Admirals Group AS 2023 Unaudited 6 Months Financial Results

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Admirals witnesses a significant rise in new applications

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

Net trading income was EUR 21.1 million (6M 2022: EUR 43 million and 6M 2021: EUR 17.3 million)
EBITDA was EUR -2.9 million (6M 2022: EUR 26 million and 6M 2021: EUR -0.7 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) 30.06.202331.12.2022 Assets Cash2012Due from credit institutions45,72555,477Due from investment companies23,28216,528Financial assets at fair value through profit or loss6,5777,011Loans and receivables4,6664,643Inventories17048Other assets2,4973,162Tangible fixed assets2,1912,296Right-of-use assets2,8883,160Intangible fixed assets5,5395,841Total assets93,55598,178 Liabilities Financial liabilities at fair value through profit or loss100294Liabilities and prepayments10,6336,982Subordinated debt securities4,0984,570Lease liabilities3,1733,435Total liabilities18,00415,281 Equity Share capital250250Own shares-315-315Statutory reserve capital2525Currency translation reserve-603-669Retained earnings76,16383,600Total equity attributable to owners of the parent75,52082,891Non-controlling interest316Total equity75,55182,897Total liabilities and equity93,55598,178 Statement of Comprehensive Income (in thousands of euros) 6M 20236M 2022Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers22,90643,899Brokerage and commission fee revenue8141,078Brokerage and commission fee expense-2,561-1,728Other trading activity related income243267Other trading activity related expense-342-523Net income from trading21,06042,993Other income similar to interest11857Interest income calculated using the effective interest method28798Interest expense-217-220Other income2361,239Other expenses-159-73Net losses on exchange rate changes-300346Net loss at fair value through profit or loss-780Personnel expenses-7,479-6,603Operating expenses-16,216-12,378Depreciation of tangible and intangible assets-1,150-961Depreciation of right-of-use assets-378-466Profit before income tax-4,27624,032Income tax-546-19Profit for the reporting period-4,82224,013Other comprehensive income: Items that subsequently may be reclassified to profit or loss: Unrealized exchange rate differences66233Total other comprehensive income/(loss) for the reporting period66233Total comprehensive income for the reporting period-4,75624,246Net profit attributable to the owners of the parent-4,85924,023Net profit attributable to non-controlling interest25-10Profit for the reporting period-4,83424,013Total comprehensive income attributable to the owners of the parent-4,79324,256Total comprehensive income attributable non-controlling interest25-10Comprehensive income for the reporting period-4,76824,246

The reports of Admirals Group AS are available on the following website: https://admiralmarketsgroup.com/reports-group/

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.

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Additional information:
Kaia Gil
Communication manager of Admirals Group AS
kaia.gil@admiralmarkets.com
+372 53 413 764

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