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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