Admiral Markets AS 2024 Unaudited 6 Months Financial Results
Admiral Markets AS 2024 Unaudited 6 Months Financial Results
| Despite the low volatility in the financial markets in the first half of 2024, Admiral Markets AS delivered increased trading revenues and positive EBITDA through effective cost control measures.
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Admirals voluntarily decided in April 2024 to temporarily suspend the onboarding of new customers for Admirals Europe Ltd. This decision is related to Admirals Europe Ltd’s efforts to comply with and adapt to the recommendations of the CySEC regulator and affects only operations in EU countries.
Admirals is actively working to implement the necessary changes to its processes and products to achieve full compliance with regulatory standards. By collaborating closely with CySEC, Admirals aims not only to resume attracting new clients in EU countries but also to strengthen its position in the market as a responsible and reliable partner.
| (in thousands of euros) | 30.06.2024 | 31.12.2023 |
| Assets | ||
| Due from credit institutions | 17,174 | 10,175 |
| Due from investment companies | 11,604 | 9,014 |
| Financial assets at fair value through profit or loss | 4,745 | 6,353 |
| Loans and receivables | 35,54 | 37,274 |
| Inventories | 407 | 311 |
| Other assets | 674 | 970 |
| Investment into subsidiaries | 4,18 | 4,18 |
| Tangible fixed assets | 1,266 | 1,494 |
| Right-of-use asset | 1,978 | 2,221 |
| Intangible fixed assets | 2,444 | 2,943 |
| Total assets | 80,012 | 74,935 |
| Liabilities | ||
| Financial liabilities at fair value through profit or loss | 443 | 217 |
| Liabilities and prepayments | 5,22 | 980 |
| Subordinated debt securities | 1,354 | 1,353 |
| Lease liabilities | 2,254 | 2,499 |
| Total liabilities | 9,271 | 5,049 |
| Equity | ||
| Share capital | 2,586 | 2,586 |
| Statutory reserve capital | 259 | 259 |
| Retained earnings | 67,896 | 67,041 |
| Total equity | 70,741 | 69,886 |
| Total liabilities and equity | 80,012 | 74,935 |
| (in thousands of euros) | 6 months 2024 | 6 months 2023 |
| Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 21,954 | 20,51 |
| Brokerage and commission fee revenue | 656 | 754 |
| Brokerage and commission fee expense | -15,951 | -15,794 |
| Other trading activity related income | 248 | 188 |
| Net income from trading | 6,907 | 5,658 |
| Other income similar to interest | 38 | 118 |
| Interest income calculated using the effective interest method | 633 | 511 |
| Interest expense | -78 | -103 |
| Other income | 212 | 227 |
| Other expense | 0 | 10 |
| Net gains on exchange rate changes | 121 | -158 |
| Net loss from financial assets at fair value through profit or loss | -145 | -77 |
| Personnel expenses | -2,158 | -2,373 |
| Operating expenses | -3,695 | -6,316 |
| Depreciation of tangible and intangible assets | -738 | -636 |
| Depreciation of right-of-use assets | -242 | -242 |
| (Loss) / Profit before income tax | 855 | -3,381 |
| Income tax | 0 | -535 |
| Net (loss) / profit for the reporting period | 855 | -3,916 |
| Comprehensive income for the reporting period | 855 | -3,916 |
| Basic and diluted earnings per share | 2.12 | -9.69 |
Additional information:
Lauri Reinberg
Chief financial officer of Admirals Group AS
lauri.reinberg@admiralmarkets.com
+372 6309 300
https://www.admirals.group/
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