201 0 Kommentare Admiral Markets 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.

• Admiral Markets AS' net trading income was EUR 9.1 million (2022: EUR 44.3 million, 2021: EUR 20.5 million and 2020: EUR 47.1 million)
• EBITDA was EUR -6.9 million (2022: EUR 25.9 million, 2021: EUR 2.5 million and 2020: EUR 21.6 million)
• Number of active clients in the Admirals Group went up by 62% to 89,764 clients compared to 2022 and is up by 83% compared to 2021 (2022: 55,242, 2021: 49,080 and 2020: 48,341 active clients).
• 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 (2022: 70,436, 2021: 63,231 and 2020: 62,854 active accounts).

Statement of Financial Position
(in thousands of euros)	31.12.2023	31.12.2022
Assets
Due from credit institutions	10,175	20,111
Due from investment companies	9,014	13,266
Financial assets at fair value through profit or loss	6,353	7,933
Loans and receivables	37,274	34,634
Inventories	311	48
Other assets	970	2,230
Investments into subsidiaries	4,180	4,180
Tangible fixed assets	1,494	1,850
Right-of-use asset	2,221	2,684
Intangible fixed assets	2,943	3,095
Total assets	74,935	90,031

Liabilities
Financial liabilities at fair value through profit or loss	217	214
Liabilities and prepayments	980	4,350
Subordinated debt securities	1,353	1,827
Lease liabilities	2,499	2,949
Total liabilities	5,049	9,340

Equity
Share capital	2,586	2,586
Statutory reserve capital	259	259
Retained earnings	67,041	77,846
Total equity	69,886	80,691
Total liabilities and equity	74,935	90,031

Statement of Comprehensive Income
(in thousands of euros)	2023	2022

Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers	41,777	70,462
Brokerage fee income	1,668	1,880
Brokerage and commission fee expense	-34,656	-28,832
Other trading activity related income	339	753
Net income from trading	9,128	44,263
Other income	877	528
Other expense	10	-10
Interest income calculated using the effective interest method	1,044	698
Other income similar to interest	172	137
Interest expense	-184	-210
Net gains on exchange rate changes	-214	1,130
Net gains at fair value through profit or loss	61	-363
Personnel expenses	-4,634	-4,828
Operating expenses	-12,168	-14,826
Depreciation of tangible and intangible assets	-1,259	-1,202
Depreciation of right-of-use assets	-484	-483
Profit before income tax	-7,651	24,834
Income tax	-535	0
Profit for the reporting period	-8,186	24,834
Comprehensive income for the reporting period	-8,186	24,834
Basic and diluted earnings per share	-20.26	61.47

The reports of Admiral Markets AS are available on the following website: https://www.admirals.group/admiral-markets-as-reports

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.