Estonia-based Admiral Markets AS, which operates as Admirals, recorded a 255% increase in its net trading income in the first half (H1) of 2022.
The income skyrocketed from €9.1 million recorded in the first half of 2021 to €32.3 million within the same period this year.
This is according to data shared by the online trading provider in its unaudited interim report for January to June 2022.
The report shows that while Admiral Markets’ net profit surged 1512% to €23.3 million in the period (as against €1.6 million in H1 2022), earnings before interest, taxes, depreciation and amortization (EBITDA) climbed a further 3814% to €24.3 million against the previous year's €0.5 million.
Additionally, the company’s net profit surged 1512% to €23.3 million compared to 1.6 million recorded between January to June last year.
Furthermore, the value of trades placed on Admiral Markets’ platform rose 9% to €467 billion this year when compared to €429 billion from the same period in 2021.
On the contrary, the number of trades dropped 2% to 28.7 million compared to 2021 when it hit 29.2 million.
Also, the number of active clients, customers who traded at least once during the first half of the year, slashed 17% to 33,492 clients from 40, 235 clients recorded in the same period in 2021.
Similarly, the number of active accounts reduced by 15% to 41,227 accounts compared to 48,638 active accounts in the first half of 2021.
‘Exceptional Results’
As reported by Finance Magnates, this year Admiral Markets has procured new licenses in South Africa and Canada.
The company believes that these developments are 'eloquent success stories' that point to its strong business strategy and long-term goal to financially free 10 million people by 2030.
“Admirals' results are exceptional. Compared to the same period last year, Admirals has significantly increased its net trading income, trading volumes and net profit in the first half of the year, continuing large-scale investments in IT and innovation,” Admiral Markets said in a statement released on Wednesday.
Meanwhile, Jens Chrzanowski, a long-time executive of Admiral Markets has departed the company after 11 years of career experience at the brokerage.
Chrzanowski joined the financial services company in mid-2011 as the Regional Director of Germany, Austria, Switzerland and the Netherlands. He was appointed to the company’s board in early 2017.
On the other hand, earlier this month, Francisco Sánchez-Matamoros, a former Senior Sales Manager at the Polish retail broker, X-Trade Brokers’ (XTB) office in Madrid, joined Admiral Markets Group as the Country Manager in Spain.
