DGAP-News: FinTech Group raises EBITDA margin target for 2019 from 27% to 29%
DGAP-News: FinTech Group AG / Key word(s): Quarterly / Interim Statement/Change in Forecast
Corporate News / Frankfurt am Main, May 13, 2019
FinTech Group raises EBITDA margin target for 2019 from 27% to 29%
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- More than 14,500 new flatex customers since the beginning of the year (+27% year-on-year)
- Cash/ETP transactions in current Q2 2019 already 28% up year-on-year
- Netherlands market entry in May with significantly lower costs than expected
"We are delighted that our customer base in Germany and Austria is growing continuously. Even more important than the number of new customers, however, is the fact that the transaction activity of new customers is still high. Despite a significantly less volatile beginning of the year compared to 2018, above-average transaction figures have been recorded.", says Frank Niehage, CEO of FinTech Group AG, in a very positive mood.
With businesses in Germany and Austria performing extremely well, market entry in the Netherlands is in the starting blocks. Together with selected product partners (including Goldman Sachs, BNP Paribas and Vontobel) flatex plans to go live in May. The aim is to win at least 20,000 customers in the Netherlands this year. Market entry and marketing costs are significantly lower than management's original expectations, a main reason for raising the EBITDA margin target.
"In recent months, we have prepared and implemented the market launch in the Netherlands very efficiently. Our previously assumed investment and marketing costs have been and will be significantly lower than expected, so that the expected EBITDA margin for 2019 will be raised from 27% to 29%. The reason is our excellent platform which allows a quick and cost-saving roll-out into new countries.", emphasized Muhamad Chahrour, CFO of FinTech Group AG.
Many B2B customers, the state infrastructure and established financial services companies as well as disruptive business ideas benefit from FinTech Group's white label banking technology and become quickly successful businesses due to the self-developed core banking system (FTG:CBS) that belongs to the most modern and most modular systems in the market - the standard platform for private and specialist banks. In times of bank consolidation, low interest rates and digitalisation, FinTech Group is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.
13.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||FinTech Group AG|
|60327 Frankfurt / Main|
|Phone:||+49 (0) 69 450001 0|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||810125|
|End of News||DGAP News Service|