Plus500 promises further payouts as revenue set to beat expectations
Retail trading platform Plus500 said revenue will be “meaningfully ahead of market expectations” for 2024 as it promised further shareholder returns in 2025.
Plus500 expects to deliver revenue of around $768m (£632m) for the 2024 financial year and earnings before interest, taxation, debt and amortisation (EBITDA) of around $342m (£281.6).
The firm also saw over 36,000 new customers in the fourth quarter, a 45 per cent increase on the number of new customers compared to the quarter before.
Plus500 said that its “sophisticated and proprietary marketing technologies” had driven this increase, which has set it up well to continue performing well in the future.
“As the Group has consistently demonstrated historically, current customer acquisition lays the foundation for future performance, making it an investment in Plus500’s medium to long-term growth,” it said in a market update this morning.
Looking into 2025, Plus500 said it had obtained a clearing membership for ICE Clear US in January, which means it can offer extra products to customers in the US.
It also secured a new licence in the UAE this month which will mean it can offer OTC, share dealing, futures and options on futures products.
“The Group remains well positioned to continue executing against its strategic roadmap of expanding into new markets, developing new products and deepening engagement with customers,” it said.
It said that its strong financial position will enable it to deliver further shareholder returns in 2025, having paid out $360.5m during the 2024 financial year.
The firm’s final results will be released on 18 February.