Admiral Markets AS 2025 Unaudited 6 Months Financial Results

Admiral Markets AS 2025 Unaudited 6 Months Financial Results

In a period marked by lower client trading activity in the Group's core European markets, Admiral Markets AS demonstrated its commitment to operational discipline and strategic realignment.

• Net trading income was EUR 4.1 million (6M 2024: EUR 6.9 million).
• Net loss was EUR -3.5 million (6M 2024: net profit EUR 0.9 million).
• The number of active clients stood at 23,190. The Group is now focused on rebuilding and expanding its client base following a temporary strategic pause.

In 2024, Admirals voluntarily suspended the onboarding of new European clients for Admirals Europe Ltd. in alignment with recommendations from the CySEC regulator. This temporary measure reflected our commitment to maintaining the highest standards of regulatory compliance and client trust.

After successfully implementing all required measures, Admirals resumed client onboarding in the EU in March 2025, re-engaging with a key market. User acquisition efforts intensified in the second quarter of 2025, reinforcing our position as a trusted multi-asset investment brokerage and responsible partner.

The Group remains confident in its future and diversified strategy, underpinned by market-leading trading technology, a robust financial position, and operational progress achieved in recent years. Admirals is well-positioned for sustainable growth, with a clear focus on aligning with client objectives and creating long-term value for stakeholders.

Statement of Financial Position

(in thousands of euros)	30.06.2025	31.12.2024
Assets
Due from credit institutions	26,065	19,381
Due from investment companies	11,692	13,362
Financial assets at fair value through profit or loss	910	1,602
Loans and receivables	25,390	29,231
Inventories	259	665
Other assets	681	650
Investment into subsidiaries	4,180	4,180
Tangible fixed assets	1,212	1,041
Right-of-use asset	1,515	1,757
Intangible fixed assets	2,322	2,821
Total assets	74,226	74,690
Liabilities
Financial liabilities at fair value through profit or loss	328	333
Liabilities and prepayments	4,090	744
Subordinated debt securities	1,347	1,347
Lease liabilities	1,767	2,025
Total liabilities	7,532	4,449
Equity
Share capital	2,586	2,586
Statutory reserve capital	259	259
Retained earnings	63,849	67,396
Total equity	66,694	70,241
Total liabilities and equity	74,226	74,690

Statement of Comprehensive Income

(in thousands of euros)	30.06.2025	30.06.2024
Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers	13,917	21,954
Brokerage and commission fee revenue	413	656
Brokerage and commission fee expense	-10,308	-15,951
Other trading activity related income	142	248
Other trading activity related expense	-48	0
Net income from trading	4,116	6,907
Other income similar to interest	0	38
Interest income calculated using the effective interest method	569	633
Interest expense	-73	-78
Other income	216	212
Other expense	0	0
Net gains on exchange rate changes	-631	121
Net loss from financial assets at fair value through profit or loss	-94	-145
Personnel expenses	-1,986	-2,158
Operating expenses	-4,560	-3,695
Depreciation of tangible and intangible assets	-861	-738
Depreciation of right-of-use assets	-243	-242
(Loss) / Profit before income tax	-3,547	855
Income tax	0	0
Net (loss) / profit for the reporting period	-3,547	855
Comprehensive income for the reporting period	-3,547	855
Basic and diluted earnings per share	-8.78	2.12

Additional information:

Alexander Tsikhilov
Chairman of the Management Board of Admirals Group AS
[e-mail]
[phone]
https://www.admirals.group/