Admirals Reported Losses in H1 2025 Despite Cutting Operational Costs
Despite cutting expenses by 20%, Admirals reported a net loss of €5.9 million in the first half of 2025, caused by a 40% decrease in revenue.
In the latest forex broker news, it is reported that forex broker Admirals reported unaudited financial results for the first half of 2025, indicating a difficult period with a net loss of €5.9 million. This significant loss occurred despite the multi-asset broker having made efforts to control costs, successfully reducing operating expenses by 20% to €18.3 million.
The difficulties of forex broker Admirals are related to a challenging period of market volatility and strategic business restructuring, leading to a 40% decrease in net trading income, down to €13.3 million.
This decline widened the loss from the €1.2 million deficit recorded in the first half of 2024. The financial data highlights pressure on profitability, with a negative EBITDA of €5 million and a cost-to-income ratio of 138%, indicating that the company still has a long way to go to improve its operational efficiency.
These financial results reflect the ongoing consolidation phase led by Admirals management. The company's balance sheet also experienced a decline: as of June 30, 2025, total assets fell by 9% to €72.6 million, and shareholders' equity decreased by 10% to €62.6 million. Furthermore, client assets off-balance sheet also decreased by 11% to €81.1 million.
A key factor contributing to this decline is the voluntary suspension of new client registration in the EU in 2024, a step taken to comply with new regulatory standards. After successfully completing this process in March 2025, Admirals can resume accepting new client registrations. The company closed the first half of this year with 23,190 active clients, indicating that recovery has finally begun after this strategic, albeit costly, delay.