flatexDEGIRO reports sales of 123 ME for Q1 2024, reflecting a 25% increase in activity compared to the same period a year earlier.

At the same time, EBITDA more than doubled to 53.6 ME (+177%), with an EBITDA margin of 43.6% versus 19.7% twelve months earlier.

The broker recorded net earnings of 30 ME, a figure more than quadrupled in the space of a year (+ 340%).

At the end of the first quarter, flatexDEGIRO had 2.81 million customers, up 12.4%, with 121,000 gross new accounts (+7.8%).

On the basis of current developments, management expects revenues and consolidated net income for 2024 to be at the top end of its forecast range. As a reminder, at the beginning of the year, flatexDEGIRO had forecast sales growth of between 5% and 15%, and consolidated net income growth of between 25% and 50%.

The broker remains cautious, however, citing uncertainties linked to growing geopolitical tensions, as well as the lack of visibility regarding interest rate trends among the world's central banks.


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