? Trading with 100% success rate?

Last Updated: 27. November 2023By

Every trade a hit. If this is your dream too, then you should open a broker account – or invest in one. Companies like flatexDEGIRO always benefit. Reason enough to take a closer look at the value. The flatexDEGIRO AG was founded in 1999 as PRE.IPO AG and today has 10 locations in Germany as well as one location each in Bulgaria, Austria and the Netherlands. Co-founder was the owner of the Börsen-medien AG and publisher of the Börsenbrief Der Aktionär Bernd Förtsch. flatexDEGIRO earns its money with brokerage-free securities transactions, commissions, fees and interest.

The numbers speak The flatexDEGIRO presented mixed figures for the first 9 months. Sales decreased slightly by 3.7% to 290.5 million euros. Adjusted sales increased slightly by 3.4%. EBITDA decreased significantly by 30.2% to 88.5 million euros. flatex benefited from significantly higher deposit interest rates at the ECB and higher interest rates for securities loans at flatex.

The commissions per transaction have increased slightly to 4.14 euros. The result was adversely affected by a fine of 4 million euros imposed by the Italian competition authority. However, legal proceedings are still pending in this regard. Operationally it went well. The increase in customer accounts was around 263,000. The customer base increased by 9.6% to 2.63 million.

This makes flatex stand out in the industry. The growth rate of the comparison companies was only 5.4% on average. The growth rate of flatex was 1.8 times as high. Despite many new customers, 18.7% fewer transactions were processed. The value of client assets increased by 19% to 47 billion euros. The BaFin has approved the re-application of credit risk mitigation techniques (CRMT) for DEGIRO securities loans.

This is how we think about the stock This leads to an immediate reduction of the risk-weighted assets and provides more flexibility. The CEO Frank Niehage recently stated that an external takeover of flatex to be part of a larger company would make a lot of sense.

We will have to wait and see when these plans become more concrete. Until then, the stock is a wait-and-see position for us. There is also no dividend to lure us. However, once the stock market starts to rise again, the stock could also become interesting again.