flatexDEGIRO: share rises after record year
(CercleFinance.com) - On Thursday, flatexDEGIRO is benefiting from its record-breaking performance in FY 2020, a sign that the German online broker has taken advantage of renewed interest in the stockmarket due to the coronavirus crisis.
The flatexDEGIRO share price, which has almost tripled in a year, is currently up about 1.5%, having previously risen by over 3% in early trading, representing a significant to outperformance of a pretty flat market in Frankfurt.
The Frankfurt-based online broker this morning reported revenues of 261.5 million euros last year, almost double its 2019 figure, which was already a record high.
At the same time, its adjusted operating profit (EBITDA) soared by more than 200% to 114 million euros.
The broker says it has won an additional 450,000 customers in 2020, bringing its total to 1.25 million.
Better still, the group says it expects further growth in its sector.
According to flatexDEGIRO, the European online brokerage market - which it currently estimates at around 65 million members - could double in the medium term.
This momentum is explained by interest in the stockmarket froim younger generations, who are 100%- connected and who have not yet experienced a market crash.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The flatexDEGIRO share price, which has almost tripled in a year, is currently up about 1.5%, having previously risen by over 3% in early trading, representing a significant to outperformance of a pretty flat market in Frankfurt.
The Frankfurt-based online broker this morning reported revenues of 261.5 million euros last year, almost double its 2019 figure, which was already a record high.
At the same time, its adjusted operating profit (EBITDA) soared by more than 200% to 114 million euros.
The broker says it has won an additional 450,000 customers in 2020, bringing its total to 1.25 million.
Better still, the group says it expects further growth in its sector.
According to flatexDEGIRO, the European online brokerage market - which it currently estimates at around 65 million members - could double in the medium term.
This momentum is explained by interest in the stockmarket froim younger generations, who are 100%- connected and who have not yet experienced a market crash.
Copyright (c) 2021 CercleFinance.com. All rights reserved.