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

FINTECH GROUP AG

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FinTech Group AG: 10,000 new customers decided for the zero-fee flatex trading offering in Holland in the first 8 weeks

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08/08/2019 | 02:35am EDT

DGAP-News: FinTech Group AG / Key word(s): Expansion/Market launch
FinTech Group AG: 10,000 new customers decided for the zero-fee flatex trading offering in Holland in the first 8 weeks

08.08.2019 / 08:30
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt/Main, August 8, 2019

FinTech Group AG: 10,000 new customers decided for the zero-fee flatex trading offering in Holland in the first 8 weeks

- flatex Holland with a rocket start: more than 170,000 website visitors and almost 10,000 new customers

- Record breaking number of new customers in 2019: over 32,000 new customers decided for a flatex account in Germany, Austria and Holland since beginning of the year - just as many as in the whole of 2018

- Expansion plans: preparations for the roll-out in Spain in Q4 are going according to plan

Frankfurt/Main - FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) achieved a record-breaking number of new customers at the beginning of the second half of this year with the popular online broker flatex. Since the market entry in Holland eight weeks ago, with the unique "zero-fee trading" offering in Europe, flatex has won almost 10,000 new customers in Holland. More than 32,000 new customers joined flatex since the beginning of the year, only in the month of July more than 11,000 new customers were onboarded.

"Our plans have definitely worked out. Over the last 12 years we have developed into a brokerage specialist, our customers in Holland have understood this and are trusting us. There is no real alternative on the market, in price or product offering. Almost 170,000 people have visited our flatex.nl platform and around 10,000 customers from Holland have already decided in favour of a flatex account. With 32,000 new flatex customers this year we have been able to win as many customers as in the whole of 2018. We are expecting to almost double the number of new customers this year. Our target of winning 60,000 new customers in 2019 remains in place." says Frank Niehage, CEO of FinTech Group AG.

flatex offers in Holland for the first time securities trading entirely for free. With the successful market entry, the online broker has been able to build a foundation for the planned pan-European internationalisation strategy and is now present in three different European countries (Germany, Holland, Austria). Until the end of 2020 at least three further countries will follow. In Spain, the online broker is ready for the launch and will enter the market with a zero-trading fee offer latest at the end of 2019.

"We will establish flatex as the pioneer for cost-free trading - with Holland we have demonstrated successful and profitable growth, now we are targeting Spain. With our highly efficient platform and the existing infrastructure "Made in Germany" we will accelerate our technological advantage and continue our growth in Europe. In the medium-term, for active traders in Europe there will be no way around flatex any longer." promises Muhamad Chahrour, CFO of FinTech Group AG.

Due to the positive developments and the successful market entry into Holland and despite the investments for the European expansion, the management already increased the EBITDA margin guidance for the financial year 2019 from 29% to 31% two weeks ago.


Contact:
Muhamad Said Chahrour Tel. 
Chief Financial Officer (CFO)
+49 (0) 69 450001 0
ir@fintechgroup.com

FinTech Group AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main


About FinTech Group AG

FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates with flatex one of the leading and fastest growing online brokerage businesses in Europe. Executing round about 12.5 million customer's secu-rities transactions paperless per annum. Offering their more than 300,000 B2C customers top services at a com-petitive pricing based on their modern, self-developed state-of-the-art technology.

Many B2B customers, the state infrastructure and established financial services companies as well as disruptive business ideas benefit from FinTech Group's white label banking technology and become quickly successful busi-nesses due to the self-developed core banking system (FTG:CBS) that belongs to the most modern and most modular systems in the market - the standard platform for private and specialist banks. In times of bank consol-idation, low interest rates and digitalisation, FinTech Group is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.


Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "ex-pects", "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 FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.



08.08.2019 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: FinTech Group AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: ir@fintechgroup.com
Internet: www.fintechgroup.com
ISIN: DE000FTG1111, DE0005249601
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 853997

 
End of News DGAP News Service

853997  08.08.2019 

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© EQS 2019
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Financials (EUR)
Sales 2019 139 M
EBIT 2019 33,3 M
Net income 2019 21,3 M
Finance 2019 85,9 M
Yield 2019 -
P/E ratio 2019 24,5x
P/E ratio 2020 18,1x
EV / Sales2019 3,18x
EV / Sales2020 2,88x
Capitalization 528 M
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Mean consensus BUY
Number of Analysts 4
Average target price 33,75  €
Last Close Price 27,65  €
Spread / Highest target 33,8%
Spread / Average Target 22,1%
Spread / Lowest Target 4,88%
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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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