FINAL RESULTS YEAR ENDED 31ST DECEMBER 2019

April 16, 2020

Aquis Exchange PLC (AQX.L) is pleased to announce its audited results for the year ended 31 December 2019. 

16 April 2020

Aquis Exchange PLC ("Aquis", the "Company" or the "Group")

Final results for the year ended 31 December 2019.

Aquis Exchange PLC (AQX.L), the exchange services group, is pleased to announce its audited results for the year ended 31 December 2019.

Highlights:

  • Revenue increased 73% to £6.9m (2018: £4.0m)
  • Adjusted EBITDA loss of £0.2m1 (2018: £2.1m loss2)
  • Loss after tax decreased 77% to £0.8m (2018: £3.4m loss)
  • Cash and cash equivalents at 31 December 2019 of £11.0 m (31 December 2018: £11.6m)
  • Market share of pan-European continuous trading increased to 4.62% during 4Q19 (2018: 3.8%)
  • Market at Close (MaC) order type gained significant traction: the market share of total pan-European closing auctions rose from 0.36% in August to 3.52% in December
  • Aquis was the first MTF to achieve dual-trading status in European equities, in preparation for Brexit

Post period highlights

  • Completed the milestone acquisition of NEX Exchange (now “Aquis Stock Exchange” or “AQSE”), marking entry into Primary Listings
  • Completed the listing of the first business onto Aquis Stock Exchange under new ownership, heavily oversubscribed and with significant institutional support shown
  • Trading continued to be in line with market expectations

COVID-19:

  • Aquis’ technology systems are dealing efficiently with higher market volumes
  • The exchange is being run remotely
  • The longer term economic impact remains difficult to predict 

1Includes the application of the new accounting standard IFRS 16: Leases
2Not adjusted for the new accounting standard IFRS 16: Leases

Alasdair Haynes, Chief Executive Officer of Aquis, commented:

“Against a challenging market backdrop, Aquis delivered substantial operational and financial progress during 2019. It is very pleasing to see our adjusted EBITDA figure reaching near break-even, as revenues continue to grow across all business divisions and the MaC leads the field among closing auction alternatives in the market. 

“Last month we were delighted to complete our acquisition of NEX Exchange, now renamed the Aquis Stock Exchange, and to list our first company on to it a few weeks later. Developing this market into the future-facing, disruptive home for quality growth businesses will be a key focus for us during the year ahead.

“Notwithstanding the impact of the COVID-19 pandemic, our aim is to take the Group to the next level of operational, financial and strategic success in 2020. We look forward to continuing to build value for all our stakeholders.”

This announcement contains inside information for the purposes of EU Regulation 596/2014.