Marex reports strong Q4 growth and profitability, with revenue up 28%, higher trading income, and increased profit margins.
Marex reports strong Q4 growth and profitability, with revenue up 28%, higher trading income, and increased profit margins.
Marex Group has announced its financial results for the fourth quarter and full year ending December 31, 2024. Marex reports a strong Q4, highlighting significant revenue growth and improved profitability. The global financial services platform, serving clients in energy, commodities, and financial markets, recorded a 28% revenue increase, reaching $415.6 million, up from $325.6 million in the same period last year.
Strong client activity, increased market share, and favorable market conditions fueled this growth. Net commission income rose by 25% year-over-year, reaching $226.0 million. A significant driver of this increase was the performance of Agency and Execution services, which expanded by 22% to $160.7 million, reflecting heightened activity in the Energy sector.
The acquisition of TD Cowen’s prime services business in December 2023 also contributed to revenue growth in Securities. Net trading income saw a 15% boost, climbing to $128.1 million, with Hedging and Investment Solutions experiencing a notable 24% rise due to higher demand for financial products.
Net interest income surged by 107% to $62.6 million, supported by higher average balances. Meanwhile, front office costs grew by 23% to $231.8 million, reflecting a 14% rise in front office headcount and increased compensation tied to higher revenues.
The company’s profitability improved significantly, with reported profit before tax nearly doubling to $77.8 million, marking a 97% increase. Adjusted profit before tax rose by 55% to $81.4 million, while the adjusted profit before tax margin improved to 20% from 16% in the previous year. Similarly, the profit after-tax margin climbed to 14%, up from 9% in Q4 2023.
In light of the strong performance, Marex’s Board of Directors declared an interim dividend of $0.14 per share. The dividend is set to be paid on March 31, 2025, to shareholders recorded as of March 17, 2025. The company’s strong financial results underscore its successful expansion efforts and its ability to capitalize on favorable market conditions, setting a positive outlook for the future.
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