Plus500 Records 13% Y/Y Fall in FY23 Revenue, Starts New $100M Share Buyback

Global multi-asset fintech group Plus500 has released its preliminary unaudited results for the year ended 31 December 2023 (FY23), indicating an overall drop across key financial metrics.

The group generated revenue of 726.2m in FY23, with trading income of $674.3m and interest income of $51.9m. This figure was 13 percent lower over $832.6m in FY22​.

EBITDA tumbled 25% on a yearly basis to $340.5m, with an EBITDA margin down from 55% to 47%. Net profit came in at $271.4m, compared to $370.4m in the prior year. Basic earnings per share dipped from $3.81 to $3.17.

Total assets on the group's balance sheet at the year end declined from $1,010.0m in FY22 to $1,004.7m. Plus500 acquired 90,944 new customers in the year, dropping 15% year-over-year. Active customer on the platform totaled 233,037, down 17%.

Additionally, Plus500 has has allocated an additional $100m for its share buyback programs, to return $175 million to the shareholders.