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WKN: 121806 ISIN: DE0001218063 Ticker-Symbol: A7A 
Xetra
07.05.21
17:36 Uhr
22,400 Euro
-0,700
-3,03 %
Branche
Finanzdienstleistungen
Aktienmarkt
Scale
1-Jahres-Chart
FINLAB AG Chart 1 Jahr
5-Tage-Chart
FINLAB AG 5-Tage-Chart
RealtimeGeldBriefZeit
22,10022,60012:37
22,20022,60007.05.
Dow Jones News
226 Leser
Artikel bewerten:
(1)

FinLab (A7A): Benefiting from its fintech focus

DJ FinLab (A7A): Benefiting from its fintech focus

Edison Investment Research Limited 
FinLab (A7A): Benefiting from its fintech focus 
31-March-2021 / 07:00 GMT/BST 
=---------------------------------------------------------------------------------------------------------------------- 
 
London, UK, 31 March 2021 
 
FinLab (A7A): Benefiting from its fintech focus 
FinLab delivered a NAV total return of c 18% in FY20, primarily assisted by the share price of Heliad Equity Partners 
(HEP), in which FinLab holds a c 45% stake, more than doubling. HEP's share price was mostly driven by the acquisition 
of DEGIRO by flatex (HEP's main portfolio holding) with the favourable market conditions for online brokers in 2020 
further supporting the share price performance of the combined entity (flatexDEGIRO). We note that recently, Bernd 
Förtsch acquired Christian Angermayer's stake in FinLab, which makes him the controlling shareholder. 
 
Following solid share price growth in 2020 (up c 42%) and 2021 ytd (up c 14%), FinLab's discount to NAV narrowed from c 
45% at end-2019 to c 25% currently (versus the five-year average of c 17%). HEP now trades at a 22% discount to NAV at 
end-2020 despite c 87% of its assets being attributable to listed flatexDEGIRO and cash. HEP's discount may be at least 
partially attributable to lack of clarity in terms of its prospective investment strategy and the management fee paid 
to Heliad Management. Having said that, if FinLab's stake in HEP was accounted for at HEP's NAV, FinLab's discount 
would stand at c 33%. 
Click here to view the full report or here to sign up to receive research as it is published. 
 
All reports published by Edison are available to download free of charge from its website 
www.edisongroup.com 
About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the 
widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, 
family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the 
darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. 
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. 
Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in 
Athens, Johannesburg and Sydney. 
Edison is authorised and regulated by the Financial Conduct Authority. 
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not 
solicitations to buy or sell any securities. 
For more information, please contact Edison: 
Milosz Papst +44 (0)203 077 5700 financials@edisongroup.com 
Anna Dziadkowiec +44 (0)203 077 5700 financials@edisongroup.com 
Learn more at www.edisongroup.com and connect with Edison on: 
LinkedIn        www.linkedin.com/company/edison-group-/ 
Twitter           www.twitter.com/Edison_Inv_Res 
YouTube       www.youtube.com/edisonitv 
=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1179674 31-March-2021

(END) Dow Jones Newswires

March 31, 2021 02:01 ET (06:01 GMT)

FINLAB-Aktie komplett kostenlos handeln - auf Smartbroker.de
© 2021 Dow Jones News
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