NZX Limited has today updated its full-year operating earnings1 guidance following strong performance across all business lines.
NZX has raised the FY2024 guidance range from $40.0-$44.5 million to $45.0-$49.0 million (normalised to exclude integration and restructuring costs). This represents a move of approximately 10% between the midpoint of the ranges.
The revision is primarily due to stronger-than-expected levels of large capital raisings in September 2024, which have fed into increased trading and clearing activity. In addition, both Smart – formally known as Smartshares – and NZX Wealth Technologies, are benefitting from ongoing growth in funds under management and funds under administration respectively.
The guidance is subject to market outcomes, particularly with respect to market capitalisation, total capital listed and raised, secondary market value and derivatives volumes traded, funds under management and administration growth and technology costs.
Additionally, this guidance assumes there is no material decline in the macro-economic environment and/or market conditions, and there are no significant one-off expenses, major accounting adjustments, other unforeseeable circumstances, or future acquisitions or divestments.
