Admirals Markets Reports EUR 3.9M Loss despite Surge in Active Clients

Admiral Markets has reported its financial results
for the first six months of 2023, highlighting mixed performance during this
period. Despite an increase in the number of active clients, the company posted
a net loss of EUR 3.9 million.

Admirals experienced a substantial surge in its client
base, with active clients and accounts increasing by 96% and 84%, respectively.
The number of new applications skyrocketed by 222%. The cost-to-income ratio
surged to 47%, reflecting the impact of reduced revenue on overall
profitability.

Sergei Bogatenkov, Admirals’ CEO and Chairman of the
Management Board mentioned: “Our global team is open to new possibilities
that the industry embodies. The creation of partnerships is crucial.
Business-to-Business-to-Everything will be one of the keywords defining the
future of value propositions, as it embodies the excellent potential for our
business.”

“We also believe mergers and acquisitions
provide significant opportunities for Admirals to accelerate growth and extend
our footprint in the industry.”

Expect ongoing updates as this story evolves.

Admiral Markets has reported its financial results
for the first six months of 2023, highlighting mixed performance during this
period. Despite an increase in the number of active clients, the company posted
a net loss of EUR 3.9 million.

Admirals experienced a substantial surge in its client
base, with active clients and accounts increasing by 96% and 84%, respectively.
The number of new applications skyrocketed by 222%. The cost-to-income ratio
surged to 47%, reflecting the impact of reduced revenue on overall
profitability.

Sergei Bogatenkov, Admirals’ CEO and Chairman of the
Management Board mentioned: “Our global team is open to new possibilities
that the industry embodies. The creation of partnerships is crucial.
Business-to-Business-to-Everything will be one of the keywords defining the
future of value propositions, as it embodies the excellent potential for our
business.”

“We also believe mergers and acquisitions
provide significant opportunities for Admirals to accelerate growth and extend
our footprint in the industry.”

Expect ongoing updates as this story evolves.