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)||31.12.2018||31.12.2017|
|ASSETS|| || |
|Current assets|| || |
|Cash and cash equivalents||22,205||22,002|
|Financial assets at fair value through profit or loss||10,997||3,361|
|Short-term loans, receivables and prepayments||1,639||4,247|
|Total current assets||34,902||29,610|
|Non-current assets|| || |
|Total non-current assets||4,512||992|
| || || |
|LIABILITIES|| || |
|Current liabilities|| || |
|Financial liabilities at fair value through profit or loss||176||177|
|Liabilities and prepayments||1,843||1,175|
|Total current liabilities||2,019||1,352|
|Long-term liabilities|| || |
|Subordinated debt securities||1,827|| 1,827|
|Total long-term liabilities||1,827||1,827|
| || || |
|EQUITY|| || |
|Statutory reserve capital||259||259|
| || || |
|TOTAL LIABILITIES AND EQUITY||39,414||30,602|
| || || |
| || || |
| || || |
Statement of Comprehensive Income
|(in thousands of euros)||2018||2017|
|Net gain from trading of financial assets at fair value through profit or loss with clients and liquidity providers||34,081||27,795|
|Brokerage fee income||85||71|
|Brokerage and commission fee expense||-9,960||-8,653|
|Other trading activity related income|| 74||167|
|Other trading activity related expense|| -44||-35|
|Net income from trading||24,236||19,345|
|Net gain (loss) on exchange rate changes||380||-826|
|Depreciation of fixed assets||-283||-200|
|Profit before income tax||9,804||6,327|
|Profit for the reporting period||9,470||5,996|
|Comprehensive income for the reporting period||9,470||5,996|
|Basic and diluted earnings per share||23.44|| |
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.
Communication manager of Admiral Markets AS
+372 53 413 764