Freedom Finance Europe founder released the company report for the fiscal year that ended on March 31, 2021. Among other figures, the client base rose significantly, namely by 27% compared to the last year, to reach 290K.
Timur Turlov, CEO at Freedom Holding Corp., says:
'In Q4 we hit the record in terms of accounts opened across the globe. Our market share is being increased across the board, while Freedom Finance Europe is our fastest growing brand. We had a chance to test a lot of approaches and methods in the EU market last year, which helped us increase some business metrics multi-fold. Currently, we've got 25,000 clients across Europe, which is our focus market, but there is still much to be done. Moving forward, we will be expanding our holding and its ecosystem further. We thank our investors for their trust, and our team, for professionalism'.
The key financial figures changed as follows:
- The earnings amounted to $353M, which is 189% more than over the same period in 2020 ($122M). The increase is mostly due to the commission income going up from $93M to $272M, or by 292.40%. Equities and securities also boosted the earnings, as the profit here went up from $15M to $46M, by 306.70%.
- The net profit increased by 6.50x, from $22M in FY2020 to $143M.
- The EPS came at $2.45, while it was just $0.38 last year. This is based on the weighted average of the number of shares, which is 58M.
- Other total income amounted to $145M (this is compared to $7M in 2020).
- Over the year, assets and liabilities increased by $1.565M and $1.419M, respectively.
- Finally, the expenses also came at a higher number compared to last year, namely by $86M, or 91%.
You can see the full report on the SEC website.