Admiral Markets AS 2022 Unaudited 6 Months Financial Results

Admiral Markets AS

Admirals' results are exceptional 

Compared to the same period last year, Admirals has significantly increased its net trading income, trading volumes and net profit in the first half of the year, continuing large-scale investments in IT and innovation. The company acquired new licenses in South Africa and Canada. These are  eloquent success stories of implementing a strong strategy with a long-term goal of ensuring financial freedom for 10 million people by 2030.

• Admirals Group AS net income increased by 143% (43 million euros versus 17.3 million euros in the same period of 2021)

• Net profit 24.01 million euros (-1.7 million euros in the same period of 2021)

"Despite the great uncertainty in the world economy and political situation, we continued to implement our long-term goals, continuing to unite personal finance and investing for our client. Our first half-year results are exceptional, trading volumes are strong and stable," said the CEO of Admirals Group AS Sergei Bogatenkov.

According to Bogatenkov, Admirals is steadily growing its customer base and introducing a variety of products focused on its strengths by increasing trading and investment opportunities through the app, accelarating people along the path towards financial freedom. "At the same time, we continue to be a reliable and high-quality market leader for experienced participants in the sector. The number of people using the Admirals app continues to grow,” the CEO noted.

In the past six months, the company acquired licenses in South Africa and Canada. "We are strategically increasing our presence in different regions of the world. Canada is the first step for the company's positioning in North America, and Africa, as a fast and developing financial center, is an excellent opportunity to strongly expand our customer base," described the company's CEO.

According to Bogatenkov, the company's team is ready to face the new economic cycle in rapidly changing circumstances: "Admirals has proven that it belongs to the top of the FinTech world. We are the quality leader in our sector and as a global financial center we offer our clients digital tools on their way to financial freedom."

Admirals has just announced the continuation of cooperation with Eesti Kontsert. The company is also the main sponsor of the Estonian football club FCI Levadia, supports the financial literacy of young people through various cooperation and projects, and stands by Ukraine and Ukrainians.

"Our company stands next to organizations and initiatives that create significant value for society. Today, we are also focused on sustainability and applying green thinking both in our core business and as a global team," added the CEO.

Statement of Financial Position
(in thousands of euros)	6/30/2022	12/31/2021
Assets
Due from credit institutions	23.175	4.696
Due from investment companies	17.018	18.292
Financial assets at fair value through profit or loss	6.127	9.998
Loans and receivables	36.488	16.097
Inventories	8	48
Investments into associates	0	0
Other assets	2.266	1.903
Investments into subsidiaries	4.180	4.180
Tangible fixed assets	1.570	1.644
Right-of-use asset	2.906	3.147
Intangible fixed assets	3.127	3.070
Total assets	96.865	63.075
Liabilities
Financial liabilities at fair value through profit or loss	345	637
Liabilities and prepayments	12.411	1.381
Subordinated debt securities	1.827	1.827
Lease liabilities	3.154	3.375
Total liabilities	17.737	7.220
Equity
Share capital	2.586	2.586
Statutory reserve capital	259	259
Retained earnings	76.283	53.010
Total equity	79.128	55.855
Total liabilities and equity	96.865	63.075
Statement of Comprehensive Income
(in thousands of euros)	6M 2021	6M 2021
Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers	44.608	17.895
Brokerage fee income	0	28
Brokerage and commission fee expense	-12.603	-8.855
Other trading activity related income	252	6
Other trading activity related expense	0	-3
Net income from trading	32.257	9.071
Other income	192	421
Other expense	0	-52
Interest income calculated using the effective interest method	278	106
Other income similar to interest	59	93
Interest expense	-105	-118
Net gains on exchange rate changes	991	413
Net gains at fair value through profit or loss	-437	0
Personnel expenses	-2.575	-2.662
Operating expenses	-6.566	-7.673
Depreciation of tangible and intangible assets	-580	-333
Depreciation of right-of-use assets	-242	-279
Profit before income tax	23.272	-1.013
Income tax	0	-567
Profit for the reporting period	23.272	-1.580
Comprehensive income for the reporting period	23.272	-1.580
Basic and diluted earnings per share	57.6	-3.91

The reports of Admiral Markets AS are available on the following website: https://admiralmarketsgroup.com/en/admiral-markets-as/reports/.

Admirals is a global FinTech and investment firm whose regulated subsidiaries offer smart solutions for multiple financial products. Since the foundation in 2001, Admirals has continuosly expanded its reach, and today it services worldwide through regulated trading companies.

Investment company Admiral Markets AS, established in Estonia, is a branch of Admirals Group AS, which has the right to provide investment services under the operating license of the Estonian Financial Supervision Authority in the European Union and the European Economic Area countries. Admirals cares about the success of their partners, therefore offering numerous tried-and-tested marketing tools, state-of-the-art software, and quality assurance. 

Today, Admirals is located in 18 offices worldwide, making it a truly global organization. 

Additional information: 
Kaia Gil 
Communication manager of Admiral Markets AS
kaia.gil@admiralmarkets.com 
+372 53 413 764

 

 

Attachment

• AMAS Unaudited interim report - the first 6 months of 2022 ENG (3)