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Admiral Markets AS 2020 Unaudited 6 Months Financial Results

Written by Customer Service on . Posted in Public Companies.

Admiral Markets AS made a record-breaking revenue and profits in the first half of 2020

For Admiral Markets AS, the first half of 2020 was the most successful in its entire history. The company made a record-breaking revenue and profit in 19 years. In the first half of 2020, the net trading income of Admiral Markets AS increased to 31.6 million euros. The corresponding figure of Admiral Markets Group AS, the parent company of Admiral Markets AS, was 37.9 million euros. The net profit of Admiral Markets AS increased by 2022%, compared to the first half of 2019 and the net profit of Admiral Markets Group AS by 1321%.Sergei Bogatenkov, the CEO of Admiral Markets, said that despite the global state of emergency caused by COVID19, which defined the first half of the year, they were able to be flexible and react quickly as a company, switching the headquarters in Tallinn as well as other regional offices to home office mode only in a couple of days. “The most important thing was to ensure a safe environment for our people. As our business is conducted in the online world, we were able to continue with our usual work rhythm to provide our clients with the high-level customer communication and personalized trading and investment experience that characterizes us as an industry leader, ” Bogatenkov noted.In addition to the largest-ever revenue and profit record, the company also set a record in the number of new customers, which grew by 260% at the group level compared to the same period last year. “Admiral Markets is today a financially secure company, offering its customers a successful partnership. Our focus is on aggressive clients’ growth. As a digitally developed company, one of the reasons for success is definitely our IT developments. The most prominent of these is the new trading application, which provides customers an even more personalized native trading experience than before,” explained the CEO. In addition, Admiral Markets performed extremely well in Southern and Western Europe, where growth in both customers and their assets exceeded expectations. According to Sergei Bogatenkov, maintaining the social distance caused by the emergency was a challenge for everyone, but the company’s employees were extremely committed, realizing the seriousness of the situation and the need for self-management. “I am very grateful to our team, because thanks to them, the first half of the year was the most successful ever in terms of business.”Admiral Markets also significantly increased its brand awareness in the first half of the year. From now on, in Lennart Meri Airport in Tallinn, there is an Admiral Markets branded gate number 5. “Quality is the key word that characterizes Admiral Markets. This is exactly the kind of trading and investment experience we offer to our clients, and it has brought us recognition from international financial institutions. To date, we have won more than 40 international awards for our service, quality and contribution to the promotion of financial education,” said Bogatenkov.
  Statement of Financial PositionStatement of Comprehensive IncomeThe reports of Admiral Markets AS are available on the following website: https://admiralmarketsgroup.com/en/admiral-markets-as/reports/.Additional information:
Kaia Gil
Communication manager of Admiral Markets AS
kaia.gil@admiralmarkets.com
+372 53 413 764AttachmentReport on 6 months 2020

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