Admirals Registers 23400% YoY Surge in Net Profit for 2022, with Net Trading Income up 93%

Admirals Group AS​, an Estonia based Retail FX and CFDs broker, has released its financial results for the full year 2022, showing that the broker has delivered a strong performance over the year.

Group net trading income for 2022 reached EUR 69.0 million, rising 93% from the prior year's EUR 35.7 million. Net profit enjoyed a significant yearly increase of 2560% to EUR 23.5 million, compared to that of EUR 0.1 million in 2021. EBITDA also registered a strong growth of 2560% from 2021's EUR 1.0 million to 26.6 EUR million, with EBITDA margin up 36% to 39% on a yearly basis.

Active clients for the year totaled 55,242, increasing 13% from that of 49,080 in 2021. The number of active accounts in the group went up by 11% year-over-year to 70,346. Besides, the group has acquired 16,113 new clients in 2022, down 16% from the prior year’s 19,128. New accounts opened totaled 78,790, growing 21% over the previous year.

"I am proud to say that in terms of business, 2022 has been beyond exceptional for Admirals. Amid uncertain times, Admirals set a profit record for operation," said Sergei Bogatenkov, CEO and Chairman of the Management Board Admirals Group AS.

"The strong results of 2022 set a powerful starting point for the future. We are focused on continuous investment in our people. As a purpose-driven company, we are developing our positive workspace and further establishing an inclusive, diverse community where everybody has a sense of belonging."