Plus500 sets new 5-year revenue objective
Forex and CFD broker Plus500 Ltd (LON:PLUS) is hosting a virtual Capital Markets Day today, Tuesday 20 September, at 2.00pm BST.
The event will feature presentations from David Zruia, CEO, Elad Even-Chen, CFO, and other members of the senior management team. The management team will comment on the Company’s market position, its proprietary technology‐based trading platforms and its growth opportunities, notably in the U.S. futures market.
As part of this event, Plus500 is also announcing a new five year incremental, annualised revenue objective of approximately $500 million, to be achieved through expanding existing products, the introduction of new products, deepening customer engagement and expanding into new geographies, including the U.S.
This revenue objective is based on the Group’s current view of the prospects of the business at this particular point in time, and in the context of the unpredictable market conditions experienced in recent years.
Let’s recall that, for the first six months of 2022, Plus500 reported revenue of $511.4 million, up 48% from the equivalent period a year earlier. Higher Group revenue reflects Customer Trading Performance of $171.6m in H1 2022 (H1 2021: $(33.0m)), including $88.7m in Q2 2022 (Q2 2021: $(14.7m)).
Customer Income, a key measure of the Group’s underlying performance, was at a level of $339.8m in H1 2022 (H1 2021: $379.2) including $151.8m in Q2 2022 (Q2 2021: $157.7m).
The Group onboarded 57,275 New Customers during H1 2022 (H1 2021: 136,980), including 23,535 in Q2 2022 (Q2 2021: 47,574).