Trade Republic Launches Its Dutch Banking Offering, Challenging Local Banks With a Free Current Account With a Dutch IBAN and 2% Interest Uncapped on All Cash Deposits
'3 years after launching in the Netherlands, we're proud to serve 200,000 customers. With our Dutch branch, our attractive saving and investing products come with all local benefits, making it the best offering for your money on the market,' says Christian Hecker, Co-Founder of Trade Republic. 'With our free current accounts featuring Dutch IBANs, the ECB interest rate of 2 percent uncapped on all cash balances, free savings plans and automated taxes, we're empowering a new generation of Dutch savers to put their money in their own hands.'
Dutch household savings reached a new record in December 2024, surpassing 600 billion euro. Ipsos I&O research commissioned by Trade Republic however shows that 59 percent of Dutch savers are unhappy with the interest offered by their banks. In April 2025 the average interest rate on current accounts was only 0,11 percent. Trade Republic is proud to offer Dutch customers the most transparent and fair interest rate on the market: the full ECB rate, currently 2 percent, on their entire current account balance for both new and existing customer.
'To build long term wealth, low cost investing is essential,' says Erik Mauritz, Senior Advisor Netherlands at Trade Republic. 'With a flat fee of 1 euro per trade and free savings plans for stocks and ETFs, we're already helping 200,000 Dutch customers save as efficiently as possible. Beyond investing, our interest offering has been a major success in the Netherlands. By passing the full ECB rate to our customers, we enable them to earn a return on their cash, even when it's not invested. We are now taking it a step further by removing the previous 50,000 euro limit and offering the full ECB rate on unlimited cash deposits.'
The interest is calculated daily, paid monthly, and applies to both new and existing customers. Trade Republic does not charge subscription fees for holding an account. Funds can be withdrawn at any time and are held with partner banks such as Credit Agricole, Deutsche Bank, J.P. Morgan, and HSBC, and are protected by the European Deposit Guarantee Scheme up to 100,000 euro.
The combination of Trade Republic's banking products, including a current account with 2 percent interest, Dutch IBANs and automated tax returns, provides users with a complete financial ecosystem to optimize their money. With the added benefit of 1 percent Saveback on card payments, automatically reinvested into their savings plans, users have an additional opportunity to grow their wealth. This approach allows users to manage their finances efficiently, from everyday banking to long-term wealth building, all through a secure and easy to use platform.
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About Trade Republic
Trade Republic is on a mission to empower everyone to create wealth with easy, safe and free access to the financial system. With millions of customers across 17 European countries and over 100 billion euro in assets under management, Trade Republic has become the home screen app for Europeans to manage their wealth. Trade Republic offers savings plans, fractional trading of shares, ETFs, bonds, as well as derivatives and crypto. On top of that, customers benefit from the Trade Republic card with 1 percent Saveback on card payments and interest offering that pays the European Central Bank (ECB) interest rate to all customers. Trade Republic is a full-service bank and is supervised by the Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank. Europe's largest broker and leading savings platform has received growth capital from leading global investors such as Accel, Peter Thiel's Founders Fund, Ontario Teachers' Pension Plan, Sequoia, Creandum and TCV. The Berlin-based company was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.
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About Helix Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. For more information about Helix, please visit our website at Non-GAAP Financial Measures Management evaluates operating performance and financial condition using certain non-GAAP measures, primarily EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt. We define EBITDA as earnings before income taxes, net interest expense, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude gains or losses on disposition of assets, acquisition and integration costs, gains or losses related to convertible senior notes, the change in fair value of contingent consideration, and the general provision (release) for current expected credit losses, if any. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from asset sales and insurance recoveries (related to property and equipment), if any. Net Debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash. We use EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. We have not provided reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures due to the challenges and impracticability with estimating some of the items without unreasonable effort, which amounts could be significant. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding: our plans, strategies and objectives for future operations; any projections of financial items including projections as to guidance and other outlook information; future operations expenditures; our ability to enter into, renew and/or perform commercial contracts; the spot market; our current work continuing; visibility and future utilization; our protocols and plans; future economic or political conditions; energy transition or energy security; our spending and cost management efforts and our ability to manage changes; oil price volatility and its effects and results; our ability to identify, effect and integrate mergers, acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition and any subsequently identified legacy issues with respect thereto; developments; any financing transactions or arrangements or our ability to enter into such transactions or arrangements; our sustainability initiatives; our share repurchase program or execution; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to market conditions and the demand for our services; volatility of oil and natural gas prices; complexities of global political and economic developments, including tariffs; results from mergers, acquisitions, joint ventures or similar transactions; results from acquired properties; our ability to secure and realize backlog; the performance of contracts by customers, suppliers and other counterparties; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; the effectiveness of our sustainability initiatives and disclosures; human capital management issues; geologic risks; and other risks described from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K, which are available free of charge on the SEC's website at We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law. HELIX ENERGY SOLUTIONS GROUP, INC. Comparative Condensed Consolidated Statements of Cash Flows Six Months Ended (in thousands) 6/30/2025 6/30/2024 (unaudited) Cash flows from operating activities: Net income $ 474 $ 6,002 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 87,871 89,824 Deferred recertification and dry dock costs (33,931 ) (20,330 ) Payment of earnout consideration - (58,300 ) Losses related to convertible senior notes - 20,922 Working capital and other (55,105 ) 14,202 Net cash provided by (used in) operating activities (691 ) 52,320 Cash flows from investing activities: Capital expenditures (8,958 ) (7,594 ) Proceeds from insurance recoveries - 363 Net cash used in investing activities (8,958 ) (7,231 ) Cash flows from financing activities: Repayments of long-term debt (4,537 ) (65,042 ) Repurchases of common stock (30,214 ) (10,189 ) Payment of earnout consideration - (26,700 ) Other financing activities (6,029 ) 405 Net cash used in financing activities (40,780 ) (101,526 ) Effect of exchange rate changes on cash and cash equivalents 2,142 (688 ) Net decrease in cash and cash equivalents (48,287 ) (57,125 ) Cash and cash equivalents: Balance, beginning of year 368,030 332,191 Balance, end of period $ 319,743 $ 275,066 Reconciliation of Non-GAAP Measures Three Months Ended Six Months Ended (in thousands, unaudited) 6/30/2025 6/30/2024 3/31/2025 6/30/2025 6/30/2024 Reconciliation from Net Income (Loss) to Adjusted EBITDA: Net income (loss) $ (2,598 ) $ 32,289 $ 3,072 $ 474 $ 6,002 Adjustments: Income tax provision (benefit) (5,997 ) 14,725 453 (5,544 ) 13,027 Net interest expense 5,875 5,891 5,706 11,581 11,368 Other (income) expense, net (437 ) 382 357 (80 ) 2,598 Depreciation and amortization 45,389 43,471 42,482 87,871 89,824 EBITDA 42,232 96,758 52,070 94,302 122,819 Adjustments: Loss on disposition of assets, net - - - - 150 General provision for (release of) current expected credit losses 198 137 (85 ) 113 (6 ) Losses related to convertible senior notes - - - - 20,922 Adjusted EBITDA $ 42,430 $ 96,895 $ 51,985 $ 94,415 $ 143,885 Free Cash Flow: Cash flows from operating activities $ (17,133 ) $ (12,164 ) $ 16,442 $ (691 ) $ 52,320 Less: Capital expenditures, net of proceeds from asset sales and insurance recoveries (4,470 ) (3,989 ) (4,488 ) (8,958 ) (7,231 ) Free Cash Flow $ (21,603 ) $ (16,153 ) $ 11,954 $ (9,649 ) $ 45,089 Net Debt: Long-term debt including current maturities $ 311,612 $ 318,629 $ 311,109 $ 311,612 $ 318,629 Less: Cash and cash equivalents (319,743 ) (275,066 ) (369,987 ) (319,743 ) (275,066 ) Net Debt $ (8,131 ) $ 43,563 $ (58,878 ) $ (8,131 ) $ 43,563 Expand
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