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

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie — Q2 2020 Earnings Presentation

33 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Aug 14, 2020

  1. Slide 1: Financial Results of the GPW Group Q2 2020

    FINANCIAL RESULTS OF THE GPW GROUP Q2 2020 14 August 2020

  2. Slide 2: Agenda

    1. GPW Group milestones and summary of turnover on the financial market in Q2 2020 2. GPW Group financial results in Q2 2020 3. Summary of turnover on the commodity market and TGE Group financial results in Q2 2020 4. Other financials 5. Appendices

  3. Slide 3: Business milestones in Q2'20

    Business milestones in Q2’20 Current business performance: EBITDA up to Net profit C/I: Dividend payout PLN 63.2 mn up to PLN 43.5 44.5 in Q2’20 at PLN 2.40 per (+9.7% YoY, mn (+2.2% YoY, vs. share +26.2% QoQ) +48.6% QoQ) 48.6 in Q2’19 (11.08.2020) Strategic initiatives: Analytical Updated CoverageC

  4. Slide 4: Q2'20 equity turnover on European exchanges

    Q2’20 equity turnover on European exchanges Change in equity turnover value  EOB equity turnover on 79,5% GPW increased by EOB Turnover (EUR): Q2'20 vs Q2'19 (FESE) 49.6% YoY in Q2’20, 47,1% 49,6% 36,6% 40,1% 40,3% one of the best results in 26,6% 11,3% 21,6% Europe (FESE data in 5,9% 3,3% EUR). -1

  5. Slide 5: Investor activity on the financial market

    Investor activity on the financial market  Increase of the Main Market EOB turnover value to PLN 70 Main Market EOB turnover value bn in Q2’20 (+51.9% YoY, +15.3% QoQ) EOB Trading Turnover velocity  Index performance: WIG20 +16.26%, mWIG40 +21.7%, sWIG80 +30.7% 61,0% PLN bn 80 70 ,00% 70 48,8% 60

  6. Slide 6: YoY increase in derivatives turnover

    YoY increase in derivatives turnover Derivatives turnover volume mn  Increase of the derivatives turnover volume 68.8% in Q2’20 to 2.7 mn: +68.8% YoY. 3.1 2.7 -12.8%  Increase of the WIG20 futures turnover 2.2 volume in Q2’20 to 1.49 mn.: +66.6% YoY. 2.1 2.0 1.8 1.7 1.7 1.6  Increase of the singl

  7. Slide 7: GPW Group milestones and summary of turnover on the financial market

    1. GPW Group milestones and summary of turnover on the financial market in Q2 2020 2. GPW Group financial results in Q2 2020 3. Summary of turnover on the commodity market and TGE Group financial results in Q2 2020 4. Other financials 5. Appendices

  8. Slide 8: GPW Group's excellent financial results in Q2'20

    GPW Group’s excellent financial results in Q2’20  Sales revenue Sales revenue Operating expenses Increase of sales revenue in Q2’20 PLN mn C/I 57.8% C/I 56.4% by 13.5% YoY and 4.2% QoQ driven +14.4% 51.0% by higher revenue on the financial 48.6% 44.5% 198.2 3.5% market. 173.3 PLN mn 13.5% KNF fee 9

  9. Slide 9: Stable EBITDA margin

    Stable EBITDA margin Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 64.6% 67.8% 62.5% 51.3% 51.6% 47.7% 49.8% 43.0% PLN mn 30.2% +13.5% 14.0% PLN mn 101.1 97.0 +9.7% 89.1 82.5 80.3 PLN mn 63.2 +2.2% 57.6 55.9 50.0 42.6 41.1 43.5 41.2 29.3 11.2 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q

  10. Slide 10: Increase in trading revenue on the financial market

    Increase in trading revenue on the financial market  Trading revenue on the financial market at PLN 44.0 mn in Q2’20: 43,6% Q2’20 (+54.9% YoY). Trading revenue – financial market  Average EOB turnover in shares per session on the Main PLN mn Market in Q2’20 at PLN 1182.5 mn vs. PLN 986.4 mn in +54

  11. Slide 11: Listing revenue

    Listing revenue Q2’20: 4,4% Listing revenue  One new listing on the Main Market (Games Operators) PLN mn and one new listing on NewConnect (SimFabric) in Q2’20.  Main Market SPO value Q2’20 was PLN 604 mn vs. PLN 892 mn in Q1’20 vs. PLN 41 mn in Q2’19. -25.9% 5.4  Expected recovery in IPO activit

  12. Slide 12: Record-high revenue from information services

    Record-high revenue from information services Q2’20: 13,0%  New GPW Group data agreements were signed in Revenue from information services – Q2’20 with users in different market segments, financial market and commodity market namely:  GPW data:  1 data vendor Information services (commodity marke

  13. Slide 13: Commodity market and TGE Group results

    1. GPW Group milestones and summary of turnover on the financial market in Q2 2020 2. GPW Group financial results in Q2 2020 3. Summary of turnover on the commodity market and TGE Group financial results in Q2 2020 4. Other financials 5. Appendices

  14. Slide 14: Commodity market turnover in Q2'20

    Commodity market turnover in Q2’20 Electricity and gas spot and forward turnover volume  Electricity market: Total electricity turnover volume in Electricity (TWh) Gas (TWh) Q2’20 was 62.8 TWh (+18.8% YoY). The spot turnover volume was 8.5 TWh (+1.6% YoY). The forward turnover 39.6 40.7 39.9 65.0 6

  15. Slide 15: Revenue from the electricity, gas, and property rights markets

    Revenue from the electricity, gas, and property rights markets Q2’20: 19,0%  Increase of revenue from trading in electricity in Q2’20 to PLN 4.7 mn (+34.4% YoY) driven by a dynamic increase in turnover on Trading revenue – commodity market the forward market combined with a modest increase in turno

  16. Slide 16: Revenue from clearing

    Revenue from clearing Q2’20: 11,2% Revenue from clearing  Decrease of revenue from clearing in Q2’20 to PLN 11.4 PLN mn mn (-6.9% YoY) -6.9%  Increase of the revenue from the operation of the Register 12.4 13.1 of Certificates of Origin in Q2’20 to PLN 9.1 mn (+1.6% 12.2 11.4 10.8 -13.2% YoY) driv

  17. Slide 17: Other financials

    1. GPW Group milestones and summary of turnover on the financial market in Q2 2020 2. GPW Group financial results in Q2 2020 3. Summary of turnover on the commodity market and financial resultsGK TGE w I kw. 2020 4. Other financials 5. Appendices

  18. Slide 18: Q2'20 operating expenses, financial expenses and other expenses

    Q2’20 operating expenses, financial expenses and other expenses  Cost/income ratio (C/I)2 in Q2’20 at 44.5 vs. 48.6 in Q2’19. Operating expenses: +4.0% YoY to PLN 45.0 mn  Depreciation charges at PLN 9.1 mn (-3.6% YoY, -7.0% QoQ). PLN mn 56.1  Increase of salaries and other employee costs to PLN

  19. Slide 19: Share of profit of entities measured by equity method

    Share of profit of entities measured by equity method Share of profit of entities measured by equity method PLN mn PAR KDPW CG  Group’s share of profit of associates and joint ventures in Q2’20 at PLN 4.4 mn (+21.0% YoY, +122.4% QoQ). 4.7 4.4  KDPW: 3.6  The Group’s share of net profit of KDPW in

  20. Slide 20: GPW Group's consolidated statement of financial position

    GPW Group’s consolidated statement of financial position PLN mn 30.06.2019 30.09.2019 31.12.2019 31.03.2020 30.06.2020 Non-current assets, including among others 586,2 585,6 590,1 587,8 577,4 Property, plant and equipment 100,6 97,3 102,0 98,2 95,6  The increase of assets Intangible assets 246,8 24

  21. Slide 21: Appendix – back-up slides

    Appendix – back-up slides

  22. Slide 22: GPW Group's revenue structure for 12 months ended 30 June 2020

    GPW Group’s revenue structure: incremental for 12 months ended 30 June 2020 GPW Group: 360,6 PLN mn including TGE Group: 150,2 PLN mn Other revenue (0,2%) Information services (commodity 0,2% 0,3% market) Clearing 13,2% Register of Certificates of Origin 7,3% Trading - other Commodity Market: 41,6%

  23. Slide 23: GPW Group consolidated statement of comprehensive income

    GPW Group consolidated statement of comprehensive income PLN mn Q2'19 Q1'20 Q2'20  The increase of sales revenue in Q2’20 was Revenue 89,1 97,0 101,1 driven by an increase of revenue on the Financial market 45,4 58,7 60,7 financial market by 33.5% YoY, i.e., by PLN Trading 28,4 41,5 44,0 15.2 mn to

  24. Slide 24: GPW Group consolidated cash flows

    GPW Group consolidated cash flows PLN mn 6 months period ended 30 June of 2020 2019 Total net cash flows from operating activities 138,5 137,7  Positive cash flows from operating Net prof it of the period 72,8 67,0 activities in H1’20 stood at PLN 138.1 Adjustments: 85,7 89,4 mn vs. PLN 137.7 mn in

  25. Slide 25: Financial market: Trading in equities

    Financial market: Trading in equities Equity turnover value and number of transactions Average number of transactions per session (thous.) 35.1%1 Value of trading in equities (PLN bn) 128.7 80.2 70.1 73.1 72.1 72.0 65.9 51.4 55.3 51.9 55.5 48.4 251 46.4 38.2 220 236 207 188 205 203 190 204 191 160 1

  26. Slide 26: Financial market: Trading in derivatives

    Financial market: Trading in derivatives Derivatives turnover volume Number of open Interes (thous.) 3.7%2 184.8 182.0 168.1 165.0 171.2 164.2 132.8 137.2 138.1 140.1 143.6 131.0 104.2  Revenue drivers: 80.4  Derivatives turnover volume 14.7 15.5 12.6 13.8 11.3 12.6 9.5 8.2 8.0 8.2 7.6 7.0  Numbe

  27. Slide 27: 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 2.4%1 1.037 1.062 307 845 450 767 1.9%2 347 327 599 535 260 413 407 196 324 731 147 282 612 255 135  Revenue drivers: 101 498 439 339 338 86 183 54 8

  28. Slide 28: Financial market: Listing

    Financial market: Listing Capitalisation of domestic companies Market capitalization/GDP (%) 4.4%1 Market capitalization of local companies (PLN bn) 36,8% 36,5% 34,8% 34,8% 30,7% 32,0% 28,9%30,0% 30,0% 27,9%  Revenue drivers: 25,0% 22,0% 20,0% 18,4% 671 594 593 591 579  Capitalisation at YE 421 54

  29. Slide 29: Financial and commodity market: Information services

    Financial and commodity market: Information services Number of data vendors Domestic 13.0%1 Foreing 83 82 85 78 58 58 58 37 37 57 54 36 38 50 52 53 52 37 34 31 37 30 28 27  Revenue drivers: 32 33 42 46 44 48  Number of data vendors 18 19 20 21 24 27 24 25 25  Number of subscribers 2009 2010 2011

  30. Slide 30: Commodity market: Trading in electricity and gas

    Commodity market: Trading in electricity and gas Electricity turnover volume (TWh)1 Spot 226.1 228.9 7.6%2 Forward 27.7 33.9 186.8 186.7 176.6 23.8 25.1 22.3 139.4 gaz 130.8 126.7 129.4 87.9 21.3 111.7 97.2 17.0 21.7 27.7 16.9  Revenue drivers: 13.4 25.2 198.3 195.0 154.3 163.0 161.6 109.1 118.1 11

  31. Slide 31: Commodity market: Trading in property rights

    Commodity market: Trading in property rights Property rights spot turnover (TWh) Green certificates Cogeneration certificates2 8.2%1 62,2 58,9 58,1 59,3 48,8 50,8 50,2 19,9 36,0 44,8 43,9 39,3 32,126,6 29,8 30,8 13,2 15,1 9,6 3,9 24,0 29,9 32,0 25,9 6,8 21,8  Revenue drivers: 14,0 42,4 35,2 35,6 35

  32. Slide 32: Commodity market: Register of Certificates of Origin

    Commodity market: Register of Certificates of Origin Volume of issued certificates of origin (TWh) Green certificates 50.7 9.0%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 31.9 15.3 10.8 10.7 29.5 21.6 27.6 26.3 11.9 21.0  Revenue drivers: 12.2 14.3 25.8 2

  33. Slide 33: IR events, Contact and Disclaimer

    IR events Disclaimer  3-4 September 2020 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its Investor's Day: CEE Financials, PKO BP shareholders, analysts, and other contractors. This presentation has been prepa

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