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Admiral Markets - Half Year financial report

Admiral Markets AS 2023 Unaudited 6 Months Financial Results

Admirals witnesses a significant rise in new applications 

Despite the low volatility in the financial markets in the first half of 2023, Admiral Markets AS delivered outstanding numbers in onboarding new clients and those of active.  

  • Net trading income was EUR 20.5 million (6M 2022: EUR 32.3 million and 6M 2021: EUR 9.1 million)
  • EBITDA  was EUR -3.1 million (6M 2022: EUR 24.3 million and 6M 2021: EUR -0.5 million)
  • Number of new applications in Group went up by 222% to 143,414 applications compared to same period of 2022 (6M 2022: 44,508 and 6M 2021: 75,759) 
  • Number of active clients in Group went up by 96% to 65,636 clients compared to same period of 2022 (6M 2022: 33,493 and 6M 2021: 40,235 active clients) 

„Admirals has always emphasized the importance of a long-term strategy. The expansion in new regions, leveraging the existing licenses and global brand presence, is as remarkable as our commitment is clear. We are driven by the desire to pursue progress and innovation,“ said the CEO of Admirals Group AS, Sergei Bogatenkov.  

„Admirals’ vision is to empower financial inclusion by providing easy-to-use, affordable, and secure access to financial products through the Admirals’ ecosystem." 

„I am proud that we have unlocked significant possibilities for growth and the expansion through diversification. Admirals has positioned itself in the rapidly developing FinTech community as a flexible and operative technology provider, as well as an education-driven strategic partner.” 

Statement of Financial Position  (in thousands of euros)30.06.202331.12.2022Assets  Due from credit institutions15,61320,111Due from investment companies15,50813,266Financial assets at fair value through profit or loss7,3357,933Loans and receivables28,85134,634Inventories17048Other assets1,4932,230Investments into subsidiaries4,1804,180Tangible fixed assets1,6951,850Right-of-use asset2,4422,684Intangible fixed assets3,0733,095Total assets80,36090,031   Liabilities  Financial liabilities at fair value through profit or loss82214Liabilities and prepayments2,0524,350Subordinated debt securities1,3541,827Lease liabilities2,7162,949Total liabilities6,2049,340   Equity  Share capital2,5862,586Statutory reserve capital259259Retained earnings71,31177,846Total equity74,15680,691Total liabilities and equity80,36090,031   Statement of Comprehensive Income  (in thousands of euros)6M 20236M 2022   Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers20,51044,608Brokerage fee income7540Brokerage and commission fee expense-15,794-12,603Other trading activity related income188252Net income from trading5,65832,257Other income118192Other expense5110Interest income calculated using the effective interest method-103278Other income similar to interest22759Interest expense10-105Net gains on exchange rate changes-158991Net gains at fair value through profit or loss-77-437Personnel expenses-2,373-2,575Operating expenses-6,316-6,566Depreciation of tangible and intangible assets-636-580Depreciation of right-of-use assets-242-242Profit before income tax-3,38123,272Income tax-5350Profit for the reporting period-3,91623,272Comprehensive income for the reporting period-3,91623,272

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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