FlatexDEGIRO : Top- and bottom-line expected to grow albeit at lower rates than in H1 2024
>Revenue growth to come down to low double digits in Q3 - We expect FlatexDEGIRO to have grown revenue in Q3 by +12.6% y-o-y to € 114.3m (+1.9% above the consensus) driven by growth in both commission income and interest income, albeit at lower rates than we saw in H1 (+27.8% y-o-y). Clients have executed roughly 14.9m trades in Q3, i.e. an increase of +7.5% y-o-y and we expect average commission per trade to be around € 4.30 (Q2 2024 at € 4.33). Hence, we estimate c...Flatex AG, formerly known as Fintech Group AG, is a Germany-based company engaged in the financial technology sector. The Company divides its business into two operational segments: Securities Trading and Financial Services (ST & FS) and Transaction Processing and White-Label Banking Services (TP & WLBS). The ST & FS segment includes online brokerage in the business-to-consumer (B2C) sector in Germany (on trading platforms such as flatex.de, vitrade.de) and Austria (flatex.at). The operations are conducted by the subsidiaries flatex GmbH and ViTrade GmbH. The TP & WLBS segment includes the business-to-business (B2B) activities of subsidiaries XCOM AG and FinTech Group Bank AG that focus on research and development in the area of financial technology and provide back-end execution of securities transactions for the Company's own platforms and for other banks, as well as offer business process outsourcing services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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