In 2022, Admirals had a remarkable year, with total revenues reaching €69 million and net profits amounting to €24.1 million.
Admirals, the Estonia-based retail FX, and CFDs broker has revealed its financial results for 2022 so far. During the latter part of the year, the company brought in €26 million in revenue, but still registered a loss of €0.5 million. Compared to the first half of the year, Admirals Group AS’s overall income dropped by roughly 40%.
CEO of Admirals Group AS, Sergei Bogatenkov, said:
“Our business is back to full scale as we were in the pre-pandemic times. We are strongly focused on the development of IT and infrastructure, making sure that continuous R&D investments provide us with tools for further growth”.
In 2022, Admirals signed up 16,113 new customers, representing a 16% dip due to the pandemic’s consequences. Conversely, the total number of active customers surged 13% to 55,242. Every client conducted an average of 1,068 trades, while their net trading income per customer rose 72% to €1,249.
However, the client assets on the trading platform dropped 13% year-over-year to €86 million. Admirals noted that 7% of its customers are considered professionals and produce 25% of the gross trading revenue.
