(News Bulletin 247) – flatexDEGIRO today published its preliminary results for the 1st quarter of 2023.
Thus, turnover amounted to 98.3 million euros, down 16.7% compared to the same period in 2022.
At the same time, EBITDA contracted by 45%, dropping from 54.5 to 29.9 ME, with a margin of 30.4%.
With the creation of 112,000 new accounts in the 1st quarter, flatexDEGIRO can now boast of having 2.5 million customer accounts, a figure up 13.2% in one year. The number of transactions carried out is nevertheless down sharply, dropping from 21.9 to 16.3 million (-25.4%).
“The commercial and financial performance of the first quarter was entirely in line with our expectations and the guidance we provided for the whole of 2023”, underlines Frank Niehage, the managing director of flatexDEGIRO.
The official adds that while market sentiment remains at a relatively low level across the industry, the first uptick in business activity since the start of the war in Ukraine could be seen.
‘In these difficult times, retail investors continue to trust our platform for their investment decision. This was demonstrated once again during the last quarter with the opening of 112,000 new accounts.
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