Plus500 reports strong H1 2024 results with increased revenue, EBITDA, and a $185.5 million shareholder return.
Plus500 reports strong H1 2024 results with increased revenue, EBITDA, and a $185.5 million shareholder return.
Plus500 has reported strong H1 results for the six months ending 30 June 2024, showcasing impressive growth. The company reported a revenue of $398.2 million, reflecting an 8% increase from $368.5 million in H1 2023. This growth is driven by $369.1 million in trading income and $29.1 million in interest income. Revenue for Q2 2024 alone reached $182.6 million, up from $160.6 million in Q2 2023, indicating robust quarterly performance.
The firm achieved an EBITDA of $183.9 million for H1 2024, a 6% increase from $174.1 million in the same period last year. The EBITDA margin slightly decreased to 46% from 47% in H1 2023. For Q2 2024, the EBITDA margin was 45%, compared to 46% in Q2 2023. Customer Income improved to $329.4 million, up from $304.3 million in H1 2023, with Q2 2024 contributing $159.8 million, an increase from $146.5 million in Q2 2023.
Customer Trading Performance declined to $39.7 million in H1 2024 from $41.9 million in H1 2023, but the company expects this to be broadly neutral over time. Net profit for the first half of 2024 was $148.8 million, an increase from $146.5 million in H1 2023, with basic EPS rising by 18% to $1.90.
Total assets grew to $1.106 billion, with equity of $701.8 million, representing approximately 63% of the balance sheet. Plus500 remains debt-free and held cash and cash equivalents of $1.007 billion as of 30 June 2024, up from $849.0 million a year earlier.
David Zruia, CEO of Plus500, expressed pride in the company’s performance, stating, “We have made substantial progress in H1 2024, achieving growth in revenue and EBITDA while expanding our market presence. Our strong financial position allows us to return $185.5 million to shareholders. We are confident that our full-year results will exceed current market expectations.”
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