Singapore Exchange (S68) investor relations material

Executive summary

• Achieved record full-year revenue and earnings for FY 2026, with net revenue up 13.9%–14% and adjusted earnings/NPAT up 25% year-over-year.

• Equities cash business revenue surged 28% as securities daily average value (SDAV) hit an 18-year high, up 35%.

• FX and commodities segments delivered record volumes, with SGX FX average daily volume at $190 billion and FICC revenue up 17%.

• Board proposed a one-off additional dividend of SGD 0.125 (12.5 cents) per share, bringing total FY 2026 dividend to SGD 0.57 (57.0 cents), a 52% increase from FY 2025.

• Expenses increased 5.5% year-over-year, mainly due to investments in people and technology.

Financial highlights

• Net revenue reached $1,478M, up 13.9% from FY2025.

• Adjusted NPAT was $759M, reflecting core earnings after excluding non-recurring items.

• Adjusted operating profit margin increased by 3.1 percentage points to 61.3%; adjusted NPAT margin rose by 4.4 percentage points to 51.4%.

• Record volumes in commodity derivatives (+21%), FX ADV (+33% to US$190B), and currency derivatives (+31%).

• Equities cash revenue contributed 34% of total revenue, FICC 25%, and equity derivatives 23%.

Outlook and guidance

• Expect broad-based growth across all segments in FY 2027, supported by a diversified multi-asset strategy.

• FY 2027 expenses projected to rise 6%-8%, with CapEx around SGD 100 million for technology, talent, and product innovation.

• Committed to a sustainable and growing dividend, with a guided increase of SGD 0.0025 per share each quarter to FY 2028.