Plus500 Sees 39% Decline in Revenue in H1 2021

Plus500, a retail Forex and CFDs broker, has released its interim results for the six month period ended 30 June 2021, reporting a significant drop in its revenue.

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According to the figures, the broker generated total revenue of $346.2 million in the six month period, which is a 39 percent decline from the previous year’s $564.2 million.

The company’s EBITDA for H1 2021 was $187.6 million, down from $361.8 million registered in the first half of 2020. Additionally, the EBITDA margin remained strong at 54 percent, recovering from 50 percent in the previous year-half.

Moreover, the broker highlighted a $165.1 million in net profit for the first six months of the ongoing year. In the previous year, the net income of the company was at $320 million for H1 and $180.1 million for H2.

Plus500 onboarded 136,980 new clients in the period, the figure was 198,176 in H1 2020 and 96,552 in H2 2020. The number of active customers increased to 333,940.

"Plus500's outstanding performance in H1 2021 was driven by the ability of our technology to capture the current market opportunities and to consistently provide high service levels to our customers,”said David Zruia, Chief Executive Officer.”Future growth will be delivered through continued organic investments in our business, our technology and targeted bolt-on acquisitions to further expand our CFD offering, launch new trading products, introduce new financial products and deepen engagement with our customers.”