Admirals Group 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.

The Group net trading income was 40.9 million (2022: EUR 69.0 million, 2021: EUR 35.7 million and 2020: EUR 62.2 million).
EBITDA was EUR -6.5 million (2022: EUR 27.4 million, 2021: EUR 2.6 million and 2020: EUR 23.4 million).
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.
Number of active clients in the Group went up by 62% to 89,764 clients compared to 2022 and is up by 83% compared to 2021.

Statement of Financial Position (in thousands of euros) 31.12.2022 31.12.2023 Assets Cash41,02555,489Due from investment companies18,96116,528Financial assets at fair value through profit or loss5,0627,011Loans and receivables4,7724,643Inventories31148Other assets2,1373,162Tangible fixed assets1,9502,296Right-of-use assets2,6033,160Intangible fixed assets5,1475,841Total assets81,96898,178 Liabilities Financial liabilities at fair value through profit or loss224294Liabilities and prepayments4,3196,982Subordinated debt securities4,1024,570Lease liabilities2,8943,435Total liabilities11,53915,281 Equity Share capital250250Own shares-315-315Statutory reserve capital2525Currency translation reserve-834-669Retained earnings71,27683,600Total equity attributable to owners of the parent70,40282,891Non-controlling interest276Total equity70,42982,897Total liabilities and equity81,96898,178 Statement of Comprehensive Income (in thousands of euros) 12M 202312M 2022Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers46,27670,654Brokerage and commission fee revenue2,1342,017Brokerage and commission fee expense-5,118-3,472Other trading activity related income412839Other trading activity related expense-2,768-1,062Net income from trading40,93668,976Other income similar to interest17186Interest income calculated using the effective interest method900201Interest expense-496-444Other income7412,358Other expenses-185-778Net losses on exchange rate changes-984-846Net loss at fair value through profit or loss61-490Personnel expenses-15,231-12,969Operating expenses-31,875-28,846Depreciation of tangible and intangible assets-2,310-2,005Depreciation of right-of-use assets-837-863Profit before income tax-9,10924,380Income tax-616-99Profit for the reporting period-9,72524,281Other comprehensive income: Items that subsequently may be reclassified to profit or loss: Unrealized exchange rate differences-165-692Total other comprehensive income/(loss) for the reporting period-165-692Total comprehensive income for the reporting period-9,89023,589Net profit attributable to the owners of the parent-9,74624,291Net profit attributable to non-controlling interest21-10Profit for the reporting period-9,72524,281Total comprehensive income attributable to the owners of the parent-9,91123,599Total comprehensive income attributable non-controlling interest21-10Comprehensive income for the reporting period-9,89023,589Basic and diluted earnins per share-3.959.87

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

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 Admirals Group AS
ir@admiralmarkets.com

‍