Admirals Group AS Unaudited Financial Results For 12 Months Of 2025

2026-02-26 08:31:47

(MENAFN- GlobeNewsWire - Nasdaq) Admirals Group AS Unaudited Financial Results for 12 months of 2025

In 2025, lower client trading activity in the Group's core European markets, together with the ongoing impact of a temporary pause in EU client onboarding, materially reduced net trading income. The Group responded by lowering costs and continuing its operational realignment:

Net trading income was EUR 17.4 million (2024: EUR 38.4 million).
Total operating expenses decreased by 18% to EUR 34.8 million (2024: EUR 42.4 million).
Net loss was EUR -18.5 million (2024: EUR -1.6 million).
The decline in net trading income outpaced the reduction in operating expenses, reflecting lower client activity and the lagged impact of the EU onboarding pause.
The number of active clients stood at 29,455. Rebuilding and expanding the client base is our key focus.

In 2024, Admirals Europe Ltd. voluntarily paused onboarding of new EU clients while implementing enhancements following CySEC supervisory engagement. This pause reduced new client inflows and continued to affect the client base into 2025.

Admirals resumed EU client onboarding in March 2025. Client acquisition efforts increased in the second quarter of 2025, with a focus on responsible growth, client experience, and compliance.

Looking ahead, the Group's priorities are to rebuild the active client base, improve client activation and retention, and maintain disciplined cost management and a strong compliance framework. The Group believes these actions support a return to more stable performance and long-term value creation for stakeholders.

Statement of Financial Position

(in thousands of euros)	31.12.2025	31.12.2024
Assets
Cash and cash equivalents	34,065	41,607
Due from investment companies	13,246	18,736
Financial assets at fair value through profit or loss	809	1,228
Loans and receivables	3,536	8,315
Inventories	235	665
Other assets	1,588	2,092
Tangible fixed assets	1,159	1,359
Right-of-use assets	1,762	2,541
Intangible assets	1,904	3,304
Total assets	58,304	79,847

Liabilities
Financial liabilities at fair value through profit or loss	596	334
Liabilities and accruals	1,860	3,326
Deferred tax liability	0	0
Subordinated debt securities	4,108	4,103
Lease liabilities	2,030	2,818
Total liabilities	8,594	10,581

Equity
Share capital	250	250
Own shares	-1,218	-456
Statutory reserve capital	25	25
Currency translation reserve	-1,058	30
Retained earnings	51,711	69,417
Total equity attributable to owners of the parent	49,710	69,266
Non-controlling interest	0	0
Total equity	49,710	69,266
Total liabilities and equity	58,304	79,847

Statement of Comprehensive Income

(in thousands of euros)	31.12.2025	31.12.2024
Net gains from trading of financial assets at fair value through profit or loss with clients and liquidity providers	18,664	40,653
Brokerage and commission fee revenue	1,114	1,408
Brokerage and commission fee expense	-2,538	-3,558
Other trading activity related income	310	489
Other trading activity related expense	-185	-583
Net income from trading	17,365	38,409
Other income similar to interest	0	947
Interest income calculated using the effective interest method	1,428	424
Interest expense	-491	-472
Other income	369	3,004
Other expenses	-892	-233
Net losses on exchange rate changes	-1,361	-1,016
Profit / (loss) from financial assets at fair value through profit or loss	0	-444
Personnel expenses	-11,746	-13,394
Operating expenses	-20,232	-25,412
Depreciation of tangible and intangible assets	-2,100	-2,594
Depreciation of right-of-use assets	-747	-787
(Loss) before income tax	-18,407	-1,568
Income tax	-63	-24
(Loss) for the reporting period	-18,470	-1,592
Other comprehensive income / (loss):
Items that subsequently may be reclassified to profit or loss:
Currency translation adjustment	-1,088	864
Total other comprehensive income / (loss) for the reporting period	-1,088	864
Total comprehensive (loss) / income for the reporting period	-19,558	-728
Net (loss) attributable to the owners of the parent	-18,468	-1,592
Net profit attributable to non-controlling interest	0	0
(Loss) for the reporting period	-18,468	-1,592
Total comprehensive (loss) attributable to the owners of the parent	-18,468	-728
Total comprehensive income attributable non- controlling interest	0	0
Total comprehensive (loss) for the reporting period	-18,468	-728
Basic and diluted earnings per share	-7.59	-0.65

Additional information:

Alexander Tsikhilov
Chairman of the Management Board of Admirals Group AS
...
+372 6309 300

Attachment

workfile of AMG (ENG) Interim 31.12.2025 (260226)

MENAFN26022026004107003653ID1110793926

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