flatexDEGIRO
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flatexDEGIRO (FTK) investor relations material

flatexDEGIRO Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary23 Apr, 2026

Executive summary

  • Achieved record Q1 2026 results with revenues up 19% year-over-year to EUR 174 million and net income reaching EUR 54 million, driven by increased transaction volumes, new product launches, and strong scalability.

  • Settled trades rose 17% year-over-year to 22.7 million, supported by elevated market volatility and a 12% larger customer base.

  • New products, including crypto trading, securities lending, and stock savings plans, contributed to revenue growth and future positioning.

  • Hamburg Commercial Bank became the first Deposits as a Service client, and a new BPO client was launched.

  • Operating expenses increased, mainly due to higher marketing spend, while personnel expenses declined year-over-year.

Financial highlights

  • Revenue grew 19% year-over-year to EUR 174 million, with commission income up 18% to EUR 116 million and interest income up 14% to EUR 49 million.

  • Net income reached EUR 54 million, up 28–35% year-over-year, marking a new quarterly record.

  • EBITDA rose 26% year-over-year to EUR 87 million, with an EBITDA margin of 50.2%.

  • Net cash inflows totaled EUR 3.1 billion, with 98% reinvested into securities.

  • Assets under custody increased 18–24.8% year-over-year to EUR 94.5 billion; cash under custody grew 38% to EUR 6.4 billion.

Outlook and guidance

  • 2026 guidance confirmed: revenue expected to grow 5–10% to EUR 588–616 million and net income 5–15% to EUR 168–184 million.

  • 2027 outlook targets revenue of EUR 650 million and net income of EUR 200 million.

  • Management remains cautious on trading activity due to tough comparables and market uncertainties but is confident in full-year targets.

Impact of 2025 Liberation Day on April 2026 comps
Treasury book growth impact on interest income
Personnel cost impact from Bulgaria Euro entry
Reasoning for higher CAC despite lower growth
Interest income drivers in low rate environment
Growth outlook for Deposits as a Service
Strategy to improve marketing efficiency
Impact of German pension reform on 2027 growth
Treasury strategy to mitigate rate volatility
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Q2 202622 Jul, 2026
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Q2 202622 Jul, 2026

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