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

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie — Q3 2023 Earnings Presentation

31 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Nov 10, 2023

  1. Slide 1: Financial Results of the GPW Group Q3 2023

    FINANCIAL RESULTS OF THE GPW GROUP Q3 2023 10 November 2023

  2. Slide 2: Agenda

    Agenda I. Milestones and summary of trading on the financial market in Q3 2023 II. GPW Group financial results in Q3 2023 III. Summary of trading on the commodity market and TGE Group financial results in Q3 2023 IV. Other financials V. Appendices

  3. Slide 3: Q3 2023: Milestones

    Summary Financial results TGE Other financials Appendices Q3 2023: Milestones GPW Group revenue EBITDA Net profit1 Dividend PLN 106.1 mn PLN 39.7 mn PLN 39.7 mn PLN 113.3 mn +19.9% yoy +36.1% yoy +27.5% yoy PLN 2.7 per share Nowe New linie biznesowe business lines and Projekty międzynarodowe: Intern

  4. Slide 4: GPW performance vs. other European exchanges in Q3 2023

    Summary Financial results TGE Other financials Appendices GPW performance vs. other European exchanges in Q3 2023 YoY change in EOB shares turnover (EUR)1 Velocity2 Bucharest Stock Exchange 193% Deutsche Börse 43.3% Cyprus Stock Exchange 120% BME 34.8% Zagreb Stock Exchange 97% Euronext 34.6% Athens

  5. Slide 5: Investor activity

    Summary Financial results TGE Other financials Appendices Investor activity Main Market EOB equity turnover value ETF turnover value PLN bn turnover velocity2 PLN mn 59.8 43.1 43.6 32.9 34.8 35.2 35.3 32.3 31.8 1,028.0 32.8 313.5 297.3 279.3 285.6 768.2 762.7 84.0 663.6 236.4 102.8 60.8 185.1 215.4

  6. Slide 6: Derivatives turnover

    Summary Financial results TGE Other financials Appendices Derivatives turnover Derivatives turnover volume mn contracts 15.6 4.2 12.0 11.5 10.6 9.5 3.4  Total derivatives turnover volume in Q3’23: 3.3 3.9 Q4 8.2 8.0 8.2 3.1 2.2 7.6 3.1 mn contracts (-21.4% YoY, -15.6% QoQ) 7.0 1.9 2.2 2.2 2.3 2.7 Q

  7. Slide 7: GPW Group ESG Strategy

    Summary Financial results TGE Other financials Appendices GPW Group ESG Strategy Implementing and operational activities of the Group in pursuit of the GPW Group ESG Strategy 2025: ESG Reporting Guideliness ✓ Monitoring of Scope 1 and Scope 2 emissions from own activities Guide for issuers ✓ Contrac

  8. Slide 8: Financial performance

    Summary Financial results TGE Other financials Appendices Financial performance Sales revenue Operating expenses Sales revenue PLN mn PLN mn PFSA  Revenue up 19.9% YoY to PLN 106.1 mn in +10.5% +23.7% Q3’23. Revenue from the financial market up 13.4% YoY to PLN 65.7 mn (including PLN 6.0 329.0 235.

  9. Slide 9: Revenue on the financial market

    Summary Financial results TGE Other financials Appendices Revenue on the financial market Trading Listing PLN mn PLN mn +5.0% -0.2% 41.0 40.1 6.1 38.2 37.2 38.7 5.6 5.8 Trading revenue +3.7% 5.5 5.5 -5.3%  Revenue from trading up 5.0% YoY to PLN 40.1 mn in Q3’23 mainly due to higher 26.4 29.9 27.6

  10. Slide 10: GPW Group's sales revenue mix in Q3'23

    Summary Financial results TGE Other financials Appendices GPW Group’s sales revenue mix in Q3’23 Listing 1 revenue Other AMX Derivatives 5.2% Financial Market Debt 3.0% Commodity Market 5.6% 48.6% instruments 4.1% Electricity 33.1% vs. 49.4% in Q3’22 3.3% vs. 33.4% in Q3’22 7.5% PLN 65.7mn PLN 35.6m

  11. Slide 11: Commodity market turnover

    Summary Financial results TGE Other financials Appendices Commodity market turnover Electricity and gas spot and forward turnover volume Electricity, TWh Natural Gas, TWh +1.1% +9.0% Electricity market 35.6 36.0 43.4 34.6 34.5 40.8 +4.4%  Total electricity turnover volume in Q3'23 was 27.2 36.0 TWh

  12. Slide 12: Revenue from the electricity, gas and property rights markets

    Summary Financial results TGE Other financials Appendices Revenue from the electricity, gas and property rights markets Q3’23: 18.9% Trading revenue – commodity market  Increase in revenue from trading in electricity in Q3’23 to a record PLN PLN mn 7.9 mn (+135.1% YoY; +19.8% QoQ), driven by record

  13. Slide 13: Revenue from clearing

    Summary Financial results TGE Other financials Appendices Revenue from clearing Q3’23: 9.8% Revenue from clearing PLN mn  Increase in revenue from clearing to PLN 10.4 mn in Q3’23 (+24.9% +24.9% YoY; -9.1% QoQ) mainly driven by a significant year-on-year 13.7 increase in revenue from electricity cl

  14. Slide 14: Operating expenses (OPEX) and CAPEX

    Summary Financial results TGE Other financials Appendices Operating expenses (OPEX) and CAPEX Operating expenses PLN mn PFSA  Total employee costs in Q3’23: PLN 38.1 mn. YoY increase driven by: (1) an increase in salaries, (2) a one-off inflation +25.7% benefit for GPW employees, and (3) an increas

  15. Slide 15: Share of profit of entities measured by the equity method

    Summary Financial results TGE Other financials Appendices Share of profit of entities measured by the equity method Share of profit of entities measured by the equity method PLN mn KDPW CG +23.6%  The Group’s share of profit of entities 10.3 measured by the entity method was PLN 10.3 9.1 +13.1% mn

  16. Slide 16: EBITDA margin and net profit margin

    Summary Financial results TGE Other financials Appendices EBITDA margin and net profit margin EBITDA and EBITDA margin  EBITDA margin: 37.4% in Q3’23 vs. 32.9% in Q3’22. Increase in +4.5 pp revenue (by PLN 17.6 mn YoY) higher than increase in expenses 44.6% (by PLN 15.3 mn YoY). In Q3’23, a one-off

  17. Slide 17: GPW Group's consolidated statement of financial position

    Summary Financial results TGE Other financials Appendices GPW Group’s consolidated statement of financial position PLN mn 30.09.2022 31.12.2022 31.03.2023 30.06.2023 30.09.2023 Non-current assets, including among others 614.6 651.6 672.9 682.8 707.1 Property, plant and equipment 96.5 107.6 106.2 107

  18. Slide 18: Financial Results of the GPW Group Q3 2023

    FINANCIAL RESULTS OF THE GPW GROUP Q3 2023 10 November 2023

  19. Slide 19: GPW Group consolidated statement of comprehensive income

    Summary Financial results TGE Other financials Appendices GPW Group consolidated statement of comprehensive income PLN mn Q3'22 Q4’22 Q1’23 Q2’23 Q3’23 Revenue 88.4 91.5 112.3 110.7 106.1 Financial market 58.0 57.4 66.5 61.1 65.7  Revenue up 19.9% YoY to PLN 106.1 mn in Q3’23. Revenue from the fina

  20. Slide 20: GPW Group consolidated statement of cash flows

    Summary Financial results TGE Other financials Appendices GPW Group consolidated statement of cash flows PLN mn 9 months period ended 30 September of 2022 2023 Total net cash flows from operating activities 196.0 119.6 Net profit of the period 107.3 112.6 Adjustments: 124.0 35.1 Income tax 23.8 23.2

  21. Slide 21: KDPW Group's financial results

    Summary Financial results TGE Other financials Appendices KDPW Group’s financial results PLN mn Q3'22 Q3'23 9M’22 9M’23 Revenue 56.1 64.2 164.6 181.3 Operating expenses 34.6 37.4 101.1 113.8 Operating profit 21.5 26.7 63.6 67.5 Increase in KDPW Group’s revenue from PLN 56.1 mn Net profit (PSR) 23.2

  22. Slide 22: GPW Group's revenue structure, last 12 months

    Summary Financial results TGE Other financials Appendices GPW Group’s revenue structure, last 12 months1 GPW Group: PLN 420.5 mn Financial Market: PLN 255.5 mn Commodity Market: PLN 149.6 mn 5.5% Electricity 3.2% Gas Financial Trading Shares 27.0% market Property 18.7% 46.9% 5.0% rights Trading 37.3

  23. Slide 23: Financial market: Trade in equities

    Summary Financial results TGE Other financials Appendices Financial market: Trade in equities Equity turnover value and number of transactions Average number of transactions per session, thous. Value of trading in equities, PLN bn 133.2 135.9 131.4 130.8 120.7 80.2 73.1 72.1 65.9 70.1 51.9 55.5 297

  24. Slide 24: Financial market: Trade in derivatives

    Summary Financial results TGE Other financials Appendices Financial market: Trade in derivatives Derivatives turnover volume Number of open interest, thous. Volume, mn. 406.6 371.6 351.2 330.1 290.0 184.8 171.2 15.6 165.0 12.6 138.1 140.1 143.6 11.5 12.0 11.4 104.2 10.6 9.5 4.1%2 8.2 8.0 7.6 8.2 7.0

  25. Slide 25: Financial market: Other instruments and fees paid by participants

    Summary Financial results TGE Other financials Appendices Financial market: Other instruments and fees paid by participants Treasury BondSpot Poland turnover value 3.3%1 Cash Transactions, PLN bn Repo Transactions, PLN bn 845 767 347 599 327 535 474 260 413 407 64 196 369 318 329 147 282 76 255 54 9

  26. Slide 26: Financial market: Listing

    Summary Financial results TGE Other financials Appendices Financial market: Listing Capitalisation of domestic companies on the Main Market Market Cap/GDP, % Market Cap of local companies, PLN bn 36.5% 34.8% 34.8% 30.0% 30.0% 28.9% 27.2% 25.0% 23.6% 20.9% 671 701 593 631 591 557 579 550 575 5.2%1 51

  27. Slide 27: Financial and commodity market: Information services

    Summary Financial results TGE Other financials Appendices Financial and commodity market: Information services Number of data vendors Local Remote 96 99 95 87 90 83 78 36 36 36 35 37 58 58 37 54 53 52 36 34 31 30 28 27 60 59 63 13.9%1 50 55 42 46 24 27 24 25 25 2013 2014 2015 2016 2017 2018 2019 202

  28. Slide 28: Commodity market: Trade in electricity and gas

    Summary Financial results TGE Other financials Appendices Commodity market: Trade in electricity and gas Electricity turnover volume1 Spot, TWh Forward, TWh 243.2 226.1 228.9 225.2 34.8 27.7 33.9 36.2 186.8 186.7 176.6 23.8 25.1 22.3 141.4 126.7 111.7 33.0 114.2 27.7 105.1 25.2 198.3 195.0 208.3 24.

  29. Slide 29: Commodity market: Trade in property rights

    Summary Financial results TGE Other financials Appendices Commodity market: Trade in property rights Property rights spot turnover 2 Green certificates (RES), TWh Cogeneration certificates, TWh 58.9 58.1 59.3 50.2 43.9 26.6 30.8 39.3 29.8 36.0 24.0 25.9 27.0 25.9 21.8 24.8 19.8 3.6%1 32.1 16.0 32.3

  30. Slide 30: Commodity market: Register of Certificates of Origin

    Summary Financial results TGE Other financials Appendices Commodity market: Register of Certificates of Origin Volume of issued certificates of origin Green certificates (RES), TWh Cogeneration certificates, TWh 50.7 47.2 48.5 47.5 42.2 23.4 18.9 19.9 35.1 24.5 29.5 21.6 21.0 22.3 11.9 19.6 19.8 17.

  31. Slide 31: IR events and Contact: GPW Investor Relations

    IR events Disclaimer 9 November 2023 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its shareholders, analysts, and other Publication of consolidated quarterly report for Q3 2023 contractors. This presentation h

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