Revenues climbed by 65 per cent year-on-year to reach $720.4 million.
After having a record first half of the year, Plus500, an online contracts for difference (CFD) and Forex brokerage, has announced its preliminary unaudited results for 2018. As can be expected, the broker managed to report a strong uptick in its key metrics, including revenues.
Not only did Plus500 have a record first half of 2018, as Finance Magnates reported, the broker also managed to close the year out on solid footing. All in all, this performance led to revenues during the year climbing by 65 percent to reach $720.4 million, a record for the company, up from $437.2 million in 2017.
Net profit, which came in at $379 million for 2018, also recorded a significant jump of 90 percent when measured against the previous year. EBITDA also jumped by 95 percent, climbing from $259.2 million in 2017 to $506 million in 2018.
According to the statement released by the broker, the strong results were in part driven by an “exceptional” first quarter, which was largely thanks to an uptick in cryptocurrency trading. Furthermore, during the year Plus500 stock was officially listed on the FTSE 250 Index in September.
Although the company did see a drop in performance during the third quarter, with the implementation of Regulation from the European Securities and Markets Authority (ESMA) on August 1, 2018, Plus500 remained confident in its ability to recover in the final quarter of the year.
Plus500 Expects a Drop in 2019 Revenues and Profit
However, looking forward to 2019, the broker admits that it will not be able to maintain this level of performance. In fact, Plus500 believes that both revenue and profit for 2019 will be materially lower than current market expectations. This is due to the ESMA restrictions and the company’s plans to maintain its marketing spend.
Plus500 intends to partially offset this by increasing its global footprint, which will allow the firm to diversify its revenues outside of Europe, the statement said.
Nonetheless, so far, Plus500 has started off the new year with positive operational KPIs. Already, the broker’s new customer and active customer numbers, as well as the number of new trades opened, are ahead of the end of 2018.
Commenting on the results, Asaf Elimelech, the Chief Executive of Plus500 said: "We are pleased to report a year of record numbers and performance, well ahead of our original expectations. These results demonstrate both our strong operational performance and differentiation from our industry peers."
“Our focus on innovation and technology leadership continues to deliver benefits, through the acquisition of New Customers and the continued activity and increasing loyalty of existing ones, evident in the continued downward trend in customer churn."
"It was a momentous year as we successfully completed our move up to the premium listing segment of the Official List and to trading on the London Stock Exchange's Main Market for Listed Companies, with the subsequent inclusion in the FTSE250 - barely five years since our successful AIM IPO. This listing is already increasing interest in Plus500 and we expect it to further improve the trust and confidence of investors.”
Plus500 Appoints Steven Baldwin as Chair of the Nomination Committee
Today, Plus500 also revealed that it has appointed Steven Baldwin, a current non-executive director of the company, to Chair the Company’s Nomination Committee. Daniel King, who has been the Chair of the Nomination Committee up until now, will remain as a member of the committee.
After having a record first half of the year, Plus500, an online contracts for difference (CFD) and Forex brokerage, has announced its preliminary unaudited results for 2018. As can be expected, the broker managed to report a strong uptick in its key metrics, including revenues.
Not only did Plus500 have a record first half of 2018, as Finance Magnates reported, the broker also managed to close the year out on solid footing. All in all, this performance led to revenues during the year climbing by 65 percent to reach $720.4 million, a record for the company, up from $437.2 million in 2017.
Net profit, which came in at $379 million for 2018, also recorded a significant jump of 90 percent when measured against the previous year. EBITDA also jumped by 95 percent, climbing from $259.2 million in 2017 to $506 million in 2018.
According to the statement released by the broker, the strong results were in part driven by an “exceptional” first quarter, which was largely thanks to an uptick in cryptocurrency trading. Furthermore, during the year Plus500 stock was officially listed on the FTSE 250 Index in September.
Although the company did see a drop in performance during the third quarter, with the implementation of Regulation from the European Securities and Markets Authority (ESMA) on August 1, 2018, Plus500 remained confident in its ability to recover in the final quarter of the year.
Plus500 Expects a Drop in 2019 Revenues and Profit
However, looking forward to 2019, the broker admits that it will not be able to maintain this level of performance. In fact, Plus500 believes that both revenue and profit for 2019 will be materially lower than current market expectations. This is due to the ESMA restrictions and the company’s plans to maintain its marketing spend.
Plus500 intends to partially offset this by increasing its global footprint, which will allow the firm to diversify its revenues outside of Europe, the statement said.
Nonetheless, so far, Plus500 has started off the new year with positive operational KPIs. Already, the broker’s new customer and active customer numbers, as well as the number of new trades opened, are ahead of the end of 2018.
Commenting on the results, Asaf Elimelech, the Chief Executive of Plus500 said: "We are pleased to report a year of record numbers and performance, well ahead of our original expectations. These results demonstrate both our strong operational performance and differentiation from our industry peers."
“Our focus on innovation and technology leadership continues to deliver benefits, through the acquisition of New Customers and the continued activity and increasing loyalty of existing ones, evident in the continued downward trend in customer churn."
"It was a momentous year as we successfully completed our move up to the premium listing segment of the Official List and to trading on the London Stock Exchange's Main Market for Listed Companies, with the subsequent inclusion in the FTSE250 - barely five years since our successful AIM IPO. This listing is already increasing interest in Plus500 and we expect it to further improve the trust and confidence of investors.”
Plus500 Appoints Steven Baldwin as Chair of the Nomination Committee
Today, Plus500 also revealed that it has appointed Steven Baldwin, a current non-executive director of the company, to Chair the Company’s Nomination Committee. Daniel King, who has been the Chair of the Nomination Committee up until now, will remain as a member of the committee.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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