Plus500 sees a 48% rise in revenue in H1 2022

Plus500 today posted its interim results for the first half of 2022. During the first six months of the year, the broker reported $511.4 million in revenues, registering a 48% increase compared to the first half of 2021.

The Israel-headquartered company also witnessed a rise in EBITDA. The numbers stood at $305.3 million in H1 2022, compared to the same period the previous year when it was $187.6 million.

H1 2022 EBITA margin reached 60% and basic earnings per share (EPS) was $2.46, 52% higher compared to $1.62 in H1 2021.

David Zruia, Chief Executive Officer, commented:

David Zruia, Plus500

David Zruia
Source: LinkedIn

Plus500 produced another outstanding performance in the first half of 2022, driven by the power of our market-leading proprietary technology and our consistent ability to attract and retain higher value customers over the long term. With continued operational and financial momentum being achieved, we also made substantial progress in delivering against our strategic priorities, in particular the major growth opportunities in the US, where we are continuing to make significant on-going investment, also by becoming a full clearing member of the CME Group exchanges.

plus500 revenue

Customer activity

While the financial results registered in uptick in the first half of the year, the London-listed company saw a drop in active customers, as well as new ones. During the period, the number of new customers fell 58% to 57,275, compared to 136,980 in H1 2021. The active customers on the platform stood at 216,928 in H1 2022, falling 35% comparted to the previous year.

Zuria added:

To highlight the Board’s view of the current value of the Company’s shares and our continued confidence in the future of Plus500, the Company has delivered further elevated levels of returns to shareholders so far this year, with $170.4m in respect of H1 2022, comprising interim dividend in the amount of $60.2m, a new share buyback programme in the amount of $60.2m and a special buyback programme of $50.0m announced in April 2022. The Board continues to expect that Plus500 will deliver sustainable growth over the medium to long term.

Plus500 recently announced a 68% YoY jump in revenue for the second quarter of the year. The broker also revealed its plans of US expansion with its new trading platform for the retail futures market in the US, expected to launch in the second half of the year.

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