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Final results for the year ended 31 December 2022



March 30, 2023

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24% increase in net revenue marks continuation along growth trajectory
Aquis Exchange PLC (AQX.L), the creator and facilitator of next-generation financial markets, is pleased to announce its audited results for the year ended 31 December 2022.

Financial highlights:

  • Net revenue up 24% to £20.1m (FY21: £16.2m)
  • Profit before tax up 27% to £4.5m (FY21: £3.6m)
  • Underlying profit* up 41% to £4.7m (FY21: £3.3m)
  • Basic EPS of 17p (FY21: 17p)
  • Cash and cash equivalents at 31 December £14.2m (31 December 2021: £14.0m), with no debt held

Business highlights:

  • Launch of Aquis Matching Pool (AMP) further diversified the Aquis Markets offering into dark pools, offsetting a decrease in lit volumes across the market
  • Membership of Aquis Markets grew to 41 (FY21: 38)
  • Increasing levels of interest in Aquis Technologies' pioneering exchange technology, with the offering expanding to include a 24/7 Matching Engine. In 2022, Aquis Technologies extended one contract and secured two new contracts, bringing the total to seven
  • Despite adverse market conditions, Aquis Stock Exchange delivered an impressive 22 new IPOs in 2022: the most of any growth company exchange in the UK

Post-period highlights:

  • Encouraging start to current trading, with the Company’s trading in line with expectations, notwithstanding continued macroeconomic uncertainty
  • Successfully completed a Company rebrand in Q1 23, updated to reflect the diversification across three business units and four revenue streams
*Underlying profit refers to profit before tax plus other comprehensive income. This measure has been calculated in order to make appropriate comparison with FY21, taking into account an adjustment made for FX arising on consolidation since the publication of FY21’s ARA.
Alasdair Haynes, Chief Executive Officer of Aquis, commented:
“I am very pleased to be reporting another year of significant growth for Aquis, with net revenue up 24% and underlying profit increased by 41% from FY21. The Group profited from significant growth in the technologies division, along with strong performances in pan-European secondary market trading, the primary market activities of Aquis Stock Exchange and data revenue.
From the fledgling pan-European secondary market equities trading platform that we launched a decade ago, it is edifying to see Aquis transform into a profitable and growing Group that creates and facilitates next-generation financial markets. In 2022, we saw milestones reached in each division with the launch and growth of the Aquis Matching Pool (AMP); significant interest in Aquis Technologies’ pioneering exchange technology and particularly its cloud-native and 24/7 functionality, and an impressive 22 new listings on the Aquis Stock Exchange – the most of any growth exchange in the UK.
Amidst changing market dynamics in the UK and abroad, there are significant opportunities for Aquis across all divisions, and we are looking forward to continuing our growth strategy. Trading so far has been in line with market expectations.”
An overview of the results from Alasdair Haynes, CEO, is available to view on this link.
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