Singapore Exchange (S68) H1 2026 earnings summary

Executive summary

• Achieved record half-year revenue and net profit for 1H FY2026, with strong multi-asset business growth and continued momentum from the prior year.

• Net revenue (including/excluding treasury income) rose up to 10.1% year-over-year to S$695.4 million, with adjusted NPAT up 11.6% to S$357.1 million.

• Interim dividend per share increased to 11.0 cents, bringing total 1H FY2026 dividends to 21.75 cents, up 20.8% year-over-year.

• Multi-asset strategy and disciplined execution drove strong results, with significant contributions from FX, derivatives, and equities.

• IPO pipeline remains robust, with up to 18 listings completed and nearly S$3 billion raised in 1H FY2026.

Financial highlights

• Group net revenue rose 7.6% to S$695.4 million year-over-year; adjusted NPAT increased 11.6% to S$357.1 million.

• Adjusted EBITDA reached S$466.2 million, up 9.2% year-over-year; adjusted EPS was 33.4 cents, up from 29.9 cents.

• Total expenses increased by up to 3.8%, mainly due to higher staff costs and headcount.

• Net asset value per share increased to S$2.13 from S$2.06 at June 2025.

• Cash and cash equivalents at period end were S$1.67 billion, up from S$1.13 billion at June 2025.

Outlook and guidance

• Confident in achieving medium-term 6%-8% CAGR in top-line organic growth, excluding Treasury income.

• Expense and capex guidance for FY2026 unchanged at 4-6% increase and S$90–S$95 million, respectively.

• Committed to sustainable and growing dividends, with a 0.25 cent quarterly increase expected through FY2028.