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Lang & Schwarz loses exclusive position at Trade Republic – trading volume collapses by up to 92%

Trade Republic has ended the exclusive forwarding of orders to Lang & Schwarz, causing trading volumes on the LS Exchange to fall by up to 92% since early July. Lang & Schwarz's stock dropped by more than a third within a few days and is back at 2024 levels. The reasons cited include Trade Republic's new routing-based trading system and internal matching; Lang & Schwarz still expects trading income above €109 million but currently cannot reliably quantify the impact. » More on handelsblatt.com
Lang & Schwarz expects decline in trading result after Trade Republic plans

Trade Republic will introduce its own trading technology and a best-price algorithm and will in future execute orders directly in its own book rather than routing them through Lang & Schwarz. Lang & Schwarz therefore expects a slight to at most moderate year-on-year decline in trading income and sees impacts on the group business. The announcement sent L&S shares down by more than 19 percent, while Flatexdegiro reacted only moderately. » More on de.investing.com
Lang & Schwarz adjusts 2026 forecast due to changed order flow from Trade Republic

Lang & Schwarz expects, as a result of Trade Republic’s decision to execute orders at the best available price, a slight to at most moderate reduction in its trading result in 2026. The company expects the 2026 trading result to still be above the 2024 level. In the second quarter of 2026 the trading result was around EUR 32 million. Lang & Schwarz is simultaneously advancing the development of an additional trading model with multiple securities service providers to tap additional liquidity. » More on de.investing.com

Historical dividends Dividends

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In 2011, Lang & Schwarz has already paid 0,14€ in dividends. The last payout was in September 2011.

Financials

In the last year, Lang & Schwarz had revenue of 739,52 Mio€ and net profit of 22,12 Mio€

(EUR)	2024	YoY
Revenue	+739,52 Mio	52,39%
Gross profit	+86,07 Mio	208,95%
Net profit	+22,12 Mio	189,69%
EBITDA	+56,02 Mio	283,15%

Fundamentals

Metric	Value
Market capitalization	0,00€
52-week high/low	+73,40€ - +24,43€
Dividends	No
Beta	1,25
P/E ratio	+2,56
PEG ratio	+0,02
P/B ratio	+1,29
P/S ratio	+0,13

Company profile

Die Lang & Schwarz Aktiengesellschaft beschäftigt sich über ihre Tochtergesellschaften mit der Entwicklung und Emission von derivativen Finanzinstrumenten in Deutschland. Das Unternehmen betreibt eine Plattform für den außerbörslichen Handel mit Aktien, Fonds, Anleihen und ETPs, LS Exchange, ein elektronisches Handelssystem, sowie IT-Hard- und Softwaredienstleistungen. Die Lang & Schwarz Aktiengesellschaft wurde 1996 gegründet und hat ihren Hauptsitz in Düsseldorf, Deutschland.