Investment Thesis

From a hidden champion in Germany to the leading online broker in Europe

flatexDEGIRO operates one of the leading and fastest growing online brokerage businesses in Europe, executing more than 75 million paperless securities transactions per annum. More than 1.25 million customers 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 flatex’s acquisition of DEGIRO in July 2020 flatexDEGIRO became the largest retail online brokers in Europe. In a time of bank consolidation, low interest rates and digitalization, flatexDEGIRO is thus ideally positioned for further growth. Until 2026, we aim to serve 7-8 million customers and execute at least 250-350 million transactions per year - even in a year with only low volatility.

Corporate Presentation Download (PDF/1,9 MB) ↓

Key Performance Indicators flatexDEGIRO

Operating business 2020 2019 2018 2017 2016
Transactions executed 75,024,392 12,274,525 12,483,344 11,272,496 10,462,477
Number of customers 1,023,726 368,133 290,288 253,825 212,040
Transactions per customer/year 73 33 43 44 49
Customer assets under management EUR m 31,765 14,586 10,995 11,794 10,855
Financials 2020 2019 2018 2017 2016
Revenues EUR k 261,490 131,952 125,100 107,014 95,021
Adjusted EBITDA EUR k 113,953 37,831 42,368 32,073 30,624
Adjusted EBIT EUR k 89,314 25,002 30,618 26,484 25,465
Net income EUR k 49,924 14,908 17,474 16,796 12,316
Earnings per share (undiluted) EUR 2.18 0.77 0.98 1.00 0.73
Equity EUR k 445,834 182,202 163,656 112,724 90,629
Total assets EUR k 2,818,178 1,265,962 1,224,168 1,107,433 1,533,994
Equity ratio in % 15.8 14.4 13.4 10.2 5.9
Operating Cash flow TEUR 141,452 45,513 17,536 23,729 15,543
Adjusted Cost-income ratio in % 46.3 59.9 52.0 58.5 67.8
Employees (average) 716 527 497 453 448

Contact

Achim Schreck
Head of IR and Corporate Communications
Rotfeder-Ring 7
60327 Frankfurt, Germany
Mobile +49 160 92774570
achim.schreck@flatexdegiro.com