Plus500 reports strong 2024 financial growth with higher revenue, profits, and shareholder returns while remaining debt-free.
Plus500 reports strong 2024 financial growth with higher revenue, profits, and shareholder returns while remaining debt-free.
Plus500 reports 2024 financial growth as revenue rises 6% year-over-year, reaching $768.3 million from $725.0 million in 2023. The company’s strong performance reflects steady expansion and profitability.
This included trading income of $711.6 million and interest income of $56.7 million. However, revenue for the fourth quarter declined slightly to $182.8 million compared to $189.6 million in Q4 2023. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 stood at $342.3 million, a slight increase from $340.5 million in the previous year.
The EBITDA margin for the year was 45%, down from 47% in 2023, reflecting a marginal decline in profitability. Q4 EBITDA was reported at $76.2 million, with an EBITDA margin of 42%, compared to $86.1 million and 45% in the same quarter of 2023. Customer income, which reflects the revenue generated from client activity, rose significantly to $667.6 million, up from $600.1 million in 2023.
This included $171.9 million in Q4, compared to $142.2 million in the same period last year. Meanwhile, customer trading performance, which represents gains or losses from client trading positions, declined to $44.0 million from $74.2 million in 2023.
The fourth quarter reported a negative performance of ($2.6 million), compared to $32.2 million in Q4 2023. Plus500 expects customer trading performance to remain neutral in the long run. Net profit for 2024 was recorded at $273.1 million, slightly improving from $271.4 million the previous year. Basic earnings per share increased to $3.57 from $3.17 in 2023. Financial expenses saw a shift, with net financial income of ($1.1 million), primarily due to foreign exchange gains and losses as the company manages currency exposure.
By the end of 2024, Plus500 valued its total assets at $991.8 million and recorded $644.3 million in equity, making up 65% of the balance sheet. The company maintained its debt-free status, holding cash and cash equivalents of $890.0 million. In line with its commitment to shareholder returns, Plus500 announced a total distribution of $200.0 million, consisting of $110.0 million in share buybacks and $90.0 million in dividends, translating to $1.223 per share.
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