Admirals Posts 56% Decline in Net Trading Income in 2021

Estonia-based Admirals Group AS (formerly Admiral Markets Group), which operates FX and CFDs broker brand Admirals via subsidiary Admiral Markets AS, has released its full year 2021 results indicating a significant decline in revenues and profits.

Highlights

• Company net trading income was 20.5 EUR million (2020: EUR 47.1 million and 2019: EUR 23.2 million)

• EBITDA was 1.0 EUR million (2020: EUR 21.6 and 2019: EUR 5.8 EUR million)

• Net profit was 0.9 EUR million (2020: EUR 20.3 million and 2019: EUR 4.6 million)

• Value of trades went down 16% to EUR 842 billion comparing to period 2020 and up 43% compared to same period 2019 (2020: 998 billion and 2019: EUR 590 billion)

• Number of trades went down 22% to 52.1 million comparing to period 2020 and up 64% compared to same period 2019 (2020: 66.9 million and 2019: 31.8 million)

• Number of active clients in Group up 2% to 49,080 clients comparing to period 2020 and up 103% compared to same period 2019 ( 2020: 48,341, 2019: 24,148 active clients)

• Number of active accounts in Group up 1% to 63,231 accounts compared to same period of 2020 and up 107% compared to same period 2019 (2020: 62,854 and 2019: 30,523 active accounts)

• Number of new applications in Group up 32% to 123,714 applications compared to same period of 2020 and up 283% compared to same period 2019 ( 2020: 93,703 and 2019: 32,262 new applications)

"We've all seen how COVID-19 has shaken up the markets. The first half of 2020 was unique in terms of high market volatility, which made for a strong start for the trading year,"the group company stated."The year 2021 brought low volatility on the financial and commodity markets, which translated into a decline in revenue and profitability. Along with the lower volatility, the transaction activity of clients also decreased, but not significantly compared with the same period in 2020, and still impressively higher than in 2019."