FlatexDEGIRO on Track for Record Year with Strong Q2 2024 Performance

flatexDEGIRO AG has reported a substantial Q2 2024 performance, placing the company on track for a record year. Revenues surged by 31% year-over-year to €119 million, driven by a 25% increase in commission income and a 47% rise in interest income. The strong revenue growth results from a growing customer base and favorable trading and interest environments.

EBITDA increased by 82% to €53 million, while net income jumped by 133% to €31 million. The company added 205,900 new customer accounts in H1 2024, reaching a total customer base of 2.88 million. Net cash inflows also grew by 14% to €3.25 billion in H1 2024.

Operationally, customer assets under custody expanded by 18.1% to €61.11 billion. The scalability of the business model has been emphasized, contributing to significant top-line and net income growth. Management remains confident about hitting the upper end of their revenue and net income guidance for 2024.