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

flatexDEGIRO SE

Wed 17:11

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: ID:nEQ8ZV82ga

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

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(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.)