Plus500 revenues up 33% YoY in fiscal year, $200M profit for 2017

Plus500 fiscal year 2017 volumes

Retail FX and CFD broker Plus500 Ltd (LON:PLUS) has just released its annual report for 2017.

For the full year 2017, Plus500 brought in $437.2 million in Revenues and earned Net Profit of $199.7 million, both best-ever results for the Forex and CFDs broker.

The highlights for 2017 at Plus500 can be seen below:

Financial Highlights:

  • Revenue increased 33% to $437.2 million (2016: $327.9m)
  • EBITDA was $259.2 million (2016: $151.0m)
  • EBITDA Margin increased 29% to 59.3% (2016: 46.0%)
  • Net profit was $199.7 million (2016: $117.2m)
  • Earnings per share were $1.75 (2016: $1.02)
  • Cash generated from operations was $278.7m (2016: $153.3m)
  • AUAC lower due to efficient and successful marketing strategy together with the popularity of our cryptocurrency CFDs offering which attracted new customers mainly in Q4 2017
  • ARPU lower due to dilution from significant customer recruitment in Q4 2017

Operational Highlights:

  • Continued to expand international footprint and diversify revenues through new licenses in South Africa and Singapore
  • Another record year of strong customer growth in excess of expectations, reflecting effective marketing and robust business model:
  • Active Customers increased 103% to 317,175 (2016: 155,956)
  • New Customers increased 136% to 246,946 (2016: 104,432)
  • Maintained leadership in technology and product innovation:
  • Second largest CFD provider in the UK
  • Highest rated mobile platform among CFD traders in Australia
  • Leadership in technology and product innovation:
  • a majority of revenues and signups in 2017 (over 75%) originated from mobile devices, reflecting high speed of innovation
  • broad offering enables customers to participate in the volatility of multiple cryptocurrencies, without owning the underlying asset
  • maintained leadership as the highest rated app in its sector by customers on both Apple’s AppStore and Google’s Play Store
  • Increased international brand awareness having renewed partnerships as official main sponsors of Club Atlético de Madrid and the Plus500 Brumbies

Dividends and Share Buyback

  • Total dividend payout of $192.1 million, consisted of an interim dividend of $27.2 million, a final dividend of $92.6 million and a special dividend of $72.3 million
  • The Company bought back 980,146 Ordinary Shares (or 0.9%) in the capital of the Company for an aggregate purchase price of $7.5 million pursuant to share buyback programmes executed in 2017
  • Together the dividends and buyback represent a total pay-out of 100% of the 2017 net profit
  • Total distributions to shareholders in the five-year period since flotation, including dividends declared in February 2018, are $530.9 million, more than double the market capitalisation at flotation of $200 million

Penny Judd, Chairman of Plus500

Penny Judd, Chairman of Plus500, commented:

The Board is confident that Plus500’s competitive advantages, including its technology leadership and agile business model, position it well to adapt rapidly to regulatory changes and to emerge a stronger business with an enhanced market position.

We enter 2018 confident we can continue to develop our business to achieve our strategic goal of Plus500 being the number one global listed CFD provider, added Asaf Elimelech, Chief Executive Officer.

The complete Plus500 Annual report can be seen here.

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