Admirals Group AS 2025 Unaudited 6 Months Financial Results

Core Insights - Admirals Group AS has shown operational discipline and strategic realignment in response to lower client trading activity in its core European markets [1][3] - The company voluntarily suspended onboarding new European clients in 2024, resuming this process in March 2025 after implementing necessary measures [2][3] - The Group is focused on sustainable growth, leveraging market-leading trading technology and a robust financial position [3] Financial Performance - Net trading income for the first half of 2025 was EUR 13.3 million, a decrease from EUR 22.0 million in the same period of 2024 [6] - Operating expenses decreased by 20% to EUR 18.3 million in the first half of 2025, compared to EUR 22.9 million in 2024 [6] - The net loss for the first half of 2025 was EUR -5.9 million, compared to a net loss of EUR -1.2 million in the first half of 2024 [6] Financial Position - Total assets as of June 30, 2025, were EUR 72.606 million, down from EUR 79.847 million at the end of 2024 [4][7] - Total liabilities decreased to EUR 9.989 million from EUR 10.581 million at the end of 2024 [4][7] - Total equity attributable to owners of the parent was EUR 62.617 million, down from EUR 69.266 million at the end of 2024 [7] Client Metrics - The number of active clients stood at 23,190, with a focus on rebuilding and expanding the client base following a temporary strategic pause [6]