Admiral Markets AS Unaudited Financial Results 12 Months of 2024
Admiral Markets AS Unaudited Financial Results 12 Months of 2024
| Despite lower client activity, Admirals Markets AS delivered resilient trading income and positive net profit through effective cost control measures. |
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Although the income was supported by higher volatility in financial markets, Admirals Group’s cost optimisation effort was partly muted due to voluntary suspension of new client registrations in the Cyprus based operating company Admirals Europe Ltd. This company acts as the primary service entity of the Group in the EU which is one of the core markets for the Group’s business. The suspension started in April 2024 is voluntary and temporary in nature and it was necessary to allow for the implementation of required technical and organisational measures to ensure satisfactory alignment of Group’s product governance efforts with objectives and needs of it’s European clients. At the same time other Group entities continued to carry out their services uninterrupted as usual.
Statement of Financial Position
| (in thousands of euros) | 31.12.2024 | 31.12.2023 |
| Assets | ||
| Due from credit institutions | 19,381 | 10,175 |
| Due from investment companies | 13,362 | 9,014 |
| Financial assets at fair value through profit or loss | 2,516 | 6,353 |
| Loans and receivables | 29,231 | 37,274 |
| Inventories | 665 | 311 |
| Other assets | 650 | 970 |
| Investment into subsidiaries | 4,180 | 4,180 |
| Tangible fixed assets | 1,041 | 1,494 |
| Right-of-use asset | 1,757 | 2,221 |
| Intangible fixed assets | 2,821 | 2,943 |
| Total assets | 75,604 | 74,935 |
| Liabilities | ||
| Financial liabilities at fair value through profit or loss | 333 | 217 |
| Liabilities and prepayments | 744 | 980 |
| Subordinated debt securities | 1,347 | 1,353 |
| Lease liabilities | 2,025 | 2,499 |
| Total liabilities | 4,449 | 5,049 |
| Equity | ||
| Share capital | 2,586 | 2,586 |
| Statutory reserve capital | 259 | 259 |
| Retained earnings | 68,310 | 67,041 |
| Total equity | 71,155 | 69,886 |
| Total liabilities and equity | 75,604 | 74,935 |
Statement of Comprehensive Income
| (in thousands of euros) | 2024 | 2023 |
| Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 37,435 | 41,777 |
| Brokerage and commission fee revenue | 1,062 | 1,668 |
| Brokerage and commission fee expense | -25,451 | -34,656 |
| Other trading activity related income | 418 | 339 |
| Net income from trading | 13,464 | 9,128 |
| Other income similar to interest | 85 | 172 |
| Interest income calculated using the effective interest method | 1,366 | 1,044 |
| Interest expense | -155 | -184 |
| Other income | 433 | 877 |
| Other expense | 0 | 10 |
| Net gains on exchange rate changes | 198 | -214 |
| Net loss from financial assets at fair value through profit or loss | -444 | 61 |
| Personnel expenses | -4,019 | -4,634 |
| Operating expenses | -7,642 | -12,168 |
| Depreciation of tangible and intangible assets | -1,532 | -1,259 |
| Depreciation of right-of-use assets | -485 | -484 |
| (Loss) / Profit before income tax | 1,269 | -7,651 |
| Income tax | 0 | -535 |
| Net (loss) / profit for the reporting period | 1,269 | -8,186 |
| Comprehensive income for the reporting period | 1,269 | -8,186 |
| Basic and diluted earnings per share | 3.14 | -20.26 |
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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