Estonia-based Admirals Group AS operator of FX and CFDs broker brand Admirals, has released its financial metrics for the 2021.
The company saw a 43.9% fall in its annual revenue to €37 million. The previous year’s €66 million was largely attributed to the Covid-induced high market volatility.
Company net trading income stood at €35.7 million in 2021, 43% down compared to the €62.2 it recorded in 2020.
EBITDA shrunk 95% to €1 million last year. The total net profit came in at €0.1 million, falling significantly from €20.7 million the previous year.
Admiral Markets AS brought in €20.5 million of the total revenue. The Estonia-regulated entity of the group generated €0.9 million in net profit.
The company stated:
We’ve all seen how COVID-19 has shaken up the markets. The first half of 2020 was unique in terms of high market volatility, which made for a strong start for the trading year. Year 2021 brought low volatility on the financial and commodity markets which translated into a decline in revenue and profitability. Along with the lower volatility, the transaction activity of clients also decreased, but not significantly compared with the same period in 2020, and still impressively higher than in the 2019.
The value of trades decreased 16% to €842 billion compared to 2020 and the number of trades went down 22% to €52.1 million. However, the number of active clients was up 2% to 49,080 clients and number of active accounts rose 1% to 63,231 accounts.
The Group highlighted that the numbers of 2021 were significantly stronger when compared to pe-pandemic levels of 2019.
