TMX Group, and owner of the Toronto Stock Exchange, announced its financial results for the and full year of 2018 on Wednesday.
Following on from a , the fourth quarter reported revenue of CA$207.6 million ($156.4 million), which is up by 22 per cent or CA$36.8 million when measured against the final quarter of 2017.
However, when looking at net income for the final quarter of last year, the results don’t quite hold up. Specifically, net income for Q4 of 2018 was $69.8 million, which is a drop of 65 per cent or $132.5 million when compared to the fourth quarter of 2017.
Although, it is important to remember that net income in the final quarter of 2017 did benefit from a number of acquisitions, which boosted the results. This included a gain of $157.8 million from the sale of NGX and Shorcan Energy, in addition to a gain on FX forwards relating to the Trayport acquisition
Source: LinkedIn
“Once again, we saw the benefits of having a diversified business where the strength in our trading, clearing and subscription-based businesses more than offset a decrease in additional listing fees revenue.”
During the quarter, year-over-year organic revenue growth was 8 per cent, excluding Trayport, which had revenue growth in its core subscriber business of 12 per cent on an annual comparison.
TMX Group Achieves Solid Revenue in 2018
For the full year, revenue for 2018 was CA$817.1 million, which is up by 22 per cent when measured against 2017, which had a revenue of CA$668.9. Mimicking the results of the fourth quarter, net income for the full year was CA$286.0 million, which is a fall of 22 per cent year-on-year.
Source: TMX Group Limited
“In a year highlighted by strong financial performance, TMX continued to make significant progress in the execution of our global growth strategy, increasing our presence in key new markets around the world. Looking ahead, TMX is steadfast in our client-first commitment to serving the world’s premier capital markets, while keenly focused on generating long-term, profitable growth.”
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