At today’s annual general meeting, the shareholders of wallstreet: online AG (ISIN: DE000A2GS609, FSE: WSO1) approved all agenda items put to the vote by a 73.64% to 99.99% majority. 67.24% of the share capital was represented at the virtual general meeting.
At the Ordinary General Meeting, incl. it was decided to rename 99% of the votes. Moreover, a tax advisor, Silvia Gromoll, was elected to the Supervisory Board for a period of five years. In addition to her, the supervisory body includes André Kolbinger (chairman), Marcus Seidel and René Krüger. A seat vacated after longtime Supervisory Board member Roland Nicklaus took over as Chief Financial Officer in the spring of 2021. The shareholders also approved all other items on the agenda, which were put to a vote by a clear majority of votes.
The importance of a smart broker should also be reflected in the name
The name change has already been taken by the ordinary general meeting of wallstreet: online capital AG on June 15, 2022. Following its entry into the commercial register, the operating company Smartbroker will be called “Smartbroker AG”. Wallstreet: online AG, as the sole shareholder of the operating company Smartbroker, is to be called “Smartbroker Holding AG” in the future. These changes are intended to reflect the growing importance of having your own online broker in your business name.
Detailed voting results and the Management Board presentation will be available from this afternoon on the wallstreet website: online AG at https://www.wallstreet-online.ag/hv.
Case study 2026: Over € 140 million in turnover and 600,000 fiduciary accounts
At the annual general meeting, CEO Matthias Hach also presented the ‘Case Study 2026’. In it, the medium-term growth potential of an improved product is taken as part of the scenario calculation. Among other things, Hach and his team assume that the further developed Smartbroker 2.0 will have over 600,000 fiduciary accounts by the end of 2026 and the value of the assets entrusted to them will amount to over EUR 14 billion. Consequently, average portfolio assets would remain solid at around $ 23k. euro.
Depending on the number of transactions, based on these assumptions, in 2026 the entire group could be sold at a level of approximately EUR 140 million to EUR 180 million, which corresponds to a tripling of sales in fiscal 2021 (EUR 51.4). million). The planned internalization of IT infrastructure and economies of scale are aimed at increasing the EBITDA margin (after the cost of acquiring customers) from less than 10% in the last financial year to approximately 37% in 2026.
Case Study 2026 is purely a scenario calculation that comes with various uncertainties, assumptions and risks. These include, in particular, the macroeconomic environment such as the war in Ukraine, rising inflation, rising interest rates, higher energy costs, and the regulatory environment (especially regarding returns and payments for order flow). In addition, the company has not yet had any experience in trading cryptocurrencies and therefore cannot judge with certainty how this segment will develop.
The situation is similar for the areas of placement, CFD business and the effects of the Smartbrokers offer through a separate trading application. Moreover, the granting of the requested BaFin license extension, which is necessary for the operation of Smartbroker 2.0, cannot be accurately foreseen. In the event of a longer delay, the scenario calculation would have to be adjusted accordingly.
An improved business model makes a difference
The Smartbroker 2.0 optimized business model is critical to the possible business development outlined in the “Case Study 2026”. Since, once the BaFin renewal is granted, you will no longer need to transfer sales to the partner bank in the future, all income generated with private investors and business partners should remain with the company.
Along with the planned launch of the application for smartphones, they are also to be directed to new target groups, and the average costs of acquiring new customers are to be reduced by integrating advertising in social media. In addition, in its “Case Study 2026”, the Board assumes that the number of securities accounts and the number of transactions per user will increase, as customers will have both an improved web application and a purely mobile version. available in the future.
About the wallstreet group: online:
The wallstreet group: online operates Smartbroker – an internet broker that has won several awards and is the only provider in Germany that combines a wide range of classic broker products with the extremely favorable terms of neo-brokers. At the same time, the group operates four large-scale stock exchange portals (wallstreet-online.de, boersenNews.de, FinanzNachrichten.de and ARIVA.de). With several hundred million page views per month, the group is by far the largest independent financial portal operator in German-speaking countries and maintains the largest financial community.