DGAP-News: wallstreet:online AG / Key word(s): Annual Results/Forecast
wallstreet:online AG: Rapid growth and profitable fiscal 2020
2021-02-25 / 10:30
The issuer is solely responsible for the content of this announcement.
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wallstreet:online AG: Rapid growth and profitable fiscal 2020
. 2020 group revenues increase to EUR 28 million (pre-liminary, unaudited figures)
. 2020 operating EBITDA before Smartbroker customer acquisition costs and extra-ordinary items: EUR 11.9 million;
EBITDA margin at around 41%
. Smartbroker gains more than 80,000 new customers; establishes itself amongst Germany's leading online brokers
. 2021 forecast: Group revenues increase to EUR 45 to 50 million
Berlin, 25 January 2021
wallstreet:online AG (ISIN DE000A2GS609) has continued its profitable growth in its core business in fiscal 2020 whilst
at the same time successfully entering the online brokerage business through its Smartbroker brand. Based on
preliminary and unaudited figures, the Group generated consolidated 2020 revenues of approximately EUR 28 million. 2020
represents the first year in wallstreet:online's history that the company is publishing consolidated financial
statements in addition to single-entity accounts.
The pre-liminary consolidated operating EBITDA* amounts to EUR 4.3 million and is hence in line with the guidance last
updated on 16 September 2020. The result was largely shaped by costs relating to new projects amounting to approx. EUR
7.6m, primarily made up of Smartbroker customer acquisition costs. Without these customer acquisition costs,
wallstreet:online generated an operating EBITDA of around EUR 11.9 million, corresponding to an EBITDA margin of around
41%. wallstreet:online capital AG is consolidated at equity in fiscal 2020 and has contributed around EUR -0.1 million
to consolidated pre-tax earnings. The operating EBITDA is stated before extra-ordinary items totalling a net gain of
around EUR 2.7 million, generated primarily by the disposal of the Group's shareholding in Trade Republic Bank GmbH.
Stefan Zmojda, CEO of wallstreet:online AG, comments: "Our 2020 financial results evidence our robust and profitable
growth during the past year. Thanks to expanding reach and advertising income, we have once more been able to increase
the earnings power of the Group."
The Portal and Social Communities business benefitted from rising user numbers and advertising income. Whilst the
overall reach amounted to 245 million page impressions in February 2020, it rose during the course of the year to reach
347 million page impressions by December (incl. wallstreet-online.de, finanznachrichten.de, ariva.de and
boersennews.de).
Revenues of the Portal and Social Communities business increased by 25%. Stefan Zmojda, CEO of wallstreet:online AG:
"Despite the COVID-19 pandemic and the ongoing lockdown, we look back on a very successful fiscal 2020. Our Portal
business benefits from the significant acceleration in digitalization. Low-interest rate policies and a growing need
for private retirement savings and investments increase the interest in independent and peer information about
financial products, thus driving traffic to our portals and communities and securing higher revenues. We assume that
this trend will continue into 2021."
Smartbroker: Transaction Business the Key Long-Term Growth Driver
More than 80,000 customers opened Smartbroker securities accounts during Smartbroker's first year of operation,
representing a sound foundation for the further growth of wallstreet:online AG. The transformation of the company into
an online broker with an integrated financial community has hence been successfully initiated: "Customers have embraced
Smartbroker, which has also excelled in independent price and product comparisons, winning several prestigious awards
and accolades. We launched the right product at the right. The number of new customers has exceeded our own
expectations and is an impressive confirmation of our new strategic orientation".
The company anticipates to continue its dynamic development into the current fiscal year. For 2021, wallstreet:online
AG plans to increase its revenues by around 60 to 75 percent to EUR 45 to 50 million. About 40% of the total revenues
are expected to be generated from the transaction business, and around 60% from advertising income. The consolidated
operating EBITDA is estimated at EUR 4 to 6 million.
Smartbroker customer acquisition costs are expected to be around EUR 12.5 million in 2021. Without these costs, the
consolidated operating EBITDA is expected to range between EUR 16.5 and 18.5 million. Whilst by the end of February
2021, Smartbroker will have added around 30,000 new customers, total Smartbroker customer growth for the entire year is
budgeted at around 120,000 new customers. At the end of 2021 Smartbroker is hence expected to have grown to a total of
200,000 customers.
This forecast includes wallstreet:online capital AG on a fully consolidated basis, since wallstreet:online AG expects
that the ongoing change of control proceedings in relation to the increase of its shareholding in wallstreet:online
capital AG to approx. 73% (routinely prescribed by the German Banking Act) will be completed during 2021.
Stefan Zmojda adds: "The market environment offers us outstanding investment opportunities for the further expansion of
our business. The focus is clearly on investments in Smartbroker. Although the strong customer growth necessitates
higher initial expenditure and investment, it significantly increases our medium-term revenue and profit outlook.
Smartbroker has gained accolades and awards in several price and product comparisons in 2020, demonstrating that our
product is among the most attractive and favourably priced offers in today's German online brokerage market."
The audited single-entity and consolidated financial statements for fiscal 2020 in accordance with German GAAP (HGB -
German Commercial Code) are expected to be published in June 2021 at www.wallstreet-online.ag.
* Operating EBITDA is calculated as follows: earnings before taxes, interest and depreciation before extraordinary
items totalling a net gain of approx. EUR 2.7m, generated primarily by the disposal of wallstreet:online AG's
shareholding in Trade Republic Bank GmbH.
About the wallstreet:online Group:
Headquartered in Berlin and with offices in Zurich, Leipzig, Munich, and Kiel, the wallstreet:online Group operates the
portals wallstreet-online.de, boersenNews.de, FinanzNachrichten.de and ARIVA.de. With around 466 million page
impressions (as of 1/2021), the Group is the by far largest publisher-independent financial portal operator in
German-speaking Europe, and the number one financial community. Through wallstreet:online capital AG, the company has
been operating for 20 years in the discount online financial intermediary business and therefore commands comprehensive
expertise in the sale of investment products at minimum fees. Smartbroker is operated by wallstreet:online capital AG,
which is subject to the German Federal Financial Supervisory Authority (BaFin). FondsDISCOUNT.de, the largest
bank-independent online discount investment broker in Germany, is the second major product of wallstreet:online capital
AG.
Press contact:
Felix Rentzsch
Press Spokesperson of the wallstreet:online Group
Mobile: +49176 4165 0721
Email: f.rentzsch@wallstreet-online.de
URL: https://www.wallstreet-online.ag
Financial press and Investor Relations:
edicto GmbH
Ralf Droz / Svenja Liebig
Telephone: +49 69 905505 56
wallstreet-online@edicto.de
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2021-02-25 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.
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Language: English
Company: wallstreet:online AG
Seydelstraße 18
10117 Berlin
Germany
Phone: +49 (0) 30 2 04 56 382
Fax: +49 (0) 30 2 04 56 450
E-mail: m.bulgrin@wallstreet-online.de
Internet: www.wallstreet-online.de
ISIN: DE000A2GS609
WKN: A2GS60
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart,
Tradegate Exchange
EQS News ID: 1171037
End of News DGAP News Service
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1171037 2021-02-25
(END) Dow Jones Newswires
February 25, 2021 04:31 ET (09:31 GMT)