Singapore Exchange - DBS Research 2022-08-19: FY22 Revenue & Net Profit Largely In Line; Awaiting Catalysts

Singapore Exchange - FY22 Revenue & Net Profit Largely In Line; Awaiting Catalysts

Published:
SINGAPORE EXCHANGE LIMITED (SGX:S68) | SGinvestors.ioSINGAPORE EXCHANGE LIMITED (SGX:S68)
  • Singapore Exchange (SGX) reported its highest revenue since listing, of S$1,099m (+4% growth y-o-y), driven by higher volumes and fees. Excluding treasury income, total revenue came in at S$1,050m (+7% growth y-o-y).
  • - Read this at SGinvestors.io -
  • Net profit rose 1% y-o-y to S$451m, largely in line with both the consensus and our estimate.
  • A final quarterly dividend of S$0.08 per share was declared, bringing SGX's total dividend for FY22 to S$0.32.

Mixed performance across asset classes.

  • Cash equities trading and clearing revenue fell 9% y-o-y to S$209.7m, as the Securities Daily Average Value (SDAV) declined 6% y-o-y, to S$1.27bn, on the back of lower average clearing fees of 2.62bps (FY21: 2.73bps) due to higher participation from market makers.
  • - Read this at SGinvestors.io -
  • FICC revenue increased 19% y-o-y to S$252.7m on firm growth from currencies and commodities that offset the decline in fixed income revenue. Trading and clearing revenue from currencies and commodities grew mainly due to increased volumes in derivatives and higher contribution from OTC FX.
  • Average fees per contract for equity, currency, and commodity derivatives increased to S$1.51 (FY21: S$1.34).
  • Data, Connectivity, and Indices (DCI) revenue grew 3% y-o-y to S$147.4m on higher data subscriptions and an increase in subscription to co-location services. This segment makes up 13% of total revenue.

SGX Management’s Outlook.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.



Rui Wen LIM DBS Group Research | Tabitha FOO DBS Research | https://www.dbs.com/insightsdirect/ 2022-08-19



Read also DBS's most recent report:
2025-02-07 Singapore Exchange - Riding On Volatility Wave; Broad-based Growth Across All Revenue Segments.

Previous report by DBS:
2024-10-10 Singapore Exchange - Firing On Multiple Fronts; Volatility Is SGX's Friend.

Price targets by 4 other brokers at SGX Target Prices.

Listing of research reports at SGX Analyst Reports.

Relevant links:
SGX Share Price History,
SGX Announcements,
SGX Dividend Payout Dates & Corporate Actions,
SGX News






Advertisement

You May Also Like



SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank Referral Code

Advertisement