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 equivalents | 22,001,637 | 18,018,135 | | Financial assets at fair value through profit or loss | 3,361,109 | 2,421,927 | | Short-term loans, receivables and prepayments | 4,247,126 | 2,822,597 | | Total current assets | 29,609,872 | 23,262,659 | | Non-current assets | | | | Long-term loans | 450,818 | 492,560 | | Long-term investments | 50,000 | 0 | | Tangible assets | 398,065 | 239,069 | | Intangible assets | 93,282 | 128,537 | | Total non-current assets | 992,165 | 860,166 | | TOTAL ASSETS | 30,602,037 | 24,122,825 | | | | | | LIABILITIES | | | | Current liabilities | | | | Financial liabilities at fair value through profit or loss | 176,930 | 51,782 | | Liabilities and prepayments | 1,175,613 | 1,075,312 | | Provisions | 0 | 244,000 | | Total current liabilities | 1,352,543 | 1,371,094 | | Long-term liabilities | | | | Subordinated debt securities | 1,826,800 | 0 | | Total long-term liabilities | 1,826,800 | 0 | | TOTAL LIABILITIES | 3,179,343 | 1,371,094 | | | | | | EQUITY | | | | Share capital | 2,585,600 | 2,585,600 | | Statutory reserve capital | 258,550 | 258,550 | | Retained earnings | 24,578,544 | 19,907,581 | | TOTAL EQUITY | 27,422,694 | 22,751,731 | | | | | | TOTAL EQUITY AND LIABILITIES | 30,602,037 | 24,122,825 |
Statement of Comprehensive Income
| (in EUR) | 2017 | 2016 | | Net profit from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 27,794,610 | 24,852,520 | | Brokerage fee income | 71,638 | 653,267 | | Brokerage and commission fee expense | -8,653,308 | -7,325,048 | | Other trading activity related expenses | 132,110 | -227,899 | | Net income from trading | 19,345,050 | 17,952,840 | | Other income | 403,974 | 163,433 | | Interest income | 109,053 | 70,567 | | Net gain (loss) on exchange rate changes | -826,195 | 391,350 | | Other financial income and expenses | 0 | -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 tax | 6,327,238 | 6,018,149 | | Income tax | -331,275 | -130,348 | | Profit for the accounting period | 5,995,963 | 5,887,801 | | Comprehensive income for the accounting period | 5,995,963 | 5,887,801 | | Basic and diluted earnings per share | 14.84 | 14.57 |
Further information: Sergei Bogatenkov
Chairman of the Management Board of Admiral Markets AS
ir@admiralmarkets.com
+372 6 309 300
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