Plus500 (LON: PLUS) reported its full-year results for 2024, showing revenue of $768.3 million, a 6% increase from the previous year, while announcing new shareholder returns totaling $200 million.

Plus500 Reports 6% Revenue Growth, Boosts Customer Base

The company’s annual financial report indicates EBITDA of $342.3 million with a 45% margin, compared to 47% in 2023. Earnings per share reached $3.57, representing a 13% increase from the previous year. This confirms the trading update published in the first half of January, where the company stated that its revenue and EBITDA had exceeded “market expectations.”

The financial services provider saw an expansion in its customer base, with new customer numbers increasing to 118,010, up 30% from 2023. Active customers totaled 254,138, marking a 9% rise. Customer deposits reached $3.0 billion, with the average deposit per active customer at approximately $12,000.

“We leveraged our proprietary marketing technology to significantly increase our customer acquisition by 30% year-on-year and by 46% in Q4 2024 versus Q3. Our commitment to continued strategic investment has established the foundations for growth in future years,” said David Zruia, CEO of Plus500, in a statement accompanying the results.

Plus500 Expands Beyond OTC Trading With Japan, UAE Push

The company’s diversification efforts showed in its revenue mix, with non-OTC operations accounting for approximately 10% of total revenue and 15% of new customer acquisition. Plus500 expanded its geographical footprint through market entry in Japan and securing regulatory approval in the UAE.

Customer retention metrics showed that 67% of OTC revenue came from customers who have maintained accounts for more than three years. The company’s average revenue per user stood at $3,023 for the period.

“Plus500 has successfully evolved from being a single product provider into a market-leading, multi-asset fintech group,” added Zruia. “Today’s results reflect much of that hard work and this transformation positions us well to continue innovating and growing, whilst providing attractive and sustainable returns for our shareholders.”

$200M Shareholder Return

The announced shareholder returns package consists of $110 million in share buybacks and $90 million in dividends. The company maintained its cash position at $890 million as of December 31, 2024, with no outstanding debt.

“We are pleased to announce today significant shareholder returns of $200.0”, comprising share buybacks of $110.0M and dividends of $90.0M, which takes our total shareholder returns to $2.5B since our IPO in 2013,” added the Plus500 CEO.

Plus500’s inclusion in the STOXX Europe 600 Index in January 2025 marked a notable development for the company’s market position. The firm’s regulatory status expanded with new licenses, including clearing membership with ICE Clear US.

This article was written by Damian Chmiel at www.financemagnates.com.BrokersRead More

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