flatexDEGIRO Starts 2026 with a Record Quarter

flatexDEGIRO, one of Europe's largest online brokerage platforms, posted its strongest quarter on record for the first three months of 2026. The company reported preliminary unaudited revenue of EUR 174 million for Q1 2026, a 19% increase over the EUR 146 million posted in the same period last year. Net income rose 28% to EUR 54 million, marking the first time the company has surpassed EUR 50 million in quarterly profit.

Revenue growth was driven by increases in both commission and interest income. Commission income climbed 18% to EUR 116 million, supported by a 17% rise in settled transactions to 22.7 million. The average commission per transaction edged up from EUR 5.02 to EUR 5.09. Interest income gained 14% to EUR 49 million, as higher customer cash balances, expanded margin lending and active treasury management offset the impact of a lower interest rate environment. Other operating income nearly doubled to EUR 9 million, helped by the company's Deposits as a Service business, which added Hamburg Commercial Bank as its first external client in Q1.

Operating expenses rose 13% to EUR 63 million, a slower pace than revenue growth, despite a 76% surge in marketing spend to EUR 21 million. Personnel expenses fell 10% to EUR 29 million. The improved cost leverage pushed the net income margin to 31%, up from 29% in the prior-year quarter.

CEO Oliver Behrens said the record profit reflects the success of the company's strategic focus on both active traders and long-term investors, noting the expansion into crypto trading and the introduction of stock savings plans in Germany and Austria. Crypto trading volume reached nearly EUR 500 million in Q1, up from under EUR 100 million a year earlier, with around 50,000 clients executing more than 230,000 crypto trades.

The company confirmed its full-year 2026 guidance, expecting revenue growth of 5-10% to between EUR 588 million and EUR 616 million, and net income growth of 5-15% to between EUR 168 million and EUR 184 million. It also reiterated its 2027 medium-term target of around EUR 650 million in revenue and EUR 200 million in net income.

Customer accounts rose 3% from year-end 2025 to 3.58 million, with 123,000 net new accounts added in the quarter. Net cash inflows totalled EUR 3.1 billion, while assets under custody stood at EUR 94.5 billion as of end-March.