In the fourth quarter of 2021, Plus500 revealed its unaudited financials, which showed revenue of $161.1 million, a 75% increase over the previous year. On the other hand, the broker saw an 18% drop in overall yearly income.
The broker’s fourth quarter was excellent, with EBITDA coming in at $70.9 million, up 256% from the year before. The margin doubled to 44%.
The proportion of new clients onboarded during October and December fell to 34 percent, with a total of 33,187 active customers. Despite this, the average revenue per user increased by 119% to $937.
The Israeli broker generated $718.7 million in revenue and $387.1 million in EBITDA last year, 25% lower than the previous year’s figures. When compared to the pre-pandemic figure for 2019, both of these numbers have increased by a factor of two. The EBITDA margin remained high at 54%.
Plus500’s net profit for the year was $310.6 million, versus $500.1 million in 2020 and $151.7 million in 2019. The basic EPS was $3.06 for the year.
Plus500’s CEO, David Zruia, added that Plus500 delivered another outstanding operational and financial performance in 2021 and had made significant progress with its long-term strategy to establish itself as a prominent global multi-asset fintech firm.
With the Group’s strategic position improving in 2021 and an excellent start to the new financial year, the Board expects Plus500 to continue delivering long-term growth.
Share Buyback Continues
Plus500 announced that it would expand its share buyback program again, authorizing purchases for up to $55 million in shares. This will include a special share buyback program of $29.8 million to take advantage of the Israeli tax rate changes. The new buyback plan will continue through the year and conclude on December 31, 2022.
Meanwhile, the firm just acquired a new regulatory license in Estonia.
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