Plus500 announced strong performance for the first half of 2024
Plus500 announced strong performance for the first half of 2024
Plus500, the global diversified fintech group, has released its trading results report for the first half of 2024, demonstrating significant financial and operational achievements despite challenging market conditions.
David Zruia, CEO, commented, "Plus500 has delivered excellent financial and operational results despite challenging market conditions. This underlines the resilience of our business model and our strategic focus on entering new markets and developing new products."
Financial performance:
- Revenue for the first half of 2024 reached $398.2 million, an 8% increase from $368.5 million in the first half of 2023.
- Revenue for the second quarter of 2024 was US$182.6 million, an increase of 14% compared to the second quarter of 2023.
- EBITDA for the first half of 2024 was US$183.9 million, a 6% increase from US$174.1 million for the first half of 2023.
- EBITDA margin remained strong at 46% for the first half of 2024.
Plus500 added 56,759 new customers in the first half of 2024, up 50,449 from the first half of 2023. The number of active customers also increased slightly to 175,909 in the first half of 2024.
The company emphasized its commitment to its strategic roadmap by leveraging its proprietary technologies to improve customer experience. Plus500 announced approximately $175 million in shareholder returns through dividends and share repurchases in the first half of 2024. The company repurchased more than 3.2 million shares at an average price of £19.73.
Plus500 confirmed that it remains optimistic about its future, underpinned by its strong financial position and advanced technology. The company expects to meet market expectations for revenue and EBITDA for the year. Official results for the first half of 2024 will be released on August 19, 2024.
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