FXCM Group Provides Financial Information for Full Year 2016 and Q1 2017
(Thomson Reuters ONE) -
NEW YORK, May 25, 2017 (GLOBE NEWSWIRE) -- FXCM Group, LLC ("FXCM Group" or
"FXCM"), a leading international provider of online foreign exchange trading,
CFD trading, spread betting and related services, today provided selected
financial information regarding its first quarter 2017 and full year 2016
results.
"In the first quarter of this year we were able to generate positive Adjusted
EBITDA of $6.7 million in a difficult environment of low volatility," said
Brendan Callan, CEO of FXCM. "This is in large part due to a substantial cost
reduction effort that leaves us well positioned for profitability moving
forward."
"With the recently announced sale of our stake in FastMatch, we expect our
balance sheet to further improve as we continue to pay down our debt to
Leucadia," continued Callan. "We remain very optimistic about the future of our
business."
FXCM Group, LLC (US Millions) (unaudited)
Selected Income Statement Data
Three months ended March 31, 2017
Total Net Revenues $45.9
Operating Expenses(1) $39.1
Loss from Continuing Operations ($10.4)
Net Loss ($28.2)
Adjusted EBITDA - Continuing Operations(2) $6.7
(1) Excludes depreciation & amortization of $5.1 million
(2) See reconciliation following
Selected Balance Sheet Data
As at March 31, 2017
Cash and Cash Equivalents $141.7
Cash and cash equivalents, held for customers $380.3
Total Assets $640.6
Credit Agreement to Leucadia $121.1
Total Members' Capital $59.0
For 2016, selected financial information is as follows:
FXCM Group, LLC (US Millions) (unaudited)
Selected Income Statement Data
Twelve months ended December 31, 2016
Total Net Revenues $284.1
Operating Expenses(1) $243.7
Income from Continuing Operations $188.7
Net Income $128.2
Adjusted EBITDA - Continuing Operations(2 ) $37.4
(1) Excludes depreciation & amortization of $25.2 million
(2) See reconciliation following
Selected Balance Sheet Data
As at December 31, 2016
Cash and Cash Equivalents $198.9
Cash and cash equivalents, held for customers $428.5
Total Assets $1,012.2
Credit Agreement to Leucadia $150.5
Total Members' Capital $89.9
Reconciliation of U.S. GAAP Net Income (Loss) to Adjusted EBITDA(1) - Continuing
Operations
Three
Months Twelve Months
Unaudited Ended Ended
March December
US Millions 31, 2017 31, 2016
Net (Loss)
Income $ (28.2 ) $ 128.2
Adjustments:
Net Loss attributable to non-controlling
interests(2) (9.8 ) (57.3 )
Loss from discontinued operations, net of tax(3) 27.7 117.9
Income tax (benefit)
provision (0.1 ) 1.3
Interest on borrowings 11.5 66.1
Loss (gain) on derivative liabilities - Leucadia
financing(4) 0.6 (206.8 )
Gain on sale of
investment(5) (37.2 )
Depreciation and
amortization 5.1 25.2
------------- --------------
Total
Adjustments 35.0 (90.8 )
------------- --------------
Adjusted EBITDA(1) - Continuing Operations $ 6.7 $ 37.4
------------- --------------
(1) - Adjusted EBITDA from Continuing Operations is a Non-GAAP measure that is
not prepared under any comprehensive set of accounting rules or principles and
does not reflect all of the amounts associated with the Company's results of
operations as determined in accordance with U.S. GAAP.
(2) - Represents the elimination of the share of net loss allocated among the
non-controlling interests to calculate total consolidated net income (loss) from
the Company's operations.
(3) - Represents the elimination of the loss attributable to discontinued
operations, net of tax, in order to calculate income attributable to continuing
operations only.
(4) - Represents the elimination of the loss or gain attributable to the
derivative liabilities embedded in the Company's financing agreement with
Leucadia, as it is a non-operating, non-cash loss or gain.
(5) - Represents the elimination of the gain on sale of investment due to the
non-recurring nature of this item.
About FXCM Group, LLC
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading,
spread betting and related services. The company's mission is to provide global
traders with access to the world's largest and most liquid market by offering
innovative trading tools, hiring excellent trading educators, meeting strict
financial standards and striving for the best online trading experience in the
market. Clients have the advantage of mobile trading, one-click order execution
and trading from real-time charts. In addition, FXCM offers educational courses
on FX trading and provides trading tools proprietary data and premium
resources. FXCM Pro provides retail brokers, small hedge funds and emerging
market banks access to wholesale execution and liquidity, while providing high
and medium frequency funds access to prime brokerage services via FXCM Prime.
Trading foreign exchange and CFDs on margin carries a high level of risk, which
may result in losses that could exceed your deposits, therefore may not be
suitable for all investors. Read full disclaimer.
FXCM Group is a holding company of Forex Capital Markets Limited, inclusive of
all EU branches (FXCM UK), FXCM Australia Pty. Limited (FXCM AU), and all
affiliates of aforementioned firms, or other firms under the FXCM group of
companies [collectively "FXCM"].
Jaclyn Sales, 646-432-2463
Vice-President, Corporate Communications
jsales(at)fxcm.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FXCM, Inc. via GlobeNewswire
Datum: 25.05.2017 - 13:59 Uhr
Sprache: Deutsch
News-ID 544622
Anzahl Zeichen: 8653
contact information:
Town:
New York
Kategorie:
Business News
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"FXCM Group Provides Financial Information for Full Year 2016 and Q1 2017"
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