Marex Spectron Reports ResultsApril 12, 2018
Marex Spectron (the ‘Group’), the global commodities broker, has today reported a strong set of full year results, despite challenging markets, with net revenues of $245.6 million through to 31 December 2017, up $2.5 million from $243.1 million in 2016.
Adjusted EBITDA for the year, which excludes one-time items and cost of investments, was a record $39.6 million, up from $37.1 million in 2016. Profit before tax was $25.4 million, slightly down on 2016’s $27.0 million (2015: $17.6 million) reflecting the increased level of investment expenditure in the business. This was on gross revenue for 2017 of $322.2 million versus $330.4 million in 2016.
Marex Spectron is today deeply embedded in the global commodity market infrastructure, with 35 exchanges in its connectivity networks, clearing over 145 million contracts a year on exchange and executing over 20 million trades a year for clients.
Highlights and investments during the year included:
Ian Lowitt, CEO Marex Spectron, commented: “Given how the markets played out, 2017 was a very good year for our firm. It was also a year that saw significant investment across the business, with many of the initiatives put in place set to add further revenue growth in 2018. Looking at the year ahead, our intention is to further develop our own technologies, add new services, and continue to win ever greater global market share.”
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