Full Year 2024 NZX Ltd Earnings Call Transcript

Feb 20, 2025 / 09:00 PM GMT

Release Date Price: $0.91

Transcript

Key Points

Positve

NZX Ltd (NZSTF) reported a strong financial result for 2024, with earnings excluding integration and restructuring costs reaching $48.5 million, up 21% from the previous year.
Capital markets activity levels increased, contributing to a 3.3% rise in capital markets revenues.
Smart revenues grew by 19.1%, reflecting the growth in funds under management.
Wealth Technologies achieved cash flow positivity from external client activity, with revenues up 42.7%.
The company declared a fully imputed final dividend of $0.03 per share, indicating strong shareholder returns.

Negative

Operating expenses increased by $4 million to $72.2 million, driven by costs associated with the Smart business.
Dairy derivatives revenue was negatively impacted by reduced interest margin fees, which were not fully offset by increased trading volumes.
The integration and restructuring costs affected the overall earnings, with reported earnings including these costs at $47.2 million.
The company faces external dependencies in Wealth Technologies, such as client capacity for testing and data provision from current suppliers, which could impact migration timelines.
There are headwinds in the markets business, including lower levels of audit revenue and the impact of Fonterra's change to the main board.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NZX.NZ - NZX Ltd
Full Year 2024 NZX Ltd Earnings Call
Feb 20, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Oh, good morning everybody. Welcome to the 2024 full year results call for the NZX. As most of you will know, my name is Mark Peterson, NZX chief executive, and I'm here with Graham Law, NZX's, Chief Financial Officer. Sorry about the slight hiccup there. We had an issue with the way the presentation was being displayed on the call.

But we should be back on track now. Graham and I will take you through the result.

I'll lead off with the key elements of this result and some broader comments. I think Graham will step us through the financials after which we'll be obviously happy to take questions.

And as per normal with these, calls to ask a question, please raise your hand.

There's a button there on the panel on the

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