TIDMPLUS
RNS Number : 4068V
Plus500 Limited
18 April 2016
18 April 2016
Plus500 Ltd.
("Plus500" or "the Company")
Trading update for the three months ended 31 March 2016
Record first quarter revenues and active customers
Plus500, a leading online service provider for retail customers
to trade CFDs internationally, is pleased to announce the following
trading update for the three months ended 31 March 2016.
Overview
-- Record quarterly revenues of $85.2m and record number of Active Customers 68,000
-- Continued market share growth in our leading markets
-- Volatile market conditions were conducive to high levels of
customer trading and new sign ups
-- Strong new customer additions, up 85%, compared to Q4 2015
KPIs
Key customer and revenues metrics for the three months ended 31
March 2016 were as follows:
FY 2015 Q4 2015* Q1 2015* Q1 2016* % Growth % Growth
Q4 2015/ Q1 2015/
Q1 2016 Q1 2016
Revenues $275.6m $67.7m $82.1m $85.2m 26% 4%
New customers(1) 84,858 15,594 32,880 28,792 85% -12%
Active customers(2) 136,540 49,006 67,667 67,821 38% 0%
ARPU(3) $2,019 $1,382 $1,214 $1,256 -9% 3%
AUAC(4) $1,227 $1,591 $892 $1,316 -17% 47%
*Unaudited
Trading review
The Company has reported a strong first quarter's trading with
both record quarterly revenues and active customers. Additionally,
the Company successfully attracted a high level of new customers,
with strong cash conversion.
The Board is especially pleased with this performance relative
to the strength of the first quarter of 2015 when the Group
benefitted from the on-boarding of a large number of customers as a
result of the exceptional movement in the Swiss Franc and its
effect on the CFD industry.
Plus500UK resumed the onboarding of new customers in January
2016 and the Board is pleased with progress to date. Although Group
total Q1 2016 new customer numbers were down 12% year on year, they
were 85% higher than Q4 2015 showing the underlying momentum in the
business.
Dividends
As announced on 17 February 2016, the final dividend and a
special dividend for the year ended 31 December 2015 are together
payable on 11 May 2016, contributing to a total pay-out for 2015 of
$96.6 million (2014: $92 million) which represents a pay-out of
100% of net profit for the year ended 31 December 2015. The
ex-dividend date was 24 March and the record date was 29 March.
Outlook
The Board is retaining its guidance that the Company will
achieve a higher EBITDA margin than that achieved in 2015 and its
confidence reflecting the progress to date in 2016 for the outcome
of the year as a whole.
The Board reaffirms its base 60% pay-out ratio dividend policy,
reflecting the strength of Plus500's business model in its ability
to convert net earnings into cash-flow. The Board also retains
flexibility to pay special dividends or buy back shares when the
Company generates surplus cash, as appropriate.
Asaf Elimelech, the new Chief Executive of Plus500,
commented:
"We are very pleased with our first quarter performance which is
significantly ahead of the last quarter of 2015, and compares
favourably against a very strong first quarter last year. We
continue to benefit from volatile market conditions which are
stimulating new customer additions and trading activity.
"As we noted in February at the time of the 2015 results, we
have more high value customers, an enhanced trading platform, more
robust processes, a stronger brand and more routes to market,
supported by a strong balance sheet. We are therefore confident
that Plus500 will continue growing and believe we will have another
successful year."
Annual General Meeting
Plus500's Annual General Meeting will be held on 10 May 2016.
Shareholders are welcome to attend, for further information please
contact plus500@mhpc.com .
For further information please contact:
Plus500 Ltd +972 4 8189503
Elad Even-Chen, Chief Financial Officer
Liberum - Nomad and Broker +44 20 3100 2222
Clayton Bush, Josh Hughes
MHP Communications +44 20 3128 8100
Reg Hoare, Tim Rowntree, Kelsey Traynor
Plus500@mhpc.com
About Plus500
Company website: www.plus500.com
Plus500 has developed and operates an online trading platform
for retail customers to trade CFDs internationally over more than
2,200 different underlying global financial instruments comprising
equities, indices, commodities, options, ETFs and foreign exchange.
The Company enables retail customers to trade CFDs in more than 50
countries. The trading platform is accessible from multiple
operating systems (Window, smartphones (iOS, Android and Windows
Phone), tablets (iOS, Android and Surface), Apple Watch and web
browsers. The Directors believe that the success of the Company to
date has been primarily due to the proprietary technology it has
developed and continues to develop to support the trading platform.
The trading platform has been designed to be as intuitive and easy
to use as possible. The trading platform has been localised into 31
languages. The Directors believe that this emphasis on technology,
together with the Company's targeted online marketing strategy, has
helped to differentiate the Company from its competitors.
(1) New Customers: Customers who have deposited money into their
own account for the first time
(2) Active Customers: Customers who made at least one trade
using money on the trading platform during the relevant period
(3) Average revenue per user
(4) Average user acquisition cost
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTGGUCUCUPQGAA
(END) Dow Jones Newswires
April 18, 2016 02:00 ET (06:00 GMT)
Plus500 (LSE:PLUS)
Historical Stock Chart
From Apr 2024 to May 2024
Plus500 (LSE:PLUS)
Historical Stock Chart
From May 2023 to May 2024