Freedom Holding Corp reports a strong growth in revenue in the fiscal year 2025, driven by mediation and banking sectors

News FetcherFebruary 7, 2025

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Freedom Holding Corp reports a strong growth in revenue in the fiscal year 2025, driven by mediation and banking sectors

summary:

In October 2024, Freedom Holding Corp. On Elitecom, a telecommunications services company, for $ 3 million.

Freedom Holding. (NASDAQ: FRHC), a financial services company in the United States, announced its financial results for the quarter ending on December 31, 2024. The holding company announced a 57 % increase in total revenue, as revenues amounted to 655.2 million dollars compared to $ 418.6 in the same quarter From 2023, total assets rose to $ 9.1 billion from $ 8.3 billion as of March 31, 2024.

The company’s revenues increased due to an increase in net profit on commercial securities, which increased from a loss of $ 5.1 million to $ 89.6 million. In addition, the company’s performance was dramatically strengthened through its insurance income, which increased by 125 % to 177.5 million dollars, reflecting the expansion of pensions and accident insurance operations. The banking sector also showed strong growth, with a 47 % increase in revenue compared to the same period last year.

“In the era of globalization, we build the ecosystem of freedom as a unified platform where the various business sectors – starting with banking services and insurance to lifestyle services – interacts smoothly to serve more than 7 million customers. In recent times, the Holding Holding revenues have become significantly more diverse; Torlaov, Freedom Holding, while the brokerage was one day the primary income engine, the revenues are evenly distributed through the insurance sectors and banking services, creating a more stable and balanced environmental system. “

Part performance

MediationRevenue increased by 29 % to 213.3 million dollars, driven by increasing net gains on commercial securities, income fees and commission income.

Banking: Revenue increased by 47 % to $ 206.4 million, with the support of net gains on securities and derivatives.

insurance: Revenue has doubled to $ 197.8 million, which reflects the strategic growth in insurance

The subscription entered.

Other slices: Revenue grew by 120 % to 37.7 million dollars, due significantly to net gains in foreign exchange operations.

Despite the growth of strong revenue, the company’s net income decreased by 19 % to $ 78.1 million, compared to $ 96.1 million in the previous year. This was due to the increase in fees, commission expenses, public and administrative expenditures, salaries and bonuses, advertising costs and stock compensation expenditures. The total expenses per quarter reached $ 556.9 million, an increase of 307.0 million dollars in the fiscal year 2024.

During the same period, the fees and the commission entered more than $ 120.2 million to 143.4 million dollars.

Freedom Holding Corp is still committed to expanding its product portfolio, improving operational efficiency, benefiting from emerging market opportunities, and considering selective acquisitions. In October 2024, the company acquired Elitecom, a telecommunications services company, for $ 3 million. Licensing and acquired assets will be used to develop the Freedom Holding communication business.

About Freedom Holding Corp.

Freedom Holding Corp. It is an international group of financial and investment services specializing in capital markets, asset management and mediation services.

The joint shared shares of Freedom Holding Corp are registered at the American Securities, Exchange and Trade Committee on the Nasdaq Capital Stock Exchange according to the FRHC code. The company has the main operating market in Kazakhstan and operates through its subsidiaries in 22 countries. With a strong presence in Central Asia, Europe and the United States, the company is committed to providing innovative financial products to individual and institutional investors.

For more information, please visit www.freedomholdingcorp.com