FlatexDEGIRO: net income soars in Q1

(CercleFinance.com) - flatexDEGIRO reports sales of E123m for Q1 2024, reflecting a 25% increase in activity y-o-y.


EBITDA more than doubled to E53.6m (+177%), with an EBITDA margin of 43.6% versus 19.7% twelve months earlier.

The broker recorded net earnings of E30m, more than quadrupled in the space of a year (+340%).

At the end of Q1, flatexDEGIRO had 2.81 million customers, up 12.4%, with 121,000 gross new accounts (+7.8%).

On the basis of current developments, management expects revenues and consolidated net income for 2024 to be at the top end of its forecast range. Note that at the beginning of the year, flatexDEGIRO forecast sales growth of between 5% and 15%, and consolidated net income growth of between 25% and 50%.

The broker remains cautious, however, citing uncertainties linked to growing geopolitical tensions, as well as the lack of visibility regarding interest rate trends amongst the world's central banks.


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