Forex and CFD broker Plus500 Ltd (LON:PLUS) today issued end-2023 transaction update.
The Group expanded its futures business in the US, launched a local retail trading platform in Japan and made further progress in the important UAE market after being granted regulatory approval earlier this year. In addition, the Group added a regulatory license in the Bahamas, meaning it now holds 13 regulatory licenses worldwide, representing a key competitive advantage for Plus500.
For the year ended December 31, 2023, the Group generated revenues of approximately $725 million and EBITDA of approximately $340 million, both of which are significantly higher than current market expectations.
The Group’s balance sheet remained robust and cash balances as of December 31, 2023 were approximately $900 million.
During the 2023 fiscal year, Plus500 announced shareholder returns of approximately $350 million split between dividends and share repurchases.
As the Group remains well positioned to continue to deliver on its strategic objectives, the Board looks ahead to the year ahead with confidence.