B3 SA - Brasil, Bolsa, Balcao · BMFBOVESPA:B3SA3
B3 SA - Brasil, Bolsa, Balcao — Bm&fbovespa — Q2 2016 Earnings Presentation
19 slides from B3 SA - Brasil, Bolsa, Balcao's earnings presentation, Aug 12, 2016
Slide 1: 2Q16 earnings presentation
2Q16 earnings presentation August 12, 2016 1 Public X Public
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: 2Q16 vs. 2Q15 highlights
2Q16 vs. 2Q15 highlights Bottom line impacted by extraordinary and mainly non-cash items Operating highlights Financial highlights Strategic updates 2Q16 (vs. 2Q15) 2Q16 (vs. 2Q15) BM&F Segment: Total revenue: R$637.9 mn, +3.7%, Proposed business combination ADV: 3.0 mn contracts, +4.0% BM&F Seg.: R
Slide 4: 2Q16 extraordinary items
2Q16 extraordinary items Extraordinary items that impacted the IFRS net income 2Q16 RESULTS WERE IMPACTED BY EXTRAORDINARY ITEMS MAINLY RELATED TO THE DIVESTMENT FROM CME GROUP SHARES AND THE PROPOSED TRANSACTION WITH CETIP Line impacted in the (in R$ millions) Before tax After tax income statement
Slide 5: Products and services updates
Products and services updates Developing products in partnership with the market Greater liquidity for listed products Expanding market maker programs for options on single stocks and financial and commodities derivatives (35 programs in 2Q16 versus 19 in 2Q15) Marketing the securities lending platf
Slide 6: 2Q16 revenue breakdown
2Q16 revenue breakdown¹ Revenue diversification and business model resilience REVENUE (in R$ millions / % growth YoY) USD-linked revenue represented 25.0% of the total revenue Total revenue R$637.9 mn 1 The revenue breakdown considers the revenue lines “others” of the Bovespa Segment and “foreign ex
Slide 7: Derivatives market
Derivatives market¹ Revenue growth as a result of higher ADV from Mini contracts REVENUE (in R$ millions) ADV (in millions of contracts) Contracts 2Q15 2Q16 YoY Interest Rates in BRL 1.62 1.40 -13.9% FX Rates 0.47 0.41 -11.7% Interest Rates in USD 0.25 0.26 4.9% Commodities 0.01 0.01 -14.8% Mini con
Slide 8: Equities market
Equities market¹ Increase in turnover velocity was offset by lower average market cap REVENUE² (in R$ millions) ADTV² (in R$ millions) Markets 2Q15 2Q16 YoY Cash equities 6,868.0 6,872.4 0.1% Equities derivatives 250.3 269.5 7.7% TOTAL 7,118.3 7,141.9 0.3% TRADE AND POST-TRADE MARGINS Trade and post
Slide 9: Business lines not tied to volumes
Business lines not tied to volumes Growth in revenue not tied to volumes 2Q16 REVENUE BREAKDOWN¹ (in R$ millions) +8.1% YoY ¹ Revenue as reported in the financial statements note 20. 9
Slide 10: 2Q16 expenses
2Q16 expenses Continued focus on expense management ADJUSTED EXPENSES¹ (in R$ millions) 2Q16 adjusted expenses grew by 3.5% YoY, significantly below the average inflation rate of 8.8%² Data processing Adjusted Third-party Others4 (+11.6%): personnel³ services (-4.7%) inflation/FX rate (+4.5%): grew
Slide 11: Financial highlights
Financial highlights Higher cash position to fund proposed combination with Cetip CASH AND FINANCIAL INVESTMENTS (in R$ millions) 2Q16 10,463 BM&FBOVESPA’s cash position totaled R$8.2 bn in 2Q16 R$2.0 - R$2.5 bn to run the business 1Q16 R$1.1 bn in clearinghouses’ required safeguards 5,660 The r
Slide 12: Financial highlights (cont.)
Financial highlights (cont.) Divestment from CME Group shares impacted the financial result EXCLUDING EXTRAORDINARY AND MAINLY NON-CASH IMPACTS FROM THE DIVESTMENT FROM CME GROUP SHARES, RECURRING FINANCIAL RESULT WOULD HAVE TOTALED R$170.9 MILLION IN 2Q16 (in R$ millions) Extraordinary impacts Recu
Slide 13: Financial highlights (cont.)
Financial highlights (cont.) Strong cash generation CASH GENERATION¹ (in R$ millions) 2Q15 2Q16 Cash generation¹ reached R$444.7 Adjusted net cash from operating 495.8 423.1 million in 2Q16, flat YoY activities² Net cash from operating activities was impacted by R$128.7 million cash tax payment (P
Slide 14: Appendix
BM&FBOVESPA The New Exchange APPENDIX 14
Slide 15: Adjusted expenses
Adjusted expenses Reconciliation of the adjusted expenses ADJUSTED EXPENSES RECONCILIATION (in R$ millions) Change 2Q16 2Q15 2Q16/2Q15 Total expenses 268.8 198.0 35.7% (-) Depreciation (23.8) (28.1) -15.4% (-) Stock grant/option (41.2) (22.1) 86.3% (-) Proposed business combination with Cetip¹ (46.3
Slide 16: Adjusted net income and payout basis
Adjusted net income and payout basis Reconciliation of the net income and payout basis ADJUSTED NET INCOME RECONCILIATION (in R$ millions) Change 2Q16 2Q15 2Q16/2Q15 IFRS net income (loss)* (114.4) 318.0 -136.0% (+) Stock grant/option (net of tax) 27.2 12.7 114.5% (+) Deferred liability (goodwill fi
Slide 17: Financial Statements
Financial Statements Summary of balance sheet (consolidated) ASSETS (in R$ millions) LIABILITIES AND SHAREHOLDERS´EQUITY (in R$ millions) 06/30/2016 12/31/2015 06/30/2016 12/31/2015 Current assets 8,649.7 8,673.8 Current liabilities 3,241.3 2,096.8 Cash and cash equivalents 470.6 440.8 Collateral fo
Slide 18: Financial Statements
Financial Statements Summary of income statement (consolidated) SUMMARY OF INCOME STATEMENT (in R$ millions) Change Change 2Q16 2Q15 1Q16 2Q16/2Q15 2Q16/1Q16 Net revenues 574.5 554.6 3.6% 563.5 1.9% Expenses (268.8) (198.0) 35.7% (202.0) 33.0% Operating income 305.7 356.6 -14.3% 361.5 -15.4% Operati
Slide 19: Investor Relations Department
Contact Investor Relations Department Phone: 55 11 2565-4729 / 4418 / 4207 / 4834 / 7938 ri@bmfbovespa.com.br 19