(News Bulletin 247) – flatexDEGIRO publishes adjusted revenue of 90.8 ME for the 2nd quarter (+7.8% compared to the same period a year earlier), while adjusted EBITDA stands at 33.9 ME (+24.2%).
The number of customers reached 2.56 million, up 11.9%. On the other hand, gross account creations slowed down from 97,300 to 73,600 (i.e. -24.3%).
Over the first half of the year as a whole, adjusted revenue was €189.1 million, down 6.5% compared to the same period in 2022.
Half-year adjusted EBITDA contracted by 21.9%, from 81.8 to 63.9 ME, with a reduced margin from 40.4% to 33.7%.
In this context, flatexDEGIRO confirms its orientations for the year with an expected adjusted turnover of 380 million euros and an adjusted EBITDA margin above 40%.
‘Our clients’ assets have grown by an average of almost 1.5 billion euros per month. And every month, our clients have brought nearly €500 million of new capital to our platform,” says Frank Niehage, CEO of flatexDEGIRO.
According to him, if we consider the increase in the value of securities portfolios as a performance indicator, ‘the figures indicate that clients have been able to increase their wealth by an average of around 14% over the last six months’.
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