FlatexDEGIRO: net income up 133% to 31 ME in Q2
(CercleFinance.com) - Revenues rose by 31% to E119 million in Q2 2024 (Q2 2023: E90 million).
Commission income (+25%) benefited from a growing customer base and higher average customer sales activity.
EBITDA is up 82% to 53 million euros (Q2 2023: 29 million euros) and net income is up 133% to 31 million euros (Q2 2023: 12 million euros).
The company recorded 205,900 new customer accounts opened in H1 2024, up 11% (H1 2023: 186,000).
Net new money totaled 3.25 billion euros in H1 2024 (up +14% from 2.86 billion euros in H1 2023).
Revenues in 2024 are expected to rise by up to 15% and net income by up to 50%.
Dr. Benon Janos, co-CEO and CFO of flatexDEGIRO AG said: 'After a good start to the year, we continued our very solid performance in the second quarter, well on track for a record 2024'.
Stephan Simmang, co-CEO and CTO of flatexDEGIRO AG said: 'In the first half of 2024, we saw a strong increase in commission and interest income, driven by continued customer growth and a favorable interest rate environment'.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Commission income (+25%) benefited from a growing customer base and higher average customer sales activity.
EBITDA is up 82% to 53 million euros (Q2 2023: 29 million euros) and net income is up 133% to 31 million euros (Q2 2023: 12 million euros).
The company recorded 205,900 new customer accounts opened in H1 2024, up 11% (H1 2023: 186,000).
Net new money totaled 3.25 billion euros in H1 2024 (up +14% from 2.86 billion euros in H1 2023).
Revenues in 2024 are expected to rise by up to 15% and net income by up to 50%.
Dr. Benon Janos, co-CEO and CFO of flatexDEGIRO AG said: 'After a good start to the year, we continued our very solid performance in the second quarter, well on track for a record 2024'.
Stephan Simmang, co-CEO and CTO of flatexDEGIRO AG said: 'In the first half of 2024, we saw a strong increase in commission and interest income, driven by continued customer growth and a favorable interest rate environment'.
Copyright (c) 2024 CercleFinance.com. All rights reserved.