Admirals witnesses a significant rise in active and new clients.
Number of new applications in the Group went up by 77% to 266,779 applications compared to 2022 and is up by 116% compared to 2021.
- Admiral Markets AS’ net trading income was 9.1 EUR million (2022: EUR 44.3 million, 2021: EUR 20.5 million and 2020: EUR 47.1 million);
- EBITDA was -6.9 EUR million (2022: EUR 25.9 million, 2021: EUR 2.5 million and 2020: EUR 21.6 million);
- Number of active accounts in the Group went up by 57% to 110,471 clients compared to 2022 and is up by 75% compared to 2021;
- Number of active clients in the Group went up by 62% to 89,764 clients compared to 2022 and is up by 83% compared to 2021.
„In 2023, the rising number of believers in our strong leadership, client-centricity, innovative products, and high-tech capabilities has led to a record growth in active customer numbers. This surge indicates a collective investment in financial freedom, and we are delighted to play a pivotal role in this journey,“ said the CEO of Admiral Markets AS Sergei Bogatenkov.
According to him the company’s performance is inherently connected to ever shifting dynamics of market movements. „The year brought unexpected changes and while adapting to the circumstances, we took proactive measures to optimise every aspect of our operations. Looking forward, we are confident that the optimisations implemented in response to the challenges of 2023 will pave the way for a remarkable 2024. Our collective efforts and resilience position us well to navigate the evolving landscape, ensuring that our vision for 2030 remains not only intact but fortified,“ he noted.
| Statement of Financial Position | | |
| (in thousands of euros) | 12/31/2023 | 12/31/2022 |
| Assets | | |
| Due from credit institutions | 10.175 | 20.111 |
| Due from investment companies | 9.014 | 13.266 |
| Financial assets at fair value through profit or loss | 6.353 | 7.933 |
| Loans and receivables | 37.274 | 34.634 |
| Inventories | 311 | 48 |
| Other assets | 970 | 2.230 |
| Investments into subsidiaries | 4.180 | 4.180 |
| Tangible fixed assets | 1.494 | 1.850 |
| Right-of-use asset | 2.221 | 2.684 |
| Intangible fixed assets | 2.943 | 3.095 |
| Total assets | 74.935 | 90.031 |
| | | |
| Liabilities | | |
| Financial liabilities at fair value through profit or loss | 217 | 214 |
| Liabilities and prepayments | 980 | 4.350 |
| Subordinated debt securities | 1.353 | 1.827 |
| Lease liabilities | 2.499 | 2.949 |
| Total liabilities | 5.049 | 9.340 |
| | | |
| Equity | | |
| Share capital | 2.586 | 2.586 |
| Statutory reserve capital | 259 | 259 |
| Retained earnings | 67.041 | 77.846 |
| Total equity | 69.886 | 80.691 |
| Total liabilities and equity | 74.935 | 90.031 |
| | | |
| Statement of Comprehensive Income | | |
| (in thousands of euros) | 2023 | 2022 |
| | | |
| Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 41.777 | 70.462 |
| Brokerage fee income | 1.668 | 1.880 |
| Brokerage and commission fee expense | -34.656 | -28.832 |
| Other trading activity related income | 339 | 753 |
| Net income from trading | 9.128 | 44.263 |
| Other income | 877 | 528 |
| Other expense | 10 | -10 |
| Interest income calculated using the effective interest method | 1.044 | 698 |
| Other income similar to interest | 172 | 137 |
| Interest expense | -184 | -210 |
| Net gains on exchange rate changes | -214 | 1.130 |
| Net gains at fair value through profit or loss | 61 | -363 |
| Personnel expenses | -4.634 | -4.828 |
| Operating expenses | -12.168 | -14.826 |
| Depreciation of tangible and intangible assets | -1.259 | -1.202 |
| Depreciation of right-of-use assets | -484 | -483 |
| Profit before income tax | -7.651 | 24.834 |
| Income tax | -535 | 0 |
| Profit for the reporting period | -8.186 | 24.834 |
| Comprehensive income for the reporting period | -8.186 | 24.834 |
The reports of Admiral Markets AS are available on the following website: https://www.admirals.group/admiral-markets-as-reports
About Admirals:
Admirals is one of the world's leading FinTech companies headquartered in Estonia. Admirals is a financial hub that makes personal finance transparent, convenient and accessible to everyone, everywhere, offering both beginners and experienced experts the opportunity to enter the global financial markets. Today, Admirals is one of the most international companies in Estonia, with physical offices in 18 countries around the world. Admirals is committed to building a strong global team in new regions of the world. Admirals' long-term mission is to enable financial freedom for 10 million people by 2030.
Additional information:
Kaia Gil
Communication manager of Admiral Markets AS
ir@admiralmarkets.com
https://www.admirals.group/
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