Marex Posted Strong Results in 2021, +31% Increase in Revenue

Marex posted strong gains in 2021. Volatility in metals and agriculture franchises contributed to a +31% increase in 2021 revenue. The net revenue in 2021 reached $543 million.

Market making and execution clearing posted strong performance. Market making revenue increased by +29% ($131.1 million) compared to 2020 ($101.2 million).

The balance sheet jumped by +74% to $5.41 billion in 2021. The execution and clearing revenue posted moderate growth of +33% ($180.0 million) compared to 2020 ($138.1 million). In addition, adjusted operating PBT has increased by +18% ($38 million).

Discovery data and research services generated $5.9 million compared to $3.6 million in 2020. This is a +64% increase in revenue, which includes the disposal of intellectual property.

Price discovery posted the weakest growth of +5% ($134.7 million) compared to $127.9 million in 2020.

Earlier in April, Marex opened an office in Minneapolis for commodity risk management. Dan Hofstad and Charlie Fee are heading the new office and monitor the progress of OTC agriculture products in the United States.

Officials Remarks

Ian Lowitt, the CEO of Marex, said: “We are proud of these results, which reflect a strong organic performance as we continue to drive forward our growth initiatives, diversifying our business by adding products to our service segments and expanding geographically. These more than offset a headwind from very low-interest rates.

“Although the current macroeconomic environment is volatile, we have successfully navigated the recent geopolitical disruption in the commodities markets, carefully managing risk and maintaining a strong capital and liquidity position throughout.

"We continue to steer our clients through a very challenging period, whilst complying fully with government sanctions.

“We have seen a very strong start to 2022. Looking ahead, I am confident that we will continue to deliver strong growth, both organically and through strategic bolt-on acquisitions, as we continue to build on our strategic growth plans.

"Furthermore, inflation in the real economy will likely translate into rising short-term interest rates, which is also positive for our business.”