Plus500 (LON: PLUS) reported its full-year results for 2024,
showing revenue of $768.3 million, a 6% increase from the previous year, while
announcing new shareholder returns totaling $200 million.
Plus500 Reports 6% Revenue
Growth, Boosts Customer Base
The
company’s annual financial report indicates EBITDA of $342.3 million with a 45%
margin, compared to 47% in 2023. Earnings per share reached $3.57, representing
a 13% increase from the previous year. This confirms the trading update published in the first half of January, where the company stated that its revenue and EBITDA had exceeded “market expectations.”
The
financial services provider saw an expansion in its customer base, with new
customer numbers increasing to 118,010, up 30% from 2023. Active customers
totaled 254,138, marking a 9% rise. Customer deposits reached $3.0 billion,
with the average deposit per active customer at approximately $12,000.
“We
leveraged our proprietary marketing technology to significantly increase our
customer acquisition by 30% year-on-year and by 46% in Q4 2024 versus Q3. Our
commitment to continued strategic investment has established the foundations
for growth in future years,” said David Zruia, CEO of Plus500, in a statement
accompanying the results.
Plus500 Expands Beyond OTC
Trading With Japan, UAE Push
The
company’s diversification efforts showed in its revenue mix, with non-OTC
operations accounting for approximately 10% of total revenue and 15% of new
customer acquisition. Plus500 expanded its geographical footprint through
market entry in Japan and securing regulatory approval in the UAE.
Customer
retention metrics showed that 67% of OTC revenue came from customers who have
maintained accounts for more than three years. The company’s average revenue
per user stood at $3,023 for the period.
“Plus500
has successfully evolved from being a single product provider into a
market-leading, multi-asset fintech group,” added Zruia. “Today’s results
reflect much of that hard work and this transformation positions us well to
continue innovating and growing, whilst providing attractive and sustainable
returns for our shareholders.”
$200M Shareholder Return
The
announced shareholder returns package consists of $110 million in share
buybacks and $90 million in dividends. The company maintained its cash position
at $890 million as of December 31, 2024, with no outstanding debt.
“We are
pleased to announce today significant shareholder returns of $200.0”,
comprising share buybacks of $110.0M and dividends of $90.0M, which takes our
total shareholder returns to $2.5B since our IPO in 2013,” added the Plus500
CEO.
Plus500’s
inclusion in the STOXX Europe 600 Index in January 2025 marked a notable
development for the company’s market position. The firm’s regulatory status
expanded with new licenses, including clearing membership with ICE Clear US.
Plus500 (LON: PLUS) reported its full-year results for 2024,
showing revenue of $768.3 million, a 6% increase from the previous year, while
announcing new shareholder returns totaling $200 million.
Plus500 Reports 6% Revenue
Growth, Boosts Customer Base
The
company’s annual financial report indicates EBITDA of $342.3 million with a 45%
margin, compared to 47% in 2023. Earnings per share reached $3.57, representing
a 13% increase from the previous year. This confirms the trading update published in the first half of January, where the company stated that its revenue and EBITDA had exceeded “market expectations.”
The
financial services provider saw an expansion in its customer base, with new
customer numbers increasing to 118,010, up 30% from 2023. Active customers
totaled 254,138, marking a 9% rise. Customer deposits reached $3.0 billion,
with the average deposit per active customer at approximately $12,000.
“We
leveraged our proprietary marketing technology to significantly increase our
customer acquisition by 30% year-on-year and by 46% in Q4 2024 versus Q3. Our
commitment to continued strategic investment has established the foundations
for growth in future years,” said David Zruia, CEO of Plus500, in a statement
accompanying the results.
Plus500 Expands Beyond OTC
Trading With Japan, UAE Push
The
company’s diversification efforts showed in its revenue mix, with non-OTC
operations accounting for approximately 10% of total revenue and 15% of new
customer acquisition. Plus500 expanded its geographical footprint through
market entry in Japan and securing regulatory approval in the UAE.
Customer
retention metrics showed that 67% of OTC revenue came from customers who have
maintained accounts for more than three years. The company’s average revenue
per user stood at $3,023 for the period.
“Plus500
has successfully evolved from being a single product provider into a
market-leading, multi-asset fintech group,” added Zruia. “Today’s results
reflect much of that hard work and this transformation positions us well to
continue innovating and growing, whilst providing attractive and sustainable
returns for our shareholders.”
$200M Shareholder Return
The
announced shareholder returns package consists of $110 million in share
buybacks and $90 million in dividends. The company maintained its cash position
at $890 million as of December 31, 2024, with no outstanding debt.
“We are
pleased to announce today significant shareholder returns of $200.0”,
comprising share buybacks of $110.0M and dividends of $90.0M, which takes our
total shareholder returns to $2.5B since our IPO in 2013,” added the Plus500
CEO.
Plus500’s
inclusion in the STOXX Europe 600 Index in January 2025 marked a notable
development for the company’s market position. The firm’s regulatory status
expanded with new licenses, including clearing membership with ICE Clear US.
This post is originally published on FINANCEMAGNATES.
