The company announces a $110 million share buyback program as part of a larger $185.5 million shareholder return package.
In H1, Plus500 acquired 57,000 new clients, a 13% increase from the previous year.
Plus500 Ltd announced today (Tuesday) a new share buyback
program totaling up to $110 million. It follows a recently completed $100
million buyback initiative announced in February and is part of a larger $185.5
million shareholder return package unveiled in the company's H1 2024 results a few
weeks ago.
Plus500 Launches Next Share Buyback Program
“The newest share buyback, reflects the Group's robust
financial position, cash-generative business model and ongoing ability to
deliver strong shareholder returns over the medium-term,” the company commented
in the announcement.
Plus500 has a long history of buying back its own shares
from the market. Such actions usually have two goals: increasing value for
shareholders and allowing the company to use excess cash effectively. For
publicly traded companies, this is also an opportunity to gain tax benefits,
improve financial ratios, and consolidate ownership.
“As of 30 June 2024, the Group held over $1bn of its own
cash on its balance sheet for the first time, enabling it to pursue organic and
inorganic growth initiatives, whilst also delivering attractive and sustainable
returns to shareholders,” Plus500 added.
Under the program's terms, Plus500 is authorized to
repurchase up to 5,694,522 shares. The buyback will be executed in open market
transactions and managed by Panmure Liberum Limited, operating under
pre-defined parameters without discretionary input from Plus500 or its board members.
The program will run from today until March 31, 2025, with
the company retaining the right to continue purchases during any closed periods
within this timeframe. All repurchased shares will be classified as treasury
shares, with no dividend rights or voting privileges at general meetings.
How Do Plus500’s Financial Results Look?
Recent financial data for Plus500 reveals a mixed
performance. In the second quarter of 2024, the company generated revenue of
$182.6 million, marking a 14% increase compared to the same period last year. However,
this figure represents a 15.3% decrease from the $215.6 million earned in the
first quarter of 2024.
EBITDA followed a similar pattern, rising 11% year-over-year
to $81.3 million but falling 20.7% compared to the previous quarter. The quarter's EBITDA margin stood at 45%, which is 2 percentage points lower
than the same quarter in the previous year.
On a positive note, Plus500 saw growth in its customer base.
Between April and June, the company added 24,810 new customers, an improvement
from the 22,248 new customers acquired during the same period in 2023.
Plus500 maintains a high revenue per client metric,
currently at $3,115. However, it's worth noting that the company has been
surpassed in this regard by another publicly traded firm in London, CMC
Markets, whose value has increased to $5,816.
Plus500 Ltd announced today (Tuesday) a new share buyback
program totaling up to $110 million. It follows a recently completed $100
million buyback initiative announced in February and is part of a larger $185.5
million shareholder return package unveiled in the company's H1 2024 results a few
weeks ago.
Plus500 Launches Next Share Buyback Program
“The newest share buyback, reflects the Group's robust
financial position, cash-generative business model and ongoing ability to
deliver strong shareholder returns over the medium-term,” the company commented
in the announcement.
Plus500 has a long history of buying back its own shares
from the market. Such actions usually have two goals: increasing value for
shareholders and allowing the company to use excess cash effectively. For
publicly traded companies, this is also an opportunity to gain tax benefits,
improve financial ratios, and consolidate ownership.
“As of 30 June 2024, the Group held over $1bn of its own
cash on its balance sheet for the first time, enabling it to pursue organic and
inorganic growth initiatives, whilst also delivering attractive and sustainable
returns to shareholders,” Plus500 added.
Under the program's terms, Plus500 is authorized to
repurchase up to 5,694,522 shares. The buyback will be executed in open market
transactions and managed by Panmure Liberum Limited, operating under
pre-defined parameters without discretionary input from Plus500 or its board members.
The program will run from today until March 31, 2025, with
the company retaining the right to continue purchases during any closed periods
within this timeframe. All repurchased shares will be classified as treasury
shares, with no dividend rights or voting privileges at general meetings.
How Do Plus500’s Financial Results Look?
Recent financial data for Plus500 reveals a mixed
performance. In the second quarter of 2024, the company generated revenue of
$182.6 million, marking a 14% increase compared to the same period last year. However,
this figure represents a 15.3% decrease from the $215.6 million earned in the
first quarter of 2024.
EBITDA followed a similar pattern, rising 11% year-over-year
to $81.3 million but falling 20.7% compared to the previous quarter. The quarter's EBITDA margin stood at 45%, which is 2 percentage points lower
than the same quarter in the previous year.
On a positive note, Plus500 saw growth in its customer base.
Between April and June, the company added 24,810 new customers, an improvement
from the 22,248 new customers acquired during the same period in 2023.
Plus500 maintains a high revenue per client metric,
currently at $3,115. However, it's worth noting that the company has been
surpassed in this regard by another publicly traded firm in London, CMC
Markets, whose value has increased to $5,816.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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