Published: 2019-03-26 18:01:29 CET
Admiral Markets
Annual Financial Report

Admiral Markets AS Audited Annual Report 2018

Admiral Markets AS made a record-breaking revenue and profits in 2018

Admiral Markets AS earned record revenue and profits in 2018. Net trading income of the company increased to 24.2 million euros in 2018, which is 4.9 million euros more than a year ago.  The growth in net trading income can mainly be attributed to an increase in the number of active clients in the Group, but also to high-value clients trading more. The company’s net profit was 9.5 million euros, or 58% higher compared to 6.0 million euros a year earlier. The company’s net profit margin increased to 39% from 31% a year earlier. The cost to income ratio fell to 63% by the end of 2018. The return on equity of Admiral Markets AS was 30.1% at the end of 2018.

Admiral Markets Group AS, the parent company of Admiral Markets AS, also showed record results in 2018. The consolidated net trading income of Admiral Markets Group AS increased to 32.6 million euros in 2018, which is 5.6 million euros more than a year earlier. The consolidated net profit of the Group was 10.3 million euros, or 58% more than 6.5 million euros a year before. The value of trades increased 41% to 572 billion euros in 2018. The Group had circa 22,300 active clients in 2018, a 10% increase compared to the year before. The clients of Admiral Markets made over 30 million trades in 2018.  

„2018 was extremely successful and we are very pleased with the results of Admiral Markets AS and Admiral Markets Group AS for the highest revenue and profit figures ever. The previous year was mostly characterised by strengthening and increasing Admiral Markets AS and other Group investment companies’ positions in Europe,” said Sergei Bogatenkov, Chairman of the Board of Admiral Markets AS. “Our record results are based on  the addition of new financial instruments to our product portfolio and on our excellent customer service. Also, we have focused on the development of our trading technology and great marketing activities. All of those actions combined have brought the record results of 2018,“ added Bogatenkov.  

In 2019 Admiral Markets shall continue with the implementation of global strategy in order to expand to new markets. In addition, offers to institutional and professional customers will be increased to grow their share in the corporate client portfolio.

Statement of Financial Position

(in thousands of euros)31.12.201831.12.2017
ASSETS  
Current assets  
Cash and cash equivalents22,20522,002
Financial assets at fair value through profit or loss10,9973,361
Short-term loans, receivables and prepayments1,6394,247
Inventories610
Total current assets34,90229,610
Non-current assets  
Long-term loans2,500451
Long-term investments050
Tangible assets1,267398
Intangible assets74593
Total non-current assets4,512992
TOTAL ASSETS39,41430,602
   
LIABILITIES  
Current liabilities  
Financial liabilities at fair value through profit or loss176177
Liabilities and prepayments1,8431,175
Total current liabilities2,0191,352
Long-term liabilities  
Subordinated debt securities1,827 1,827
Total long-term liabilities1,8271,827
TOTAL LIABILITIES3,8463,179
   
EQUITY  
Share capital2,5862,586
Statutory reserve capital259259
Retained earnings32,72424,579
TOTAL EQUITY35,56827,423
   
TOTAL LIABILITIES AND EQUITY39,41430,602
   
   
   

Statement of Comprehensive Income

(in thousands of euros)20182017
Net gain from trading of financial assets at fair value through profit or loss with clients and liquidity providers34,08127,795
Brokerage fee income8571
Brokerage and commission fee expense-9,960-8,653
Other trading activity related income                   74167
Other trading activity related  expense -44-35
Net income from trading24,23619,345
Other income475502
Other expense-98-98
Interest income166109
Interest expense-1470
Net gain (loss) on exchange rate changes380-826
Personnel expenses-5,082-5,257
Operating expenses-9,843-7,248
Depreciation of fixed assets-283-200
Profit before income tax9,8046,327
Income tax-334-331
Profit for the reporting period9,4705,996
Comprehensive income for the reporting period9,4705,996
Basic and diluted earnings per share23.44 
 
14.84


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

Under the international financial services trademark of Admiral Markets, customers are offered Forex and leveraged Contract for Difference (CFD) web-based trading service in the over-the-counter market as well as listed instruments. Since the foundation in 2001, Admiral Markets has continually expanded its reach, and today it services worldwide through regulated trading companies.

Investment company Admiral Markets AS, established in Estonia, is a branch of Admiral Markets 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. Admiral Markets Group AS is physically represented in 16 countries through its regulated trading companies with a customer portfolio covering over 120 countries.

Additional information:

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

Attachment


Annual Report 2018.pdf