flatexDEGIRO expects full year revenues 2022 to amount to approx. EUR 380 m (+/- 2%) with an Adj. EBITDA margin of approx. 37% (+/- 1%point) Corporate Governance strengthened by appointing two additional members to the Management Board of flatexDEGIRO AG Current Group CFO, Muhamad Chahrour, to transition to Deputy-CEO and Chief Operating Officer Special BaFin audit requires resolution of organizational and procedural shortcomings after rapid growth and temporary capital surcharges
Frank Niehage, CEO of flatexDEGIRO AG: ?External factors have turned trading activity of retail investors from record highs at the beginning of 2021 to record lows in 2022, making it the most challenging year for the online brokerage industry in Europe. However, even in this most unfavorable environment, we expect to deliver in 2022 the highest EBITDA and net income ever, supported by our strong and cost-efficient business model and by optimized monetarization. Rising interest rate levels will contribute strongly to next year?s net income and with further tailwinds from already initiated operational initiatives, we are very confident to continue our profitable growth in 2023 and beyond.?
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