Marex Group PLC (NASDAQ: MRX) a differentiated global financial service platform, providing basic liquidity, market access and infrastructure services to customers in actions, goods and financial markets, today reported financial results for the first quarter of 2025 (‘Q1 2025’).
Revenue increased by $ 28% to $ 467.3 million (Q1 2024: $ 365.8 million) with strong growth in all business departments, as Marex continues to differentiate its platform and lead to greater profit resistance. This growth is due to the strong activity of customers and the positive market conditions.
Revenue from a net committee increased by 15% to $ 250.7 million (Q1 2024: $ 218.9 million). The growth is due to the service and execution, which increased by 22% to $ 182.9 million (Q1 2024: $ 150.5 million) reflecting a strong performance in mobile values and energy, backed by record volumes.
Net trading income increased by 50% to $ 159.1 million (Q1 2024: $ 106.2 million). The growth is due to an increase of $ 40.8 million in the Organization and the execution of $ 49.9 million (Q1 2024: $ 9.1 million), mainly due to rates, FX and shares. The most significant contribution came from the continued construction of the capabilities of Marex’s primary services, which increased by $ 33.4 million, including increasing the supply of securities -based exchanges.
In addition, net trading income on the Marex market increased by $ 10.7 million to $ 54.9 million (Q1 2024: $ 44.2 million) driven by growth in all categories of assets.
Net interest revenue increased by 50% to $ 53.4 million (Q1 2024: $ 35.6 million) reflecting $ 5.8 billion in average balances to $ 17.1 billion, which more than the lowest Fed capital rates compared to Q1.
The cost of the front offices increased by 23% to $ 258.4 million (Q1 2024: $ 210.1 million), reflecting mainly the highest cost of compensation for strong revenue revenue across the group. The development of Front Office staff reflects the restructuring activity in the service and the execution and redistribution of FTE by the Front Office for the control and support of the Q2 2024, with the exception of them, the average Front Office FTE increased by 11% per year.
Control and support costs increased by 33% to $ 106.8 million (Q1 2024: $ 80.6 million). This is mainly due to investment in technology to support automation and business development, as well as investments in the functioning of Marex’s financial, risk and compliance to support controlled growth and development as a public company. This also included specific investments on acquisitions and compliance with Sarbanes-Oxley.
The reported earnings before tax increased by 66% to $ 98.0 million (Q1 2024: $ 58.9 million) is driven by a strong increase in revenue and improved operating margins.
Adaptation of data is reduced by $ 10.5 million to $ (1.7) M (Q1 2024: $ 8.8 million). These expenses are mainly related to corporate activities and are recognized in the corporate department of Marex. The regulation of data was reduced mainly due to IPO costs and the fees of owners in the first quarter of 2024, as well as a acquisition profit of a acquisition of Q1 2025.
As a result of revenue and cost trends above, customized prior to tax profit1 increased by $ 42% to $ 96.3 million (Q1 2024: $ 67.7 million) and customized earnings before tax margin was improved to 21% (Q1 20%), 12%).
The Board of Directors approved a temporary dividend of $ 0.15 per share, which is expected to be paid on June 10, 2025, to shareholders recorded at the end of the work on May 27, 2025.