flatexDEGIRO AG / Key word(s): Change in Forecast/Quarter Results
Frankfurt/Main, 15 April 2021
flatexDEGIRO raises significantly its forecast for the current fiscal year after an outstanding Q1 2021
flatexDEGIRO added over 360,000 new customers in the first quarter of 2021, growing by 29 percent compared to the beginning of the year to 1.6 million customers. Compared to Q1 2020, the number of transactions settled in the first three months increased by 94 percent to 33.6 million (Q1 2020: 17.3 million). Quarterly revenues increased by 176 percent year-on-year to 134.9 million euros (Q1 2020: 48.9 million euros). Adjusted EBITDA reached 73.1 million euros (Q1 2020: 23.7 million euros), an increase of 208 percent.
Due to this outstanding development and the expectation of a dynamic continuation of new customer growth based on the strong first weeks of April, the Management of flatexDEGIRO AG today decided again to raise its growth expectation for the current fiscal year significantly.
Management now expects customer growth of 750,000 to 950,000 new customers for the full year 2021 and thus an expansion of the customer base to 2.0 to 2.2 million customers by year-end (previous expectation: 1.8 to 2.0 million customers). The number of transactions settled in 2021 is expected to be in a range of 90 to 110 million (previous expectation: 75 to 90 million).
The expected accelerated growth is assumed to have a significant positive impact on revenues, earnings, and free cash flow in 2021 and subsequent years.
Based on these developments, flatexDEGIRO is bringing forward the publication of the Group Interim Management Statement for the first quarter of 2021, which was scheduled for 20 April 2021, to Friday, 16 April 2021.
15-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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