Core Insights - The company experienced a significant decline in net trading income due to lower client trading activity and a temporary pause in EU client onboarding, resulting in a net loss of EUR 18.5 million for 2025 compared to a loss of EUR 1.6 million in 2024 [1][5]. Financial Performance - Net trading income for 2025 was EUR 17.4 million, down from EUR 38.4 million in 2024, reflecting a substantial decrease in client activity [5]. - Total operating expenses decreased by 18% to EUR 34.8 million in 2025, compared to EUR 42.4 million in 2024 [5]. - The number of active clients stood at 29,455, indicating a focus on rebuilding and expanding the client base [5]. Financial Position - Total assets decreased from EUR 79.8 million in 2024 to EUR 58.3 million in 2025, with cash and cash equivalents dropping from EUR 41.6 million to EUR 34.1 million [3]. - Total liabilities decreased from EUR 10.6 million in 2024 to EUR 8.6 million in 2025, while total equity attributable to owners of the parent fell from EUR 69.3 million to EUR 49.7 million [3]. Comprehensive Income - The total comprehensive loss for the reporting period was EUR 19.6 million in 2025, compared to a loss of EUR 0.7 million in 2024 [6]. - Basic and diluted earnings per share were reported at EUR -7.59 for 2025, down from EUR -0.65 in 2024 [6]. Strategic Outlook - The company resumed EU client onboarding in March 2025 and is focusing on responsible growth, client experience, and compliance to rebuild its active client base [2]. - Future priorities include improving client activation and retention while maintaining disciplined cost management and a strong compliance framework [2].

Core Insights - Admirals Group AS's subsidiary, Admirals MENA Limited, has applied to cancel its Financial Services Permission related to Dealing in Investments as Principal, with the cancellation effective from November 4, 2025 [1][2] Group 1 - The decision reflects Admirals Group AS's strategic focus on optimizing global operations and concentrating resources in regions with the highest potential for sustainable growth and operational excellence [2]

Core Points - The general meeting of Admirals Group AS has elected Anton Tikhomirov and Fedor Ragin to the supervisory board, effective from October 6, 2025, while Tikhomirov has resigned from the management board [1] - Both Tikhomirov and Ragin have extensive backgrounds in finance and management, with Tikhomirov having been with Admirals since 2012 and Ragin since 2017 [2][3] - The management and supervisory boards will have new compositions starting from October 6, 2025, and the articles of association will be amended to allow shareholders and the supervisory board to adopt resolutions without convening a meeting [4] Group 1 - Anton Tikhomirov has been active in the financial brokerage industry since 1999 and has served on the supervisory board of Admirals Group AS from 2016 to 2024 [2] - Fedor Ragin has 19 years of experience in teaching and strategic consulting, and he serves on several supervisory boards outside the Admirals group [3] - The management board will consist of Alexander Tsikhilov, Eduard Kelvet, Andrey Koks, and Liudmila Bataeva starting from October 6, 2025 [4] Group 2 - The supervisory board will include Anatolie Mihalcenco, Dmitri Lauš, Olga Senjuškina, Anton Tikhomirov, and Fedor Ragin from October 6, 2025 [4] - The amendments to the articles of association will enhance the decision-making process for shareholders and the supervisory board [4]

Core Points - The Supervisory Board of Admirals Group AS has appointed Mrs. Liudmila Bataeva as a new member of the Management Board, effective from October 1, 2025 [1] - Mrs. Bataeva has over 14 years of international experience in digital product strategy, data analytics, and product governance, and has been with Admirals since February 2024 [2] - The Management Board will consist of Alexander Tsikhilov, Eduard Kelvet, Andrey Koks, Anton Tikhomirov, and Liudmila Bataeva starting from October 1, 2025 [3] Company Background - Mrs. Bataeva served as Team Lead and then as Head of Product, B2B, focusing on regulatory-compliant onboarding processes and partnership model innovations at Admirals [2] - Prior to joining Admirals, she was Group Product Manager at Workato, responsible for data governance and customer trust renewal [2] - Mrs. Bataeva holds an MBA in Business Administration from Hult International Business School in the UK [2] Management Composition - The new Management Board will include the following members: Alexander Tsikhilov (Chairman), Eduard Kelvet, Andrey Koks, Anton Tikhomirov, and Liudmila Bataeva [3] - Mrs. Bataeva does not hold any management positions outside the Admirals group [3]

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]

The Supervisory Board of Admiral Markets AS has appointed Mr Anton Tikhomirov as a new member of the Management Board, effective 7 July 2025. Mr Tikhomirov will strengthen the Company’s management team with his extensive expertise in marketing investment services and fostering long-term client relationships. His areas of responsibility on the Management Board will include marketing, sales, communication, and product development. To assume this executive role, Mr Tikhomirov has stepped down from his position ...

Mr Priit Rohumaa’s term as a member of the Supervisory Board of Admirals Group AS ended on 17 June 2025. Admirals Group AS extends its sincere gratitude to Mr Rohumaa for his valuable contributions and dedication during his tenure.Effective 18 June 2025, the Supervisory Board will continue its work with the following members: Anatolie Mihalcenco, Dmitri Lauš, Juri Kartakov, and Olga Senjuškina.Additional information:  Alexander TsikhilovChairman of the Management Board of Admirals Group ASalexander.tsikhilo ...

Core Insights - Admirals Group AS demonstrated resilience in trading income and positive EBITDA despite a decrease in client activity, attributed to effective cost control measures [1][5] - The Group's net trading income fell by 6% to EUR 38.4 million in 2024 from EUR 40.9 million in 2023, supported by increased market volatility [1][7] - Total operating expenses decreased by 16% to EUR 42.4 million in 2024 from EUR 50.3 million in 2023 due to cost optimization efforts [1][5] Financial Performance - EBITDA improved to EUR 0.9 million in 2024 from a loss of EUR 6.5 million in 2023 [5] - The net loss narrowed to EUR -1.6 million in 2024 compared to EUR -9.7 million in 2023 [5] - Total comprehensive loss for the reporting period was EUR -728 thousand in 2024, significantly better than EUR -9.89 million in 2023 [7][8] Balance Sheet Overview - Total assets decreased to EUR 79.847 million in 2024 from EUR 81.968 million in 2023 [3][6] - Total liabilities reduced to EUR 10.581 million in 2024 from EUR 11.539 million in 2023 [3][6] - Total equity attributable to owners of the parent decreased to EUR 69.266 million in 2024 from EUR 70.402 million in 2023 [6] Operational Developments - The voluntary suspension of new client registrations in the Cyprus-based Admirals Europe Ltd. began in April 2024, impacting client onboarding in the EU [2] - The suspension was temporary to implement necessary technical and organizational measures for product governance alignment with European clients [2] - Client onboarding in the EU resumed in March 2025 following the completion of these measures [2]

Admirals Group AS audited annual report 2024 Despite lower client activity, Admirals Group AS delivered resilient trading income and positive EBITDA through effective cost control measures. • The Group's net trading income decreased by 6% to EUR 38.4 million (2023: EUR 40.9 million), being supported by higher volatility on the financial markets. • The Group’s total operating expenses decreased by 16% to EUR 42.4 million (2023: EUR 50.3 million) as a result of cost optimisation efforts. • EBITDA was EUR 0.9 ...

Admiral Markets AS audited annual report 2024 Despite lower client activity, Admirals Markets AS delivered resilient trading income and positive net profit through effective cost control measures. Net trading income increased by 48% to EUR 13.5 million (2023: EUR 9.1 million) being supported by higher volatility on the financial markets. Total operating expenses decreased by 26% to EUR 13.7 million (2023: EUR 18.5 million). EBITDA was EUR 1.1 million (2023: EUR -6.9 million). Net profit was EUR 0.4 m ...