Aquis Exchange : HY 2022 Results

Results for the period ended 30 June 2022

© Aquis Exchange PLC 2022. This report is for the general information only and does not constitute investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. Although care is taken to ensure that that the information is accurate and up to date, Aquis Exchange PLC cannot accept any responsibility for mistakes or omissions.

Aquis Exchange PLC at a glance
The Company				Aquis Exchange PLC
		Aquis		Aquis Stock	Aquis
3 Divisions		Exchange		Exchange (AQSE)	Technologies
		Operator of MTFs		Primary listings	Developer of
		and related services		and trading businesses	exchange technology
					and services
Multiple Products & Services	▪	MTF (UK & France)	▪	AQSE Main Market (RIE)	▪	Aquis Matching Engine
	▪	AMP	▪	AQSE Growth Market	▪	Aquis Market
	▪	Data Services		(MTF)		Surveillance
			▪	AQSE Trading (MTF)	▪	Aquis Market Gateway
					▪	Services
						▪	Surveillance
						▪	Operations

Good revenue progress across all business activities

1

2

3

A 21% increase in net	Increasingly diversified	AMP Successfully
revenue despite	All three divisions now	integrated delivering a
difficult market	0.5% average increase
profitable
conditions	to market share

4

5

6

Good growth in Aquis	Growth of Aquis Stock	An encouraging start
Technologies and data	Exchange continues	to H2 22 with strong
revenue lines	with 12 new listings in	technology licence
	H1 2022	momentum

2

Material progress achieved on key strategic goals during the period

Positioning

• Overall business underpinned by compelling model, strength of technology and continued innovation
• Benefits of diversification starting to show in revenue
• Planned investments in staff hires to invest in future growth and expansion of capabilities

Market backdrop

• Continued volatility through H1 2022, continuing into H2 2022, resulting in higher overall pan-European market volumes but lower market share

Continued strengthening of Board and Executive Resources

• Richard Fisher appointed as CFO, with Jonathan Clelland remaining on Board as COO of the PLC and CEO for the growing French subsidiary AQEU
• Formal appointment of Dr. Ruth Wandhöfer and Fields Wicker-Miurin OBE FKC to Aquis Exchange PLC Board
• Material strengthening of IT development team enhancing R&D capability

21%

Increase in Net

Revenue

Exchange + 10%

Licensing + 75%

Issuer + 24%

Data + 29%

FY 2021:

39 42

Members across AQXE

& AQSE

12

IPOs on Aquis Stock H1 2021: Exchange

14

3

Signed technology licences to add to future revenue streams

10

New hires in 2022 year to date as part of planned investment in our capabilities

3

Revenue continuing to grow strongly at same time as we invest for the future

£m	1H22	1H21	% change
Exchange Revenue	5.4	4.9	10%
Licensing & other Revenue	0.7	0.4	75%
Data	1.4	1.1	29%
Issuers	0.4	0.3	24%
Revenue	7.9	6.7	17%
Provision release	0.4	0.2	140%
Net Revenue	8.3	6.9	21%
Expenses	(6.9)	(5.3)	30%
EBITDA	1.4	1.6	-13%
Depreciation, Amortisation &
Interest income/expense	(0.7)	(0.6)	20%
PBT	0.7	1.0	-31%
Tax	0.0	0.0	0%
PAT	0.7	1.0	-31%
EPS (basic)	2.5p	3.7p	32%

1 January - 30 June (2022 vs 2021)

• Strong growth in net revenue, up 21%
• Deliberate planned investment in technology and development with expenses up 30%
• PBT in H1 slightly declines to £0.7m as a result of increased strategic investment for future growth

4