flatexDEGIRO Sees 60% Jump in 2021 Revenues

flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest and fastest-growing retail online broker, today published its preliminary figures for 2021, marking another record year for the company. The year finished for flatexDEGIRO with the final quarter showing the highest level of revenues per trade in the whole of 2021. With an optimized pricing structure at DEGIRO, including commission-free trading in some of the most important markets and products, and the enhanced usability of its trading app following the launch of 'next 3.0', management aims at further accelerating the company's growth and significantly increasing this year's revenues and EBITDA. At the end of 2021, the number of flatexDEGIRO customer accounts amounted to 2.06 million, an increase of 55 percent compared to the 1.33 million customer accounts reported in the previous year.

Last year, flatexDEGIRO settled 91 million transactions for its customers (2020, pro forma: 75 million), more than any other European online broker. Assets under Custody at the end of 2021 amounted to EUR 43.9 billion, an increase of EUR 12.1 billion or 38 percent over the course of twelve months (31 Dec 2020: EUR 31.8 billion). Revenues increased in 2021 by 60 percent to EUR 418 million (2020: EUR 261 million). Due to the strong operating leverage of the online brokerage business, Adj. EBITDA before marketing expenses increased by EUR 85 million to EUR 223 million (2020: EUR 138 million), leading to an increase of its margin to 53.4 percent (2020: 52.9 percent).

Frank Niehage, CEO of flatexDEGIRO: "We have once more proven our ability to combine growth with profitability. We won a record number of over 730,000 new customer accounts in 2021. This brings us close to the growth all our major listed peers in Europe have shown combined! At the same time, we have steadily increased the monetization of trades every quarter this year, leading to a margin increase as well. This success also demonstrates the maintained high quality of our customer base throughout this tremendous phase of growth. The optimization of our pricing structure at DEGIRO, the international roll-out of our ETP partnerships with BNP Paribas and Société Générale and the introduction of early & late trading across Europe via Tradegate; all this should lead to a very visible further improvement of our performance in 2022."

To drive the acceleration of current and future customer growth, flatexDEGIRO has almost doubled its marketing efforts in 2021, investing a total of EUR 46 million (2020: EUR 24 million). With efficient and focused spending the company nevertheless kept relative customer acquisition costs at a low EUR 58 per new customer account (gross) in 2021 (2020: EUR 50). Furthermore, these marketing investments already include expenses for flatexDEGIRO's documentary "True Stories of Investing", which premiered end of January 2022, as well as for related marketing campaigns during the first half of 2022.