Admiral Markets AS reported a sharp reversal in 2025,
registering a net trading income of EUR -1 million, down from EUR
13.5 million a year earlier. The Estonia-based CFD broker blamed reduced trading in
its core European markets and the ongoing impact from an earlier temporary halt in new
EU clients.
Trading Income Collapses, Loss Widens
According to the unaudited results announced Thursday, net gains from trading with clients and liquidity providers
fell to EUR 18.5 million from EUR 37.4 million, a decline of roughly 51%. At
the bottom line, Admiral Markets posted a net loss of EUR 16.2 million,
compared with a net profit of EUR 0.355 million in 2024.
Meanwhile, earnings per share fell from EUR 0.88 to EUR -40. Despite the personnel expenses declining by about 5% to EUR 3.8 million from EUR 4
million, operating expenses rose around 22% to EUR 9.3 million from EUR 7.6
million.
Read more: Admirals Cancels UAE License While Selling Australian Subsidiary
Interest income also turned from a positive contribution to
a drag. Interest income calculated using the effective interest method moved
from EUR 1.4 million in 2024 to EUR -1.0 million in 2025. Net gains on exchange
rate changes dropped from EUR 0.2 million to a loss of EUR 0.6 million.
Total assets decreased to EUR 62 million at the end of 2025
from EUR 74.7 million a year earlier, a fall of about 17%. Amounts due from
credit institutions slipped around 9% to EUR 17.6 million, while amounts due
from investment companies dropped roughly 30% to EUR 9.3 million. Loans and
receivables fell about 14% to EUR 25.1 million.
Balance Sheet Shrinks, Equity Erodes
Despite the weaker year, the group remained well
capitalized. Total equity declined to EUR 54.1 million from EUR 70.2 million,
down about 23%, as retained earnings fell to EUR 51.2 million from EUR 67.4
million. Total liabilities rose to EUR 7.9 million from EUR 4.4 million, mainly
due to higher liabilities and prepayments.
In 2024, Admirals temporarily suspended new client registrations in the European Union, citing regulatory challenges. However, the
broker mentioned that the move was a “temporary and voluntary”
measure and does not affect trading or investing activities for existing
clients.
CEO and Co-Founder Alexander Tsikhilov mentioned that that:
” This decision is related to our efforts to comply with and adapt to the
recommendations of the CySEC regulator and affects only our activities in the
EU countries. Our current customer base in Europe remains intact, and we will
continue to ensure stable access for our clients to our products and
services.”
However, last year March, the broker reopened onboarding for new clients in the region after the temporary pause, having strengthened its compliance framework while keeping services for existing clients uninterrupted.
In another recent development, Admirals Group AS said its
UAE subsidiary, Admirals MENA Limited, has applied to cancel its Financial Services Permission from the local regulator. The group is also selling its
Australian subsidiary as part of efforts to streamline its geographic focus.
This article was written by Jared Kirui at www.financemagnates.com.
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