The Philippine Stock Exchange (PSE) Q4 2024 earnings summary

Executive summary

• FY2024 net income rose 57.54% to P1,207.22 million, while operating revenue edged down 0.26% to P1,398.09 million; higher non-operating income, including an acquisition-related remeasurement gain, drove earnings growth.

• The December 2024 acquisition of control of PDSHC added depository and fixed-income operations and expanded the reporting structure to two business segments.

• The audited consolidated financial statements received an unmodified opinion under PFRS Accounting Standards.

Financial highlights

• Operating revenue was P1,398.09 million, down 0.26% YoY; listing-related fees fell P29.48 million, while trading-related fees rose P28.44 million.

• Operating income declined to P536.42 million from P651.04 million as total expenses increased 14.85% to P861.67 million.

• Other income rose 166.03% to P836.32 million, including a P462.86 million gain on remeasurement of the previously held PDSHC stake at acquisition-date fair value.

• Net income increased 57.54% to P1,207.22 million; income before tax was P1,372.74 million and income tax expense was P165.53 million.

• Basic and diluted EPS were both P14.75, versus P9.47 and P9.47 in 2023, respectively.

Outlook and guidance

• 2025 priorities include completing the PDSHC acquisition, integrating operations and identifying shared-service synergies; the stated target was to close the transaction by Q2 2025.

• GPDR launch was targeted for Q2 2025; index futures are planned for 2026, alongside ETF and market-making rule updates and a review of the board-lot system.

• Plans include bond ETFs, FX and bond derivatives, further digital infrastructure and data-governance improvements, and the premium PSE EQUIP service launched in January 2025.