DGAP-News: FinTech Group AG / Key word(s): Forecast Corporate News / Frankfurt am Main, 12 December 2017 FinTech Group expects 40% growth in 2018 net profit
Frankfurt, Germany - The FinTech Group AG (German WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) re-confirms its guidance for 2017 and is projecting significant gains in revenues and profit: In 2018, the executive board expects revenues of at least 120M EUR, earnings before interest, taxes, depreciation and amortization (EBITDA) of 40M EUR and a net profit of 24M EUR. After a successful second half, the executive board also confirmed its 2017 guidance for revenues of more than 100M EUR and net profit of more than 16.8M EUR. "In 2017, we have successfully concluded the Group's realignment and integration strategy and paved the way towards strong growth. This justifies our conservative ambition for +20% revenues, +30% EBITDA, and +40% net profit," says FinTech Group CEO Frank Niehage. "Furthermore, our online broker flatex is expected to add at least another 30,000 customers in Germany and Austria combined, following a record year in 2017. We are also examining the possibility of entering another European market next year. In the B2B business, our core banking solution FTG:CBS, the standard platform for private and specialized banks, is one of the most modern in Europe and we have received strong demand throughout the industry. We expect that four to six new B2B clients will choose in 2018 to utilize our platform and operate on FTG:CBS." Record marks in the B2C business secure strong market position
FinTech Group executed more than 1M transactions during the month of November, marking a historic high, driven largely by continued growth in its user base. By year-end, the Group is likely to execute a total of 12M (FY16: 10.5M) transactions across all business lines and to further expand its current market share of c. 25% in Germany and c. 50% in Austria. Since the beginning of 2017, flatex has won more than 35,000 customers and welcomed its 200,000th customer in October. The high demand for ETPs marketed under its own brand 'flatex select' and issued by Morgan Stanley has been a significant driver of growth. Also, the company's collateralized credit book should reach 200M EUR by the end of 2017 - almost doubling from 2016. In 2006, flatex became one of the first FinTechs to introduce a digital flat fee. Today, numerous independent reviews demonstrate that our user experience (UX) and user interfaces (UI) are best in class - whether provided via our mobile services or on our online platform. Our state-of-the-art, proprietary platform lets us respond instantly and at any time to changing markets and client needs. That's how flatex is able to offer our B2C clients the best platform with the best products at the best prices. What's more, our smart technology offers easy scalability - which is why we've been so successful at offering it to B2B clients: The FinTech Group Core Banking System (FTG:CBS) is the standard platform for private and special purpose banks. The FTG:CBS provides technological and regulatory banking processes at prices which are 30% lower than average. As a full-service solution, it provides the roughly 500 private and special purpose banks in Germany the kind of technological leap that lets them improve profitability and ensure long-term viability. We deliver vital services in the B2B sector for many well-known institutions and even government organizations. We also help startups and innovative entrepreneurs in need of banking licenses achieve success quickly through our white label banking services.
Contact: Roman Kessler Head of Communications FinTech Group AG Rotfeder-Ring 5 D-60327 Frankfurt/Main +49 (0) 69 450001 041 Roman.kessler@fintechgroup.com
12.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | FinTech Group AG |
Rotfeder-Ring 5 | |
60327 Frankfurt am Main | |
Germany | |
Phone: | +49 (0) 69 450001 041 |
E-mail: | ir@fintechgroup.com |
Internet: | www.fintechgroup.com |
ISIN: | DE000FTG1111, DE0005249601 |
WKN: | FTG111 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
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