In 2020, Admiral Markets AS set a profit record of operation

In 2020, Admiral Markets AS set a profit record of operation

2020 marked Admiral Markets AS’ most successful year. The company’s net profit was 20.3 million euros, which is 340% more than the year before. The volume of transactions increased by 110% during the year.

Admiral Markets AS’ net income increased to 47.1 million euros in the past year. In 2019, this figure was 23.2 million euros. The net profit margin in 2020 was 43% (2019: 20%). In 2020, Admiral Markets AS’ customers collectively made 66.9 million transactions, compared to the previous year, when the corresponding figure was 31.8 million.

Sergei Bogatenkov, Chairman of the Management Board of Admiral Markets AS, stated that last year’s record results brought the company significantly closer to the goal set for 2030 – to offer financial freedom to 10 million customers. “Of course, we are very happy with the business results, but having been able to achieve these results while providing a stable and safe working environment for employees all around the world has been our greatest achievement at a time when we are witnessing the biggest health crisis in history,” said Bogatenkov.

“One of the biggest achievements was the launch of our new native trading application, which makes mobile trading and investing easier than ever before. It is a solution that makes it convenient for a novice trader with no previous experience in the sector to access the financial markets. In this way, we can expand our customer base by offering our customers the best localised trading and investment experience,” explained the Chairman of the Management Board of Admiral Markets AS. According to him, the company is actively involved in increasing registrations on the company’s platform, which will bring the company closer to its long-term desired results.

According to him, the trading application is just one example of how the company is strategically expanding its core services: “20 years ago, when we started our business, we were solely a Forex and CFD- based company and we wanted to become one of the leaders in this field. Today, the goals set at that time have been met and. We are expanding our global presence with new services. We are an international financial center disrupting the FinTech world. ”

Bogatenkov emphasized the growing need for raising environmental awareness. “As a global company with offices in 19 countries around the world, sustainable choices can reduce the footprint we leave behind. It is also important to give back to society and help those who need support in times of change,” the chairman of the management board explained.

As culture & the arts is an area that was strongly affected by last year, Admiral Markets AS has joined forces with Eesti Kontsert: “Music unites cultures and people. The present conditions have presented grave challenges to mental health and wellbeing of many. Forced absence from colleagues, friends and loved ones affects us all. I believe that music has the ability to comfort and bring change to everyday life.”

On March 5th, the company announced its rebranding to Admirals as it starts a new chapter. According to Sergei Bogatenkov, the previously set goals have now been achieved. “The rebranding is a natural step to reflect where we are as a business. “We set out to offer integrated solutions for investing, spending, and managing money. We are in the midst of a remarkable expansion. Trading will always be an important part of our identity as a company but we will continue to introduce a wider range of products and services which will make personal finance transparent and accessible.”

Sergei Bogatenkov thanked all the people and partners who have been a part of the company on its 20-year journey. “We have shared common lessons, success stories and worked towards a long-term goal. I am sincerely grateful to everyone who has helped us achieve such great results. I hope that this year brings the long-awaited solution to the COVID crisis and that we are able to return to normal life.”