DGAP-News: FinTech Group AG Reports Strong Half-Year Results


DGAP-News: FinTech Group AG / Key word(s): Half Year Results
FinTech Group AG Reports Strong Half-Year Results

30.09.2016 / 06:28
The issuer is solely responsible for the content of this announcement.

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FinTech Group AG Reports Strong Half-Year Results


  - EBITDA of EUR 13.8 million in the first half of 2016

  - 2016 guidance confirmed, 2017 forecast positive

  - New products and partnerships will increase profitability in the second
    half of the year even further

  - FinTech Group will switch to registered shares on Oct. 17 (new ISIN:
    DE000FTG1111, new German WKN: FTG 111) and aims to uplist to the Prime
    Standard in 2017

Frankfurt, Germany - FinTech Group AG (WKN 524 960, ISIN: DE0005249601,
Ticker Symbol: FLA.GR) achieved Earnings Before Interest, Taxes,
Depreciation, and Amortization (EBITDA) of EUR 13.8 million and revenues of
EUR 48.4 million. With those numbers, FinTech Group is fully on track and
confirms its guidance of an expected EBITDA at between EUR 30-35 million
for the full year of 2016. Many positive developments and partnerships that
have been launched in the first half year, will fully contribute to the
earnings on a recurring basis from the second half year on: the new "flatex
flex-credit" will have a significant positive impact and the exchange
traded products issued jointly with Morgan Stanley will further increase
profitability going forward. In addition, B2B business continues to be very
strong.

FinTech Group's other key performance indicators (KPIs) have also risen
significantly: In comparison to the first half of the previous year, assets
under administration increased by 66% to EUR 9.4 billion. The main factor
driving this substantial rise in AuA was the addition of a new customer,
Equatex, which administers share participation and compensation plans for
more than 300,000 employees of German companies. The number of securities
transactions executed via the highly-automated systems of the subsidiary
Bank biw AG increased by more than 3%, to approximately 5 million as
compared to the first half of last year. FinTech Group AG plans to become
Germany's largest executor of securities transactions.

In the first half of 2016, the high-margin "Securities Trading & Financial
Services" segment, which includes the online brokers flatex and ViTrade,
achieved EBITDA of EUR 7.4 million and revenues of EUR 11.6 million. Since
the end of 2015, the number of flatex clients in Germany and Austria again
increased by approximately 11,000, to more than 161,000, which equals an
annualized rate of about 15%. Newly launched products have been met with
strong demand. This is true for both the ETPs issued jointly with Morgan
Stanley under the "flatex" brand and launched mid-year as well as the new
"flatex flex-credit" launched in April. Moreover, flatex' European
expansion is in full swing.

The "Transaction Processing & White-Label-Banking Services" segment, which
includes IT system providers XCOM AG and Bank biw AG, achieved EBITDA of
EUR 12.3 million and revenues of EUR 36.5 million in the first half of
2016. Demand for B2B services was strong throughout the year, and further
increased as a result of potential "Brexit" as many London-based banks
might need operations in continental Europe/Germany. On the back of the
excellent market positioning, important new partnerships as the one with
Rocket Internet SE, with whom FinTech Group plans to create a digital
European bank, have been sealed.

Frank Niehage, CEO of FinTech Group AG: "We were able to further increase
profitability significantly, and we still see great potential to improve
our margins, leverage synergies, and scale up our business. Our unique
combination of strong B2C and strong B2B business means that we are not
only well-diversified, but also that the interplay of these two segments
will lead to a unique growth cycle since it allows us to develop and
profitably market disruptive solutions. In light of this, we continue to
expect that our EBITDA in 2016 will be EUR 30-35 million, and we are
confident that we can increase our EBITDA once again in 2017."

On Oct. 17, FinTech Group will switch its stock's listing to registered
shares from bearer shares as has been decided at the annual general
meeting. The International Securities Identification Number (ISIN) and the
German securities number (WKN) will be changed as part of the process: The
new ISIN will be DE000FTG1111 and the new German WKN will be FTG111. For
2017, FinTech Group is also aiming for an uplisting to the Prime Standard
of Deutsche Börse.



About FinTech Group AG

FinTech Group AG (WKN: 524 960, ISIN: DE0005249601, Ticker Symbol: FLA:GR)
is one of the most significant innovative financial technology companies in
Europe. Our B2C brands service a total of 200,000 private clients.
Likewise, our B2B business lines are important technology partners for
German and international banks and financial institutions.

Our preliminary EBITDA 2015 is EUR 19 million. Our wholly owned subsidiary
flatex GmbH has been one of the innovation leaders in the German online
brokerage market for years. About 150,000 private clients both in Germany
and internationally have chosen flatex' clear and transparent pricing
model.

XCOM AG, in which we hold a majority interest, was founded in 1988 and is a
German pioneer in the area of financial technology. Today, XCOM AG is one
of the most successful software and technology providers for banks and
financial institutions.

biw Bank für Investments und Wertpapiere AG, which is also belongs to
FinTech Group, has a full-service banking license and is the group wide
backbone of our banking services. It also serves as outsourcing partner for
other well-known banks ("white label banking services") and is one of the
most modern online banks in Europe.

FinTech Group AG is also an important partner for many young fintech
companies in the up-and-coming
German start-up scene, who benefit from our innovative profile.



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
Roman.kessler@fintechgroup.com
Head of Communications
FinTech Group AG
Rotfeder-Ring 5
D-60327 Frankfurt/Main
+49 (0) 69 450001 041
Roman.kessler@fintechgroup.com


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30.09.2016 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.

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   Language:    English                                                     
   Company:     FinTech Group AG                                            
                Rotfeder-Ring 5                                             
                60327 Frankfurt am Main                                     
                Germany                                                     
   Phone:       +49 (0) 69 450001 041                                       
   E-mail:      ir@fintechgroup.com                                         
   Internet:    www.fintechgroup.com                                        
   ISIN:        DE0005249601, DE0005249601                                  
   WKN:         524960                                                      
   Listed:      Regulated Unofficial Market in Berlin, Dusseldorf, Munich,  
                Stuttgart, Tradegate Exchange; Open Market (Entry           
                Standard) in Frankfurt                                      
 
 
   End of News    DGAP News Service  
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507535 30.09.2016