AUS
NZ
UK
CA
USA
IND
Highlights
- Aquis' FY24 financial performance is expected to be £3.7m lower due to increased credit loss provisions for two tech clients.
- The company remains optimistic about growth, with positive momentum in late-stage sales and positive FY25 prospects.
- The SIX Exchange Group AG acquisition is on track to complete in Q2 2025, following shareholder approval.
Aquis (LSE:AQX), a leader in next-generation financial markets infrastructure, has released a trading update for the year ended 31 December 2024. While the company’s core trading performance remains in line with expectations, Aquis has adjusted its financial outlook to account for heightened credit risk associated with two existing technology clients.
In line with its accounting policies, Management has increased its Expected Credit Loss provisions, resulting in an anticipated £3.7 million reduction in FY24 financial performance compared to previous projections. Despite this adjustment, the company’s underlying business remains resilient, with continued positive momentum across its operations.
Diversification and Future Growth
Aquis remains committed to diversifying its technology client base to mitigate future credit risk. Management is optimistic about the company’s trajectory, pointing to encouraging growth and significant potential within its late-stage sales pipeline. This strategic focus is expected to support sustained revenue expansion and market positioning in the coming year.
The Group’s balance sheet remains robust, with a net cash position of £13.7 million as of 31 December 2024, providing a solid financial foundation for future growth initiatives.
Acquisition by SIX Exchange Group on Track
As previously announced, the proposed cash offer by SIX Exchange Group AG received the necessary shareholder approval on 20 December 2024. The transaction will be executed through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act, with completion anticipated in Q2 2025, subject to the fulfillment (or waiver) of outstanding conditions.
The acquisition marks a pivotal step for Aquis, positioning the company to leverage SIX’s global infrastructure and accelerate its mission of transforming financial markets with innovative technology solutions.
Outlook for 2025
Despite the short-term financial impact of credit loss provisions, Aquis remains confident in its long-term growth prospects. Management expects positive performance in FY25, driven by ongoing product innovation, client diversification, and strategic alignment with SIX Exchange Group.
