Mon, January 30, 2023

Plus500 Ends 2022 with $832M in Revenue.

Plus500 website.

On Tuesday, Plus500 declared a year-end trading report displaying that the company’s revenue surged to $832 million for the financial year 2022 – an impressive 15.7% YoY growth! Furthermore, the EBITDA of the organization skyrocketed to a remarkable $454 million from an initial figure of $387.1 million.

Plus500 hits the revenue target.

The financial year saw the company’s expectations surpassed with remarkable figures, soaring by an impressive 68% each in the first two quarters. However, some difficulties during the third quarter resulted in a slight 8% decrease. 

Nevertheless, their final quarter revenue of $126.1 million was still better than last FY’s at $161.1 million – reiterating their prominent standing in this competitive market.

The Group achieved exceptional results in terms of operation and finance during FY 2022, which were on par with the market expectations they had earlier upgraded due to Plus500’s financial performance upsurge throughout 2021. The company, in its official statement, highlighted this. Even during the reduced trading activity in 2020, as anticipated due to the 2022 FIFA World Cup and similarly to past tournaments, the company still met its target.

Customer Metrics of Plus500

The London-listed broker reported a decline in customer income to $639 million compared to the previous year’s figure of $702.8 million, resulting in reduced annual revenue growth. 

Despite this, the trading platform experienced an influx of 106,000 new clients during last year’s fiscal period. From 196,336 in FY21, their active customer base dropped to 280,000 at the close of the year – a decrease from 407,374 like before.

The company is still in excellent financial health, with no debt or loan obligations. Moreover, their cash balance has grown to a staggering $900 million from the end of December 2021’s figure of $749.5 million – an impressive increase!

The Group’s exceptional performance during the year can be attributed to its reliable business model, cutting-edge proprietary technology, and enduring ability to acquire and maintain higher-value long-term customers. Additionally, they are diversifying their revenue streams, global reach, and overall plan of action.

To expand its presence in the US, the brokerage group acquired Cunningham in 2021. And for further growth opportunities, it introduced a one-of-a-kind futures trading platform to cater to American users during Q3 of 2022. 

After a 7-year partnership with Atletico Madrid, last October saw the Spanish football club conclude an agreement and shift towards signing a 4-year sponsorship deal with Chicago Bulls – America’s premier professional basketball team.

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