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Flatexdegiro $FTK (+0,76 %) is becoming somewhat more optimistic after a strong start to the year. The SDax-listed company announced on Thursday after the end of Xetra trading in Frankfurt that it now expects sales and profits to increase at the upper end of the forecast range. According to the targets published at the beginning of the year, sales are expected to increase by 5 to 15 percent and profits by 25 to 50 percent.

In the first quarter, sales increased by a quarter to 123 million euros. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 177 percent to 54 million euros.

On balance, Flatexdegiro earned 30 million euros, 340 percent more than a year ago.

Turnover and operating profit were better than experts had expected. The share price initially rose on the Tradegate trading platform after the close of trading.

The company is currently looking for a new CEO. At the beginning of the week, it was announced that the current CEO Frank Niehage would be stepping down on April 30 - around a month after major shareholder Bernd Förtsch publicly settled accounts with the manager's work.

Flatexdegiro justified the departure on Monday with

"different views on strategic development" and the well-being of the company, the search for a successor is ongoing. For the time being, two colleagues on the Executive Board are to lead the company./zb/he