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

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q2 2021 Earnings Presentation

34 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Sep 17, 2021

  1. Slide 1: Financial Results of the GPW Group Q2 2021

    FINANCIAL RESULTS OF THE GPW GROUP Q2 2021 17 September 2021

  2. Slide 2: Agenda

    1. GPW Group milestones and summary of trading on the financial market in Q2 2021 2. GPW Group financial results in Q2 2021 3. Summary of trading on the commodity market and TGE Group financial results 4. Other financials 5. Appendix

  3. Slide 3: Q2'21: Milestones

    Q2’21: Milestones Annual General PLN 98.1 mn PLN 45.2 mn Meeting’s resolution Cost/Income: revenue net profit to pay dividend of 51.9% (-3.0% YoY) (+4.1% YoY) PLN 2.50 per share; dividend yield 5.2% New listings on GPW: Main Market In H1’21 individual Implementaton of the ✓ Main Market: 5 IPOs in hi

  4. Slide 4: Equity turnover in Europe (FESE data)

    Equity turnover in Europe (FESE data) Change of EOB turnover H1’21 vs. H1’20 [%] Change of EOB turnover Q2’21 vs. Q2’20 [%] Luxembourg Stock Exchange 31,3% Bulgarian Stock Exchange 51,2% Bulgarian Stock Exchange 27,7% Luxembourg Stock Exchange 50,5% Warsaw Stock Exchange 24,1% Athens Stock Exchange

  5. Slide 5: Continued strong investor activity on the cash market

    Continued strong investor activity on the cash market  Main Market EOB turnover value: PLN 74.9 bn in Q2’21 (+6.5% YoY, -20.1% QoQ) Main Market EOB turnover value 102,8  NewConnect EOB turnover value: PLN 1.2 bn 93,7 in Q2’21 (-56.3% YoY, -55.2% QoQ) 90 ,0% 10 0 EOB Trading Turnover velocity 80 ,0

  6. Slide 6: Strong activity on the derivatives market

    Strong activity on the derivatives market Derivatives turnover volume mn  Derivatives turnover total volume: 2.8 mn +1.1% instruments in Q2’21 (+1.1% YoY, -11.2% 3.3 QoQ) 3.1 3.1 2.7 2.8 -11.2% ✓ WIG20 futures turnover volume in 2.3 2.0 Q2’21: 1.3 mn futures (-9.5% YoY, - 1.7 1.6 1.7 12.6% QoQ) ✓ s

  7. Slide 7: ESG: Environmental, Social, Governance factors

    ESG: Environmental, Social, Governance factors GPW as a public company:  GPW Group’s ESG strategy ➢ GPW are working to implement an ESG strategy for the GPW Group. ➢ We prepare our policies / procedures and develop environmental, social and corporate governance activities in line with the highest s

  8. Slide 8: GPW Group financial results in Q2 2021

    1. GPW Group milestones and summary of trading on the financial market in Q2 2021 2. GPW Group financial results in Q2 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2021 4. Other financials 5. Appendix

  9. Slide 9: Stable financial results

    Stable financial results  Sales revenue Sale revenue Operating expenes Decrease of revenue in Q2’21 by 3.0% YoY to 55.8% PLN 98.1 mn. Revenue on the financial market PLN mn +5.4% C/I 59.1% 51.9% 50.4% increased YoY while revenue on the commodity 209.4 43.6% market decreased YoY. 198.6 PLN mn +16.5%

  10. Slide 10: Financial results by quarter

    Financial results by quarter Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 62.4% 56.3% 58.9% 43.0% 40.9% 46.1% 52.7% 48.2% 35.9% 34.7% PLN mn -3.0% 116.1 PLN mn 111.3 101.2 -8.5% 98.1 PLN mn 89.2 65.3 4.1% 63.2 57.8 53.6 47.5 47.0 43.5 45.2 38.7 32.0 Q2’20 Q3’20 Q4’20 Q1’21

  11. Slide 11: Decrease of trading revenue on the financial market

    Decrease of trading revenue on the financial market Q2’21: 42,6%  Trading revenue on the financial market at PLN 41.8 mn in Trading revenue – financial market Q2’21 (-5.1% YoY, -21.4% QoQ). PLN mn  Average Main Market EOB equity turnover per session: -5.1% PLN 1.320.2 mn in Q2’21 vs. PLN 1,632.6 m

  12. Slide 12: YoY increase of listing revenue

    YoY increase of listing revenue Q2’21: 5,6% Listing revenue  Five new listings on the Main Market and eight new listings on NewConnect in Q2’21. PLM mn  IPO value (MM+NC) at PLN 463 mn in Q2’21 vs. PLN 1,775 mn in Q1’21 vs. PLN 24 mn in Q2’20.  SPO value (MM+NC) at PLN 583 mn in Q2’21 vs. +37.7%

  13. Slide 13: Steady increase of revenue from information services

    Steady increase of revenue from information services Q2’21: 14,5%  New GPW Group data agreements were signed in Q2’21 Revenue from information services: financial market and commodity market with users in different market segments: ✓ GPW data: 3 data vendors Market Data (commodity market) ✓ GPW dat

  14. Slide 14: Commodity market and TGE Group results

    1. GPW Group milestones and summary of trading on the financial market in Q2 2021 2. GPW Group financial results in Q2 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2021 4. Other financials 5. Appendix

  15. Slide 15: Commodity market turnover in Q2'21

    Commodity market turnover in Q2’21 Electricity and gas spot and forward turnover volume  Electricity market – Total electricity turnover volume in Q2’21 was 53.4 TWh (-15.1% YoY, +11.8% QoQ). Electricity (TWh) Natural gas (TWh) ✓ The spot turnover volume was 8.6 TWh (+1.4% YoY, -9.9% QoQ). 40.2 62.

  16. Slide 16: Revenue from the electricity, gas, and property rights markets

    Revenue from the electricity, gas, and property rights markets Q2’21: 18,4%  Decrease of revenue from trade in electricity in Q2’21 Trading revenue – commodity market to PLN 4.5 mn (-4.6% YoY) driven by a decrease of forward PLN mn turnover.  Increase of revenue from trade in gas in Q2’21 to PLN 3

  17. Slide 17: Revenue from clearing

    Revenue from clearing Q2’21: 11,4% Revenue from clearing PLN mn -1.4%  Decrease of revenue from clearing in Q2’21 12.7 13.0 11.4 to PLN 11.2 mn (-1.4% YoY). 11.2 -13.7% 9.6  Decrease of revenue from the operation of the Register of Certificates of Origin in Q2’21 to PLN 6.5 mn (-28.4% YoY) due to

  18. Slide 18: Other financials

    1. GPW Group milestones and summary of trading on the financial market in Q2 20 2. GPW Group financial results in Q2 2021 3. Summary of trading on the commodity market and financial results GK TGE w I kw. 2020 4. Other financials 5. Appendix

  19. Slide 19: Operating expenses in Q2'21

    Operating expenses in Q2’21  Cost/income ratio (C/I)2: 51.9% in Q2’21 vs. 43.6% Operating expenses: PLN 51.0 mn (+15.5% YoY, -22.5% QoQ) in Q2’20. PLN mn 65.8  Depreciation: PLN 8.6 mn in Q2’20 (-4.3% YoY, -1.3% QoQ). 57.5 0.1 14.2  Employee costs: PLN 26.5 mn in Q2’21 (+17.9% YoY, 50.8 51.0 8.8

  20. Slide 20: Share of profit of entities measured by the equity method in Q2'21

    Share of profit of entities measured by the equity method in Q2’21  Group’s share of profit of entities measured by the Share of profit of entities measured by the equity method equity method in Q1’21 at PLN 7.9 mn (+78.5% PLN mn PAR KDPW CG YoY, +46.7% QoQ).  The Group’s share of net profit of KD

  21. Slide 21: GPW Group's consolidated statement of financial position

    GPW Group’s consolidated statement of financial position PLN mn 30.06.2020 30.09.2020 31.12.2020 31.03.2021 30.06.2021 Non-current assets, including among others 573,4 579,7 592,1 601,8 599,5  Increase of assets as at 30 June Property, plant and equipment 95,6 93,4 97,3 94,9 92,8 2021 vs. 31 Decemb

  22. Slide 22: Appendix – Back-up slides

    Appendix – Back-up slides

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

    GPW Group consolidated statement of comprehensive income PLN mn Q2'20 Q1'21 Q2'21  YoY decrease in sales revenue in Q2’21 driven by an increase of Revenue 101,2 111,3 98,1 trading revenue on the financial market by 0.6% YoY i.e. by Financial market 60,9 72,7 61,2 PLN 0.3 mn to PLN 61.2 mn and a dec

  24. Slide 24: GPW Group consolidated statement of cash flows

    GPW Group consolidated statement of cash flows PLN mn 6 months period ended 30 June of 2021 2020  Positive cash flows from operating activities Total net cash flows from operating activities 84,4 138,6 in H1’21 decreased by PLN 54.2 mn YoY due Net profit of the period 83,9 72,8 Adjustments: 21,4 85

  25. Slide 25: GPW Group's revenue structure: 12 months ended 30 June 2021

    GPW Group’s revenue structure: incremental for 12 months ended 30 June 2021 GPW Group: PLN 414.8 mn incl. TGE Group: PLN 140.2 mn Other revenues (0,9%) 0,9% Market Data (commodity market) 0,2% Clearing 11,2% Commodity Register of Certicates of Origin Market: 33,8% 33,8% 5,5% Other 3,4% Trading - pro

  26. Slide 26: Financial market: Trade in equities

    Financial market: Trade in equities Equity turnover value and number of transactions Average number of transactions per session (thous.) 34,6%1 Value of trading in equities (PLN bn) 133,2 128,7 151,6 80,2 70,1 73,1 72,1 65,9 55,3 51,9 55,5 297 46,4 251 236 220 205 203 204 188 190 191 169 131 2011 20

  27. Slide 27: Financial market: Trade in derivatives

    Financial market: Trade in derivatives Derivatives turnover volume Number of open Interest (thous.) Volume (mn) 3,4%2 351,2 290,0  Revenue drivers: 184,8 171,2 182,0 15,5 165,0 137,2 138,1 140,1 143,6 132,8 ✓ Derivatives turnover volume 11,3 12,6 104,2 11,5 9,5 8,2 8,0 7,6 8,2 7,0 ✓ Number of open

  28. Slide 28: 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 2,8%1 1.037 1.062 307 845 450 767 1,5%2 347 327 599 535 260 413 407 196 731 147 282 612 255 225 498  Revenue drivers: 439 339 338 86 169 36 90 37 260

  29. Slide 29: Financial market: Listing

    Financial market: Listing Capitalisation of domestic companies Market Cap / GDP (%) Market Cap (PLN bn) 5,6%1 32,0% 36,5% 34,8% 34,8% 30,0% 30,0% 28,9% 27,9% 27,4% 25,0% 23,2%  Revenue drivers: 671 637 593 591 557 579 550 523 517 539 ✓ Capitalisation at YE 446 ✓ Value of new issue shares and 2011 2

  30. Slide 30: Financial and commodity market: Information services

    Financial and commodity market: Information services Number of data vendors Local 14,5%1 Remote 87 89 83 85 78 37 35 57 58 58 58 37 37 54 53 52 36 37 34 31  Revenue drivers: 37 30 28 27 50 48 54 42 46 ✓ Number of data vendors 20 21 24 27 24 25 25 ✓ Number of subscribers 2011 2012 2013 2014 2015 201

  31. Slide 31: Commodity market: Trade in electricity and gas

    Commodity market: Trade in electricity and gas Electricity turnover volume (TWh)1 Spot 243,2 7,7%2 Forward 226,1 228,9 34,8 27,7 33,9 186,8 186,7 176,6 23,8 25,1 22,3 129,4 gaz 139,4 130,8 126,7 17,0 21,3 111,7 21,7 27,7 101,1  Revenue drivers: 25,2 198,3 195,0 208,3 18,2 154,3 163,0 161,6 118,1 11

  32. Slide 32: Commodity market: Trade in property rights

    Commodity market: Trade in property rights Property rights spot turnover (TWh) Green certificates 2 7,2%1 Cogeneration 62,2 58,9 58,1 59,3 50,8 50,2 19,9 43,9 26,6 29,8 30,8 15,1 39,3 36,0 24,0 25,9 27,0  Revenue drivers: 21,8 42,4 32,1 35,7 14,7 14,4 32,3 ✓ Property rights turnover 26,2 28,3 28,5

  33. Slide 33: 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 6,6%1 Cogeneration 47,2 48,5 47,5 41,1 42,2 37,2 23,4 18,9 24,5 19,9 35,1 10,7 15,3 29,5 21,6  Revenue drivers: 21,0 22,3 11,9 14,3 28,3 27,6 12,2 ✓ Volume of issued property r

  34. Slide 34: IR events and Disclaimer

    IR events Disclaimer 16 September 2021 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its Publication of the consolidated interim report for H1 2021 shareholders, analysts, and other contractors. This presentati

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