Marex reports 31% Y/Y growth in revenues for FY 2021
Marex Group today reported its full-year results to 31 December 2021, marking strong growth in revenue and profit.
Net revenue increased 31% to $543 million with strong performance across all segments, particularly market making and Execution and Clearing, combined with significant contribution from Solutions which delivered over 100% increase in net revenues.
Market Making revenues increased 29% to $131.1 million (2020: $101.2 million) as Metals and Agricultural franchises benefited from rising market volatility and improving market conditions, combined with strong performance. Recent acquisitions continued to perform strongly and contribute to the growth delivered in 2021.
Execution and Clearing revenues increased 33% to $183.0 million (2020: $138.1 million) with energy, metals and agriculture businesses all significant contributors to these numbers, supported by the first full year’s net revenues from XFA.
The Solutions segment continued to deliver very strong growth for Marex, with Net Revenue and Adjusted Operating PBT more than doubling in 2021, as Marex expanded its distribution network. The number of clients who access Marex’s solutions increased 25% to almost 400.
Price Discovery revenues increased 5% to $134.7 million (2020: $127.9 million), with consistent demand for Marex’s liquidity provision services during the year, combined with higher front office headcount.
Data & Advisory revenues increased 64% to $5.9 million (2020: $3.6 million), which included a one-off gain from the disposal of intellectual property.
Ian Lowitt, Marex CEO, commented:
“We have seen a very strong start to 2022. Looking ahead, I am confident that we will continue to deliver strong growth, both organically and through strategic bolt-on acquisitions, as we continue to build on our strategic growth plans. Furthermore, inflation in the real economy will likely translate into rising short-term interest rates, which is also positive for our business.”