billion at year-end. Settled Transactions: 75.3 million, a 19% increase year-on-year. Net Cash Inflows: EUR8.1 billion, a 22% year-on-year growth. Commission Income: EUR369 million, a 31% increase year-over-year. Interest Income: EUR173 million, with a slight decline of 4% year-over-year. Operating Expenses: EUR213 million, a 2.5% increase from 2024. Marketing Expenses: EUR34 million, an 8% increase from 2024. Dividend Payout: Target of 20% of annual net income, resulting in approximately EUR32 million for 2025.
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Release Date: February 26, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Flatexdegiro SE (FNNTF) reported a significant increase in customer growth, adding 446,000 new customers in 2025, marking a 13% year-on-year increase. The company achieved record revenues of EUR560 million in 2025, representing a 17% year-over-year growth. Net income for 2025 reached EUR160 million, a 44% increase from the previous year, demonstrating strong profitability. Flatexdegiro SE (FNNTF) successfully launched new products, including crypto trading and securities lending, contributing to revenue growth. The company maintained platform stability and performance during periods of high market volatility, ensuring customer satisfaction and operational efficiency.
Negative Points
The company anticipates a potentially more normalized trading environment in 2026, which may impact trading activity and revenue growth. Flatexdegiro SE (FNNTF) faces regulatory challenges in expanding securities lending across all markets due to varying tax regimes and legal requirements. The introduction of new technologies and AI requires careful integration and may pose challenges in maintaining operational efficiency. The company is exposed to potential fluctuations in interest income due to changes in ECB rates and customer cash levels. Flatexdegiro SE (FNNTF) has ongoing legacy issues, including legal provisions and write-downs, which may impact financial performance.
Q & A Highlights
Q: What are your views on the potential new tax regime on capital gains in the Netherlands and its implications for your business? A: Oliver Behrens, CEO: The proposed tax changes are set for 2028, and there is still uncertainty about their final form. The retirement schemes in the Netherlands are not affected by this tax. It seems challenging to tax unrealized capital gains without considering capital losses. We believe changes might occur before implementation.
Story Continues
Q: Can you provide more color on the drivers for customer growth in 2026, especially in Germany and other markets? A: Oliver Behrens, CEO: We are increasing our marketing budget by EUR10 million, focusing on Spain and Germany, while maintaining efforts in other countries. The goal is to gain significant market share, as seen in the Netherlands, where we have over 1.1 million customers. We expect customer growth to continue at a similar level due to low equity ownership rates in Europe compared to the US.
Q: Why are you guiding for stable commission per trade and lower transaction activity per client in 2026 despite new products and market opportunities? A: Benon Janos, CFO: We are being prudent with our guidance. The introduction of ETF savings plans at DEGIRO might impact commission per trade. We anticipate a 5% reduction in activity per client due to tough year-on-year comparisons in April and October. Our approach is conservative, considering potential market shifts.
Q: Why is the net interest income guidance for 2026 conservative despite deposit growth and expected cash level increases? A: Benon Janos, CFO: Last year, deposits grew unexpectedly by 45%, and clients left more money idle. We can't predict if this trend will continue. There are risks like SEPA instant payments and new market entrants offering competitive rates. Our guidance reflects these uncertainties, and we prefer a conservative approach.
Q: What is the expected penetration level for crypto trading among your customers, and over what time horizon? A: Benon Janos, CFO: Initially, we expected closer to 5% of clients trading crypto. Currently, 2% have traded, and we anticipate this number to rise, depending on market conditions. We aim to double the EUR1 billion crypto flow from last year, but the ultimate penetration will depend on the crypto market's evolution.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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