Admiral Markets Group, a multi-regulated FX and CFDs brokerage firm, has reported its financial results for the year ending December 2017, displaying record numbers across key components of its business on a year-over-year basis, per a corporate financial disclosure.
Compared to a period of flat growth in the 2012-2014 period, Admiral Markets has seen noticeable gains in its financial figures over the last three years. More specifically, during 2017 Admiral Markets disclosed a total operating revenue of $31.4 million (€27.0 million), which was up 17.3 percent year-over-year from $26.8 million (€23 million) in 2016. The figure is almost double the proceeds set back in 2014.
The company attributed its solid revenues to higher trading volumes, the introduction of new products, and improved marketing efforts.
Also, Admiral Markets saw its operating expenses ticking up in 2017, after seeing a figure of $22.1 million (€19.0 million) – this was up eight percent year-over-year from $20.5 million (€17.6 million) in 2016.
Meanwhile, the company’s net profit was reported at $7.6 million (€6.5 million) in 2017, which reflects a zero change when compared with the same figure it earned in the year prior.
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Coupled with this advance, Admiral Markets has registered an increasing number of active accounts with 25,800 from more than 100 countries as of December 31, 2017, growing steadily from 24,486 in 2016, or six percent year-over-year.
The domicile of account holders shows that the largest markets of Admiral Markets are Germany (15 percent), Poland (eight percent), the Czech Republic (eight percent), and Bulgaria (eight percent).
Breakdown of revenues and clients number
One of the group’s most noteworthy findings were the distribution of its revenues and client base.
Out of the aforementioned figure, 20,672 customer accounts belong to the company’s FCA-regulated arm, Admiral Markets UK Ltd, while the Estonia-based branch has a total of 4,086 active accounts.
But the earnings distribution didn’t match these rates. Specifically, the revenue of Estonia-based Admiral Markets AS increased in 2017 by 7.8 percent to €19.4 million (2016: €18 million), while the net profit was reported at €6.0 million from €5.9 the previous year. On the other end, the UK brokerage earned total proceeds of £5.51 million, or €6.3 million, and the bottom line figure came in at £429,878 (€490,000) in 2017.
Admiral Markets AS has three active branches in Romania, Poland, and the Czech Republic, and a representative office in Russia. The branches in Romania and the Czech Republic were closed in May as service in these countries will be provided on a cross-border basis.