Published: 2018-04-27 14:29:54 CEST

Admiral Markets AS Audited Annual Report 2017

Tallinn, Estonia, April 27, 2018

The General Meeting of Admiral Markets AS approved the 2017 audited annual report on 26 April. Admiral Markets AS reports are available on the following website: https://admiralmarketsgroup.com/admiral-markets-as/reports/.

In 2017, Admiral Markets AS earned 6.0 million euro net profit. For Admiral Markets AS, the second half of 2017 was especially successful when the company’s profit exceeded the result of the first six months by 1.6 million euro.

In 2017, the company’s net income from trading activities increased over 7%, reaching to 19.3 million euro that is the best result of the last four years. “As a sign of improved operational efficiency, Admiral Markets AS’ cost-benefit ratio fell to 66% by the end of 2017“, said Sergei Bogatenkov, Chairman of the Management Board of Admiral Markets AS.

Balance sheet total and equity grew respectively by 27% and 21% y-o-y. The return on equity of Admiral Markets AS in 2017 was 23.9%.

The financial results are presented in the following chart:

Statement of Financial Position

(in EUR)31.12.2017  31.12.2016
ASSETS  
Current assets  
Cash and cash equivalents22,001,63718,018,135
Financial assets at fair value through profit or loss3,361,1092,421,927
Short-term loans, receivables and prepayments4,247,1262,822,597
Total current assets29,609,87223,262,659
Non-current assets  
Long-term loans450,818492,560
Long-term investments50,0000
Tangible assets398,065239,069
Intangible assets93,282128,537
Total non-current assets992,165860,166
TOTAL ASSETS30,602,03724,122,825
   
LIABILITIES  
Current liabilities  
Financial liabilities at fair value through profit or loss176,93051,782
Liabilities and prepayments1,175,6131,075,312
Provisions0244,000
Total current liabilities1,352,5431,371,094
Long-term liabilities  
Subordinated debt securities1,826,8000
Total long-term liabilities1,826,8000
TOTAL LIABILITIES3,179,3431,371,094
   
EQUITY  
Share capital2,585,6002,585,600
Statutory reserve capital258,550258,550
Retained earnings24,578,54419,907,581
TOTAL EQUITY27,422,69422,751,731
   
TOTAL EQUITY AND LIABILITIES30,602,03724,122,825


Statement of Comprehensive Income

(in EUR)20172016
Net profit from trading of financial assets at fair value through profit or loss with clients and liquidity providers27,794,61024,852,520
Brokerage fee income71,638653,267
Brokerage and commission fee expense-8,653,308-7,325,048
Other trading activity related expenses132,110-227,899
Net income from trading19,345,05017,952,840
Other income403,974163,433
Interest income109,05370,567
Net gain (loss) on exchange rate changes-826,195391,350
Other financial income and expenses0-16,675
Personnel expenses-5,256,709-4,483,878
Operating expenses-7,247,722-7,751,332
Depreciation of fixed assets-200,213-308,156
Profit before income tax6,327,2386,018,149
Income tax-331,275-130,348
Profit for the accounting period 5,995,9635,887,801
Comprehensive income for the accounting period5,995,9635,887,801
Basic and diluted earnings per share14.8414.57

Further information:

Sergei Bogatenkov
Chairman of the Management Board of Admiral Markets AS
ir@admiralmarkets.com
+372 6 309 300

Attachment


Admiral Markets AS Annual Report 2017.pdf