Plus500 Continues Strong Performance in H1 2023 with 15% Increase in Revenue

Plus500, a global multi-asset fintech group operating technology-based trading platforms, released its trading update for the first half of the year ended June 30, 2023 (H1 2023), showing an increase of 15% in Revenue during the period compared to H2 2022.

Trading performance in H1 2023

• Revenue in H1 2023 totaled $368.5 million, rising by 15% compared to $321.2 million in H2 2022.

• EBITDA reached $174.1 million, an increase of 17% compared to $148.5 million in H2 2022. EBITDA margin was 47%, comparing to 46% in H2 2022.

• Customer income came in at $304.3 million for the period, increasing 2% compared to $299.8 million in H2 2022. While customer trading performance jumped 96% from $21.4 million in H2 2022 to $41.9 million.

• New customers in H1 2023 amounted to 50,449, comparing to 49,274 in H2 2022. The number of active customers was 175,762, dropping by 1% compared to 177,946 in H2 2022.

"Plus500 continued to perform strongly in the first half of 2023, building on the positive momentum achieved in recent years, leveraging our differentiated, market-leading, proprietary technology and benefiting from our increasingly diversified revenue streams, broadened product offering, deep customer relationships and the structural growth drivers in our end markets. We made significant progress in optimising our growth opportunities in the US and Japan, where we continue to make substantial investments to take advantage of the opportunities ahead," commented David Zruia, Chief Executive Officer at Plus 500. 

He added: "Our cash generative earnings model, combined with our continued strategic, operational and financial position, means that Plus500 is well placed to deliver sustainable growth in the medium to long term, enabling the Group to deliver further shareholder value in the future."