Q3 2025 flatexDEGIRO AG Earnings Call Transcript
Key Points
- Flatex AG (FNNTF) reported a substantial increase in revenue and net income for Q3 2025, leading to an upgrade in full-year guidance.
- The company successfully launched new products, including crypto trading and securities lending, expanding its service offerings and customer base.
- Administrative expenses were significantly reduced, contributing to increased profitability and a cleaner, sustainable cost base.
- Assets under custody reached a new all-time high, with a 42% year-on-year increase, indicating strong customer trust and growth.
- The company is implementing a new treasury system to better monetize cash deposits, aiming for higher returns while maintaining a risk-averse approach.
- The crypto market remains volatile, which could impact the company's new crypto trading business.
- The securities lending program is still in its early stages, making it difficult to predict adoption rates and actual volumes.
- Interest income declined slightly due to a lower interest rate environment, despite efforts to stabilize it.
- There is an ongoing regulatory investigation related to a past marketing campaign, which could result in potential fines.
- The transition to a European SE legal structure is expected to bring only minor cost savings, limiting immediate financial benefits.
For the first part of the conference call, the participants will be in listen-only mode. Participants are able to ask questions by dialing hash key 5 on the telephone keypad.
Now I will hand the conference over to Achim Srei, head of investor relations. Please go ahead.
Thank you and good morning everyone. Many thanks for dialing in and a warm welcome to our analyst call relating our Q3 2025 results, which we published yesterday evening postmarked close. My name is Achim Schreck, and I'm heading the investor relations team here at Flat de Giro.
With me today are our CEO Oliver Behrens, as well as our CFO, Dr. Bennoyanos, 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 Hecker.
As usual, we would like to provide a short run through the presentation before we open up for your question.
And without deliver, please go ahead. The
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