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Admirals Group AS audited annual report 2023

Written by Customer Service on . Posted in Public Companies.

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  
Cash 41,025 55,489
Due from investment companies 18,961 16,528
Financial assets at fair value through profit or loss 5,062 7,011
Loans and receivables 4,772 4,643
Inventories 311 48
Other assets 2,137 3,162
Tangible fixed assets 1,950 2,296
Right-of-use assets 2,603 3,160
Intangible fixed assets 5,147 5,841
Total assets 81,968 98,178
   
Liabilities  
Financial liabilities at fair value through profit or loss 224 294
Liabilities and prepayments 4,319 6,982
Subordinated debt securities 4,102 4,570
Lease liabilities 2,894 3,435
Total liabilities 11,539 15,281
   
Equity  
Share capital 250 250
Own shares -315 -315
Statutory reserve capital 25 25
Currency translation reserve -834 -669
Retained earnings 71,276 83,600
Total equity attributable to owners of the parent 70,402 82,891
Non-controlling interest 27 6
Total equity 70,429 82,897
Total liabilities and equity 81,968 98,178
   
   
Statement of Comprehensive Income  
(in thousands of euros)  
  12M 2023 12M 2022
Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers 46,276 70,654
Brokerage and commission fee revenue 2,134 2,017
Brokerage and commission fee expense -5,118 -3,472
Other trading activity related income 412 839
Other trading activity related expense -2,768 -1,062
Net income from trading 40,936 68,976
Other income similar to interest 171 86
Interest income calculated using the effective interest method 900 201
Interest expense -496 -444
Other income 741 2,358
Other expenses -185 -778
Net losses on exchange rate changes -984 -846
Net loss at fair value through profit or loss 61 -490
Personnel expenses -15,231 -12,969
Operating expenses -31,875 -28,846
Depreciation of tangible and intangible assets -2,310 -2,005
Depreciation of right-of-use assets -837 -863
Profit before income tax -9,109 24,380
Income tax -616 -99
Profit for the reporting period -9,725 24,281
Other comprehensive income:  
Items that subsequently may be reclassified to profit or loss:  
Unrealized exchange rate differences -165 -692
Total other comprehensive income/(loss) for the reporting period -165 -692
Total comprehensive income for the reporting period -9,890 23,589
Net profit attributable to the owners of the parent -9,746 24,291
Net profit attributable to non-controlling interest 21 -10
Profit for the reporting period -9,725 24,281
Total comprehensive income attributable to the owners of the parent -9,911 23,599
Total comprehensive income attributable non-controlling interest 21 -10
Comprehensive income for the reporting period -9,890 23,589
Basic and diluted earnins per share -3.95 9.87

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

 

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