11.05.2021 flatexDEGIRO AG  DE000FTG1111

DGAP-News: flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG


DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous
flatexDEGIRO AG: Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

11.05.2021 / 12:30
The issuer is solely responsible for the content of this announcement.

Corporate News / Frankfurt/Main, 11 May 2021

Successful merger of DeGiro B.V. into flatexDEGIRO Bank AG

- Legal merger simplifies Group structures, reduces complexity and costs

- Strengthened branch management team to further accelerate international growth

- DEGIRO customers will benefit from new product and service offers launched in H2 2021

- Significant upside to annual EUR 30m+ synergy guidance expected in the medium term

- "Vision 2025" under review due to the Group's excellent operating performance

Frankfurt/Main - flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest retail online broker has successfully finalized the legal merger of its subsidiaries DeGiro B.V. and flatexDEGIRO Bank AG and further strengthens the DEGIRO leadership team. In addition to his current role as Group CFO, Muhamad Chahrour, will join the branch management, becoming CEO of DEGIRO. Stephan Simmang, currently Co-Head IT of DEGIRO, and Frans Kuijlaars, currently Country Manager in the Netherlands, will be appointed additional branch managers. Esmond Berkhout and Peter Verberne will leave the Company. With the new team, simplified structures, continued operational tailwind and new customer offerings, the Company is very well positioned to significantly exceed the original synergy expectation in the medium term.

Nine months after closing the acquisition, DEGIRO has become a branch of flatexDEGIRO Bank under the supervision of the German Federal Financial Supervisory Authority (BaFin) as a result of the merger. This leads to a significant reduction in regulatory complexity and the number of internal corporate bodies. At the same time, the new structures will harmonize the corporate governance and allow for better steering and internal monitoring. Management expects further cost reductions and overall improvement of the risk profile while strengthening efficiency and capabilities.

The Supervisory Board of flatexDEGIRO Bank AG extends its gratitude to the former branch managers, Esmond Berkhout and Peter Verberne, who have decided to leave the company by mutual agreement.

"With the acquisition of DEGIRO we have started a new era of online brokerage in Europe. Our achievements over the last nine months have been tremendous. The merger will make us even faster in achieving our goals, allowing us to put our current "Vision 2025" under review for an upgrade," says Frank Niehage, CEO of flatexDEGIRO. "Muhamad Chahrour has played an essential role in the acquisition of DEGIRO and has been a driving force of our success for years. With his strong commercial, financial as well as international and cosmopolitan background, he is ideally positioned to lead our pan-European brand to the next level. I could not think of anyone better to fuel our unabated commercial growth as a united European team."

"I am very excited to provide operational support to our strong DEGIRO brand at such a pivotal point in its strategic growth journey. With an unwavering focus on commercial excellence, we are burning to provide best-in-class service to all our customers. Soon, we will move forward another big step by enabling all DEGIRO customers to access further products and services that will stand out in the markets," says Muhamad Chahrour, CFO of flatexDEGIRO AG. "We are determined to seize the opportunity and build something truly unique in Europe. The stellar customer growth, an improved product offering and simplified structures will help us to significantly exceed the originally expected annual EBITDA-synergies of EUR 30+ million in the medium term."


Achim Schreck
Head of IR & Corporate Communications

Rotfeder-Ring 7
D-60327 Frankfurt/Main

Tel. +49 (0) 69 450001 0
[email protected]

About flatexDEGIRO AG

flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, executing millions of paperless securities transactions per annum. B2C customers in 18 European countries are serviced via the flatex and DEGIRO brands and offered a wide range of independent products at competitive pricing, based on a modern, in-house state-of-the-art technology.

With more than 1.25 million customers and 75 million securities transactions in 2020, flatexDEGIRO is the largest retail online broker in Europe. In a time of bank consolidation, low interest rates and digitalization, the flatexDEGIRO Group is ideally positioned for further growth. Until 2025 at the latest, flatexDEGIRO aims to win over 3 million customers and execute at least 100 million transactions per year - even in years with only low volatility.

Achim Schreck
Head of IR & Corporate Communications
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 1700
[email protected]

11.05.2021 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: flatexDEGIRO AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Phone: +49 (0) 69 450001 0
E-mail: [email protected]
Internet: www.flatexdegiro.com
ISIN: DE000FTG1111
Indices: SDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1195151

End of News DGAP News Service

1195151  11.05.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 95,02 107,01 125,10 131,95 261,49 417,58 500,00
EBITDA1,2 30,62 32,07 42,37 37,58 98,43 112,09 210,00
EBITDA-Marge3 32,22 29,97 33,87 28,48 37,64 26,84 42,00
EBIT1,4 25,47 26,48 30,62 24,75 73,79 80,26 178,00
EBIT-Marge5 26,80 24,75 24,48 18,76 28,22 19,22 35,60
Jahresüberschuss1 12,32 16,80 17,47 14,91 49,92 51,55 119,00
Netto-Marge6 12,97 15,70 13,96 11,30 19,09 12,35 23,80
Cashflow1,7 -143,96 0,11 250,07 -157,25 141,45 125,03 160,00
Ergebnis je Aktie8 0,11 0,15 0,16 0,14 0,55 0,47 1,08
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

WKN Kurs in € Einschätzung Börsenwert in Mio. €
FTG111 13,860 Kaufen 1.523,11
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
9,90 31,00 0,32 55,44
3,05 12,18 3,65 13,59
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,00 0,00 0,00 17.05.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
26.04.2022 30.08.2022 25.10.2022 29.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-19,75% -27,05% -31,52% -40,83%
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FinTech , FTG111 , FTK , XETR:FTK