Abstract：EBITDA jumped by approximately 63%. Customer deposits reached the level of $1.2 billion.
One of the leading international multi-asset financial trading services providers, Plus500 published its interim financial results today for the six months ended 30 June 2022 (H1 2022). During the mentioned period, Plus500 reported revenues of $511.4 million, which is 48% higher compared to the same period last year.
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EBITDA came in at $305.3 million, compared to $187.6 million in the first half of 2021. The company also reported an EBITDA margin of 60%. Basic earnings per share (EPS) reached $2.46, which is 52% higher compared to $1.62 in H1 2021.
“Plus500 produced another outstanding performance in the first half of 2022, driven by the power of our market-leading proprietary technology and our consistent ability to attract and retain higher value customers over the long term. With continued operational and financial momentum being achieved, we also made substantial progress in delivering against our strategic priorities, in particular, the major growth opportunities in the US, where we are continuing to make a significant ongoing investment, also by becoming a full clearing member of the CME Group exchanges,” David Zruia, the Chief Executive Officer of Plus500, commented on the results.
While the company witnessed strong growth across key business segments, the number of active customers and new customers dropped in H1 2022 compared to the same period in 2021.
The total number of new customers during the mentioned period touched 57,275, compared to 136,980 in the first half of 2021.
“To highlight the Board's view of the current value of the Company's shares and our continued confidence in the future of Plus500, the Company has delivered further elevated levels of returns to shareholders so far this year, with $170.4m in respect of H1 2022, comprising interim dividend in the amount of $60.2m, a new share buyback program in the amount of $60.2m and a special buyback program of $50.0m announced in April 2022. The Board continues to expect that Plus500 will deliver sustainable growth over the medium to long term,” Zruia added.
The FX and CFDs broker reported £4.41 million in annual revenue, up from £3.99 million in the previous year, as reported on Companies House. ESMA guidelines were implemented in 2018, and since then, it has witnessed a rise in revenue.
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