Plus500 Ends H1 with $165M Net Income, Sides $12.5M for Share Buyback

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London-listed Plus500 (LON: PLUS) has published its interim financials revealing its business performance for the second quarter of 2021 and also consolidating them to represent the half-yearly results. Though the revenue and income look to be going down from the peak achieved last year, they still stood significantly stronger than the pre-pandemic levels.

According to the latest filing, Plus500 ended Q2 with an EBITDA of $65.9 million. For H1 FY21, this figure came in at $187.6 million, compared to a record $361.8 million in H1 2020 and $154.1 million in H2 2020.

The EBITDA margin also remained strong at 54 percent, recovering from 50 percent in the previous year-half. For Q2 2021, the margin came in at 46 percent, down from 53 percent reported in the similar quarter of the prior year.

The broker further highlighted a $165.1 million in net profit for the first six months of the ongoing year. In the previous year, the net income of the company was at $320 million for H1 and $180.1 million for H2.

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In an earlier trading update, Plus500 already revealed that the revenue for Q2 came in at $143 million. This number can be compared with Q2 2020’s $247.6 million, when the trading activities were at the peak, and $94 million that was generated in Q2 2019, before the effects of the pandemic.

New Share Buyback Program

Plus500 ran a multiple share buyback program over several previous quarters. Under the most recent…

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