Admirals Group Plans Restructuring After €18.5 Million Loss

Admirals Group Plans Restructuring and surrenders its Estonian license after reporting an €18.5 million loss in 2025.

Key Points:

• Admirals Group reports an €18.5 million loss in 2025 and plans to surrender Admiral Markets AS’s Estonian investment firm license in Q2 2026.
• The group launched a buyback offer for up to 13,535 Tier 2 bonds at €103.21 per bond, running from 19 March to 2 April 2026.

Admirals Group AS, the retail FX and CFDs broker, has announced plans to restructure its operations after reporting a collapse in its revenue base and an €18.5 million loss in 2025. Consequently, operating subsidiary Admiral Markets AS intends to relinquish its investment firm license in Estonia, its home market.

Admirals Group Plans Restructuring After €18.5 Million Loss

In addition, the group currently holds licenses from several major regulators globally, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Jordan Securities Commission (JSC) in Jordan, the Capital Markets Authority (CMA) in Kenya, and the Financial Services Authority (FSA) in Seychelles.

Specifically, the company cited a strategic need to optimise its geographical footprint by concentrating on markets with stronger growth opportunities and clearer strategic focus. As a result, existing group clients will remain unaffected by the ongoing changes.

Nevertheless, despite the restructuring, the group will retain Estonia as a strategic base. Notably, approximately 60 employees will continue to operate from the company’s headquarters in Tallinn. Furthermore, Admiral Markets AS has already submitted an application to the Financial Supervision Authority to relinquish its investment firm license, with the revocation expected in the second quarter of 2026.

Meanwhile, alongside the restructuring, Admiral Markets AS launched a buyback offer for up to 13,535 Tier 2 bonds (ISIN EE3300111251, nominal value €100 per bond, maturity date 28 December 2027). Accordingly, the offer runs from 19 March 2026 to 2 April 2026 for €103.21 per bond, with a value date of 8 April 2026. Importantly, the buyback is directed solely at current bondholders of Admiral Markets AS.

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