Flatex AG (XTER:FTK)

€ 13.44 -0.155 (-1.14%) Market Cap: 1.48 Bil Enterprise Value: -1.38 Bil PE Ratio: 20.68 PB Ratio: 2.19 GF Score: 82/100

Q2 2022 flatexDEGIRO AG Preliminary Earnings Call Transcript

Jul 13, 2022 / 08:00AM GMT

Release Date Price: €9.13 (-2.21%)

Transcript

Operator

Yes. Good morning, everyone. A warm welcome from my side here out of our office in Frankfurt, together with Achim Schreck, my colleague, who's heading IR. In the call as well as my colleague Muhamad Chahrour, the CFO is joining us from the [Sofia] office. We are happy to share with you a bit more details on our half year figures. And like always, I will start with a rather brief and general introduction and then hand over to my colleague, Muhamad Chahrour, who will then run you through our presentation. And yes, let me briefly start with the geopolitical situation, and I don't want to spoil your day, but we all know we are in tough times. There was a war in Europe and with interest rate hikes and inflation going up and everyone fearing recession. So very, very challenging times. However, we are very proud that we could show that our business model is a very robust one and that we have great clients.

What does that mean? If we look at the first quarter, our clients only topped with respect to the assets under custody with us 2% and then within the second quarter altogether, year-to-date the assets

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