Broker Plus500 announced that its revenue for the financial year 2024 is meaningfully ahead of market expectations.
Plus500 Revenue ‘Meaningfully Ahead’ of Market Expectations
In a trading update on Monday, the company reported revenue of approximately $768 million, with an EBITDA of around $342 million, reflecting strong financial performance.
The company added that its financial position remains “highly robust” and debt-free, with cash balances of approximately $900 million as of 31 December 2024.
Furthermore, Plus500 said its proprietary marketing technologies contributed to a notable increase in new customer acquisitions, with over 36,000 new customers added in Q4 alone, marking a 45% increase compared to Q3.
The broker also highlighted that it returned a significant $360.5 million to shareholders in 2024, adding that it has been the best-performing stock on the FTSE All-Share in terms of total return since its IPO in 2013.
Looking ahead, Plus500 believes it remains well-positioned to continue executing against its strategic roadmap of expanding into new markets, developing new products and deepening engagement with customers.
“The Board looks to the year ahead with confidence as it expects the Group to continue making strong financial and strategic progress alongside delivering further shareholder returns,” concluded Plus500.
The company expects to publish its FY24 preliminary results on Tuesday, 18 February 2025.
