FinTech revealed today its preliminary H119 figures, posting an increase in revenues to €64.3m from €58.5m and EBITDA at €19.7m versus last year’s €18.4m. FinTech highlights it achieved the growth on the back of the positive performance of flatex (its online brokerage business) despite lower market volatility in H119 versus H118 and a one-off investment due to market entry into the Netherlands.
In the period, flatex (Fintech’s subsidiary) attracted a record high number of 22k new customers in Germany and Austria and acquired more than 2.5k clients in the Netherlands in the first four weeks after the market entrance. FinTech is currently preparing to enter Spain, which is planned for Q419. The company states this the next step in adopting its strategy to develop the leading pan-European online broker over the next years.
FinTech expects a stronger H219 performance and guides to FY19 EBITDA margin of 31% compared to the previous guidance of 29%.
Muhamad Chahrour, FinTech’s CFO, commented that ‘The efficiencies result from increasingly leveraging our internal synergies between the B2B and the B2C business.’