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flatexDEGIRO (FTK) investor relations material
flatexDEGIRO Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record financial results in 2025, with revenues up 17% to €560 million and net income up 44% to €160 million, both exceeding guidance, driven by strong customer growth, high net cash inflows, and robust trading activity.
Customer base expanded by 13% to 3.5 million, with over 1 million active customers and 446,000 new accounts added.
Major product rollouts included crypto trading, securities lending, and business process outsourcing, with strategic focus on growth, efficiency, and leveraging AI for operational improvements.
Platform stability and scalability enabled outperformance during periods of extreme market activity, with no service disruptions.
Focus for 2026 includes expanding the German business, preparing for pension reforms, and further product innovation.
Financial highlights
Full-year 2025 revenues reached €560 million (+17% YoY); net income €160 million (+44% YoY), both at the top end of upgraded guidance.
EBITDA hit €267.7 million (47.8% margin), net income margin improved to 29%.
Net cash inflows for 2025 totaled €8.1 billion (+22% YoY), with 79% invested into securities.
Commission income grew 31% YoY to €369 million; average commission per transaction rose to €4.90.
Assets under custody grew 34% to €95.5 billion; settled transactions increased 19% to 75 million.
Outlook and guidance
2026 revenue guidance: €588–616 million (5–10% growth); net income: €168–184 million (5–15% growth).
2027 targets reiterated: €650 million revenue, €200 million net income.
Guidance assumes stable commission per trade, slightly lower trading activity, modest cost increases, and continued product innovation.
Interest income expected to grow slightly, with stable margin loan book and treasury book exceeding €1 billion.
Increased marketing spend focused on Germany; cost base to rise moderately.
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Frequently asked questions
European Online Broker
FlatexDEGIRO is a European online brokerage, resulting from the merger of Flatex and DEGIRO. The platform facilitates the trading of a diverse range of financial instruments, from stocks and ETFs to bonds and derivatives, across multiple international exchanges. Recognized for its user-friendly interface and transparent fee structure, FlatexDEGIRO caters to both novice and seasoned investors, striving to provide efficient and informed trading and investing.
A Merger of Two Brokers
FlatexDEGIRO's origin can be traced back to two separate entities: Flatex from Germany and DEGIRO from the Netherlands. Flatex was focused on providing an online brokerage for investors, while DEGIRO initially aimed at catering to professional clients but soon expanded its reach to retail customers. The two firms' paths converged in 2019 when Flatex announced its plans to acquire DEGIRO. By 2021, the acquisition was complete, leading to the formation of flatexDEGIRO, which now has over two million clients across 18 European countries.
The Platform
The company’s platform enables customers to trade a vast assortment of financial instruments. Investors can access stocks, ETFs, bonds, and derivatives from more than 50 exchanges worldwide and the platform's design makes it easy for both novice and seasoned investors to navigate and execute trades with ease. Its transparent fee structure stands out, often boasting low or even commission-free trades, making it cost-effective for regular traders. FlatexDEGIRO also provides real-time market data, ensuring investors are equipped with current information when making investment decisions or when checking in on their portfolios. Some publicly traded peers to FlatexDEGIRO include names such as Avanza, Nordnet, and Interactive Brokers.
Additional Services
FlatexDEGIRO offers more than just a trading platform. Recognizing the importance of informed decision-making, the company provides an array of educational resources. Clients can access webinars, tutorials, e-books, market news, and analytical reports. These resources aim to enhance users' understanding of the market and refine their investment strategies. For individuals looking for a hands-off investment solution, flatexDEGIRO offers a robo-advisory service. This tool uses algorithms to develop a portfolio based on the client's financial objectives and risk tolerance.
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