Full Year 2026 ASX Ltd Earnings Call Transcript
Key Points
- ASX Ltd (ASXFF) delivered a strong financial result with operating revenue increasing 13.3% to $1.25 billion, driven by record volumes across several markets.
- The company achieved revenue growth across all four business segments, reflecting the benefits of its diversified model.
- Listings had its strongest year since FY22, with 100 new entities listed and $32 billion in quoted market capitalization added, representing 86% year-on-year growth.
- ASX Ltd (ASXFF) successfully delivered CHESS Release 1 on time and within guidance, enhancing operational resilience and providing a scalable foundation for cash market clearing.
- The company maintained a strong balance sheet with significant financial flexibility, including an undrawn $400 million corporate debt facility and a stable underlying ROE of 13.7%.
- Total expenses increased 21.1% year-on-year, driven by costs related to the ASIC Inquiry and elevated investment in technology modernization and the Accelerate Program.
- Statutory net profit after tax decreased 3.5% due to significant items, including the settlement of ASIC legal proceedings and the loss on sale of Sympli.
- The EBITDA margin decreased 180 basis points to 61.0%, as expense growth exceeded revenue growth.
- ASX Ltd (ASXFF) faces a $150 million capital charge agreed under its Commitments Plan with ASIC, which must be accumulated by June 30, 2027, impacting capital allocation.
- The company's credit rating was downgraded by S&P from AA- to A+ due to governance and risk management concerns highlighted in the ASIC Inquiry's final report.
Good morning, and welcome to ASXâs results briefing, for the financial year ending June 30, 2026. My name is Darren Yip, and I am the Interim CEO of ASX. I am pleased to be presenting these results today, alongside CFO, Andrew Tobin.
Firstly, I would like to acknowledge the Gadigal People of the Eora Nation, who are the traditional custodians of the country where I am speaking today. We recognize their continuing connection to the land and waters, and pay our respects to elders past and present. We extend that respect to any First Nations people joining us today.
Todayâs presentation will cover four areas, and then Andrew and I will take your questions. Iâll begin with the key highlights from our full-year performance, before Andrew provides a detailed review of the financial and operating results. Iâll then outline our FY27 priorities and conclude with our outlook and guidance.
Let's begin with highlights from FY26.
FY26 was a landmark year for ASX, with the conclusion of the ASIC Inquiry, the settlement of ASIC
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