wallstreet: online: Smart brokers as earnings drivers

In the first half of the year, sales at wallstreet: online group rose by more than 91 percent to 11.9 million euros. The pre-tax profit increased from 3.28 million euros to 3.58 million euros.

The company’s focus these days is on the smart broker. The w: o portals are used to place appropriate advertising. They want to increase the number of custody accounts and invest an amount in the millions. This is reflected in the result.

Due to the good development in the first half of the year, the Berliners have increased the forecast for 2020. For the year as a whole, wallstreet: online is expecting sales of EUR 24.5 million to EUR 29.9 million (old: EUR 22.0 million to EUR 26.0 million). The EBITDA is seen at 4.1 million euros to 5.0 million euros (old: 3.0 million euros to 3.6 million euros). This does not include an extraordinary income of 2.7 million euros, which was achieved with the sale of the shares in Trade Republic Bank.

The GBC analysts expect sales of 29.25 million euros and an EBITDA of 7.3 million euros for 2020. In 2021 the values ​​are expected to be 40.6 million euros and 11.08 million euros respectively.

The smart broker is important for future development. Here, 83,000 depots are now expected for 2020, which is well above the 60,000 depots previously forecast. From 2022, the broker is expected to become the company’s sales and profit driver.

The analysts confirm the buy recommendation for the shares of wallstreet: online. The price target for the papers of w: o increases from 95.00 euros to 120.00 euros.

The shares of wallstreet: online gain 3.0 percent to 88.60 euros.


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