Plus500 Share Discussion Threads

[gersemi] 01/5/2018 08:12

Quite incredible -

[noujay] 01/5/2018 08:11

At this rate the dividend for the half year ought to be pretty spectacular too

[interceptor2] 01/5/2018 08:10

Opens up over 12% at nearly 1600p, still good value and should be some way over 2000p to represent fair value.

[its the oxman] 01/5/2018 08:08

2000p not so far away now.

[noujay] 01/5/2018 08:05

Think the market likes it at least!

[nurdin] 01/5/2018 08:02

Ramridge...counter that with '..relatively low cost base and global diversification with seven licenses in different jurisdictions, five of which are outside Europe, provides confidence in the Company's future prospects. ..'

[interceptor2] 01/5/2018 08:00

A stunning Q1

Out of interest if I calculate results from last year for Q2, Q3, Q4 not including Q1 from 2017 but replacing it with Q1 from this year the results would be as below.

Revenue = $656.8m
EBITA = $444,5m
EPS = 306.5c (223p)

If I have calculated correctly that would mean at 1415p PLUS would be on a PER ratio of 6.34. And that isn't accounting for any additional growth on top of the three remaining quarters for this year, which I think would unrealistic. I am sure like IG Index they will start to move customers over to a professional status and I don't think volatility is over yet, crypto's are still volatile and indices are still making large swings with a 300 point difference yesterday in the DOW.

[aakash30] 01/5/2018 07:58

Amazing results, at the current share price they are at a forward 2018 P/E of ~4, conservatively assuming they double 2017 NI.

[noujay] 01/5/2018 07:50

The other comments do at least tamp down the expectation of FY EBITDA of a billion! They clearly can't continue at the January/February levels but be that as it may this is a stellar performance in anybody's language and they are well ahead of consensus.Besides that the references to ESMA are positive in that most of it doesn't impact them. The reclassifying of customers was clearly the route they were going to take.SJ - they certainly have eclipsed IG performance of Q317..

[ramridge] 01/5/2018 07:48

One uncertainty looking ahead is the impact of ESMA.

" We have commenced the process of looking at whether our experienced traders, who represent a significant proportion of our revenue, could be reclassified as professional investors. This would permit them to trade at higher leverage and partially mitigate the impact of the ESMA changes. "

There will be a negative impact but we don't know the extent and in any case they are trying to mitigate it by re-classifying the high rollers as professional investors.

It is a risk but IMO it does not dent the bigger picture of tremendous growth.

[mickharkins1] 01/5/2018 07:47

Stonking set of results.

IMO, they're being very conservative saying it is a one-off due to cryptos...if cryptos start flying up again the punters will rush back in.

[witsend1] 01/5/2018 07:46

This is one of those moments in life when you ask yourself - am I missing something? These results represent ridiculous P/E and dividend yield ratios at the current share price Based on usual metrics the share price should be significantly higher especially with the ESMA anxieties mostly behind us. Am I missing something?

[podgyted] 01/5/2018 07:43

Given they've already hit 90% of 2017 EBITDA and allowing for a bit of a one-off in this quarter, they should be able to double profits from last year.
Will be interesting to see the Liberium note this morning.

[bulltradept] 01/5/2018 07:40

These results were indicated a couple of weeks ago, perhaps one should focus / take into account,the other comments which were made with them...

[ramridge] 01/5/2018 07:38

According to Stocko, consensus broker forecasts for FY2018 before today's announcement are revenues up 25% , adj eps growth 18% , forward pe 9.4
Well, given the stellar Q1 2018 update, revenues and eps will be significantly higher IMO. A pe of around 9 is the cherry on the cake.
Broker upgrades are inevitable I think.

[podgyted] 01/5/2018 07:37

That is incredible!

[chucko1] 01/5/2018 07:33

The final line item “Q1 2018 revenues were over 120% higher than previous record quarter” is indicative of their new run rate at higher market volatility and increased licenses. Maybe other reasons as well that will be be detailed in the Liberum roadshow later today.

That higher run rate indicates to me overall results for the year to be in the order of double those of 2017. Add 500p to the current share price and one would not feel embarrassed to own it (cannot predict the time frame, of course, or any regulatory land mines to frustrate the current excellent trading).

The ARPU is up 26% and that seems to be explained by the increased market volatility. Recall that ARPU fell in Q4 on the technicality that the new clients had only been clients for a short time and so had not been able to produce a lot of revenue when measured over the entire period.

[molatovkid] 01/5/2018 07:32

Looks a bit too good....

[noujay] 01/5/2018 07:18

EBITDA for the quarter is 90% of FY17. Assume then that it's now been beaten already.What astounding performance.

[nurdin] 01/5/2018 07:16

Means it will be better than the current market expectations...

[rachael777] 01/5/2018 07:13

nice update and while i am always happy to see that "As a consequence, the Board has increased its expectations for the Group's financial performance for the year" it doesnt say what the raised expectations are.....am i being stupid ?

[metis20] 01/5/2018 07:10

Exceptional record performance in Q1 2018

Plus500, a leading online service provider for individual customers to trade CFDs internationally, is pleased to announce the following trading update for the three months ended 31 March 2018.

· Record revenues and earnings:

o Q1 2018 revenues were $297.3m, an increase of 284% compared to the same period last year;

o EBITDA1 margin has continued to be strong, resulting in an EBITDA of $237.3m for the period;

o Q1 2018 revenues represented 68% of FY2017 revenues as a whole;

o Q1 EBITDA represented over 90% of FY2017 EBITDA as a whole;

o Q1 2018 revenues were over 120% higher than previous record quarter.

[metis20] 26/4/2018 18:17

Berenberg conference Wesdnesday 25th April

List of attending companies -

Alpha FMC
Applegreen plc
Arrow Global Group plc
Ashmore Group plc
Big Yellow Group PLC
Ceres Power Holdings plc
Clinigen Group plc
Coats Group plc
Cranswick plc
DS Smith plc
Duke Royalty Ltd
Eddie Stobart Logistics plc
Equiniti Group plc
FFI Holdings plc
Georgia Healthcare Group plc
Grafton Group plc
Greene King plc
GVC Holdings plc
Hollywood Bowl Group plc
IP Group plc
Legal & General Group plc
Low & Bonar plc
MJ Gleeson plc
Plus500 Ltd
Rolls-Royce Holdings plc
RWS Holdings plc
Sabre Insurance Group plc
SigmaRoc plc
Sirius Real Estate Ltd
St. James’s Place plc
Staffline Group plc
Victoria plc
Vitec Group
Xeros Technology Group plc

[burn248] 26/4/2018 18:14

Marshal Wace took a short position on plus on 24 April, must be hurting now!!!!ouch.

[poolefox] 26/4/2018 14:57

Exactly what I was thinking Noujay in which case they'll keep on climbing,none of us will suffer from vertigo!