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Admiral Markets - Half Year financial report

Admiral Markets AS 2025 Unaudited 6 Months Financial Results

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.

  • Net trading income was EUR 4.1 million (6M 2024: EUR 6.9 million).
  • Net loss was EUR -3.5 million (6M 2024: net profit EUR 0.9 million).
  • The number of active clients stood at 23,190. The Group is now focused on rebuilding and expanding its client base following a temporary strategic pause.

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)30.06.202531.12.2024Assets  Due from credit institutions26,06519,381Due from investment companies11,69213,362Financial assets at fair value through profit or loss9101,602Loans and receivables25,39029,231Inventories259665Other assets681650Investment into subsidiaries4,1804,180Tangible fixed assets1,2121,041Right-of-use asset1,5151,757Intangible fixed assets2,3222,821Total assets74,22674,690   Liabilities  Financial liabilities at fair value through profit or loss328333Liabilities and prepayments4,090744Subordinated debt securities1,3471,347Lease liabilities1,7672,025Total liabilities7,5324,449   Equity  Share capital2,5862,586Statutory reserve capital259259Retained earnings63,84967,396Total equity66,69470,241Total liabilities and equity74,22674,690

Statement of Comprehensive Income

(in thousands of euros)30.06.202530.06.2024Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers13,91721,954Brokerage and commission fee revenue413656Brokerage and commission fee expense-10,308-15,951Other trading activity related income142248Other trading activity related expense-480Net income from trading4,1166,907Other income similar to interest038Interest income calculated using the effective interest method569633Interest expense-73-78Other income216212Other expense00Net gains on exchange rate changes-631121Net loss from financial assets at fair value through profit or loss-94-145Personnel expenses-1,986-2,158Operating expenses-4,560-3,695Depreciation of tangible and intangible assets  -861-738Depreciation of right-of-use assets-243-242(Loss) / Profit before income tax-3,547855Income tax00Net (loss) / profit for the reporting period-3,547855Comprehensive income for the reporting period-3,547855Basic and diluted earnings per share-8.782.12

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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