Mirae Asset Securities (006800) Q1 2025 earnings summary

Executive summary

• Q1 2025 consolidated pre-tax income reached KRW 346.1 billion and net income was up 53% year-over-year to KRW 258.2 billion, with record-high quarterly revenues in overseas stock brokerage, wealth management, and overseas subsidiaries' pre-tax income.

• Key strategies include enhancing global WM and pension profitability, increasing global business profits, strengthening AI competitiveness, and boosting shareholder value.

Financial highlights

• Operating revenue for Q1 2025 was KRW 6,052.6 billion; operating income was KRW 346.2 billion, up from KRW 270.5 billion in Q1 2024.

• Net income attributable to owners of parent for Q1 2025 was KRW 258.7 billion, up from KRW 162.9 billion in Q1 2024.

• Consolidated equity capital at Q1 end was KRW 12.2 trillion; consolidated ROE stood at 8.5%.

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

• WM revenue posted KRW 78.4 billion, and overseas subsidiaries' pre-tax income was KRW 119.6 billion.

Outlook and guidance

• Continued focus on global asset allocation, AI-driven innovation, and global expansion, especially in developed markets and India.

• Expectation of ongoing global uncertainties, with strategies to protect client returns and rebalance portfolios toward high-quality global stocks and bonds.

• Plans to apply for IMA approval in H2 2025, with a cautious approach to expansion.

• Ongoing commitment to shareholder returns, targeting a 35% shareholder return ratio.

• Plans to actively manage real estate PF investments and secure new opportunities.