Plus500 Ltd Reports Solid Financial Results for FY 2024

Plus500 Ltd (LON:PLUS) revealed its preliminary unaudited financial results for the year that ended 31 December 2024, demonstrating consistent growth across several key financial metrics.

For FY 2024, the Group saw a 6% year-on-year increase in revenue, reaching $768.3 million, driven by strong performance in trading income and interest income. Trading income totaled $711.6 million, up from $674.3 million in FY 2023, while interest income rose to $56.7 million, compared to $51.9 million the previous year. In Q4 2024 alone, revenue was $182.8 million, a slight decrease from $189.6 million in Q4 2023.

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the full year stood at $342.3 million, slightly higher than $340.5 million in FY 2023. This resulted in an EBITDA margin of 45%, compared to 47% in the prior year. Q4 2024 EBITDA came in at $76.2 million, with a margin of 42%, compared to $86.1 million and 45% in Q4 2023.

Customer income surged to $667.6 million in FY 2024, up from $600.1 million the year before. Notably, Q4 2024 saw customer income reach $171.9 million, an increase from $142.2 million in the same quarter of the prior year. However, the Group also reported a decline in Customer Trading Performance, which dropped to $44.0 million in FY 2024 from $74.2 million in FY 2023. Q4 2024 performance was mainly impacted, with a loss of $2.6 million compared to a $32.2 million profit in Q4 2023. Despite this, the Group expects customer trading performance to be broadly neutral over time.

Plus500 Ltd Reports Solid Financial Results for FY 2024

Net profit for the year was $273.1 million, reflecting a modest increase from $271.4 million in FY 2023. Basic earnings per share (EPS) rose to $3.57 from $3.17 in the prior year.

Regarding financial expenses, the Group reported net financial income of ($1.1 million) in FY 2024, a reversal from $0.2 million in FY 2023. Foreign exchange gains and losses primarily drove the negative financial income, as Plus500 actively manages its exposure to a range of operating currencies versus the US dollar. Plus500 holds a large portion of its cash reserves in US dollars to mitigate the impact of currency fluctuations.

As of 31 December 2024, the Group’s total assets amounted to $991.8 million, slightly down from $1,004.7 million the previous year. Equity stood at $644.3 million, representing approximately 65% of the balance sheet, down from 70% in FY 2023. The Group remains debt-free, with a strong cash and cash equivalents position of $890.0 million, compared to $906.7 million at the end of FY 2023.

Plus500 announced additional shareholder returns totaling $200.0 million to return value to shareholders. This includes a $110.0 million share buyback program and total dividends of $90.0 million, equating to $1.223 per share.

Commenting on the results, a spokesperson from Plus500 said, “We are pleased to report another year of solid growth, maintaining strong financial health despite the challenges of market volatility. We remain focused on delivering sustainable value for our shareholders and look forward to continuing to innovate and grow our business in the year ahead.”

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