Israel-based and London-listed online trading platform Plus500 Ltd. expects revenue of about $354 million and EBITDA of about $190 million for the financial year ended Dec. 31, 2019.
For full year 2018, the company reported $720.4 million in revenue and EBITDA of $506.0 million. The projected decline in revenue comes after a series of regulatory measures on contract-for-difference bets, City A.M. reported.
CEO Asaf Elimelech, however, said the company finished the year in "good financial and operational shape following a period of change for the industry, which has provided a more certain regulatory outlook for Plus500."
"Looking to 2020, we are confident of the prospects for the group as we focus on further strengthening our customer offering and market positions," Elimelech added.
Plus500's shares fell 3.31% to 825 pence as of 11:38 a.m. London time on Jan. 6 before rising 0.44% as of 1:23 p.m.
The company will issue its preliminary results for 2019 on Feb. 12.