Trading update and notice of results
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Published:
January 25, 2024
Most recent
Aquis Exchange PLC (AQX.L), a creator and facilitator of next-generation financial markets, provides an unaudited trading update for the year ended 31 December 2023 (“FY23”).
Aquis is pleased to confirm that it expects to report performance for FY23 in line with Board expectations.
Expected Group financial highlights:
- Net revenue up 12% to £22.6m (FY22 £20.1m)
- Profit before tax up 16% to £5.2m (FY22 £4.5m)
- Cash and cash equivalents at 31 December 2023 up 4% to £14.8m (31 December 2022: £14.2m)
Expected net revenue split by division:
| FY23 (£m) | FY22 (£m) | ||
|---|---|---|---|
| Markets | 11.0 | 10.3 | +7% |
| Technologies | 6.2 | 5.2 | +19% |
| Data | 3.7 | 3.0 | +23% |
| Aquis Stock Exchange | 1.7 | 1.6 | +6% |
| 22.6 | 20.1 | +12% |
Business highlights:
- Aquis Markets increased market share following change to proprietary trading rule in November 2023. The overall pan-European market share for December 2023 was 4.97%, up from 4.76% in November and 4.58% in October 2023. The January 2024 average to date is 5.21%.
- Aquis Technologies was awarded two new technology contracts in 2023, including one for a central bank. In addition, an existing contract moved from design and consultancy to exchange delivery stage. The division now has nine contracts, seven of which have recognised revenue.
- Aquis Data increased revenue by over 20% from the sale of Aquis Markets and Aquis Stock Exchange data to non-Member market participants. We continue to expect significant benefit from the advent of EU and UK consolidated tapes.
- Aquis Stock Exchange admitted 16 new companies in 2023 – the most of any growth exchange in the UK for the second year running.
Alasdair Haynes, CEO, Aquis Exchange PLC said:
“In a year marked by uncertainty and difficult market conditions, I am really pleased to report another year of double-digit revenue growth for Aquis Exchange, alongside many successful strategic developments for the Group for which we expect to see the benefits in both near and long term. We are well positioned for the future and look forward to delivering throughout 2024 and beyond.”
“In a year marked by uncertainty and difficult market conditions, I am really pleased to report another year of double-digit revenue growth for Aquis Exchange, alongside many successful strategic developments for the Group for which we expect to see the benefits in both near and long term. We are well positioned for the future and look forward to delivering throughout 2024 and beyond.”
The Group expects to announce its audited results for FY23 on 21 March 2024.
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Enquiries:
Aquis Exchange PLC +44 (0)20 3597 6321
Alasdair Haynes, CEO
Richard Fisher, CFO
Adele Gilbert, Head of Marketing & Investor Relations
Alasdair Haynes, CEO
Richard Fisher, CFO
Adele Gilbert, Head of Marketing & Investor Relations
Investec Bank plc (Nominated Adviser and Broker) +44 (0)20 7597 4000
David Anderson
Bruce Garrow
Lydia Zychowska
St John Hunter
David Anderson
Bruce Garrow
Lydia Zychowska
St John Hunter
Canaccord Genuity Limited (Joint Broker) +44 (0) 20 7523 8000
Emma Gabriel
George Grainger
Emma Gabriel
George Grainger
VSA Capital Limited (AQSE Corporate Adviser) +44(0)20 3005 5000
Andrew Raca
Andrew Raca
Alma Strategic Communications (Financial PR Adviser) +44 (0)20 3405 0209 / aquis@almastrategic.com
Josh Royston
Rebecca Sanders-Hewett
Kieran Breheny
Josh Royston
Rebecca Sanders-Hewett
Kieran Breheny
Notes to editors:
About Aquis Exchange PLC
Aquis Exchange PLC (“Aquis”) is a creator and facilitator of next-generation financial markets, through the provision of accessible, simple and efficient stock exchanges, trading venues and technology.
Aquis consists of four divisions:
Aquis Markets operates lit and dark order books, covering 16 European markets. For its lit books, Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.
Aquis Technologies is the software and technology division of Aquis. It focuses on building better markets via the creation and licensing of cutting-edge, cost-effective exchange infrastructure technology and services, including matching engine and trade surveillance solutions.
Aquis Data generates revenue from the sale of data derived from Aquis Markets and Aquis Stock Exchange to non-Member market participants.
Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue. The AQSE Growth Market is divided into two segments 'Access' and 'Apex'; the Access market focuses on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
Aquis is authorised and regulated by the UK Financial Conduct Authority and France's Autorité de contrôle prudentiel et de résolution and L’Autorité des marchés financiers to operate Multilateral Trading Facility businesses in the UK & Switzerland markets and in EU27 markets respectively. Aquis Exchange PLC is quoted on the Aquis Stock Exchange and on the AIM Market (AIM) of the LSE. For more information, please go to www.aquis.eu.