FLATEXDEGIRO $FTK

Flatex has published its monthly statistics for the month of May 2024.

They continue to be positive months for the company:

👉Acquisition of 28 thousand clients in the month. Less than in April, which was 30 thousand (-5%), but better than the same month of the previous year, which was 25 thousand (+13%).

👉Higher volume of daily operations than the previous month (+1%) and the previous year (+17%). Little by little they are improving the volume of operations per client (cyclical part of the business).

👉The AUC (assets in custody), the clients' cash and what is better, the margin Loans increase. The increase in the month of €100M (from €1,000M to €1,100M) implies (rounding up) an additional €7M of financial income per year (compared to April).

Therefore:

➡️Improve the structural part (platform growth)

➡️Conjunctural improvement for 2 legs --> 1) Improvement in the volume of operations and 2) improvement in interest income

🟰The results of the second quarter aim to be record (and with a better comparison due to how bad they were the previous quarter).

The very solid evolution of the business continues.