The company's EBITDA for the year came in at $340 million.
The market expectations for revenue and EBITDA were $645 million and $300 million, respectively.
London-listed Plus50 (LON: PLUS) issued a trading update today (Monday), revealing an annual revenue of about $725 million for 2023, along with an EBITDA of approximately $340 million. The company highlighted that both figures are “significantly ahead of current market expectations.”
Strong Performance of Plus500
The latest figures came when Plus500 was anticipating to end the year with its revenue and EBITDA in line with market expectations, which were $645 million and $300 million, respectively. The brokerage highlighted that its balance sheet remained “robust”, with cash balances of about $900 million at the end of last year.
As Finance Magnates reported earlier, the Israeli broker ended the third quarter of 2023 with a revenue of $168.1 million and an EBITDA of $80.3 million. In the first half of the year, the broker generated $368 million in revenue, a decline of 28 percent from the corresponding period of the previous year. These figures suggest that its revenue for the fourth quarter came in at $188.9 million.
An Expanding Broker
Plus500 is expanding its presence in the US and other markets. Its ambitions to capture the US markets can be determined by its big-ticket sponsorship deal with Chicago Bulls, a prominent basketball team in the country. It is additionally diversifying its US business with both B2B and B2C offerings. According to the company, it offers B2B market infrastructure services for institutional clients in the US futures market.
“During FY 2023, Plus500 announced shareholder returns of approximately $350m split between dividends and share buybacks. These significant shareholder returns reflect the Group's ongoing financial strength, its operational resilience and the Board's continued confidence in the outlook for the Group,” the announcement noted.
Although headquartered in Israel, Plus500 is listed in London and is one of the very few publicly-listed retail multi-asset brokers offering forex and contracts for differences (CFDs) instruments. The share price of the company remained flat over a considerable period of one year. However, it gained 29 percent since mid-October last year.
“As the Group remains well positioned to continue executing against its strategic objectives, enabled by its market-leading technology and supported by its strong financial position, the Board looks to the year ahead with confidence,” the broker added.
London-listed Plus50 (LON: PLUS) issued a trading update today (Monday), revealing an annual revenue of about $725 million for 2023, along with an EBITDA of approximately $340 million. The company highlighted that both figures are “significantly ahead of current market expectations.”
Strong Performance of Plus500
The latest figures came when Plus500 was anticipating to end the year with its revenue and EBITDA in line with market expectations, which were $645 million and $300 million, respectively. The brokerage highlighted that its balance sheet remained “robust”, with cash balances of about $900 million at the end of last year.
As Finance Magnates reported earlier, the Israeli broker ended the third quarter of 2023 with a revenue of $168.1 million and an EBITDA of $80.3 million. In the first half of the year, the broker generated $368 million in revenue, a decline of 28 percent from the corresponding period of the previous year. These figures suggest that its revenue for the fourth quarter came in at $188.9 million.
An Expanding Broker
Plus500 is expanding its presence in the US and other markets. Its ambitions to capture the US markets can be determined by its big-ticket sponsorship deal with Chicago Bulls, a prominent basketball team in the country. It is additionally diversifying its US business with both B2B and B2C offerings. According to the company, it offers B2B market infrastructure services for institutional clients in the US futures market.
“During FY 2023, Plus500 announced shareholder returns of approximately $350m split between dividends and share buybacks. These significant shareholder returns reflect the Group's ongoing financial strength, its operational resilience and the Board's continued confidence in the outlook for the Group,” the announcement noted.
Although headquartered in Israel, Plus500 is listed in London and is one of the very few publicly-listed retail multi-asset brokers offering forex and contracts for differences (CFDs) instruments. The share price of the company remained flat over a considerable period of one year. However, it gained 29 percent since mid-October last year.
“As the Group remains well positioned to continue executing against its strategic objectives, enabled by its market-leading technology and supported by its strong financial position, the Board looks to the year ahead with confidence,” the broker added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Finalto Unveils Guidelines for Retail Brokers: "Compliance Is a Culture of Responsibility"
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
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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!
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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!
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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!
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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
📣 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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