Bolsas y Mercados Argentinos SA · BCBA:BYMA
Bolsas y Mercados Argentinos SA — Q4 2017 Earnings Presentation
13 slides from Bolsas y Mercados Argentinos SA's earnings presentation, Mar 2, 2018
Slide 1: 4Q17 Earnings Presentation
4Q17 Earnings Presentation Proforma statements March 2nd
Slide 2: Key business drivers
Key business drivers Main drivers for Argentine Capital Market continued to show significant growth in 4Q17 ASSETS UNDER CUSTODY ARS Millions 3.500.000 • +49% YoY 3.000.000 3.306.529 2.841.645 2.500.000 2.406.946 2.000.000 2.216.732 2.282.057 1.919.191 1.500.000 1.488.787 1.583.614 • +16% QoQ 1.000.
Slide 3: Quarterly Revenue Breakdown
Quarterly Revenue Breakdown BYMA continued to show growth in the main businesses which translated to revenue growth BYMA (ARS Millions) 3Q 17 4Q 17 QoQ $ QoQ % TOTAL REVENUE 323,1 399,0 75,9 23,5% Revenue Breakdown 4Q17 2% ADC Services CSD (ARS Millions) 3Q 17 4Q 17 QoQ $ QoQ % 3% ADC Services 169,5
Slide 4: Yearly Revenue Evolution
Yearly Revenue Evolution Revenue increased 41% YoY mainly due to increase in ADC services and Trading, C&S fees. BYMA (ARS Millions) 4Q 16 4Q 17 YoY $ YoY % ARS +116,5 M growth in revenue is explained by: TOTAL REVENUE 282,4 399,0 116,6 41,3% • Strong growth in ADC Services due to the increase in Au
Slide 5: Quarterly Operating Expenses Breakdown
Quarterly Operating Expenses Breakdown Increase of 60% in operating expenses explained mainly by Amortization and Restructuring reserve ARS Millions 3Q 17 4Q 17 QoQ $ QoQ % Operating Expenses Breakdown 4Q17 Compensations 106,3 108,2 1,8 1,7% Compensations Taxes 24,8 31,6 6,8 27,7% 2% 5% Taxes Mantin
Slide 6: Yearly Operating Expenses Evolution
Yearly Operating Expenses Evolution Increase in compensations drove expenses up due to a ARS 40M reserve. Amortization also had high impact. ARS Millions 4Q 16 4Q 17 YoY $ YoY % Compensations 88,3 108,2 19,9 22,6% ARS +112,8 M change is explained mainly by: Taxes 22,0 31,6 9,6 43,6% • Increase in Am
Slide 7: Operating and Non-operating Financial Income
Operating and Non-operating Financial Income Improved efficiencies in the way BYMA invest, +13% QoQ growth, even rates went down 20% on average BYMA - FINANCIAL INCOME (ARS) 3Q17 4Q17 QoQ $ QoQ % Investments* 241,0 272,0 31 13% Exchange rate changes 45,3 135,4 90 199% TOTAL INCOME 286,3 407,3 121 42
Slide 8: Financial Income and Cash Balances Evolution
Financial Income and Cash Balances Evolution Financial income – ARS Million 450 398,8 407,3 400 350 Investments 135,4 288,4 284,8 286,3 300 Exchange rate 192,9 256,4 20,9 228,0 45,3 250 209,7 94,8 96,5 23,1 200 145,2 40,8 122,8 125,3 11,2 95,9 267 272 150 15,3 241 11,8 206 205 190 169 100 134 160 15
Slide 9: Operating Margin
Operating Margin We continue to show growth in the Operating Margin and we are getting closer to our goal of 50%. Operating Mg. Evolution - Rolling 12M 50% Operating Margin 45% 40% 33% 35% 30% 25% 31% 33% 20% 15% 10% 19% 5% 0% 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 BYMA 2015 BYMA 2016 BYMA 4Q1
Slide 10: Key Financial Figures
Key Financial Figures (in ARS million except per share data) 4Q17 Operating Revenue CSD 264,4 EXCHANGE 114,2 Total Revenue 399,0 Operating Costs Other financial information Total expenses 299,4 Quarterly EPS 5,75 Operating Margin, YTD 33% Total Operating Income 99,5 Share Price (Dec 31st) 340 Financ
Slide 11: Annual Key Financial Figures
Annual Key Financial Figures (in ARS million except per share data) 2017 Operating Revenue CSD 939,9 EXCHANGE 349,6 Total Revenue 1.289,5 Operating Costs Total expenses 860,2 Total Operating Income 429,3 Financial income Total Financial Income 1.101,2 Earnings from participations in other companies
Slide 12: Financials Efficiency Highlights
Key Take-aways Financials • Revenue: ARS 399m, +41% • Expenses: ARS 299m, +61% 4Q17 vs. 4Q16 • Financial income: ARS 407m, +94% • Earnings Before Taxes: ARS 510m, Efficiency • Operating margin: 33%, YTD. • Strong growth in the Trading, C&S segment due to Highlights significant growth in ADV on equit
Slide 13: Thank you
Thank you www.byma.com.ar 25 de Mayo 359 (C1002ABG) CABA Argentina Matias Lara Mateos – Head of IR matias.laramateos@byma.com.ar +54 (011) 4316-6094
Bolsas y Mercados Argentinos S.A. (BYMA) — Q4 2017 Earnings Presentation on 6ix