Mirae Asset Securities (006800) Q1 2025 earnings summary

Executive summary

• Q1 2025 delivered consolidated pre-tax income of KRW 346.1 billion and net income of up to KRW 258.7 billion, marking a 53% year-over-year increase and a strong quarter-over-quarter performance.

• Achieved record-high quarterly revenues in overseas stock brokerage, wealth management, and overseas subsidiaries' pre-tax income.

• Key strategies include enhancing global WM and pension profit generation, increasing global business profitability, strengthening AI competitiveness, and prioritizing shareholder value.

Financial highlights

• Operating revenue for Q1 2025 was KRW 6,052.6 billion, with consolidated equity capital at KRW 12.2 trillion and consolidated ROE at 8.53%.

• Overseas brokerage revenue reached KRW 101.2 billion; total brokerage revenue was KRW 198.7 billion.

• WM revenue was KRW 78.4 billion; overseas subsidiaries posted KRW 119.6 billion pre-tax income, a record high.

• Trading income surged 81% QOQ to KRW 325.7 billion, with KRW 90 billion profit from investment asset valuation.

• Basic and diluted EPS for Q1 2025 was KRW 441, up from KRW 269 in Q1 2024.

Outlook and guidance

• Continued focus on global asset allocation, AI-driven innovation, and cautious expansion, including plans to apply for IMA approval in H2 2025.

• Ongoing shareholder return policy with annual stock cancellations, continued buybacks, and a target to reduce outstanding shares by 13.3% by 2030.

• Plans to actively manage real estate PF investments and expand in developed markets and India.