In 2022, Admirals Group reported a decline in revenue, with profits lower than in 2021, primarily due to challenges related to inflation and rising energy costs. Revenues of Admirals Group AS, the parent company, dropped by 40% from the first half of the year's €43 million, resulting in a net loss compared to a net profit of €24 million in the first six months of 2022.

Despite these challenges, this Estonia-based brokerage firm has some positive news to share. The number of active clients within the group increased by 13%, reaching 55,242 clients compared to 2021 and a 14% rise compared to the same period in 2020 (2021: 49,080, 2020: 48,341 active clients). The majority of Admirals' clients are from the European Union, accounting for 87% of the company's revenue. The UK contributes 3% of the revenue, Australia 1%, and the rest of the world 9%.

The number of active accounts in the group also saw growth, rising by 11% to 70,346 accounts compared to the same period in 2021 and increasing by 12% compared to the same period in 2020 (2021: 63,231 and 2020: 62,854). Additionally, the number of new applications within the group surged by 22% to 151,116 compared to the same period in 2021 and a remarkable 61% increase compared to the same period in 2020.

Fluctuations in a company's performance are expected, particularly for one that recently changed its management. In January 2022, former Admirals CSO Roman Krutyanskiy joined MultiBank after leaving Admirals late the previous year. Admirals Management Board member Jens Chrzanowski resigned in August and joined rival broker XTB.

Sergei Bogatenkov, the CEO of Admirals Group, remains optimistic. He highlighted that Admirals has managed to regain its full-scale operations similar to pre-pandemic times. The company is now focusing on strengthening its IT and infrastructure development. Management is committed to ensuring that ongoing investments in research and development provide the necessary tools for future growth.