Final results for the year ended 31 December 2023
0
Published:
March 21, 2024
Most recent
Aquis Exchange PLC (AQX.L), a creator and facilitator of next-generation financial markets, is pleased to announce its audited results for the year ended 31 December 2023.
Financial highlights:
- Net revenue up 13% to £22.7m (2022: £20.1)
- Profit before tax up 15% to £5.2m (2022: £4.5m)
- Basic EPS (p) up 13% to 19.4p (2022: 17.2p)
- Cash and cash equivalents up 4% to £14.8m (2022: £14.2m)
Net revenue split by division:
| FY23 (£m) | FY22 (£m) | ||
|---|---|---|---|
| Markets | 10.9 | 10.3 | 7% |
| Technologies | 6.3 | 5.2 | 22% |
| Data | 3.7 | 3 | 24% |
| Aquis Stock Exchange | 1.8 | 1.6 | 8% |
| Group Net Revenue: | 22.7 | 20.1 | 13% |
Business highlights:
- Strong performance particularly noteworthy given difficult market conditions
- Clear benefit of diversified revenue streams, with revenue growth and profit across all four divisions
- 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 2023 and 4.58% in October 2023. Post-period, the average in January 2024 was 5.3% and in February 2024 had risen to 5.46%.
- Aquis Technologies was awarded two new technology contracts in 2023, including one for a central bank. In addition, an existing contract progressed from design and consultancy to exchange delivery stage. The division now has nine contracts, seven of which have recognised revenue.
- Aquis Data revenues continued to increase to £3.7m in the year and good progress seen towards a consolidated tape.
- 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:
“I am really pleased to announce that the Aquis Group has continued to deliver a strong performance with double digit revenue and profit growth across all divisions, despite some of the most challenging market and economic conditions we have ever seen, which have continued into the first quarter of 2024.
“This makes it all the more noteworthy that Aquis was able to deliver growth across all its divisions, with significant progress made on a number of strategic initiatives, including an increase in the pan-European market share of our Aquis Markets division, and a significant Technology contract secured with a central bank.
“Aquis has a proven track record of growth since our IPO in 2018, and we’re more excited than ever about the opportunities ahead for all of our divisions: from the global reach of our leading technology to the strength of our market share, and the disproportionate upside for Aquis as the UK and EU head towards a consolidated tape. Supporting this confidence is our strong cash position, which enables us to grow and innovate further in coming years.”
An overview of the results from Alasdair Haynes, CEO, is available to view on this link.