16 March 2021
Plus500 Ltd.
("Plus500", "the Company" or "the Group")
Trading Update
Plus500, a leading technology platform for trading Contracts for Difference ("CFDs") internationally, issues the following trading update ahead of today's EGM, which is taking place at 10.00am UK time.
Trading during Q1 2021 has remained strong, supported by continued outperformance of Customer Income[1], which is tracking ahead of Q4 2020, and across key operating metrics.
FY 2021 revenue will be driven through the Company's continued underlying growth of Active Customers[2], its on-going success in attracting and retaining New Customers[3] and supportive market conditions. At this early stage of the year, while these dynamics have continued to be favourable, monthly trading results remain volatile.
FY 2021 EBITDA[4] will be supported by Plus500's lean, flexible cost base and efficient business model, with continued investment in marketing technology to capture opportunities to drive attractive return-on-investment over time.
Given the Company's continued robust performance, and supported by its market-leading proprietary trading platform, its flexible and scalable business model, its robust financial position and consistent track record, the Board remains confident about the outlook for Plus500.
The Company will publish its results for Q1 2021, for the period ended 31 March 2021, on 13 April 2021.
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For further details Plus500 Ltd
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About Plus500
Plus500 operates a proprietary technology platform for individual customers to trade CFDs internationally. The Group offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is accessible from multiple operating systems (Windows, iOS, Android and Surface) and web browsers. Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore and the Seychelles.
Customer care is and has always been integral to Plus500, as such, customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses. Plus500 does not utilise cold calling techniques and does not offer binary options. Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. www.plus500.com
Forward looking statements
This announcement contains statements that are or may be forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Company's future prospects, developments and strategies. The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.
Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "projects", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the risk factors. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such entity and the environment in which each will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as at the date of this announcement. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
[1] Customer Income - Revenue from customer spreads and overnight charges
[2] Active Customers - Customers who made at least one real money trade during the period
[3] New Customers - Customers depositing for the first time
[4] EBITDA - Earnings before interest, taxes, depreciation and amortisation
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