Gielda Papierow Wartosciowych W Warszawie S.a. · GPW:GPW

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q3 2020 Earnings Presentation

35 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Nov 6, 2020

  1. Slide 1: Financial Results of the GPW Group Q3 2020

    FINANCIAL RESULTS OF THE GPW GROUP Q3 2020 6 November 2020

  2. Slide 2: Agenda

    1. GPW Group milestones and summary of turnover on the financial market in Q3 2020 2. GPW Group financial results in Q3 2020 3. Summary of turnover on the commodity market and TGE Group financial results 4. Other financials 5. Appendices

  3. Slide 3: Financial and development milestones

    Financial and development milestones Business results in 9M 2020 Development projects in Q3’20 PLN 287.9 mn co-operation with revenue 9M’20 GPW Ventures KOWR: establishment (+12.5% YoY) of KOWR Ventures Primary market GPW Growth 2nd edition is open PLN 160.3 mn EBITDA 9M’20 (+5.4% YoY) futures on sh

  4. Slide 4: Q3'20 equity turnover on European exchanges

    Q3’20 equity turnover on European exchanges Change in equity EOB turnover value: Q3’20 vs. Q3’19 (FESE data in EUR) Bucharest 37,6% GPW 34,2% Nasdaq Nordics & Baltics 22,9% Boerse Stuttgart 18,5%  GPW: one of the highest Euronext 0,0% Deutsche Börse -3,5% increases in equity EOB Sofia -4,3% Budapes

  5. Slide 5: Continued strong investor activity on the financial market

    Continued strong investor activity on the financial market Main Market EOB turnover value  Increase of the Main Market EOB turnover value to PLN 63.0 bn in Q3’20 (+28.6% YoY, -10.5% QoQ) EOB Trading Turnover velocity  Increase of New Connect turnover value to PLN 5.3 bn 80 PLN bn 61,0% 70 ,00% (+1

  6. Slide 6: YoY increase in derivatives turnover

    YoY increase in derivatives turnover  Increase of the derivatives turnover volume in Derivatives turnover volume Q3’20 to 2.3 mn: +17.8% YoY and -15.1% QoQ  Increase of the WIG20 futures turnover volume mn +17.8% in Q3’20 to 1.16 mn: +8.6% YoY and -21.7% 3.1 QoQ 2.7  Increase of the single-stock

  7. Slide 7: Summary of activity on GPW markets in 9M 2020

    Summary of activity on GPW markets in 9M 2020 PLN 194.4 bn PLN 9.4 bn 4.5 mn +51% YoY 1.8 mn +74% YoY +33% YoY +820% YoY NewConnect Index futures Single-stock Main Market futures equity turnover equity turnover PLN 2.1 bn PLN 583 mn +390% YoY 1.6 mn +49% YoY 0.3 mn +38% YoY +133% YoY FX futures Opti

  8. Slide 8: ESG developments

    ESG developments  Continued development of the implementation and reporting of ESG factors  Publication of the GPW Group’s integrated report  Improved ESG scoring of GPW in the WIG-ESG index (low risk)  Support for issuers and investors in ESG communication and understanding its role and signifi

  9. Slide 9: GPW Group milestones and summary of turnover on the financial market in Q3 2020

    1. GPW Group milestones and summary of turnover on the financial market in Q3 2020 2. GPW Group financial results in Q3 2020 3. Summary of turnover on the commodity market and TGE Group financial results in Q3 2020 4. Other financials 5. Appendices

  10. Slide 10: GPW Group financial results in Q3'20

    GPW Group financial results in Q3’20 Sales revenue Operating expenses 52.4%  Sales revenue PLN mn C/I 52.3% +12.5% Sales revenue at PLN 88.4 mn in Q3’20 C/I 56.3% (+7.2% YoY, -13.5% QoQ). YoY increase 287.9 +12.8% 43.8% 44.1% 255.8 driven by higher revenue on the financial 150.9 market. PLN mn 133.

  11. Slide 11: EBITDA margin and net profit margin under pressure from PFSA fee

    EBITDA margin and net profit margin under pressure from PFSA fee Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 67.8% 61.8% 49.8% 51.3% 51.5% 53.2% 42.5% PLN mn 36.2% 30.1% +7.2% 14.0% 102.2 97.2 PLN mn 88.4 -15.9% PLN mn 82.5 80.3 63.2 55.9 -22.2% 50.0 47.0 41.1 43.5 41.2 2

  12. Slide 12: YoY increase in trading revenue on the financial market

    YoY increase in trading revenue on the financial market Q3’20: 45,4%  Trading revenue on the financial market at PLN 40.2 mn in Trading revenue – financial market Q3’20 (+34.3% YoY and -8.8% QoQ) PLN mn  Average EOB turnover in shares per session on the Main Market: PLN 962.9 mn in Q3’20 vs. PLN 1

  13. Slide 13: Listing revenue

    Listing revenue Q3’20: 5,6% Listing revenue PLN mn  One new listing on the Main Market (Gaming Factory) and seven new listings on NewConnect in Q3’20.  IPO value in Q3’20 PLN 56 mn (+1020% YoY, +133.3% -0.6% QoQ) 5.4  Main Market SPO value in Q3’20 was PLN 1.2 bn vs. PLN 5.0 5.0 0.6 bn in Q2’20 v

  14. Slide 14: Stable revenue from information services

    Stable revenue from information services Q3’20: 14,7%  New GPW Group data agreements were signed in Q3’20 Revenue from information services: with users in different market segments: financial market and commodity market  GPW data:  2 data vendors Revenue (commodity market)  1 non-display data us

  15. Slide 15: Agenda

    1. GPW Group milestones and summary of turnover on the financial market in Q3 2020 2. GPW Group financial results in Q3 2020 3. Summary of turnover on the commodity market and TGE Group financial results in Q3 2020 4. Other financials 5. Appendices

  16. Slide 16: Commodity market turnover in Q3'20

    Commodity market turnover in Q3’20 Electricity and gas spot and forward turnover volume Electricity (TWh) Natural gas (TWh)  Electricity market – Total electricity turnover volume in Q3’20 was 53.0 TWh (-18.5% YoY). The spot turnover 39.6 40.7 39.9 volume was 8.4 TWh (+5.1% YoY). The forward turnov

  17. Slide 17: Revenue from the electricity, gas, and property rights markets

    Revenue from the electricity, gas, and property rights markets Q3’20: 33,4%  Decrease of revenue from trade in electricity in Q3’20 to PLN 4.2 mn (-12.5% YoY) driven by a decrease in spot and forward Trading revenue – commodity market turnover. PLN mn  Decrease of revenue from trade in gas in Q3’2

  18. Slide 18: Revenue from clearing

    Revenue from clearing Q3’20: 10,9% Revenue from clearing  Decrease of revenue from clearing in Q3’20 to PLN 9.6 mn PLN mn (-11.1% YoY) -11.1%  Decrease of the revenue from the operation of the 12.4 13.1 Register of Certificates of Origin in Q3’20 to PLN 3.8 mn 10.8 11.4 9.6 (-37.8% YoY) driven by

  19. Slide 19: Agenda

    1. GPW Group milestones and summary of turnover on the financial market in Q3 2020 2. GPW Group financial results in Q3 2020 3. Summary of turnover on the commodity market and TGE Group financial results w I kw. 4. Other financials 5. Appendices

  20. Slide 20: Operating expenses and financial expenses in Q3'20

    Operating expenses and financial expenses in Q3’20  Cost/income ratio (C/I)2 in Q3’20: 56.3% vs. 43.8% in Q3’19 Operating expenses: PLN 49.8 mn (+37.9% YoY, +10.6% QoQ)  Decrease of depreciation charges to PLN 8.7 mn (-2.2% YoY, -4.1% QoQ) mainly driven by property, plant and equipment. PLN mn 56.

  21. Slide 21: Share of profit of entities measured by equity method in Q3'20

    Share of profit of entities measured by equity method in Q3’20 Share of profit of entities measured by equity method  Group’s share of profit of entities measured by equity method in Q3’20 was PLN 4.6 mn (-2.9% PLN mn PAR KDPW CG YoY, +3.5% QoQ) 4.7  KDPW: 4.4 4.6  The Group’s share of net profit

  22. Slide 22: GPW Group's consolidated statement of financial position

    GPW Group’s consolidated statement of financial position PLN mn 30.09.2019 31.12.2019 31.03.2020 30.06.2020 30.09.2020  Increase of assets as at 30 Non-current assets, including among others 585,6 590,1 587,8 577,4 579,7 September 2020 vs. 31 December Property, plant and equipment 97,3 102,0 98,2 9

  23. Slide 23: Appendix – back-up slides

    Appendix – back-up slides

  24. Slide 24: GPW Group consolidated statement of comprehensive income

    GPW Group consolidated statement of comprehensive income PLN mn Q3'19 Q2'20 Q3'20  YoY increase in sales revenue in Q3’20 driven by an Revenue 82,5 102,2 88,4 increase of trading revenue on the financial market by 34.3% YoY i.e. PLN 10.3 mn to PLN 40.2 mn. Financial market 46,4 60,7 58,0 Trading 29

  25. Slide 25: GPW Group consolidated cash flows

    GPW Group consolidated cash flows PLN mn 9 months period ended 30 September of 2020 2019 Total net cash flows from operating activities 187,5 160,2  Positive cash flows from operating activities in Net prof it of the period 104,8 108,1 9M’20 increased by PLN 27.3 mn YoY mainly Adjustments: 106,0 83

  26. Slide 26: GPW Group's revenue structure: incremental for 12 months ended 30 September 2020

    GPW Group’s revenue structure: incremental for 12 months ended 30 September 2020 GPW Group: PLN 368.1 mn including TGE Group: PLN 143.7 mn Other revenue (0,9%) 0,9% Market Data - Commodity Market 0,2% Clearing 12,6% Register of Certificates od Origin Commodity Market: 39,0% 6,5% Trading - other 39,0

  27. Slide 27: Financial market: Trade in equities

    Financial market: Trade in equities Equity turnover value and number of transactions Average number of transactions per session (thous.) 37.0%1 Value of trading in equities (PLN bn) 125,2 80,2 70,1 73,1 72,1 72,2 65,9 55,3 51,9 55,5 48,4 251 46,4 220 236 207 188 205 203 190 204 191 194 147 2010 2011

  28. Slide 28: Financial market: Trade in derivatives

    Financial market: Trade in derivatives Derivatives turnover volume Number of open interest (thous.) 3.4%2 Volume (mn) 237,8 184,8 181,8 168,1 165,0 171,2 137,2 138,1 140,1 143,6 132,8  Revenue drivers: 104,2 15,5  Derivatives turnover volume 14,7 12,6 11,3 9,5 8,2 8,0 8,2 8,2 7,6 7,0  Number of o

  29. Slide 29: Financial market: Other instruments and fees paid by participants

    Financial market: Other instruments and fees paid by participants Treasury BondSpot Poland turnover value, PLN bn Cash transactions Repo transactions 2.6%1 1.037 1.062 307 845 450 767 2.0%2 347 327 599 535 260 413 407 196 324 731 147 282 612 255 239 135  Revenue drivers: 498 439 339 338 86 75 113 2

  30. Slide 30: Financial market: Listing

    Financial market: Listing Capitalisation of domestic companies Market Cap/GDP (%) 5.6%1 Market Cap of local comapanies (PLN bn) 36,8% 36,5% 34,8% 34,8% 32,0% 27,9% 28,9% 30,0% 30,0%  Revenue drivers: 25,0% 24,2% 20,6% 671 593 591 579  Capitalisation at YE 543 446 523 517 557 550 551 468  Value of

  31. Slide 31: Financial and commodity market: Information services

    Financial and commodity market: Information services Number of data vendors Domestic 14.7%1 Foreign 87 83 83 78 37 57 58 58 58 37 38 52 54 53 52 36 37 34 31 37 30 28 27  Revenue drivers: 33 46 45 50 42  Number of data vendors 19 20 21 24 27 24 25 25  Number of subscribers 2010 2011 2012 2013 2014

  32. Slide 32: Commodity market: Trade in electricity and gas

    Commodity market: Trade in electricity and gas Electricity turnover volume (TWh)1 Spot Forward 226,1 228,9 8.0%2 176,6 186,8 186,7 27,7 33,9 182,4 23,8 25,1 162,2 25,4 22,3 139,4 24,9 gaz 130,8 126,7 87,9 21,3 111,7 21,7 27,7  Revenue drivers: 13,4 25,2 198,3 195,0 154,3 163,0 161,6 137,3 157,0 109

  33. Slide 33: Commodity market: Trade in property rights

    Commodity market: Trade in property rights Property rights spot turnover (TWh) Green certifacates (OZE) Cogeneration certificates 2 6.3%1 62,2 58,9 58,1 59,3 48,8 50,8 50,2 19,9 43,9 26,6 29,8 30,8 13,2 15,1 39,3 37,7 36,0 24,0 25,9 19,7 21,8  Revenue drivers: 20,6 42,4 32,1 35,6 35,7 32,3 26,2 28,

  34. Slide 34: Commodity market: Register of Certificates of Origin

    Commodity market: Register of Certificates of Origin Volume of issued certificates of origin (TWh) Green certificates (OZE) 50,7 4.3%1 Cogeneration certificates 47,2 48,5 47,5 41,1 42,2 36,6 37,2 23,4 18,9 24,5 19,9 35,1 15,3 29,5 31,1 10,8 10,7 21,6 11,9 21,0  Revenue drivers: 17,0 18,2 25,8 26,6

  35. Slide 35: IR events and Disclaimer

    IR events Disclaimer  5 November 2020 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its Publication of the consolidated interim report of GPW shareholders, analysts, and other contractors. This presentation ha

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