The positive outcome contrasts with earlier projections, as Plus500 initially anticipated ending the year with revenue and EBITDA in line with market expectations, set at $645 million and $300 million, respectively. The brokerage emphasised the resilience of its balance sheet, noting its robust nature, with cash balances reaching approximately $900 million at the close of…
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The Israeli-based broker reported EBITDA of $100.9 million for the period, registering a 116% million from Q4’s $46.7 million. Compared to the first quarter of last year, however, the figure dropped 37.6%. Customer activity During the first quarter of 2023, the London-listed company onboarded 28,201 new customers. This 16.4% lower than the 33,740 accounts added…
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The recent buyback program started after completing another $60.2 million buyback program in November. The Israeli-based broker said in the official statement: The purpose of this Share Buyback Programme is to further highlight the Board's continued confidence in the future prospects of Plus500 and reflects its strong financial position. This confidence is supported by the…
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Final share buyback program The London-listed broker also reported a $100 million distribution to investors of final and special share buybacks and dividends. Plus500 today announced a final share buyback program to purchase $42.4 million worth of company shares and a special buyback program of $27.6 million. The firm will also pay out final dividend…
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David Zruia, CEO of Plus500, commented: We are delighted to have received licence authorisation from the DFSA in the UAE and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our…
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In 2022, EBITDA of the London-listed broker grew to $454 million from $387.1 million. Additionally, the company’s balance sheet remained strong as the Group continued to hold no loans or debt. The cash balance reached more than $900, compared to $749.5 million at the end of December 2021. Plus500 stated: The Group delivered an excellent…
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David Zruia, Chief Executive Officer, commented: We are very excited about the launch of '+Insights', which is the latest realisation of our strategy for Plus500 to further develop our position as a global multi-asset fintech group, offering our international customer base a diverse range of products and ensuring we continue to provide them with a…
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Plus500 stated: The purpose of the Share Buyback Programme is to highlight further the Board's continued confidence in the future prospects of Plus500 and reflects its strong financial position. This confidence is supported by the significant operational and financial momentum achieved by Plus500 over recent years, as the Group continues to make further progress on…
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Customer income for Q3 2022 stood at $149.4 million, slightly down from Q3 2021’s $156.9 milllion. Plus500’s CEO, David Zruia, commented: Plus500 has continued to outperform in 2022, driven by the power of our market-leading proprietary technology and our on-going ability to attract and retain higher value, long-term customers. We have made further traction in…
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Customer activity While the financial results registered in uptick in the first half of the year, the London-listed company saw a drop in active customers, as well as new ones. During the period, the number of new customers fell 58% to 57,275, compared to 136,980 in H1 2021. The active customers on the platform stood…
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