Plus500 Limited (LON:PLUS), a global multi-asset fintech group operating proprietary technology-based trading platforms, has issued 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.
