13 January 2025
Plus500 Ltd.
("Plus500", the "Company" or,
together with its subsidiaries, the "Group") Year End Trading
Update
Further strategic,
operational and financial progress delivered Revenue for FY 2024
meaningfully ahead of market expectations
Plus500, a global multi-asset fintech group operating
proprietary technology-based trading platforms, today issues the
following trading update for the financial year ended 31 December
2024.
Strong financial and operational results with
revenue meaningfully ahead of market expectations
For FY 2024, the Group delivered strong financial
results including revenue[1] of approximately
$768m, generating EBITDA[2] of approximately
$342m.
The Group's financial position remained highly robust and debt-free with cash balances of
approximately $900m as of 31 December 2024.
The Group's sophisticated and proprietary marketing
technologies drove a significant increase in New
Customer[3] acquisition during the year,
including more than 36,000 New Customers in Q4 2024 alone, which
equates to an increase of c.45% versus Q3 2024. As the Group has
consistently demonstrated historically, current customer
acquisition lays the foundation for future performance, making it
an investment in Plus500's medium to long-term growth.
Notable strategic progress
During FY 2024, Plus500 delivered significant
progress across a wide range of technological developments, it
expanded its product offering and delivered excellent progress in
enhancing its existing market operations, including:
·
Post the period end, in
January 2025, the Group achieved a significant milestone by
obtaining a clearing membership with ICE Clear US, a premier global
exchange recognised for its innovation and reliability in financial
markets. This membership is an important achievement for Plus500,
bringing multiple benefits which include enabling the Group to
offer additional products to its customers, reducing costs to third
parties and bringing new holistic solutions to institutional
customers across multiple exchanges.
·
In January 2025, the Group
secured a new licence in the UAE from the Securities and
Commodities Authority ("SCA") allowing it
to offer OTC, share dealing, futures and options on futures
products. Obtaining the SCA licence further highlights the Group's
ability to execute against its strategic vision of consistently
improving its proposition in key markets. The new licence will
enable the Group to enhance its operations within the UAE and to
market itself more widely in the region.
Significant level of total shareholder returns
During FY 2024, Plus500 announced total shareholder
returns of $360.5m, providing further evidence of the Group's
financial strength, its operational progress and the Board's
continued confidence in the outlook for the Group. Driven by
attractive and sustainable returns, Plus500 has been the best
performing stock on the FTSE All-Share on a total return basis
since the Company's IPO in 2013.
2025 Outlook
Enabled by its market-leading technologies and
supported by its strong financial position, the Group remains well
positioned to continue executing against its strategic roadmap of
expanding into new markets, developing new products and deepening
engagement with customers, in turn driving growth and shareholder
value. 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.
Notice of Results
Plus500 will publish its Preliminary Results for FY
2024 on Tuesday 18 February 2025.
For further details:
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Plus500 Ltd.
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|
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Elad Even-Chen, Chief
Financial Officer
Owen Jones, Head of Investor
Relations
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+972 4 8189503
+44 (0) 7551 654208
ir@Plus500.com
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DGA
Group
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James
Melville-Ross
James Styles
Methuselah
Tanyanyiwa
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+44 (0)20 7664 5095
Plus500@dgagroup.com
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About Plus500
Plus500 is a global multi-asset fintech group
operating proprietary technology-based trading platforms. Plus500
offers customers a range of trading products, including OTC
("Over-the-Counter" products, namely Contracts for Difference
(CFDs)), share dealing, as well as futures and options on
futures.
The Group retains operating licences and is regulated
in the United Kingdom, Australia, Cyprus, Israel, New Zealand,
South Africa, Singapore, the Seychelles, the United States,
Estonia, Japan, the UAE and the Bahamas and through its OTC product
portfolio, offers more than 2,500 different underlying global
financial instruments, comprising equities, indices, commodities,
options, ETFs, foreign exchange and cryptocurrencies. Customers of
the Group can trade its OTC products in more than 60 countries and
in 30 languages.
Plus500's trading platforms are accessible from
multiple operating systems (iOS, Android and Windows) and web
browsers. Customer care is, and has always been, integral to
Plus500. As such, OTC customers cannot be subject to negative
balances. A free demo account is available on an unlimited basis
for OTC trading platform users and sophisticated risk management
tools are provided free of charge to manage leveraged exposure, and
stop losses to help customers protect profits, while limiting
capital losses.
Plus500 was admitted to trading on the London Stock
Exchange (LON: PLUS) on 24 July 2013. It was admitted to the Equity
Shares in Commercial Companies" ("ESCC") Category of the Official
List and is a constituent of the FTSE 250 Index. Website:
www.plus500.com.
Forward looking statements
This announcement contains statements that are or may
be forward-looking statements. All statements other than statements
of historical facts included in this announcement may be
forward-looking statements, including statements that relate to the
Group's future prospects, developments and strategies. The Company
does not accept any responsibility for the accuracy or completeness
of any information reported by the press or other media, nor the
fairness or appropriateness of any forecasts, views or opinions
express by the press or other media regarding the Group. The
Company makes no representation as to the appropriateness,
accuracy, completeness or reliability of any such information or
publication.
Forward-looking statements are identified by their
use of terms and phrases such as "believe", "targets", "expects",
"aim", "anticipate", "project", "would", "could", "envisage",
"estimate", "intend", "may", "plan", "will" or the negative of
those, variations or comparable expressions, including references
to assumptions. The forward-looking statements in this announcement
are based on current expectations and are subject to known and
unknown risks and uncertainties that could cause actual results,
performance and achievements to differ materially from any results,
performance or achievements expressed or implied by such
forward-looking statements. Factors that may cause actual results
to differ materially from those expressed or implied by such
forward looking statements include, but are not limited to, those
described in the Risk Management Framework section of the Company's
most recent Annual Report. These forward- looking statements are
based on numerous assumptions regarding the present and future
business strategies of the Group and the environment in which it is
and will operate in the future. All subsequent oral or written
forward-looking statements attributed to the Company or any persons
acting on its behalf are expressly qualified in their entirety by
the cautionary statement above. Each forward-looking statement
speaks only as of the date of this announcement. Except as required
by law, regulatory requirement, the Listing Rules and the
Disclosure Guidance and Transparency Rules, neither the Company nor
any other party intends to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.