Marex Group Predicts an Increase of 29% in Net Revenue for the Year 2022

Marex Group ("Marex" or "the Group"), the diversified global financial services platform, provided a trading update for the year ended 31 December 2022, based on unaudited results for the period, ahead of announcing its final results, anticipated at the end of March 2023.

It is anticipated that Group net revenue for the year ended 31 December 2022 will be up c.29% to approximately $698 million and Operating Profit Before Tax up c.50% to approximately $120 million.

The acquisition and consolidation of ED&F Man Capital Markets also contributed to performance in the final quarter of the year. Client monies increased significantly and are anticipated to be approximately $13 billion as at the end of 2022 (2021: $5.4 billion).

Robust revenue generation and the increasing scale of the business resulted in Operating PBT margins increasing to c.17% (2021; 15%), delivering an improved return on equity1 of c.17% (2021; 14%).

This record performance increases Marex's growth trajectory and represents the ninth year of consecutive growth for the Group, with an average annual Operating PBT growth of c.29% since 2014.

Marex maintains a robust capital position, with regulatory capital increasing significantly to approximately $500m as at 31 December 2022 as a result of the strong profitability of the Group during the year and the successful issuance of $100m AT1 capital in June 2022.