- Almost 35,000 new customers decided in January for flatex and DeGiro
- flatex and DeGiro settle pro forma 4 million securities transactions in January
- 2020 target of jointly 1 million customers and 35 million transactions confirmed
Frankfurt am Main/Amsterdam - After the announced transaction in December 2019, flatex (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) and DeGiro are fully focused on European growth and achieve record results in January. In January, flatex recorded with almost 11,000 new security account openings a record number in the history of the company (+118% compared to the same month previous year), while DeGiro gained over 23,000 new customers (+92% compared to the same month previous year). In total, both brokers together processed pro forma 4 million transactions (+56% compared to the same month previous year), where flatex settled 1.6 million transactions and DeGiro 2.4 million transactions.
"We are very pleased with the extraordinarily successful start of the year at flatex and DeGiro. Due to the pending regulatory approval, we have not even started to offer our clients 'best of both worlds'. However, the figures in January already indicated where our joint journey with DeGiro will take us after completion of the transaction and once again confirmed our decision to acquire 100% in DeGiro. Customers are obviously looking forward to the joint future offer of both companies which will include more products and increased services.", says Frank Niehage, CEO of flatex AG.
In the first step, flatex acquired 9.4% directly with the signing of the contract in December 2019. The acquisition of the remaining shares is subject to the approval of the regulatory authorities, which is expected in the second quarter of 2020 to complete the transaction. Both brands will be retained and both platforms will be continued to be operated.
"Once again, our assumption that size, scaling and customer focus are key to the long-term success of our group is confirmed. The pro forma January results impressively demonstrate how important it is to position flatex/DeGiro on a pan-European basis in the future." says Muhamad Chahrour, CFO of flatex AG. "Without changing our marketing strategies and costs, we have more than doubled our pro forma number of new customers compared to the same month previous year. The January results have been a first, but significant step towards achieving our target of 1 million customers and 35 million transactions in 2020".
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.
Contact:
Muhamad Chahrour
CFO & IR
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 0
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