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Marex Group plc announces record fourth quarter and full year 2024 results
MRXMarex Group plc(MRX) Newsfilter·2025-03-06 12:00

Core Viewpoint - Marex Group plc reported strong financial results for Q4 2024 and the full year 2024, driven by robust client activity and favorable market conditions, achieving a 40% year-over-year increase in Adjusted Profit Before Tax to 321.1million[2][4].FinancialHighlights−Q42024revenueincreasedby28321.1 million [2][4]. Financial Highlights - Q4 2024 revenue increased by 28% to 415.6 million compared to Q4 2023 [3][13]. - Full year 2024 revenue also rose by 28% to 1,594.7millionfrom1,594.7 million from 1,244.6 million in 2023 [20][27]. - Profit Before Tax for Q4 2024 surged by 97% to 77.8million,whileforthefullyear,itincreasedby5177.8 million, while for the full year, it increased by 51% to 295.8 million [10][25]. - Adjusted Profit Before Tax for Q4 2024 was 81.4million,a5581.4 million, a 55% increase from Q4 2023, with a margin improvement to 20% [19][27]. - Profit After Tax for Q4 2024 was 56.7 million, up 102% year-over-year [10][19]. Operational Performance - Average invested assets grew by 12% in Q4 2024 to 15.5billion,contributingtonetinterestincomeof15.5 billion, contributing to net interest income of 62.6 million, a 107% increase from Q4 2023 [4][16]. - Net commission income for Q4 2024 rose by 25% to 226.0million,drivenbyincreasedactivityinAgencyandExecutionservices[15][21].−Nettradingincomeincreasedby15226.0 million, driven by increased activity in Agency and Execution services [15][21]. - Net trading income increased by 15% to 128.1 million, with significant growth in Hedging and Investment Solutions [16][22]. Strategic Initiatives - The company executed a growth strategy that included geographic expansion and product capability enhancement through organic growth and strategic acquisitions [2][4]. - Marex successfully completed its IPO in April 2024 and a follow-on transaction in October, increasing its public float to 52% [4][27]. - A prudent approach to capital and funding was maintained, with a 600millionseniorunsecuredissuance[4].SegmentPerformance−TheClearingbusinesssawrevenueincreaseby48600 million senior unsecured issuance [4]. Segment Performance - The Clearing business saw revenue increase by 48% to 124.7 million in Q4 2024, driven by net interest income growth [31][33]. - Agency and Execution revenues grew by 22% to 192.2millioninQ42024,supportedbystrongperformanceinSecuritiesandEnergymarkets[41][43].−MarketMakingrevenueincreasedby19192.2 million in Q4 2024, supported by strong performance in Securities and Energy markets [41][43]. - Market Making revenue increased by 19% to 44.5 million in Q4 2024, with notable growth in Agriculture and Securities [48][49]. Future Outlook - The company anticipates continued positive momentum into 2025, reflecting strong client activity and higher exchange volumes [2][4]. - An investor day is scheduled for April 2, 2025, to provide further insights into the company's business segments [7].