New Zealand Exchange (NZX) reported impressive financial results for fiscal year 2024, highlighting strong performance across its key business segments and setting optimistic expectations for 2025. The company's Markets division raised capital totaling $15.8 billion, an 11.6% year-over-year increase, with total value traded reaching $41.5 billion – the third-highest annual result in its history.
The Smart ETFs segment showed substantial growth, with funds under management (FUM) increasing 22.6% to $13.5 billion. This growth was driven by positive net cash flows and market returns, complemented by a strategic rebranding initiative and an alliance with BlackRock's iShares.
Wealth Technologies experienced even more significant expansion, with funds under administration (FUA) growing 40.4% to $16.2 billion. The division onboarded 12 new clients, bringing its total active client count to 32, and achieved cash flow positivity for external client activities in December 2024.
NZX maintained a solid financial position, ending the year with $28.8 million in cash and $127.0 million in net assets. The company declared a fully imputed final dividend of $0.031, bringing the total fiscal year dividend to $0.061.
Looking forward, NZX has provided 2025 EBITDA guidance ranging from $49.0 million to $54.0 million, reflecting continued confidence in its core business segments. Analysts using multiple valuation methods estimate the company's share value between $1.52 and $1.88, with a midpoint of $1.70.
The results underscore NZX's strategic growth in wealth management technologies and market services, positioning the company for continued expansion in the coming year.
