HKEX posts net profit of $9.52b in Q3 2024

Net profit attributable to shareholders was at $9.42b.

Hong Kong Exchange and Clearing Limited (HKEX) recorded a net profit of $9.52b in year-to-date (YTD) Q3 2024 from $9.35b in Q3 2023, according to their quarterly results for the nine months ended 30 September.

Net profit attributable to shareholders was at $9.42b in YTD Q3 2023.

Revenue and other income increased by 2% to $15.99b in Q3 2024 from $15.66b in Q3 2023.

The company’s core business revenue was up by 1%, attributable to higher trading and clearing fees from the higher trading volumes across the cash, derivatives, and commodities markets, as well as the LME fee increment.

Operating expenses were up by 6% to $4.2b in Q3 2024, due to higher staff costs arising from increases in headcount and payroll adjustments and an increase in IT costs due to upgraded systems and inflationary adjustments on contract renewals.

The increase was partly offset by the lower professional fees incurred for and the partial recovery of legal fees from claimants of the events in the nickel market in March 2022.

Moreover, EBITDA margin was 74% in Q3 2024, one percentage point (pp) lower than YTD Q3 2023.

“By continuously expanding our product offerings, forging international partnerships, and investing in our infrastructure, we are well positioned to navigate the evolving macro-environment and propel sustained growth,” said Bonnie Y Chan, CEO of HKEX.