German brokerage flatexDEGIRO's prelim Q3 net profit rises; plans EUR 100 mln buyback

By Reuters News


Overview

  • Germany online brokerage's preliminary Q3 revenue rose 14% yr/yr to EUR 150 mln

  • Preliminary net profit up 29% to EUR 50 mln, driven by strong net interest income

  • Company plans share buyback program of up to EUR 100 mln, pending regulatory approval


Outlook

  • flatexDEGIRO reiterates 2026 revenue outlook of about EUR 650 mln

  • Company expects 2026 net profit between EUR 200 mln and EUR 230 mln

  • Company says outlook supported by growing client assets and strategic growth initiatives


Result Drivers

  • NET INTEREST INCOME - Co said strong net interest income, supported by higher customer deposits, favorable interest rates, and increased margin loan demand, was a key driver of Q3 results

  • BROKERAGE ACTIVITY - Growth in settled transactions and commission income contributed to Q3 performance, per CEO Dr. Benon Janos

  • CLIENT ASSETS - Increase in assets under custody and net cash inflows supported revenue growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 150.3 mln

EUR 151.03 mln (2 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the investment banking & brokerage services peer group is "buy"

  • Wall Street's median 12-month price target for flatexDEGIRO SE is €44.00, about 81.4% above its October 20 closing price of €24.26

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Oct 20 - Germany's Deutsche Boerse Q3 net revenue rises, lifts FY outlook

  • Oct 20 - Adidas prelim Q3 operating profit rises as full-price sales support gross margin gains


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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