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Admiral Markets - Annual Financial Report

Admiral Markets AS audited annual report 2023

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 EUR 9.1 million (2022: EUR 44.3 million, 2021: EUR 20.5 million and 2020: EUR 47.1 million)
• EBITDA was EUR -6.9 million (2022: EUR 25.9 million, 2021: EUR 2.5 million and 2020: EUR 21.6 million)
• Number of active clients in the Admirals Group went up by 62% to 89,764 clients compared to 2022 and is up by 83% compared to 2021 (2022: 55,242, 2021: 49,080 and 2020: 48,341 active clients).
• 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 (2022: 70,436, 2021: 63,231 and 2020: 62,854 active accounts).

Statement of Financial Position  (in thousands of euros)31.12.202331.12.2022Assets  Due from credit institutions10,17520,111Due from investment companies9,01413,266Financial assets at fair value through profit or loss6,3537,933Loans and receivables37,27434,634Inventories31148Other assets9702,230Investments into subsidiaries4,1804,180Tangible fixed assets1,4941,850Right-of-use asset2,2212,684Intangible fixed assets2,9433,095Total assets74,93590,031   Liabilities  Financial liabilities at fair value through profit or loss217214Liabilities and prepayments9804,350Subordinated debt securities1,3531,827Lease liabilities2,4992,949Total liabilities5,0499,340   Equity  Share capital2,5862,586Statutory reserve capital259259Retained earnings67,04177,846Total equity69,88680,691Total liabilities and equity74,93590,031   Statement of Comprehensive Income  (in thousands of euros)20232022   Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers41,77770,462Brokerage fee income1,6681,880Brokerage and commission fee expense-34,656-28,832Other trading activity related income339753Net income from trading9,12844,263Other income877528Other expense10-10Interest income calculated using the effective interest method1,044698Other income similar to interest172137Interest expense-184-210Net gains on exchange rate changes-2141,130Net gains at fair value through profit or loss61-363Personnel expenses-4,634-4,828Operating expenses-12,168-14,826Depreciation of tangible and intangible assets-1,259-1,202Depreciation of right-of-use assets-484-483Profit before income tax-7,65124,834Income tax-5350Profit for the reporting period-8,18624,834Comprehensive income for the reporting period-8,18624,834Basic and diluted earnings per share-20.2661.47



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.comhttps://www.admirals.group/

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