Plus500 Achieves Strong Performance in H1 2022 with 48% YoY Jump in Revenue

Plus500, a global multi-asset fintech group operating technology-based trading platforms, today released its trading update for the six months ended 30 June 2022. The broker reported $511.4 million in revenue during the six months of 2022, a 48% jump compared to H1 2021.

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According to the official announcement, Plus500's EBITDA reached $305.3 million for the period, increasing 63% compared to the last year's $187.6 million. In Q2 2022, Plus500 posts revenue of $240.5 million and EBITDA of $143.7 million, up 68% and 118% respectively compared to the same period in the last year.

Plus500 onboarded 57,275 new customers during H1 2022, including 23,535 in Q2 2022. The group's base of Active Customers was 216,928 during H1 2022, including 145,506 in Q2 2022.

David Zruia, Chief Executive Officer, commented:"Plus500 continued to outperform in the first half of 2022, supported by positive momentum achieved in recent years and by the power of our market-leading proprietary technology. We made significant progress in delivering against our strategic priorities, in particular the major growth opportunities in the U.S., where we continue to make substantial investment."

"In addition, the group continued to deliver outstanding levels of returns to shareholders during the period, through both recent $60.0m dividend payments and our most recent $105.0m aggregate share buyback programmes, which emphasise the Board's view of the current value of the Company's shares. Our continued strategic, operational and financial momentum will ensure Plus500 delivers sustainable growth in the medium to long term, enabling the Group to deliver further shareholder value in the future."

Last month, Daniel King completed his maximum nine-year tenure as an Independent Non-Executive Director and External Director of Plus500's board.

Professor Jacob A. Frenkel, Chairman, commented:"On behalf of the Board, I would like to thank Daniel King for his valuable contribution to the success of Plus500 since his appointment to the Board at the time of the Company's IPO in 2013. His expertise working with international technology businesses, has been invaluable in helping to optimise the many opportunities that have arisen for the business during his tenure. In addition, his leadership, contribution and commitment as Chair of the Remuneration and ESG Committees has been extremely appreciated. We wish Daniel all the best for the future.”