SGX records net profit of $221.8m in H1 FY2022

Adjusted EBITDA was at $309.6m.

An adjusted net profit of $221.8m was reported by the Singapore Exchange (SGX) in its latest financial summary.

Total revenue of $521.6m was also recorded, with core businesses experiencing a 6% monthly rise in profits to $501m. Subsidiaries of the business, BidFX and Scientific Beta, achieved a 20% increase in revenues to $40.4m. This made up for 8% of SGX’s revenue. 

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the period was at $309.6m, whilst adjusted per share was at 20.7 cents.

“Our underlying core revenue has grown, with a strong performance in our currencies and commodities, healthy market share and yields for our key equity derivative products, as well as steady growth in our market data and index business. In the last two years, we have made $1b worth of acquisitions and investments to leapfrog our multi-asset strategy and capture the growth opportunities across asset classes and platforms,” said Loh Boon Chye, CEO, SGX.

Total foreign exchange (FX) average daily volume, which is made up of both on-exchange futures and OTC, was up 46% to $76.62b (US$ 57b). 

SGX’s FX ECN also went live in November 2021, whilst the acquisition of FX platform MaxxTrader was completed in January 2022. 

“We will continue to broaden our securities and derivatives product shelf, enhance our global connectivity to facilitate new capital flows, and boost our digitalisation and sustainability efforts. On the capital raising front, we are seeing clear interest from potential issuers on the back of our new Special Purpose Acquisition Companies (SPACs) framework and joint interagency funding initiatives[3] for high-growth companies. Overall, we are optimistic of the opportunities ahead as an expanded SGX Group,” said Loh.