Economia
Admirals Group AS audited annual report 2024
Despite lower client activity, Admirals Group AS delivered resilient trading income and positive EBITDA through effective cost control measures.
• The Group's net trading income decreased by 6% to EUR 38.4 million (2023: EUR 40.9 million), being supported by higher volatility on the financial markets.
• The Group's total operating expenses decreased by 16% to EUR 42.4 million (2023: EUR 50.3 million) as a result of cost optimisation efforts.
• EBITDA was EUR 0.9 million (2023: EUR -6.5 million).
• Net loss was EUR -1.6 million (2023: EUR -9.7 million).
Although the income was supported by higher volatility in financial markets, Group's cost optimisation effort was partly muted due to voluntary suspension of new client registrations in the Cyprus based operating company Admirals Europe Ltd. This company acts as the primary service entity of the Group in the EU which is one of the core markets for the Group's business. The suspension started in April 2024 is voluntary and temporary in nature and it was necessary to allow for the implementation of required technical and organisational measures to ensure satisfactory alignment of Group's product governance efforts with objectives and needs of it's European clients. Following the successful completion of these measures, the onboarding of new clients in the EU was resumed in March 2025.
Statement of Financial Position
Statement of Comprehensive Income
Additional information:
Lauri Reinberg
Chief financial officer of Admirals Group AS
lauri.reinberg@admiralmarkets.com
+372 6309 300
https://www.admirals.group/
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