Marex Group announced its financial results for the fourth quarter (‘Q4 2024’) and the year ending 31 December 2024, showcasing significant growth across key business segments.

Revenue for the final quarter of 2024 surged by 28%, reaching $415.6 million, up from $325.6 million in Q4 2023. The growth was fueled by strong organic expansion across all areas, driven by robust client activity, market share gains, and favorable market conditions.

Marex Group Reports 28% Revenue Growth in Q4 2024

Net commission income saw a 25% increase, totaling $226.0 million in Q4 2024 compared to $181.4 million in the previous year. This growth was largely due to a 22% rise in Agency and Execution revenues, which reached $160.7 million, primarily due to higher client activity in Energy markets. Additionally, Marex’s acquisition of TD Cowen’s prime services business in December 2023 contributed to a strong performance in Securities.

Net trading income also grew by 15% to $128.1 million, up from $111.5 million in Q4 2023, with a notable 24% increase in Hedging and Investment Solutions revenues, driven by heightened client demand for financial products.

Furthermore, net interest income more than doubled, increasing by 107% to $62.6 million from $30.2 million in Q4 2023, benefiting from higher average balances.

Despite a 23% rise in front office costs, mainly due to a 14% increase in average headcount and higher compensation linked to revenue growth, the company reported a significant boost in profitability. Profit Before Tax soared 97% to $77.8 million, up from $39.4 million in Q4 2023.

Adjusted Profit Before Tax also rose by 55% to $81.4 million, improving the margin to 20% from 16% in the same period last year. Profit After Tax Margin increased to 14%, compared to 9% in Q4 2023.

The Board of Directors declared an interim dividend of $0.14 per share, scheduled for payment on 31 March 2025.

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