Global multi-asset fintech group Plus500 today released a trading update stating the company expects revenue and EBITDA for 2022 to be “significantly” stronger than the current market expectations.
The broker highlighted that the trading expectations were largely driven by strong demand in in the second quarter, supported by current market conditions.
Israeli trading company anticipates to generate $628.4 million revenue in 2022 and EBITDA of $290.5 million.
LeapRate reported last month that Plus500’s revenue rose 68% in the first quarter of the year. The platform onboarded 33,740 new customers during the first three months of the year.
Plus500 stated:
The Group’s strong performance so far in FY 2022 has also been driven by the development of new proprietary technologies and product offerings, which will deliver growth and drive expansion and diversification across new geographies.
London-listed broker made significant steps in its global expansion. Plus500 entered Japanese trading market with the acquisition of EZ Invest.
The company added:
Plus500 will continue to build its strategic position as a global multi-asset fintech group, through organic investments and by actively targeting acquisitions, to help deliver sustainable growth over the medium to long term.
Plus500’s financial position remains very robust and the Group continues to be debt-free, with healthy cash balances driven by consistently high levels of cash generation.
