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Admirals Group AS
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30.04.2026 23:00:06
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Admirals Group AS auditeeritud aastaaruanne 2025
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Admirals Group AS auditeeritud aastaaruanne 2025 2025. aastal vähendas klientide madalam kauplemisaktiivsus Grupi põhiturul Euroopas koos ELi klientide vastuvõtmise ajutise peatamise jätkuva mõjuga märkimisväärselt netokauplemistulu. Grupp reageeris kulude vähendamise ja tegevuse ümberkorraldamise jätkamisega: ? Kauplemistegevuse netotulu oli 17,4 miljonit eurot (2024: 38,4 miljonit eurot). Kauplemistulu langus ületas tegevuskulude vähenemist, peegeldades klientide madalamat aktiivsust ja ELi klientide vastuvõtmise peatamise viitajaga mõju. ? Tegevuskulud vähenesid 18% võrra 34,8 miljoni euroni (2024: 42,4 miljonit eurot). ? Puhaskahjum oli -18,5 miljonit eurot (2024: -1,6 miljonit eurot). ? Aktiivsete klientide arv oli 29 455. Kliendibaasi taastamine ja laiendamine on meie peamine fookus. 2024. aastal peatas Admirals Europe Ltd. vabatahtlikult uute ELi klientide vastuvõtmise, rakendades täiustusi pärast CySECi järelevalvemenetlust. See paus vähendas uute klientide lisandumist ning mõjutas kliendibaasi ka 2025. aastal. Admirals taastas ELi klientide vastuvõtmise 2025. aasta märtsis. 2025. aasta teises kvartalis instentiivistati uute klientide kaasamist, keskendudes vastutustundlikule kasvule, kliendikogemusele ja nõuete täitmisele. Edaspidi on Grupi prioriteetideks aktiivse kliendibaasi taastamine, klientide aktiveerimise ja hoidmise parandamine ning distsiplineeritud kulude juhtimise ja tugeva vastavusraamistiku säilitamine. Grupp usub, et need tegevused toetavad stabiilsema tulemuse taastumist ja pikaajalise väärtuse loomist kõigile sidusrühmadele. Finantsseisundi aruanne +--------------------------------------------------------+----------+----------+ |(tuhandetes eurodes) |31.12.2025|31.12.2024| +--------------------------------------------------------+----------+----------+ |Varad | | | +--------------------------------------------------------+----------+----------+ |Raha ja raha ekvivalendid | 34 065| 41 607| +--------------------------------------------------------+----------+----------+ |Nõuded investeerimisühingutele | 13 246| 18 736| +--------------------------------------------------------+----------+----------+ |Finantsvarad õiglases väärtuses muutustega läbi | | | |kasumiaruande | 809| 1 228| +--------------------------------------------------------+----------+----------+ |Laenud ja nõuded | 3 536| 8 315| +--------------------------------------------------------+----------+----------+ |Varud | 235| 665| +--------------------------------------------------------+----------+----------+ |Muud varad | 1 588| 2 092| +--------------------------------------------------------+----------+----------+ |Materiaalne põhivara | 1 159| 1 359| +--------------------------------------------------------+----------+----------+ |Kasutusõigusega vara | 1 762| 2 541| +--------------------------------------------------------+----------+----------+ |Immateriaalne põhivara | 1 904| 3 304| +--------------------------------------------------------+----------+----------+ |Varad kokku | 58 304| 79 847| +--------------------------------------------------------+----------+----------+ | | | | +--------------------------------------------------------+----------+----------+ |Kohustused | | | +--------------------------------------------------------+----------+----------+ |Finantskohustused õiglases väärtuses muutustega läbi | | | |kasumiaruande | 596| 334| +--------------------------------------------------------+----------+----------+ |Võlad ja ettemaksed | 1 870| 3 326| +--------------------------------------------------------+----------+----------+ |Edasilükkunud tulumaksukohustus | 0| 0| +--------------------------------------------------------+----------+----------+ |Allutatud võlakirjad | 4 108| 4 103| +--------------------------------------------------------+----------+----------+ |Rendikohustis | 2 030| 2 818| +--------------------------------------------------------+----------+----------+ |Kohustused kokku | 8 604| 10 581| +--------------------------------------------------------+----------+----------+ | | | | +--------------------------------------------------------+----------+----------+ |Omakapital | | | +--------------------------------------------------------+----------+----------+ |Aktsiakapital | 250| 250| +--------------------------------------------------------+----------+----------+ |Omaaktsiad | -1 218| -456| +--------------------------------------------------------+----------+----------+ |Kohustuslik reservkapital | 25| 25| +--------------------------------------------------------+----------+----------+ |Realiseerimata kursivahed | -1 064| 30| +--------------------------------------------------------+----------+----------+ |Jaotamata kasum | 51 707| 69 417| +--------------------------------------------------------+----------+----------+ |Emaettevõtte aktsionäridele kuuluv omakapital kokku | 49 700| 69 266| +--------------------------------------------------------+----------+----------+ |Mittekontrolliv osalus | 0| 0| +--------------------------------------------------------+----------+----------+ |Omakapital kokku | 49 710| 69 266| +--------------------------------------------------------+----------+----------+ |Kohustused ja omakapital kokku | 58 304| 79 847| +--------------------------------------------------------+----------+----------+ Koondkasumiaruanne +--------------------------------------------------------------+-------+-------+ |(tuhandetes eurodes) | 2025| 2024| +--------------------------------------------------------------+-------+-------+ |Netokasum klientidega ja likviidsuspakkujatega kaubeldavatelt | | | |finantsvaradelt õiglases väärtuses muutustega läbi | | | |kasumiaruande | 18 664| 40 653| +--------------------------------------------------------------+-------+-------+ |Komisjoni- ja vahendustasu tulu | 1 114| 1 408| +--------------------------------------------------------------+-------+-------+ |Komisjoni- ja vahendustasu kulu | -2 538| -3 558| +--------------------------------------------------------------+-------+-------+ |Muud kauplemistegevusega seotud tulud | 310| 489| +--------------------------------------------------------------+-------+-------+ |Muud kauplemistegevusega seotud kulud | -185| -583| +--------------------------------------------------------------+-------+-------+ |Kauplemistegevuse netotulu | 17 365| 38 409| +--------------------------------------------------------------+-------+-------+ |Intressitulu efektiivse intressimäära meetodil | 1 428| 1 371| +--------------------------------------------------------------+-------+-------+ |Intressikulu | -491| -472| +--------------------------------------------------------------+-------+-------+ |Muud tulud | 369| 3 004| +--------------------------------------------------------------+-------+-------+ |Muud kulud | -918| -610| +--------------------------------------------------------------+-------+-------+ |Netokasum/-kahjum valuutakursi muutustest | -1 361| -1 016| +--------------------------------------------------------------+-------+-------+ |Kahjum finantsvaradelt õiglases väärtuses muutustega läbi | | | |kasumiaruande | -178| -444| +--------------------------------------------------------------+-------+-------+ |Tööjõukulud |-11 746|-13 394| +--------------------------------------------------------------+-------+-------+ |Tegevuskulud |-20 031|-25 035| +--------------------------------------------------------------+-------+-------+ |Põhivara kulum | -2 099| -2 594| +--------------------------------------------------------------+-------+-------+ |Kasutusõigusega vara kulum | -747| -787| +--------------------------------------------------------------+-------+-------+ |(Kahjum) / Kasum enne tulumaksu |-18 409| -1 568| +--------------------------------------------------------------+-------+-------+ |Tulumaks | -63| -24| +--------------------------------------------------------------+-------+-------+ |Aruandeperioodi (kahjum) / kasum |-18 472| -1 592| +--------------------------------------------------------------+-------+-------+ |Muu koondkahjum: | | | +--------------------------------------------------------------+-------+-------+ |Kirjed mida võib edaspidi klassifitseerida kasumiaruandesse: | | | +--------------------------------------------------------------+-------+-------+ |Realiseerimata kursivahed | -1 094| 864| +--------------------------------------------------------------+-------+-------+ |Aruandeperioodi muu koondkahjum | -1 094| 864| +--------------------------------------------------------------+-------+-------+ |Aruandeaasta koondkahjum / kasum |-19 566| -728| +--------------------------------------------------------------+-------+-------+ |Emaettevõtte aktsionäridele kuuluv puhaskahjum / kasum |-18 472| -1 592| +--------------------------------------------------------------+-------+-------+ |Mittekontrollivale osalusele kuuluv puhaskasum (-kahjum) | 0| 0| +--------------------------------------------------------------+-------+-------+ |Aruandeaasta puhaskahjum / kasum |-18 472| -1 592| +--------------------------------------------------------------+-------+-------+ |Emaettevõtte aktsionäridele kuuluv koondkahjum / kasum |-19 566| -728| +--------------------------------------------------------------+-------+-------+ |Mittekontrollivale osalusele kuuluv koondkasum (-kahjum) | 0| 0| +--------------------------------------------------------------+-------+-------+ |Aruandeaasta koondkahjum / kasum |-19 566| -728| +--------------------------------------------------------------+-------+-------+ |Puhaskahjum / kasum aktsia kohta | -7,59| -0,65| +--------------------------------------------------------------+-------+-------+ Lisainfo: Alexander Tsikhilov Admirals Group AS-i juhatuse esimees [email protected] (https://www.globenewswire.com/Tracker?data=n9UUp-La6WLK-Zv03iGo- 6iRh04K69f1_zXI2_rqsvgMRa5I_Egt4YMe9_zZs- OcCpPvbO_wq9a7YY0XOaAVgeN3WTwz_D7bvXbwfB7uQJtitLXZHEtB1Kl3BuDz_AMHlpbO8fNlC4yep- oJXuET-QmvtHq9bUlPsJqRMfFijtCi3K- ucH_CE8Ed7jHS2goN7ygFbOpSdzOuxaEehjZ6b2pKQyvh7eHVB81Q_7TCT94b_IxPBG4pg2S13dtqp_J ppHi2p- zHhgCmA53RMMB0QjCVSLUKk3toDMw_ZkdffUpu6rrmMkDfgev4PQLhFfQ7W8bnpjq2ECR7yBkvnX843g yahbryqvr6yCejYApSaBw=) +372 6309 300 https://www.admirals.group/ (https://www.globenewswire.com/Tracker?data=ObIn5EGGSLCEGPGZzFkX5KtKRbNlKe1GSgcJ pH_rTHKSmiu4Ha4GaPdaMFOigtjQ- ZSMFbbG7zjnB4TIGxrUbxwAuob7A4PvFK0ICXJxUb4BHXQjVfY4ALrJz7bq4uf5CE5mGNA- 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Admirals Group AS audited annual report 2025
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Admirals Group AS audited annual report 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).
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.
* 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 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 | 1,870| 3,326|
+--------------------------------------------------------+----------+----------+
|Deferred tax liability | 0| 0|
+--------------------------------------------------------+----------+----------+
|Subordinated debt securities | 4,108| 4,103|
+--------------------------------------------------------+----------+----------+
|Lease liabilities | 2,030| 2,818|
+--------------------------------------------------------+----------+----------+
|Total liabilities | 8,604| 10,581|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|Equity | | |
+--------------------------------------------------------+----------+----------+
|Share capital | 250| 250|
+--------------------------------------------------------+----------+----------+
|Own shares | -1,218| -456|
+--------------------------------------------------------+----------+----------+
|Statutory reserve capital | 25| 25|
+--------------------------------------------------------+----------+----------+
|Currency translation reserve | -1,064| 30|
+--------------------------------------------------------+----------+----------+
|Retained earnings | 51,707| 69,417|
+--------------------------------------------------------+----------+----------+
|Total equity attributable to owners of the parent | 49,700| 69,266|
+--------------------------------------------------------+----------+----------+
|Non-controlling interest | 0| 0|
+--------------------------------------------------------+----------+----------+
|Total equity | 49,700| 69,266|
+--------------------------------------------------------+----------+----------+
|Total liabilities and equity | 58,304| 79,847|
+--------------------------------------------------------+----------+----------+
Statement of Comprehensive Income
+--------------------------------------------------------------+-------+-------+
|(in thousands of euros) | 2025| 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|
+--------------------------------------------------------------+-------+-------+
|Interest income calculated using the effective interest method| 1,428| 1,371|
+--------------------------------------------------------------+-------+-------+
|Interest expense | -491| -472|
+--------------------------------------------------------------+-------+-------+
|Other income | 369| 3,004|
+--------------------------------------------------------------+-------+-------+
|Other expenses | -918| -610|
+--------------------------------------------------------------+-------+-------+
|Net losses on exchange rate changes | -1,361| -1,016|
+--------------------------------------------------------------+-------+-------+
|Profit / (loss) from financial assets at fair value through | | |
|profit or loss | -178| -444|
+--------------------------------------------------------------+-------+-------+
|Personnel expenses |-11,746|-13,394|
+--------------------------------------------------------------+-------+-------+
|Operating expenses |-20,031|-25,035|
+--------------------------------------------------------------+-------+-------+
|Depreciation of tangible and intangible assets | -2,099| -2,594|
+--------------------------------------------------------------+-------+-------+
|Depreciation of right-of-use assets | -747| -787|
+--------------------------------------------------------------+-------+-------+
|(Loss) before income tax |-18,409| -1,568|
+--------------------------------------------------------------+-------+-------+
|Income tax | -63| -24|
+--------------------------------------------------------------+-------+-------+
|(Loss) for the reporting period |-18,472| -1,592|
+--------------------------------------------------------------+-------+-------+
|Other comprehensive income / (loss): | | |
+--------------------------------------------------------------+-------+-------+
|Items that subsequently may be reclassified to profit or loss:| | |
+--------------------------------------------------------------+-------+-------+
|Currency translation adjustment | -1,094| 864|
+--------------------------------------------------------------+-------+-------+
|Total other comprehensive income / (loss) for the reporting | | |
|period | -1,094| 864|
+--------------------------------------------------------------+-------+-------+
|Total comprehensive (loss) / income for the reporting period |-19,566| -728|
+--------------------------------------------------------------+-------+-------+
|Net (loss) attributable to the owners of the parent |-18,472| -1,592|
+--------------------------------------------------------------+-------+-------+
|Net profit attributable to non-controlling interest | 0| 0|
+--------------------------------------------------------------+-------+-------+
|(Loss) for the reporting period |-18,472| -1,592|
+--------------------------------------------------------------+-------+-------+
|Total comprehensive (loss) attributable to the owners of the | | |
|parent |-19,566| -728|
+--------------------------------------------------------------+-------+-------+
|Total comprehensive income attributable non- controlling | | |
|interest | 0| 0|
+--------------------------------------------------------------+-------+-------+
|Total comprehensive (loss) for the reporting period |-19,566| -728|
+--------------------------------------------------------------+-------+-------+
|Basic and diluted earnings per share | -7.59| -0.65|
+--------------------------------------------------------------+-------+-------+
Additional information:
Alexander Tsikhilov
Chairman of the Management Board of Admirals Group AS
[email protected]
(https://www.globenewswire.com/Tracker?data=n9UUp-La6WLK-Zv03iGo-
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