Admiral Markets - Annual Financial Report
Admiral Markets AS unaudited 12 months financial results of 2021
2021 was the most successful for Admirals in terms of new client applications
As another success story for Admirals performance in 2021, our ongoing substantial investment in development and IT, as well as our expansion into new regions and strategic services added to the portfolio, has allowed for a wider customer base to enter the financial world.
The extreme volatility of 2020 laid a solid foundation for future trading and investment practices among millions of people around the world, and this can clearly be seen in today's ever-growing trading volumes. 2020 was an extreme year for the financial sector relative to the comparatively moderate trading landscape of 2019, reflecting real trends.
“We have kept our costs at 2020’s level while making significant investments in development and infrastructure. We introduced a wide range of new services and products in our portfolio, keeping pace with customer interest in cryptocurrency. These steps, and more, have increased our global presence in the FinTech sector,” said Sergei Bogatenkov, CEO of Admirals.
Trading levels normalized to record volumes in 2020. The Group's trading revenue was 37 million euros, compared to 66 million euros in the same period in 2020. The number of new applications increased by 32% compared to 2020. The Group's net profit for the year ended was 0,9 million euros (2020: 20,3 million euros).
A key point of the past year’s performance is our continued contribution to cultural and educational life. For Admirals, financial literacy is one of the cornerstones of our long-term vision, leading to a variety of educational and mentoring programs. Eesti Kontsert and our strategic partner kood.tech in Jõhvi, stand for the sustainability of Estonian culture and programming education.
According to Sergei Bogatenkov, “the company has experienced success in its journey to become a financial centre. And our excellent performance during turbulent times, producing unique results and, most importantly, seeing the relevance of our vision, long-term goals, and strategic plan was undeniable. I am grateful to our global team, partners and investors, with whom we will continue to shake up the financial world and stand up for an innovative, unified, and personal experience in finance.”
Statement of Financial Position
(in thousands of euros)12/31/20216/30/202112/31/2020 Assets Due from credit institutions4.69610.14125.742 Due from investment companies18.29216.10615.120 Financial assets at fair value through profit or loss9.99810.41110.248 Loans and receivables16.09710.4376.730 Inventories48 Other assets1.9032.5841.390 Investments into associates01.5481.375 Investments into subsidiaries4.1804.1804.180 Tangible fixed assets1.6441.6921.614 Right-of-use asset3.1473.9344.213 Intangible fixed assets3.0702.083824 Total assets63.07563.11671.436 Liabilities Financial liabilities at fair value through profit or loss637274219 Liabilities and prepayments1.3813.5037.317 Subordinated debt securities1.8271.8271.827 Lease liabilities3.3754.1574.396 Total liabilities7.2209.76113.759 Equity Share capital2.5862.5862.586 Statutory reserve capital259259259 Retained earnings53.01050.51054.832 Total equity55.85553.35557.677 Total liabilities and equity63.07563.11671.436 (in thousands of euros)12M 20216M 20216M 2020 Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers36.88217.89539.878 Brokerage and commission fee revenue1.9352857 Brokerage and commission fee expense-18.439-8.855-8.338 Other trading activity related income156612 Other trading activity related expense-4-3-18 Net income from trading20.539.07131.591 Other income2.624421611 Other expense-52-52-237 Interest income calculated using the effective interest method25110648 Other income similar to interest1859398 Interest expense-229-118-122 Net gains/(losses) on exchange rate changes867413-250 Net loss from financial assets at fair value through profit or loss-349 Personnel expenses-4.638-2.662-3.950 Operating expenses-16.482-7.673-7.855 Depreciation of tangible and intangible assets -687-333-292 Depreciation of right-of-use assets-533-279-263 Profit (loss) before income tax1.487-1.01319.379 Income tax-567-567-266 Net profit (loss) for the reporting period920-1.58019.113 Comprehensive income (loss) for the reporting period920-1.58019.113 Basic and diluted earnings (loss) per share2.28-3.9147.31
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 continually 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 they offer numerous tried-and-tested marketing tools, state-of-the-art software, and quality assurance.
Today, Admirals consists of a staff of over 400 people, 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