Flatex AG (CHIX:FTKd)

€ 26.06 (0%) Market Cap: 2.91 Bil Enterprise Value: -429.23 Mil PE Ratio: 27.82 PB Ratio: 4.14 GF Score: 80/100

Q1 2025 flatexDEGIRO AG Earnings Call Transcript

Apr 29, 2025 / 08:00AM GMT

Release Date Price: €22.56 (+12.80%)

Transcript

Key Points

Positve

Flatex AG (XTER:FTK) reported its best quarter to date in terms of revenue and earnings, with revenues reaching EUR 146 million and net income at EUR 42 million.
The company saw a significant increase in commission income, rising to EUR 98 million, driven by high trading volumes due to volatile markets.
Flatex AG (XTER:FTK) maintained stable interest income at EUR 43 million despite lower interest rates, thanks to higher cash deposits and margin loan volumes.
The company successfully divested its non-core real estate loan portfolio, improving its NPL ratio and focusing on core business activities.
Flatex AG (XTER:FTK) received multiple awards, including best online broker in Germany and best crypto broker, reflecting strong customer satisfaction and market recognition.

Negative

Personnel expenses increased due to higher long-term variable compensation linked to the strong rise in share price.
Interest income is expected to decline with potential further rate cuts by the European Central Bank.
The company remains cautious in its 2025 outlook due to uncertainties around market volatility and geopolitical events.
Cash levels under custody may normalize in the coming quarters as clients reinvest funds, potentially impacting interest income.
The company faces competitive pressures in pricing for its crypto and margin loan offerings as it expands into new markets.

Operator

Good day ladies and gentlemen, you're currently on hold for today's conference call. At this time, we're still assembling today's audience and plan to be on the way shortly.

Thank you for your patience and please continue to hold.

Hello and welcome to the flatexDEGIRO Q1 2025 analyst call. Please note this call is being recorded. (Operator Instructions)

I will now hand you over to Achim Schreck to begin today's conference. Please go ahead.

Achim Schreck

flatexDEGIRO AG - Head of Investor Relations and Corporate Communications

Good morning, everyone. Many thanks for dialing in and welcome to our analyst call relating to our Q1 2025 results, which we published yesterday evening postmark vote.

I'm Achim Schreck and I'm heading the IR department here at flatexDEGIRO, and with me today I have our CEO Oliver Behrens; as well as our CFO Doctor Benon Janos, who will lead us through today's presentation.

We also have with us Doctor Thomas Lindner, our global head of finance, as well as my IR colleague Laura.

As

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