Investment Thesis

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

flatexDEGIRO operates the leading and fastest growing online brokerage platform in Europe, executing more than 90 million paperless securities transactions in 2021. More than 2.2 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/5 MB) ↓

Key Performance Indicators flatexDEGIRO

Operating business 2021 2020 2019 2018 2017
Transactions executed 91,015,832 75,024,392 12,274,525 12,483,344 11,272,496
Average number of customer accounts 1,696,568 1,101,473 368,133 290,288 253,825
Transactions per customer account/year 54 68 33 43 44
Customer assets under custody EUR m 43,863 31,765 14,586 10,995 11,794
Financials 2021 2020 2019 2018 2017
Revenues EUR k 417,581 261,490 131,952 125,100 107,014
Adjusted EBITDA EUR k 177,073 113,953 37,831 42,368 32,073
Adjusted EBIT EUR k 145,246 89,314 25,002 30,618 26,484
Net income EUR k 51,550 49,924 14,908 17,474 16,796
Earnings per share (undiluted)* EUR 0.47 0.55 0.19 0.25 0.25
Equity EUR k 499,385 445,834 182,202 163,656 112,724
Total assets EUR k 3,690,589 2,818,178 1,265,962 1,224,168 1,107,433
Equity ratio in % 13.5 15.8 14.4 13.4 10.2
Operating Cash flow TEUR 125,028 141,452 45,513 17,536 23,729
Adjusted Cost-income ratio in % 49.9 46.3 59.9 52.0 58.5
Employees (average) 1,050 716 527 497 453

*based on shares outstanding as of 12/31/2021

Contact

Achim Schreck
Head of IR and Corporate Communications
Omniturm, Große Gallusstraße 16-18,
60312 Frankfurt/Main, Germany
Mobile +49 160 92774570
achim.schreck@flatexdegiro.com