DGAP-Adhoc: flatexDEGIRO concretises guidance for 2022; half-year consolidated earnings already expected to exceed the full-year figure for 2021

flatexDEGIRO concretises guidance for 2022; half-year consolidated earnings already expected to exceed the full-year figure for 2021

In preparing the auditor's review of the half-year financial report H1/2022, the Management Board of flatexDEGIRO AG further specified its expectation for the current financial year, including its financial targets for 2022, based on the operational and financial development of the months January to May 2022.

Despite normalised trading volumes and activity to pre-Covid times, the Management Board expects to achieve revenues of EUR 400 million to EUR 440 million in 2022, matching the level of the record year 2021 (2021: EUR 417.6 million). Average revenue per transaction is expected to be significantly above the previous year's level (2021: EUR 4.59) at well over EUR 5. This results in an expected number of completed transactions of 75 to 85 million in 2022.

In the current challenging environment, flatexDEGIRO will continue to invest in brand awareness and customer acquisition and expects to add 600,000 to 700,000 gross new customer accounts for the full year 2022.

Due to the significantly improved monetisation, the Management Board expects to achieve an Adjusted EBITDA margin at the previous year's level for the full year 2022 (2021: 42.4 percent).

Positive earnings effects from the expansion of the customer offering planned for late summer/autumn to include digital wealth management, cryptocurrency trading and expected interest rate adjustments by the European Central Bank are not yet reflected in this expectation.

Half-year consolidated result expected to exceed full-year figure for 2021

Based on current knowledge, the Executive Board already expects to report a consolidated net profit for the first half of 2022 that is above the consolidated net profit for the full year 2021 (Full year 2021: EUR 51.6 million, earnings per share of EUR 0.47).

Preliminary figures for the first half-year will be published by flatexDEGIRO on 12 July 2022 (after close of trading). The publication date for the complete, reviewed half-year financial report is 30 August 2022.

Contact:

Achim Schreck
Head of IR & Corporate Communications
flatexDEGIRO AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
Tel. +49 (0) 69 450001 0
[email protected]

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