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MarketScreener Homepage  >  Equities  >  Xetra  >  FinTech Group AG    FTK   DE000FTG1111

FINTECH GROUP AG

(FTK)
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flatex AG: New multi-million cooperation agreement with Equatex until 2026

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11/04/2019 | 02:20am EST

DGAP-News: flatex AG / Key word(s): Alliance/Sales Result
flatex AG: New multi-million cooperation agreement with Equatex until 2026

04.11.2019 / 08:15
The issuer is solely responsible for the content of this announcement.


  • flatex and Equatex extend their strategic partnership until at least 2026
  • flatex secures multi-year B2B partnership and significant earnings potential in a double-digit million range

Frankfurt am Main - After several success messages from flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) in the B2C sector (record number of new customers, successful market launch in Netherlands, new CFD partnership with Societe Generale), flatex has now achieved great success in the B2B sector. The long-term strategic partnership with Equatex, one of the most important and largest BPO customers, was extended ahead of schedule for at least another five years until the end of 2026. Equatex, since November 2018 part of the Computershare Group, is a leading global provider of share-based payment administration services. As a strategic partner, flatex Bank will provide additional services to Equatex in addition to its existing business. With the extension of the partnership, the remuneration for BPO services has also been adjusted, which guarantees significant additional income for both parties.

"In the past 12 months, we have achieved many significant milestones on our growth course, especially in the B2C segment with our flatex offering in Germany, Austria and the Netherlands. The extension of the business relationship with Equatex, one of our most important B2B customers, illustrates our commitment to the business model and the potential we see. We look forward to growing with Equatex in the future and continuing our joint success story," says Frank Niehage, CEO of flatex AG.

flatex Bank currently manages around 1.5 million security accounts and three billion euros in assets under custody for the approximately 500,000 Equatex plan participants. The tendency is rising, especially since more and more companies in the German market want to bind and incentivize their executives long term with stock and option programs.

"With our unique infrastructure and platform, we have positioned ourselves as an important service provider for our B2B customers, not despite, but because of our B2C business and our in-depth expertise in security-related business models. With Equatex, we have won an important long-term client as a strategic partner whose challenges we fully understand. As a service provider, this understanding is inevitable in order to be able to accompany the growth of our B2B customers in the long term," says Muhamad Chahrour, CFO of flatex AG. "We are talking about a contract volume of more than EUR 20 million, so the strategic cooperation will be reflected significantly in the Group's figures in the future."

Contact:
Muhamad Chahrour
CFO & IR
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 0
ir@flatex.com


04.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: flatex AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: ir@flatex.com
Internet: www.flatex.com
ISIN: DE000FTG1111
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 903201

 
End of News DGAP News Service

903201  04.11.2019 

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© EQS 2019
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Financials (EUR)
Sales 2019 140 M
EBIT 2019 35,2 M
Net income 2019 22,2 M
Finance 2019 87,7 M
Yield 2019 -
P/E ratio 2019 20,0x
P/E ratio 2020 16,2x
EV / Sales2019 2,47x
EV / Sales2020 2,21x
Capitalization 433 M
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Mean consensus BUY
Number of Analysts 4
Average target price 34,75  €
Last Close Price 22,90  €
Spread / Highest target 70,3%
Spread / Average Target 51,7%
Spread / Lowest Target 26,6%
EPS Revisions
Managers
NameTitle
Frank Niehage Chief Executive Officer
Martin Korbmacher Chairman-Supervisory Board
Muhamad Said Chahrour Chief Financial Officer
Stephan Simmang Chief Technology Officer
Stefan Müller Deputy Chairman-Supervisory Board
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