Admiral Markets AS unaudited 12 months financial results of 2021
2021 was the most successful for Admirals in terms of new client applications
As another success story for Admirals performance in 2021, our ongoing substantial investment in development and IT, as well as our expansion into new regions and strategic services added to the portfolio, has allowed for a wider customer base to enter the financial world.
The extreme volatility of 2020 laid a solid foundation for future trading and investment practices among millions of people around the world, and this can clearly be seen in today’s ever-growing trading volumes. 2020 was an extreme year for the financial sector relative to the comparatively moderate trading landscape of 2019, reflecting real trends.
“We have kept our costs at 2020’s level while making significant investments in development and infrastructure. We introduced a wide range of new services and products in our portfolio, keeping pace with customer interest in cryptocurrency. These steps, and more, have increased our global presence in the FinTech sector,” said Sergei Bogatenkov, CEO of Admirals.
Trading levels normalized to record volumes in 2020. The Group’s trading revenue was 37 million euros, compared to 66 million euros in the same period in 2020. The number of new applications increased by 32% compared to 2020. The Group’s net profit for the year ended was 0,9 million euros (2020: 20,3 million euros).
A key point of the past year’s performance is our continued contribution to cultural and educational life. For Admirals, financial literacy is one of the cornerstones of our long-term vision, leading to a variety of educational and mentoring programs. Eesti Kontsert and our strategic partner kood.tech in Jõhvi, stand for the sustainability of Estonian culture and programming education.
According to Sergei Bogatenkov, “the company has experienced success in its journey to become a financial centre. And our excellent performance during turbulent times, producing unique results and, most importantly, seeing the relevance of our vision, long-term goals, and strategic plan was undeniable. I am grateful to our global team, partners and investors, with whom we will continue to shake up the financial world and stand up for an innovative, unified, and personal experience in finance.”
Statement of Financial Position
| (in thousands of euros) | 12/31/2021 | 6/30/2021 | 12/31/2020 | |||||||||
| Assets | ||||||||||||
| Due from credit institutions | 4.696 | 10.141 | 25.742 | |||||||||
| Due from investment companies | 18.292 | 16.106 | 15.120 | |||||||||
| Financial assets at fair value through profit or loss | 9.998 | 10.411 | 10.248 | |||||||||
| Loans and receivables | 16.097 | 10.437 | 6.730 | |||||||||
| Inventories | 48 | |||||||||||
| Other assets | 1.903 | 2.584 | 1.390 | |||||||||
| Investments into associates | 0 | 1.548 | 1.375 | |||||||||
| Investments into subsidiaries | 4.180 | 4.180 | 4.180 | |||||||||
| Tangible fixed assets | 1.644 | 1.692 | 1.614 | |||||||||
| Right-of-use asset | 3.147 | 3.934 | 4.213 | |||||||||
| Intangible fixed assets | 3.070 | 2.083 | 824 | |||||||||
| Total assets | 63.075 | 63.116 | 71.436 | |||||||||
| Liabilities | ||||||||||||
| Financial liabilities at fair value through profit or loss | 637 | 274 | 219 | |||||||||
| Liabilities and prepayments | 1.381 | 3.503 | 7.317 | |||||||||
| Subordinated debt securities | 1.827 | 1.827 | 1.827 | |||||||||
| Lease liabilities | 3.375 | 4.157 | 4.396 | |||||||||
| Total liabilities | 7.220 | 9.761 | 13.759 | |||||||||
| Equity | ||||||||||||
| Share capital | 2.586 | 2.586 | 2.586 | |||||||||
| Statutory reserve capital | 259 | 259 | 259 | |||||||||
| Retained earnings | 53.010 | 50.510 | 54.832 | |||||||||
| Total equity | 55.855 | 53.355 | 57.677 | |||||||||
| Total liabilities and equity | 63.075 | 63.116 | 71.436 | |||||||||
| (in thousands of euros) | 12M 2021 | 6M 2021 | 6M 2020 | |||||||||
| Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers | 36.882 | 17.895 | 39.878 | |||||||||
| Brokerage and commission fee revenue | 1.935 | 28 | 57 | |||||||||
| Brokerage and commission fee expense | -18.439 | -8.855 | -8.338 | |||||||||
| Other trading activity related income | 156 | 6 | 12 | |||||||||
| Other trading activity related expense | -4 | -3 | -18 | |||||||||
| Net income from trading | 20.53 | 9.071 | 31.591 | |||||||||
| Other income | 2.624 | 421 | 611 | |||||||||
| Other expense | -52 | -52 | -237 | |||||||||
| Interest income calculated using the effective interest method | 251 | 106 | 48 | |||||||||
| Other income similar to interest | 185 | 93 | 98 | |||||||||
| Interest expense | -229 | -118 | -122 | |||||||||
| Net gains/(losses) on exchange rate changes | 867 | 413 | -250 | |||||||||
| Net loss from financial assets at fair value through profit or loss | -349 | |||||||||||
| Personnel expenses | -4.638 | -2.662 | -3.950 | |||||||||
| Operating expenses | -16.482 | -7.673 | -7.855 | |||||||||
| Depreciation of tangible and intangible assets | -687 | -333 | -292 | |||||||||
| Depreciation of right-of-use assets | -533 | -279 | -263 | |||||||||
| Profit (loss) before income tax | 1.487 | -1.013 | 19.379 | |||||||||
| Income tax | -567 | -567 | -266 | |||||||||
| Net profit (loss) for the reporting period | 920 | -1.580 | 19.113 | |||||||||
| Comprehensive income (loss) for the reporting period | 920 | -1.580 | 19.113 | |||||||||
| Basic and diluted earnings (loss) per share | 2.28 | -3.91 | 47.31 | |||||||||
The reports of Admiral Markets AS are available on the following website: http://admiralmarketsgroup.com/en/admiral-markets-as/reports/.
Admirals is a global FinTech and investment firm whose regulated subsidiaries offer smart solutions for multiple financial products. Since the foundation in 2001, Admirals 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 Admirals 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. Admirals cares about the success of their partners, therefore they offer numerous tried-and-tested marketing tools, state-of-the-art software, and quality assurance.
Today, Admirals consists of a staff of over 400 people, located in 18 offices worldwide, making it a truly global organization.
Additional information:
Kaia Gil
Communication manager of Admiral Markets AS
kaia.gil@admiralmarkets.com
+372 53 413 764
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