Dukascopy sees Revenues and Profit improve in 2H 2024

Geneva primarily based Retail FX and CFDs dealer Dukascopy has launched its 2024 Annual Report and monetary outcomes, indicating that high line Revenues and backside line Revenue each improved considerably within the second half of the yr.

After seeing its slowest interval in years in 1H 2024 with Revenues falling to just CHF 7.1 million, second half 2024 Revenues at Dukascopy elevated by 66% to CHF 11.8 million – its finest end result since 2022. 2H 2024 Web Revenue got here in at simply above breakeven, at CHF 251K.

For the complete yr 2024 Dukascopy introduced in Revenues of CHF 18.9 million – down by 15% from CHF 22.2 million in 2023. Web Revenue of CHF 331K was down by 71% from CHF 1.1 million in 2023. We’d additionally be aware that 2024’s (small) revenue was helped by Dukascopy releasing CHF 1.9 million in financial institution reserves. With out the reserve reversal, Dukascopy’s “working end result” in 2024 was a internet lack of CHF 1.7 million.

The general decline in Dukascopy’s Revenues in 2024 was as a result of a drop within the firm’s core Buying and selling Earnings, from CHF 19.1 million in 2023 to CHF 15.2 million in 2024. Greater than half (57%) of Buying and selling Earnings at Dukascopy in 2024 got here from shopper FX buying and selling. Crypto buying and selling, though up from 2023, accounted for simply 4% of Buying and selling Earnings.

By comparability, Dukascopy’s (a lot bigger) Switzerland primarily based rival Swissquote posted document outcomes on each the highest and backside line for 2024.

Dukascopy headcount was lowered for the second yr in a row, 98 throughout 2023 to 94 in 2024.

Firms inside Dukascopy Group are regulated in Switzerland, Latvia and Japan. The Latvian entity, Dukascopy Europe has a license to function within the European Union. Based in 2004, Dukascopy is managed by its founders Andrey and Veronika Duka, who function co-CEOs of the corporate.

Dukascopy’s 2024 consolidated earnings assertion and stability sheet observe.