Year End Trading Update

Plus500 Limited

13 January 2025

 

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:

Plus500 Ltd.
Elad Even-Chen, Chief Financial Officer   Owen Jones, Head of Investor Relations	[phone] [phone] [e-mail]
DGA Group
James Melville-Ross   James Styles   Methuselah Tanyanyiwa	[phone] [e-mail]

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.

---

[1] Revenue is comprised of trading income and interest income

[2] EBITDA - Revenue (trading income and interest income) minus operating expenses plus depreciation and amortisation

[3] New Customers - Customers depositing for the first time

 

END