B3 Sa - Brasil, Bolsa, Balcao · BMFBOVESPA:B3SA3
B3 Sa - Brasil, Bolsa, Balcao — B3 Sa - Brasil, Bolsa, Balcao — Q1 2025 Earnings Presentation
23 slides from B3 Sa - Brasil, Bolsa, Balcao's earnings presentation, May 9, 2025
Slide 1: 1Q25 Earnings Presentation
1Q25 Earnings Presentation Investor Relations
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain certain statements that express the management’s expectations, beliefs and assumptions about future events or results. Such statements are not historical fact, being based on currently available competitive, financial and economic data, and on
Slide 3: Highlights - Operational Performance
Highlights Operational Performance 1Q25 1Q25/1Q24 1Q25/4Q24 Market - Derivatives ADV (thousands of contracts) 8,945 -9.4% -4.3% General Average RPC (R$) 1.517 29.3% -0.9% New issues (R$ bn) 3,982 18.9% -10.3% OTC Derivatives Outstanding volume (R$ bn) 7,893 29.0% -1.1% Market – Equities ADTV (R$ mil
Slide 4: Highlights - Financial Performance
Highlights Financial Performance (R$ million) 1Q25 1Q25/1Q24 1Q25/4Q24 Total Revenues 2,657.2 7.7% -0.4% Markets 1,782.3 7.5% -0.6% Capital Markets Solutions 156.9 5.9% 2.5% Data Analytics Solutions 258.4 2.4% -2.0% Technology and Plataforms 459.5 16.6% 5.8% Net Revenues 2,388.0 7.5% -0.5% Expenses
Slide 5: Diversified Business Model
Diversified Business Model Despite the still challenging environment for the cash equities market, the Company’s total revenue has shown resilient behavior, supported by multiple growth drivers Company’s Quarterly Revenue (in R$ million) 2,800 16.00 CAGR¹ 4% 2,400 14.00 12.00 2,000 79% 79% 80% 81% 7
Slide 6: Derivatives
Derivatives 33% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 881 +10% -4% Increase of 10% in revenues, primarily reflecting the growth in revenues from FX derivatives, which had an increase in volume and RPC during the period, and Bitcoin Futures, launched in
Slide 7: Equities
Equities 19% of the total revenue Revenues (R$ millions) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 511 -7% -3% Decrease in trading and post-trading revenue explained by a lower margin on cash equities, primarily (i) due to higher volumes traded 576 through market makers programs and (ii) due to inc
Slide 8: Fixed Income and Credit
Fixed Income and Credit 12% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 315 +22% +11% Growth in revenues from banking funding instruments, with a 15% increase in Issuances and a 25% increase in the Outstanding Balance In other instruments, highlight the incr
Slide 9: Securities Lending
Securities Lending 3% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 75 +57% +23% The average open position grew by 13%, and the average lender rate increased by 75 bps, influenced by greater volatility in the period 75 61 66 61 48 1Q24 2Q24 3Q24 4Q24 1Q25 Secu
Slide 10: Capital Markets Solutions
Capital Markets Solutions 6% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 157 +6% +2% An 18% increase in revenue from Data for Capital Markets, primarily driven by the appreciation of the USD against the BRL, considering that part of this revenue is dollar-in
Slide 11: Data Analytics Solutions
Data Analytics Solutions 10% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 258 +2% -2% Increase of 2% explained by the comparison with 1Q24, when there was an impact from non-recurring revenues from the Desenrola program (excluding this effect, revenues would
Slide 12: Technology and Plataforms
Technology and Plataforms 17% of the total revenue Revenues (R$ million) 1Q25 Δ 1Q24 Δ 4Q24 HIGHLIGHTS 1Q25 / 1Q24: 460 +17% +6% In Technology, a 9% increase, reflecting the increase in the number of clients in the OTC segment, annual inflation adjustments in the Monthly Utilization line and technol
Slide 13: Adjusted Expenses (R$ million)
Adjusted Expenses1 (R$ million) Adjusted personnel2 Data processing Third-party services Others3 (+7%): annual adjustment of (+9%): intensification of cloud (+217%): non-recurring (-22%) salaries and medical assistance technology usage; acceleration in consultancy expenses project delivery; and adju
Slide 14: Total Expenses (R$ million)
Total Expenses (R$ million) Personnel and charges Data processing Depreciation and Revenue-linked Others1 (+6%): annual (+9%): intensification of amortization expenses (-19%) adjustment of salaries and cloud technology usage; (-65%): End of amortization (+48%): higher amount medical assistance accel
Slide 15: Financial Highlights
Debt Amortization Schedule (R$ billion) Financial Highlights 14.9 Cash and Financial Investments (R$ million) 13.3 4,373 701 3,671 16,607 12,234 1Q25 1.7 5,076 862 4,214 15,257 10,181 4Q24 Short-term Long-term Total Debt 5,410 893 4,516 18,683 11,159 1Q24 Cetip Lux Loan Bond Debentures Debt | Amount
Slide 16: Financial Highlights Cash Destination
Financial Highlights Cash Destination – 1Q25 (R$ million) Cash Generation R$ million 1Q25 1Q24 Adj. net cash from operating activities¹ 1,535 1,721 3,046 3,014 (32) (328) 2,228 (459) Net cash from investment activities² (81) 7 Net cash from financing activities before 1,592 (377) distributions³ Cash
Slide 17: Appendix
[By Appendix
Slide 18: Financial Statements - Adjusted Expenses
Financial Statements Adjusted Expenses (In R$ millions) 1Q25 1Q24 1Q25/1Q24 4Q24 1Q25/4Q24 Expenses (828.5) (927.1) -10.6% (908.2) -8.8% (+) Depreciation and amortization 97.5 279.9 -65.2% 103.3 -5.6% (+) Long-term stock-based incentive program 51.5 51.8 -0.6% 54.5 -5.6% (+) Extraordinary expenses w
Slide 19: Financial Statements - EBITDA and Net Income Reconciliation
Financial Statements Recurring EBITDA (In R$ millions) 1Q25 1Q24 1Q25/1Q24 4Q24 1Q25/4Q24 EBITDA 1,657.0 1,574.2 5.3% 1,594.3 3.9% (+) Extraordinary expenses related to contract terminations - - 25.6 - - (+) Other non-recurring revenues 3.2 13.2 1.2 -76.1% 166.7% (+) Reversal of provisions - (13.9)
Slide 20: Return to Shareholders
Return to Shareholders Strategy to return most of the Company’s cash generation Return to Shareholders (R$ million) +49% 787 529 459 +94% 236 293 328 +12% 1Q24 1Q25 IoC Buybacks
Slide 21: Active Share Buyback Program
Active Share Buyback Program Since 2019, the Company has repurchased around 13% of its capital and canceled 911 million shares Shares issued, held in treasury, and canceled (in millions of shares, except the EPS) R$0.84 R$0.77 R$0.73 R$0.67 R$0.69 R$0.44 Cancellation Cancellation Cancellation Cancel
Slide 22: Capital structure
Capital structure Gross Debt Exposure Avg. Spread DI Rate - Debentures 1.86% 1.77% 1.24% 0.93% 0.82% 6% 23% 2021 2022 2023 2024 1Q25 71% Gross Debt & Financial Leverage 2.2x 2.2x 2.0x 2.0x 14.0 1.8x 2.0x 12.0 10.0 1.5x 14.3 14.0 14.9 8.0 6.0 12.1 13.4 1.0x 4.0 0.5x 2.0 - 0.0x CDI Bond 2031 - 4.125%
Slide 23: TKS!
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