NZX Limited Achieves Strong Financial Performance in FY2024, Signals Strategic Growth

New Zealand's stock exchange operator NZX Limited demonstrated substantial financial performance in fiscal year 2024, with notable achievements across multiple business segments and promising strategic developments.

The company reported impressive market performance, with capital raised and listed totaling $15.8 billion, representing an 11.6% year-over-year increase. Total value traded reached $41.5 billion, marking a 22.9% rise compared to the previous fiscal year and representing the company's third-highest annual result ever.

In its Smart ETF segment, formerly known as Smartshares, NZX achieved significant growth with funds under management (FUM) expanding to $13.5 billion, a 22.6% increase from the previous half-year. The segment strategically rebranded and formed a strategic alliance with BlackRock's iShares, signaling a commitment to innovation and market expansion.

The Wealth Technologies platform experienced substantial growth, closing the fiscal year with $16.2 billion in funds under administration, a remarkable 40.4% increase from fiscal year 2023. The platform onboarded 12 new clients, bringing its total active client count to 32, and achieved cash flow positivity for external client activities in December 2024.

Financially, NZX maintained a robust balance sheet, concluding 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 2024 dividend to $0.061.

Looking forward, NZX has provided fiscal year 2025 EBITDA guidance ranging from $49.0 million to $54.0 million, reflecting continued strong performance across core business segments. This guidance is supported by the consistent growth in Smart's funds under management and the recurring revenue nature of the Wealth Technologies platform.

The company's strategic focus on technology, diversification, and market expansion appears to be yielding positive results, positioning NZX for continued growth and potential value creation in the evolving financial services landscape.