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Interim results for the six months ended 30 June 2019



September 17, 2019

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Aquis Exchange PLC (AQX.L) is pleased to announce its unaudited results for the six months ended 30 June 2019.
  • Revenue increased 165% to £3.4 million (HY 20181: £1.3 million)
  • EBITDA2 loss of £0.16 million (HY 20183: £1.6 million loss)
  • Cash and cash equivalents at 30 June 2019 of £11.2 million (30 June 2018: £13.1 million)
  • Trading Members on Aquis Exchange grew from 27 to 29 during the six month period
  • Market share of overall pan-European continuous trading grew over the period to 4.8% 2Q19 (3.8% 4Q18), with the share of available liquidity also increasing
  • Through its French subsidiary, Aquis became the first MTF to achieve dual-trading status in European equities, in preparation for Brexit
  • Successful deployment of several technology implementations
Post-period highlights:
  • Agreed acquisition of the NEX Exchange subject to FCA approval, marking entry into Primary Listings
  • Current trading in line with market expectations for the full year
1HY 2018 restated for the application of accounting standards IFRS 15 and IFRS 9
2Includes the application of the new accounting standard IFRS 16: Leases
3HY 2018 excludes exceptional costs relating to the IPO
Alasdair Haynes, Chief Executive Officer of Aquis, commented:
“We are pleased to report on another strong period of growth, demonstrating the growing acceptance of our unique, subscription-based pricing model for trading. Revenue grew 165% year-on-year, and our average market share increased once again, to 4.8% of all continuous European equity trading, despite having faced a number of external headwinds. Growth is being driven by our existing Members increasing their trading volumes through the Exchange, new Members joining and increased technology licensing revenue. Following the approval in January for our French MTF, we became the first UK MTF to be ‘Brexit-ready’, underling the agility of our business and commitment to our Members.
“We were delighted to announce in July our agreement to acquire the NEX Exchange, marking our intention to enter the primary listings market, taking us another significant step forward towards achieving our ambition to become the leading exchange services group in Europe.
“While we anticipate the current political and economic uncertainty will continue to impact market participants in the short to medium term, we have proven we have the right model, team, technology and vision to deliver shareholder value and look to the future with confidence.”
This announcement contains inside information for the purposes of EU Regulation 596/2014.
The full PDF document can be viewed in our investor section by clicking here and selecting 'Annual and Interim Reports'.
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