Revenue Jump Driven by Acquisition
Aquis Exchange, the London-based stock exchange operator, reported an 18% rise in revenue to £27.8 million for the year ended December 31, 2024. The growth was primarily fueled by its acquisition of Six Exchange, which contributed £4.2 million in revenue since the deal closed in July 2024.
Financial Performance Details
The company's underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 12% to £9.1 million, while pre-tax profit rose 8% to £6.5 million. According to Aquis, the acquisition of Six Exchange has already exceeded its cost-saving targets, generating annualized synergies of £1.5 million.
Impact of the Six Exchange Deal
Aquis acquired Six Exchange, a Swiss-based trading venue, for an initial consideration of £25 million, with additional earn-out payments tied to performance. The deal expanded Aquis's European footprint and added new asset classes, including Swiss equities and exchange-traded funds. CEO Alasdair Haynes said, "The integration of Six Exchange has been seamless, and we are already seeing the benefits in our revenue and cost base."
Outlook for 2025
Looking ahead, Aquis expects continued growth from its core exchange business and the Six Exchange platform. The company plans to invest in new technology and expand its derivatives offering. Haynes added, "We remain focused on delivering value to shareholders through organic growth and strategic acquisitions."
