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FinTech Group (FTK)

Business description

FinTech Group (FTG) is an integrated online brokerage business. It is divided into two business areas – a technology business and a financial services business that includes a bank and a brokerage business.

Stock data

Market cap.€303.5m
Last close€16.20
High / Low (52 weeks)€35.8 / €16.2
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(21)(41.5)(46.9)
Relative *(16.8)(34.3)(35.4)

* % Relative to local index

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Company news

Investment summary

FinTech Group’s (FTG’s) proposed banking joint venture (JV) with Austrian Post has been abandoned in accordance with the feedback of the relevant regulatory bodies that the approval of a new banking licence might take between one and a half to two years. This supports FTG’s near-term earnings and leaves the business focused on its online brokerage activities. Meanwhile, 10-month KPIs indicate the brokerage business continues to perform well, with trades up 16% over the corresponding 10-month period. High-margin OTC products jumped 34% and represent c 25% of the total. In the wake of the recent de-rating, the shares look increasingly attractive on c 11x consensus FY19 earnings.

Last updated on 07/12/2018

Key management

Frank Niehage, CEO
Muhamad Said Chahrour, CFO
Roman Kessler, Head of Corporate Communications

Company address

Rotfeder-Ring 5
Frankfurt am Main
60327
Germany
+49 (0) 9221 7035 236
View website