Admiral Markets AS 2025 Unaudited 6 Months Financial Results
In a period marked by lower client trading activity in the Group’s core European markets, Admiral Markets AS demonstrated its commitment to operational discipline and strategic realignment.
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In 2024, Admirals voluntarily suspended the onboarding of new European clients for Admirals Europe Ltd. in alignment with recommendations from the CySEC regulator. This temporary measure reflected our commitment to maintaining the highest standards of regulatory compliance and client trust.
After successfully implementing all required measures, Admirals resumed client onboarding in the EU in March 2025, re-engaging with a key market. User acquisition efforts intensified in the second quarter of 2025, reinforcing our position as a trusted multi-asset investment brokerage and responsible partner.
The Group remains confident in its future and diversified strategy, underpinned by market-leading trading technology, a robust financial position, and operational progress achieved in recent years. Admirals is well-positioned for sustainable growth, with a clear focus on aligning with client objectives and creating long-term value for stakeholders.
Statement of Financial Position
| (in thousands of euros) | 30.06.2025 | 31.12.2024 |
| Assets | ||
| Due from credit institutions | 26,065 | 19,381 |
| Due from investment companies | 11,692 | 13,362 |
| Financial assets at fair value through profit or loss | 910 | 1,602 |
| Loans and receivables | 25,390 | 29,231 |
| Inventories | 259 | 665 |
| Other assets | 681 | 650 |
| Investment into subsidiaries | 4,180 | 4,180 |
| Tangible fixed assets | 1,212 | 1,041 |
| Right-of-use asset | 1,515 | 1,757 |
| Intangible fixed assets | 2,322 | 2,821 |
| Total assets | 74,226 | 74,690 |
| Liabilities | ||
| Financial liabilities at fair value through profit or loss | 328 | 333 |
| Liabilities and prepayments | 4,090 | 744 |
| Subordinated debt securities | 1,347 | 1,347 |
| Lease liabilities | 1,767 | 2,025 |
| Total liabilities | 7,532 | 4,449 |
| Equity | ||
| Share capital | 2,586 | 2,586 |
| Statutory reserve capital | 259 | 259 |
| Retained earnings | 63,849 | 67,396 |
| Total equity | 66,694 | 70,241 |
| Total liabilities and equity | 74,226 | 74,690 |
Statement of Comprehensive Income
| (in thousands of euros) | 30.06.2025 | 30.06.2024 |
| Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 13,917 | 21,954 |
| Brokerage and commission fee revenue | 413 | 656 |
| Brokerage and commission fee expense | -10,308 | -15,951 |
| Other trading activity related income | 142 | 248 |
| Other trading activity related expense | -48 | 0 |
| Net income from trading | 4,116 | 6,907 |
| Other income similar to interest | 0 | 38 |
| Interest income calculated using the effective interest method | 569 | 633 |
| Interest expense | -73 | -78 |
| Other income | 216 | 212 |
| Other expense | 0 | 0 |
| Net gains on exchange rate changes | -631 | 121 |
| Net loss from financial assets at fair value through profit or loss | -94 | -145 |
| Personnel expenses | -1,986 | -2,158 |
| Operating expenses | -4,560 | -3,695 |
| Depreciation of tangible and intangible assets | -861 | -738 |
| Depreciation of right-of-use assets | -243 | -242 |
| (Loss) / Profit before income tax | -3,547 | 855 |
| Income tax | 0 | 0 |
| Net (loss) / profit for the reporting period | -3,547 | 855 |
| Comprehensive income for the reporting period | -3,547 | 855 |
| Basic and diluted earnings per share | -8.78 | 2.12 |
Additional information:
Alexander Tsikhilov
Chairman of the Management Board of Admirals Group AS
alexander.tsikhilov@admirals.com
+372 6309 300
https://www.admirals.group/
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