flatexDEGIRO AG

Ladies and gentlemen, hello and welcome to the FLATx D0 2022 preliminary figures analysis call. Please note this call is being recorded and for the duration of the call, your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing star 1 on your telephone keypad to register your question. If you require assistance at any point, please press star 0 and you will be connected to an operator. I will now hand over to your host, Mr. Frank Niage, CEO, to begin today's conference. Thank you.

Good morning, everyone. I welcome you to our preliminary earnings call 2022. First of all, I have to start and excuse my friend and colleague, Mohamed Shawour, due to the loss of his father. and the attendance of the funeral today, and we all here from Frankfurt send him our condolences. In the call today, therefore, is my new colleague, the CFO, Dr. Benon Janos, and obviously Achim Schreck, our head of IR, like always. We will split the presentation among the three of us, and I will start now. Let me summarize quickly and give you a sneak preview of what we've prepared today as it is a lot of information and as I like to give you six key takeaways from the CEO point of view with respect to the presentation. First, the situation with the regulator. Second, the robust financials. Third, The improvement was ESG. Fourth, more transparency in the future. Fifth, higher profitability due to cost discipline. And last but not least, our guidance comes in very conservative and cautious due to the geopolitical situation, inflation, and interest environment. And obviously we included today only the status quo with respect to the actual interest rates. Let me start first with the situation of our regulator. The 44 audit is finished and the necessary project to resolve the findings is on track. There was a misdemeanor proceeding, which came to an end. and were relating to incidents out of the years 20 and 21. The fine is non-material from an accounting point of view. The appointment of a special representative allows the BaFin to adjust and post capital measures, and we would not have to wait for a regular follow-up audit in 12 to 24 months. The project teams are working on all relevant findings full steam with a clear focus of more form over substance. Our project plan has been cleared by two audit firms.

Finally, we are on good terms with the regulator.