31.03.2017
FinTech Group AG DE000FTG1111
DGAP-News: FinTech Group Beats Expectations, Raises 2017 Guidance
DGAP-News: FinTech Group AG / Key word(s): Final Results
FinTech Group Beats Expectations, Raises 2017 Guidance
31.03.2017 / 07:09
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Corporate News / Frankfurt, Germany, 31 March 2017
FinTech Group Beats Expectations, Raises 2017 Guidance
* Net Profit of 12.3m EUR (2015: -2.2m EUR)
* EBITDA increases by 55% to 30.6m EUR (2015: 19.7m EUR)
* Revenues up by 27% to 95m EUR (2015: 75.0m EUR)
* Increase of 2017 net profit guidance
Frankfurt, Germany - FinTech Group AG (German WKN: FTG111, ISIN:
DE000FTG1111, Ticker: FTK.GR) achieves record results: The net profit for
the financial year 2016 jumped to 12.3m EUR (2015: -2.2m EUR), exceeding
analysts' expectations. Both the organic growth of the B2C-subsidiary flatex
as well as attractive and long-term new B2B mandates have contributed
significantly to the success of FinTech Group AG during 2016.
Earnings before interest, taxation, depreciation and amortization (EBITDA)
rose strongly by 55% to 30.6m EUR (2015: 19.7m EUR), meeting the
management's guidance. Revenues increased by 27% to 95m EUR (2015: 75.0m
EUR).
Additionally, FinTech Group increases its net profit guidance for the
financial year 2017 to 16.8m EUR (previous estimate: 15.1m EUR). This equals
earnings per share (EPS) of 1.00 EUR (previous estimate: 0.90 EUR). The
increase is based on a strong first quarter of this year. Additionally, the
previously announced "5 to 2" strategy - to reduce five operating entities
to two; a fin and a tech entity - further leverages synergies and reduces
administration expenses already in the current year.
"Last year was the most successful year in the history of FinTech Group and
confirms the repositioning in 2014 and 2015 as well as the expansion of the
FinTech Group through the acquisition of the XCOM Group in 2015. The demand
for our FinTech-expertise remains high and ensures profitable organic growth
in both business segments. We believe that we are just at the beginning of
the disruption phase of traditional banking business and hence expect this
development to continue for several years. We help many established banks to
rebuild their IT-landscape as well as younger, new players to enter the
market. Especially those customers in the Transaction Processing & White
Label Banking Services segment usually have very long-term contracts," said
Frank Niehage, CEO of FinTech Group AG. "Furthermore, we are very proud that
we have met our guidance for the second time in a row."
The segment "Transaction Processing & White-Label-Banking Services", which
includes IT system providers XCOM AG and Bank biw AG, achieved revenues of
70.8m EUR (2015: 45.2m EUR) and EBITDA of 28.3m EUR (2015: 8.4m EUR). The
strong increase is mainly due to the realignment of the B2B business, which
helped to acquire new profitable, long-term mandates. Furthermore, synergies
from the integration of XCOM, as well as income from the transaction
processing and settlement of the flatex and ViTrade brokerage business, had
a significant contribution to the results of this segment.
The segment "Securities Trading & Financial Services", which includes the
online brokers flatex and ViTrade, achieved revenues of 19.4m EUR (2015:
28.5m EUR) and EBITDA of 11.9m EUR (2015: 19.7m EUR). The decrease in EBITDA
against the level of 2015 is attributable to a double-digit million euro
one-off income in 2015 due to the out-licensing of the CFD business.
Adjusted for the one-off effect, the segment showed above average growth.
The growth of this segment is also partly reflected in the figures of the
segment "Transaction Processing & White Label Banking Services", which
settles the transactions of flatex and ViTrade.
Compared to the previous year, the number of flatex customers rose by 17% to
more than 175,000 as of Dec. 31, 2016. The number of transactions increased
by 7.2% to 7.7m EUR in the same period. The segment had a very positive
start into 2017. In the first quarter 2017, more than 12,000 new customers
have joined flatex.
"We have started to harvest the results of our realignment. As previously
announced, we also expect a further high, annual reduction of administration
expenses - notably through the efficiency strategy '5 to 2', which has
already kicked off and will reduce the number of our operating entities from
five to two. Although from now on our main focus will be on revenue growth,
we will also keep increasing our efficiency and cost leadership constantly,"
said Muhamad Chahrour, CFO of FinTech Group AG.
The combined EBITDA of both segments amounted to 40.2m EUR in 2016, versus
central costs and consolidation effects of -9.6m EUR. The latter were mainly
caused by the centralization of executive departments (Finance, Legal,
Compliance, HR, Procurement etc.), due to the regulatory status of FinTech
Group AG as the superordinate entity.
The full annual report 2016 will be published in April in German and
English. Preliminary unaudited figures are published on
www.fintechgroup.com.
About FinTech Group AG
FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) is a
modern smart bank: We offer innovative financial technology, our own core
banking system, and a regulatory liability umbrella.
Our cash cow is retail broker flatex which, through our advanced technology,
can offer top-quality service at an affordable price. This makes flatex the
fastest growing trading platform in Europe.
Our smart technology is easy to scale, so we also successfully offer it to
B2B customers. We provide vital services for many well-known institutions
and even state infrastructure. We help start-ups and disruptive business
ideas that require a banking license to rapidly become a success through our
white label banking.
In a time of bank consolidation, low interest rates, and digitization we are
ideally positioned for further growth.
Our goal is to become Europe's leading provider of financial technology.
Disclaimer
This release may contain forward-looking statements and information, which
may be identified by formulations using terms such as "expects", "aims",
"anticipates", "intends", "plans", "believes", "seeks", "estimates" or
"will". Such forward-looking statements are based on our current
expectations and certain assumptions, which may be subject to variety of
risks and uncertainties. The results actually achieved by FinTech Group AG
may substantially differ from these forward-looking statements. FinTech
Group assumes no obligation to update these forward-looking statements or to
correct them in case of developments, which differ from those anticipated
Contact:
Roman Kessler
Head of Communications
FinTech Group AG
Rotfeder-Ring 5
D-60327 Frankfurt/Main
+49 (0) 69 450001 041
[email protected]
---------------------------------------------------------------------------
31.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: FinTech Group AG
Rotfeder-Ring 5
60327 Frankfurt am Main
Germany
Phone: +49 (0) 69 450001 041
E-mail: [email protected]
Internet: www.fintechgroup.com
ISIN: DE000FTG1111, DE0005249601
WKN: FTG111
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange; Open
Market (Scale) in Frankfurt
End of News DGAP News Service
---------------------------------------------------------------------------
560503 31.03.2017
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
FinTech Group AG ISIN: DE000FTG1111 können Sie bei EQS abrufen
FinTech , FTG111 , FTK , XETR:FTK