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Admiral Markets AS unaudited 12 months financial results of 2022

Admiral Markets AS
Admiral Markets AS

2022 was the most successful for the company

2022 was the most successful of Admirals' 22 years of operation. The company achieved records in net trading revenue, net profit and active customers, acquired licenses in South Africa and Canada, and strongly continued to strategically implement the 2030 vision to enable financial freedom for 10 million people. 

  • Admiral Markets AS net trading income 44,3 million euros (2021: 20,5 million euros)

  • Admiral Markets AS net profit 24,8 million euros (2021: 0.9 million euros)

As a global FinTech community, Admirals has always stood for the values that connect people and cultures all around the world. Financial freedom is one of the next great objectives of humankind and we believe that it should be within reach for everybody and everywhere. Our aim is to be a trustful financial partner on that journey,” said the CEO of Admiral Markets AS Sergei Bogatenkov.

"Our vision is to be the global pioneer in financial inclusion that lets people access effortless, affordable, and secure financial products and services through an ecosystem that meets their needs. This vision does not only speak about the future but describes today’s simultaneous development and execution of a strong strategy as a global financial hub. We are fast, flexible, and courageous, which is what our record results last year speak for," added Bogatenkov.

According to the CEO of Admiral Markets AS, the company expanded its global presence to South Africa and Canada, and today the company is trusted by customers on all continents. "We have created a strong cross-cultural team that operates in 18 different locations around the world. We are a global company with a local focus. We are constantly making sure that Admirals offers existing and future customers the best mix of products and experiences, across all geographies and channels," introduced Bogatenkov.

"One of the milestones in our success is our app, which is a unique, secure, and customer-friendly tool to navigate the vast world of finance in 10 different languages. Our newly launched in-house native trading and investing platform will define future success. Our business is back to full scale as we were in the pre-pandemic times. We are strongly focused on the development of IT and infrastructure, making sure that continuous R&D investments provide us with tools for further growth. We keep pace with the endless integration of AI possibilities and the development of machine learning that will allow our high performance to succeed to new levels. Our systems are fully trouble-proof while functioning securely and to the highest possible standards,” said the CEO of Admiral Markets AS Sergei Bogatenkov.

“We must think about the environment, actions and influence we can create as a global leader. We have always emphasised the importance of sharing our success with organizations and initiatives who need our support. In a constantly changing world, we are staying committed to empowering the FinTech community,” the CEO noted.

Statement of Financial Position

 

 

 

 

 

 

 

 

 

 

(in thousands of euros)

12/31/2022

12/31/2021

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

Due from credit institutions

20.111

4.696

 

 

 

 

 

 

 

 

Due from investment companies

13.266

18.292

 

 

 

 

 

 

 

 

Financial assets at fair value through profit or loss

7.933

9.998

 

 

 

 

 

 

 

 

Loans and receivables

34.634

16.097

 

 

 

 

 

 

 

 

Inventories

48

48

 

 

 

 

 

 

 

 

Other assets

2.23

1.903

 

 

 

 

 

 

 

 

Investments into subsidiaries

4.18

4.180

 

 

 

 

 

 

 

 

Tangible fixed assets

1.85

1.644

 

 

 

 

 

 

 

 

Right-of-use asset

2.684

3.147

 

 

 

 

 

 

 

 

Intangible fixed assets

3.095

3.070

 

 

 

 

 

 

 

 

Total assets

90.031

63.075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Financial liabilities at fair value through profit or loss

214

637

 

 

 

 

 

 

 

 

Liabilities and prepayments

4.35

1.381

 

 

 

 

 

 

 

 

Subordinated debt securities

1.827

1.827

 

 

 

 

 

 

 

Lease liabilities

2.949

3.375

 

 

 

 

 

 

 

 

Total liabilities

9.34

7.220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

 

 

Share capital

2.586

2.586

 

 

 

 

 

 

 

 

Statutory reserve capital

259

258.55

 

 

 

 

 

 

 

 

Retained earnings

77.846

53.010

 

 

 

 

 

 

 

 

Total equity

80.691

55.855

 

 

 

 

 

 

 

 

Total liabilities and equity

90.031

63.075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of Comprehensive Income

 

 

 

 

 

 

 

 

 

 

(in thousands of euros)

31.12.2022

31.12.2021

 

 

 

 

 

 

 

 

Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers

70.462

36.882

 

 

 

 

 

 

 

 

Brokerage and commission fee revenue

1.88

1.935

 

 

 

 

 

 

 

 

Brokerage and commission fee expense

-28.832

-18.439

 

 

 

 

 

 

 

 

Other trading activity related income

753

156

 

 

 

 

 

 

 

 

Other trading activity related expense

0

-4

 

 

 

 

 

 

 

 

Net income from trading

44.263

20.530

 

 

 

 

 

 

 

 

Other income similar to interest

137

185

 

 

 

 

 

 

 

 

Interest income calculated using the effective interest method

698

251

 

 

 

 

 

 

 

 

Interest expense

-210

-229

 

 

 

 

 

 

 

 

Other income

528

2.624

 

 

 

 

 

 

 

 

Other expense

-10

-52

 

 

 

 

 

 

 

 

Net gains/(losses) on exchange rate changes

1.13

867

 

 

 

 

 

 

 

 

Net gain/(loss) from financial assets at fair value through profit or loss

-363

-349

 

 

 

 

 

 

 

 

Personnel expenses

-4.828

-4.638

 

 

 

 

 

 

 

 

Operating expenses

-14.826

-16.482

 

 

 

 

 

 

 

 

Depreciation of tangible and intangible assets

-1.202

-687

 

 

 

 

 

 

 

 

Depreciation of right-of-use assets

-483

-533

 

 

 

 

 

 

 

 

Profit (loss) before income tax

24.834

1.487

 

 

 

 

 

 

 

 

Income tax

0

-567

 

 

 

 

 

 

 

 

Net profit (loss) for the reporting period

24.834

920

 

 

 

 

 

 

 

 

Comprehensive income (loss) for the reporting period

24.834

920

 

 

 

 

 

 

 

 

Basic and diluted earnings (loss) per share

61.47

2.28

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Additional information:

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



 

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