Plus500 (PLUS) H2 2024 earnings summary

Executive summary

• Achieved strong strategic, operational, and financial performance in 2024, surpassing market expectations for revenue and EBITDA growth, with robust shareholder returns and improved customer KPIs.

• Maintained a robust financial position, ending the year debt-free with approximately $900 million in cash, supporting future growth through organic investments and acquisitions.

• Continued transformation into a global multi-asset fintech group, expanding product offerings, geographic reach, and deepening customer engagement.

• Announced $200 million in additional shareholder returns through dividends and share buybacks.

• Customer KPIs improved, with significant increases in new and active customers and record average deposits per active customer.

Financial highlights

• Revenue for 2024 reached $768.3 million, up 6% year-on-year; EBITDA was $342.3 million; Net Profit was $273.1 million.

• EBITDA margin was 45% (down from 47%); basic EPS of $3.57, a 13% increase year-on-year.

• Cash generated from operations was approximately $321.9 million; cash and equivalents at year-end were $900 million.

• Total customer deposits hit a record $3 billion, with average deposit per active customer at $12,000.

• Over $350 million returned to shareholders during the period.

Outlook and guidance

• Non-OTC business expected to account for 30–35% of total revenue and new customers within 3–5 years.

• FY 2025 results expected to be in line with current market expectations, with continued focus on business diversification and technology investment.

• Anticipates further geographic expansion, especially in North America and Asia, with new licenses and memberships targeted for 2025.

• Strategic emphasis on leveraging technology, product innovation, and customer retention to drive long-term growth.