Plus500 Ltd. (PLUS.L), a fintech group operating proprietary technology-based trading platforms, reported Monday weak EBITDA, a key earnings metric, margin and revenues in its first quarter. The results were higher sequentially.
Looking ahead, for fiscal 2025, the company's Board of Directors anticipates that the results will be ahead of current market expectations. Consensus forecasts for fiscal 2025 revenue and EBITDA are $719.2 million and $331.3 million, respectively, as of February 17.
In its trading update for the three months ended March 31, the company reported EBITDA of $93.8 million, down 9 percent from last year's $102.6 million. EBITDA margin of 46% dropped from 48% last year.
First-quarter revenue, comprised of trading income and interest income, declined 5 percent to $205.8 million from $215.6 million last year.
The Group onboarded 26,897 New Customers during the quarter, down 16 percent from last year. Active Customers fell 3 percent to 130,514.
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