Bolsa De Valores De Colombia S.a. · BVC:BVC
Bolsa De Valores De Colombia — Investor Presentation (June 2017)
34 slides from Bolsa De Valores De Colombia's investor presentation, June 2017
Slide 1: Bolsa de Valores de Colombia Corporate Presentation 2017
1 Bolsa de Valores de Colombia Corporate Presentation 2017
Slide 2: Disclaimer
2 Disclaimer: The views expressed in this presentation not necessarily reflect the institutional view of the Colombian Stock Exchange (BVC for its acronym in Spanish). The information contained herein is only accurate as of the date thereof, may be updated, supplemented, amended or otherwise altered
Slide 3: BVC Overview
3 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 4: BVC Overview
4 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 5: Bolsa de Valores de Colombia
5 Bolsa de Valores de Colombia We are the strategic partner of the financial and capital market sectors in technology, information, trading and post-trading services Our Value Proposition Our Regional Presence Our Strengths Operating Revenues Growth • Equities 15% • Fixed Income CAGR 08-16 Capital M
Slide 6: Our Business Lines
6 Our Business Lines A complete service portfolio throughout the whole value chain Capital Technology Markets & Information Post-Trading Solutions & Issuer Services Services Innovation Services Growth Turnover - Interconnected Markets - Efficiency & Market Integrity Drivers Massification – IT & Info
Slide 7: Our Business Lines
7 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 8: Capital Markets
8 Capital Markets We organize markets to ensure their eligibility We use technology to foster growth, facilitate the execution of trading strategies, and bring access to more participants Volume & Transaction Driven Revenue Business Line Revenue Contribution • Fixed Income Market: • FX Market: Elect
Slide 9: Capital Markets
9 Capital Markets We organize markets to ensure their eligibility We use technology to foster growth, facilitate the execution of trading strategies, and bring access to more participants Fixed Income Equity Market Our Results 0,1 CAGR 08-16: -2% 0,1 CAGR 08-16: +0.5% Fixed Income Market Equity Mark
Slide 10: Issuer Services
10 Issuer Services The Colombian Capital Market is a strong financing alternative for companies Recurring Revenue Business Line: Revenue Contribution • Securities listing: Fixed income: Listing and annual maintenance fees vary for type of security and The BVC promotes among listed sector. Financial
Slide 11: Issuer Services
11 Issuer Services The Colombian Capital Market is a strong financing alternative for companies Issuances Listings Our Results Issuances IR Recognition 2016 COP$ 130 trillion 32 issuers 2008-2016 26 reporting sustainability on GRI4 Innovators Development of electronic systems that promote and guaran
Slide 12: Our Business Lines
12 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 13: Technology Solutions & Innovation
13 Technology Solutions & Innovation We enable financial industry capabilities We deliver IT innovation and digital solutions for financial and capital markets Revenue Contribution Expand the IT Explore and solutions offering for Enable market Enable electronic appropriate new market access: the fin
Slide 14: Sophos Leverages our IT Strategy
14 Sophos Leverages our IT Strategy A regional player specialized in IT services for banking, capital markets and digital channels Recurring Revenue Business Line Revenue Contribution Regional experience and in Specialized implementation Partner of the leading depth knowledge of our and integration
Slide 15: Master Trader Project - BVC Trading Platform Upgrade
Technology Solutions & Innovation Master Trader Project - BVC Trading Platform Upgrade All Markets in One Single Trading Platform Phase 1: Sep 2017 Phase 2: Mar 2018 Current Master Trader: Master Trader: Trading Fixed Income All Markets Infrastructure Market Fixed Income – Public GR Fixed Income – P
Slide 16: Our Business Lines
16 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 17: Information Services
17 Information Services Information and knowledge at the service of financial and capital markets We use technology, analytics and digital marketing to grow our business and provide broader access Fee-Based & Subscription Revenue Business Line Revenue Contribution • Terminals: market screens Knowled
Slide 18: Information Services
18 Information Services Information and knowledge at the service of financial and capital markets We use technology, analytics and digital marketing to grow our business and provide broader access # of Vendors % Electronic orders SAE Our Results CAGR 09-16: +25% 8% 8% 6% 4% Infovalmer 36% 96 % +44.0
Slide 19: Our Business Lines
19 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 20: Post-Trading Services
20 Post-Trading Services We are consolidating the Colombian capital markets value chain Promote infrastructure Our Results Reliable and efficient development: Interconnect C&S C&S processes: participants: Developed the existing +1,5 million we doing? ¿What are Process optimization, CCPs: CRCC and CC
Slide 21: Dividends From Subsidiaries & Long-term Investments
21 Dividends From Subsidiaries & Long-term Investments Total Dividends for BVC totaled COP$ 18.335 million (+65% YoY) Subsidiaries: $10.328m (+67% YoY) Long-term Investments: $8.007m (+63% YoY) Sophos Deceval Dividend: $5.456M (+142% YoY) Dividend: $5.547M (+22% YoY) Payment Dates: Mar 31 & Oct 31 P
Slide 22: Post-Trading Services: BVC-DECEVAL Pro-forma
22 Post-Trading Services We are consolidating the Colombian capital markets value chain The transaction BVC - DECEVAL will bring greater financial soundness Operating Revenues LTM 1Q17 Revenue Distribution by business lines Revenue Distribution by type 74.612 236.140 Capital Markets 18% 22% 22% 161.
Slide 23: BVC-DECEVAL Transaction: Timeline Follow Up
23 Post-Trading Services BVC – DECEVAL Transaction: Timeline Follow Up After the approval from both Shareholders' Meetings, the closing of the Transaction is subject to regulatory approvals from SFC and SIC Mar 24/28 T1 + N1 T2 + N2 T3 + N3 T4 + N4 T1 N1: Days T2 N2: SFC Time T3 N3: SFC and SIC Time
Slide 24: BVC Financial Highlights
24 BOLSA DE VALORES DE COLOMBIA - BVC Overview Our Business Lines: Capital Markets & Issuer Services Technology Solutions & Innovation Information Services Post-Trading Services BVC Financial Highlights
Slide 25: Subsidiaries and Long Term Investments LTM 1Q17
25 BVC: Subsidiaries and Long Term Investments LTM 1Q17 $74.612 +10% YoY $40.615 +13% YoY $67.505 +66% YoY $24.510 +16% YoY $1.045 $18.382 +31% YoY Individual $11.154 +33% YoY $66.773 +14YoY $20.021 +31YoY 22,98% $24.267 +14YoY $14.448 +32% YoY $7.109 +21% YoY 51% Consolidated 32,6% $5.901 +97% YoY
Slide 26: BVC Financial Highlights: Revenues
26 BVC Financial Highlights High Recurring Revenues 68% from Issuer Services, Information and Technology Solutions Revenues Breakdown LTM 1Q17 Total Revenue CAGR 08-16: +13% 165 161 2% 133 14% Capital Markets 120 32% Information Services 88 83 86 Total Revenue Technology Solutions & 82 69 74 COP$ 16
Slide 27: BVC Financial Highlights: Expenses
27 BVC Financial Highlights Total Expenses mainly explained by Subsidiaries 53% Expenses Breakdown LTM 1Q17 2% 2% Total Expenses Employee Benefit Expenses 26% 121 Depreciation & Amortization 116 Total Expenses Expenses COP$ 121 Other Ordinary Expenses 97 Billion CAGR 08-16: +12% 8% 62% 85 Projects N
Slide 28: BVC Financial Highlights: EBITDA and Net Profit
28 BVC Financial Highlights EBITDA Net Profit CAGR 08-16: +16% CAGR 08-16: +12% 49% 51% 46% 38% 36% 36% 44% 43% 40% 32% 37% 34% 31% 33% 32% 30% 31% 23% 53 52 21% 20% 20% 42 39 42 19% 32 34 30 33 33 32 31 28 25 28 27 28 27 24 21 18 10 2008 2009 2010 2011 2012 2013 2014 2015 2016 LTM LTM 2008 2009 201
Slide 29: BVC Financial Highlights: Cash Flow, EPS and Dividend Yield
29 BVC Financial Highlights Cash Flow EPS / Dividend Yield 2016 35 CAGR 08-16: +3% 33 30 6,3% CAGR 08-16: +22% 5,2% 24 5,7% 20 4,2% 4,15% 4,0% 4,8% 1,52 11 11 2,8% 1,42 9 9 0,90 7 6 2,2% 0,89 0,89 0,72 1,42 0,83 0,93 2008 2009 2010 2011 2012 2013 2014 2015 2016 LTM LTM 2008 2009 2010 2011 2012 2013
Slide 30: BVC Ownership Structure
30 BVC Ownership Structure Foreign shareholders represents 46% of BVC’s ownership Shareholders Distribution Shareholder's Distribution Less Than 1% Between 1% - 5% Retail Investors, 4% Universities, 7% Local Investment Funds, 0,3% Pension Funds, 14% 1.005 Shareholders 14 Shareholders Real Sector, 14
Slide 31: Thank You
31 Thank You For further information please contact: Carlos Barrios Director of Investor Relations Office & Corporate Social Responsibility Bolsa de Valores de Colombia Tel. (+57 1) 3139800 Ext. 1167 Email: cbarrios@bvc.com.co
Slide 32: Colombian Macroeconomic Ratios
32 Colombian Macroeconomic Ratios Investment Grade Since 2011 6 Largest Fixed Income Market in the World th ADTV in BVC as of 2016: USD1.4 billion 4 th Largest economy in Latin America with 48 million people and 7 cities with population over 1 million Market Colombia is the 5 th Capitalization CAGR
Slide 33: Colombian Macroeconomic Ratios
33 Colombian Macroeconomic Ratios GDP Growth Inflation (%) 7,7% 6,6% 6,8% 5,8% 4,0% 4,6% 4,3% 3,5% 4,0% 3,7% 3,7% 3,1% 3,2% 2,0% 3,2% 1,9% 1,1% 2,4% 1,7% 2,0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* Central Bank Intervention Rate (%) Var
Slide 34: Colombian Macroeconomic Ratios
34 Colombian Macroeconomic Ratios AUM Pension Funds (COP Trillions) AUM Distribution (%) 250 234 Cash and 222 Derivatives CAGR 05-16: 18% 3% 195 200 181 164 Foreign 149 Equity 150 128 Market 26% Local Fixed 103 Income 100 80 49% Foreign 51 59 Fixed Local Equity Multi-fund Scheme Income Market 50 s
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