Intercontinental Exchange Inc. · NYSE:ICE
Intercontinental Exchange — Raymond James Institutional Investors Conference 2019
18 slides from Intercontinental Exchange's conference presentation, Mar 4, 2019
Slide 1: Raymond James Institutional Investors Conference
Raymond James Institutional Investors Conference March 4, 2019
Slide 2: A Global Market Infrastructure Provider
A Global Market Infrastructure Provider World’s deepest and broadest source of mission-critical derived Data data & analytics critical to A Global Marketplace pre-trade workflows Energy, Ags & Metals Rates & FX Trading Equities Fixed Income & Credit 6 clearing houses across the globe; comprehensive
Slide 3: A Balanced Revenue Mix
A Balanced Revenue Mix 2018 Record Net Revenue(1) $5.0B, +7% y/y Data & Listings (51% of Revenues) 51% Subscription-based recurring revenue Recurring Comprehensive mission critical data & listing services with high retention rates Compounding organic data growth of Listings 5% in 2017 & 2018 9% Othe
Slide 4: Trading & Clearing Built on Global Benchmarks
Trading & Clearing Built on Global Benchmarks Exchanges in U.S., Canada, U.K. Europe and Singapore across major asset classes Flagship Brent, Gasoil, global natural gas, leading European interest rates complex, MSCI and FX Scaled business with above-peer operating margins Commercial client base & un
Slide 5: Unique Mission-Critical Data & Listings Services
Unique Mission-Critical Data & Listings Services Pricing & Exchange Data Desktops & Listing Analytics & Feeds Connectivity Services Leading provider of Real-time & historical end-of-day & real- pricing data Leading U.S. listings time prices on 3M Global oil, natural venue with over $30B fixed income
Slide 6: Compounding Growth in Data Services
Compounding Growth in Data Services High Margin Mission Critical Data & Analytics Across Asset Classes Annual Subscription Value (1) (ASV in $M) ASV ICE Data Services Revenue $1,922 +6% 19% $1,812 $2.1B 49% 2018 32% 4Q17 4Q18 Pricing & Analytics Exchange Data & Feeds Desktops & Connectivity (1) ASV
Slide 7: Distributed Across A Global Network
Distributed Across A Global Network Flexible, Efficient & Secure Delivery ICE GLOBAL NETWORK Depth and Breadth of Ultra-High Security Content & Community ▪ Direct market access to 150+ ▪ Private network that avoids global markets operational and security ▪ Access to 600+ proprietary and vulnerabilit
Slide 8: Applying Expertise to New & Evolving Markets
Applying Expertise to New & Evolving Markets Leveraging Core Infrastructure & Expertise to Drive Long-term Growth Fixed Income Digital Assets ICE Mortgage Services ▪ Bringing efficiencies to fixed ▪ Working with Starbucks & ▪ In October 2018, ICE acquired income markets, one of the Microsoft among o
Slide 9: A Proven Model for Long-Term Growth
A Proven Model for Long-Term Growth ▪ New product development ▪ 51% of total revenue is ▪ Expand range of content and Balanced Recurring recurring distribution solutions & Transaction-based ▪ Transaction business ▪ Strategic M&A and alliances to Revenue Growth supported by leading global leverage ou
Slide 10: Above-Peer Operating Margins
Above-Peer Operating Margins Scalable infrastructure drives high operating margins Trading & Clearing Adj Op Margin Adj. Op Margin 66% 58% 64% 46% (1) (2) ICE Peer Group Data & Listings Adj Op Margin 51% 39% (1) (2)(3) ICE Peer Group (3) ICE(1) Peer Group (1) Adjusted figures represent non-GAAP meas
Slide 11: Rising Capital Return
Rising Capital Return $1,753 Capital Return Philosophy $1,425 Dividend Growth Grow the dividend as the company grows $1,198 Double-digit increase on avg. since $944 $991 2013; +15% in 2019 $949 Share Repurchases $693 $660 100% of excess FCF, net of strategic $645 M&A, allocated to share repurchases
Slide 12: Consistent Track Record of Growth
Consistent Track Record of Growth 13 Consecutive Years of Adj. EPS Growth (1) 3.59 (1) (1) $2.97 $2.79 (1) $2.43 (1) $1.92 (1) $1.68 $1.50 $1.38 $1.07 $0.83 $0.85 $0.68 $0.48 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (1) Adjusted figures represent non-GAAP measures. Please ref
Slide 13: Appendix
Appendix
Slide 14: For Additional Information
For Additional Information Investor Relations website: www.ir.theice.com Investor Relations contacts: Warren Gardiner, CFA Vice President, Investor Relations warren.gardiner@theice.com Mary Caroline O'Neal, CPA Manager, Investor Relations marycaroline.oneal@theice.com investors@theice.com INTERCONTI
Slide 15: Adjusted Net Income and EPS from Continuing Ops
ADJUSTED NET INCOME FROM CONTINUING OPS AND EPS FROM CONTINUING OPS 12 Months Ended 12 Months Ended in millions except per share amounts 12/31/2018 12/31/2017 Net income attributable to ICE $ 1,988 $ 2,526 Add: Interactive Data transaction and integration costs and acquisition-related success fees 3
Slide 16: Adjusted Net Income and EPS from Continuing Ops
ADJUSTED NET INCOME FROM CONTINUING OPS AND EPS FROM CONTINUING OPS 12 Months 12 Months 12 Months 12 Months Ended Ended Ended Ended in millions except per share amounts 12/31/16 12/31/15 12/31/14 12/31/13 Net income attributable to ICE $1,429 $1,274 $981 $254 Add: Interactive Data and NYSE transacti
Slide 17: Adjusted Operating Income, Operating Margin & Operating Expense Reconciliation
ADJUSTED OPERATING INCOME, OPERATING MARGIN & OPERATING EXPENSE RECONCILIATION Trading and Clearing Segment Data and Listings Segment Consolidated 12 Months Ended 12 Months Ended 12 Months Ended December 31, December 31, December 31, 2018 2017 2018 2017 2018 2017 Total revenues, less transaction-bas
Slide 18: About Intercontinental Exchange
About Intercontinental Exchange Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financi
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