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Admiral Markets - Half Year financial report

Admiral Markets AS 2022 Unaudited 6 Months Financial Results

Admirals' results are exceptional

Compared to the same period last year, Admirals has significantly increased its net trading income, trading volumes and net profit in the first half of the year, continuing large-scale investments in IT and innovation. The company acquired new licenses in South Africa and Canada. These are  eloquent success stories of implementing a strong strategy with a long-term goal of ensuring financial freedom for 10 million people by 2030.

  • Admirals Group AS net income increased by 143% (43 million euros versus 17.3 million euros in the same period of 2021)
  • Net profit 24.01 million euros (-1.7 million euros in the same period of 2021)  


"Despite the great uncertainty in the world economy and political situation, we continued to implement our long-term goals, continuing to unite personal finance and investing for our client. Our first half-year results are exceptional, trading volumes are strong and stable," said the CEO of Admirals Group AS Sergei Bogatenkov.

According to Bogatenkov, Admirals is steadily growing its customer base and introducing a variety of products focused on its strengths by increasing trading and investment opportunities through the app, accelarating people along the path towards financial freedom. "At the same time, we continue to be a reliable and high-quality market leader for experienced participants in the sector. The number of people using the Admirals app continues to grow,” the CEO noted.

In the past six months, the company acquired licenses in South Africa and Canada. "We are strategically increasing our presence in different regions of the world. Canada is the first step for the company's positioning in North America, and Africa, as a fast and developing financial center, is an excellent opportunity to strongly expand our customer base," described the company's CEO.

According to Bogatenkov, the company's team is ready to face the new economic cycle in rapidly changing circumstances: "Admirals has proven that it belongs to the top of the FinTech world. We are the quality leader in our sector and as a global financial center we offer our clients digital tools on their way to financial freedom."

Admirals has just announced the continuation of cooperation with Eesti Kontsert. The company is also the main sponsor of the Estonian football club FCI Levadia, supports the financial literacy of young people through various cooperation and projects, and stands by Ukraine and Ukrainians.

"Our company stands next to organizations and initiatives that create significant value for society. Today, we are also focused on sustainability and applying green thinking both in our core business and as a global team," added the CEO.

Statement of Financial Position  (in thousands of euros)6/30/202212/31/2021Assets  Due from credit institutions23.1754.696Due from investment companies17.01818.292Financial assets at fair value through profit or loss6.1279.998Loans and receivables36.48816.097Inventories848Investments into associates00Other assets2.2661.903Investments into subsidiaries4.1804.180Tangible fixed assets1.5701.644Right-of-use asset2.9063.147Intangible fixed assets3.1273.070Total assets96.86563.075   Liabilities  Financial liabilities at fair value through profit or loss345637Liabilities and prepayments12.4111.381Subordinated debt securities1.8271.827Lease liabilities3.1543.375Total liabilities17.7377.220   Equity  Share capital2.5862.586Statutory reserve capital259259Retained earnings76.28353.010Total equity79.12855.855Total liabilities and equity96.86563.075   Statement of Comprehensive Income  (in thousands of euros)6M 20216M 2021 Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers44.60817.895Brokerage fee income028Brokerage and commission fee expense-12.603-8.855Other trading activity related income2526Other trading activity related expense0-3Net income from trading32.2579.071Other income192421Other expense0-52Interest income calculated using the effective interest method278106Other income similar to interest5993Interest expense-105-118Net gains on exchange rate changes991413Net gains at fair value through profit or loss-4370Personnel expenses-2.575-2.662Operating expenses-6.566-7.673Depreciation of tangible and intangible assets-580-333Depreciation of right-of-use assets-242-279Profit before income tax23.272-1.013Income tax0-567Profit for the reporting period23.272-1.580Comprehensive income for the reporting period23.272-1.580Basic and diluted earnings per share57.6-3.91

The reports of Admiral Markets AS are available on the following website: https://admiralmarketsgroup.com/en/admiral-markets-as/reports/.

Admirals is a global FinTech and investment firm whose regulated subsidiaries offer smart solutions for multiple financial products. Since the foundation in 2001, Admirals has continuosly expanded its reach, and today it services worldwide through regulated trading companies.

Investment company Admiral Markets AS, established in Estonia, is a branch of Admirals Group AS, which has the right to provide investment services under the operating license of the Estonian Financial Supervision Authority in the European Union and the European Economic Area countries. Admirals cares about the success of their partners, therefore offering numerous tried-and-tested marketing tools, state-of-the-art software, and quality assurance.

Today, Admirals is located in 18 offices worldwide, making it a truly global organization.

Additional information:
Kaia Gil
Communication manager of Admiral Markets AS
kaia.gil@admiralmarkets.com
+372 53 413 764

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