Bolsas y Mercados Argentinos SA · BCBA:BYMA
Bolsas y Mercados Argentinos SA — Q2 2017 Earnings Presentation
12 slides from Bolsas y Mercados Argentinos SA's earnings presentation, Aug 7, 2017
Slide 1: 2Q17 Earnings Presentation
2Q17 Earnings Presentation Proforma statements August 7th
Slide 2: Key business drivers
Key business drivers Main drivers for Argentine Capital Market continued to show growth in 2Q17 ASSETS UNDER CUSTODY ARS Millions • +52% YoY 2.216.732 2.282.057 2.406.946 1.583.614 1.919.191 1.488.787 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 2Q 2017 • +5% QoQ ADV EQUITY ARS Millions 408 454 • +82% Yo
Slide 3: Quarterly Revenue Breakdown
Quarterly Revenue Breakdown Revenue was 13% better QoQ. Revenue grew across all business lines. Exchange others includes a YTD adjustment of Market Data Services (ARS 5,5 millions) BYMA (ARS Millions) 1Q 17 2Q 17 QoQ $ QoQ % Revenue Breakdown 2Q17 Total Revenue 266,0 299,7 33,7 13% ADC Services CSD
Slide 4: Yearly Revenue Evolution
Yearly Revenue Evolution Revenue increased 21% YoY thanks to growth of Exchange business lines and in spite of fee reduction at the CSD BYMA (ARS Millions) 2Q 16 2Q 17 YoY $ YoY % Total Revenue 248,6 299,7 51,0 21% ARS +51 M growth in revenue is explained mainly by: CSD (ARS Millions) 2Q 16 2Q 17 Yo
Slide 5: Quarterly Operating Expenses Breakdown
Quarterly Operating Expenses Breakdown Increase of 24% QoQ in total Operating Expenses mainly due Compensation (bonuses and severance), hiring of Consultants (programmers) and Armored car services (maturity of Bonar X) and Insurance ARS Millions 1Q 17 2Q 17 QoQ $ QoQ % Operating Expenses Breakdown 2
Slide 6: Yearly Operating Expenses Evolution
Yearly Operating Expenses Evolution Operating Expenses were mainly one-off´s, hiring of Consultants (programmers) and increase in volumes ARS Millions 2Q 16 2Q 17 YoY $ YoY % ARS +62,8 M change is explained mainly by: Compensations 83,4 116,3 33,0 40% • Several one off’s in Compensation (ARS 8 Milli
Slide 7: Operating and Non-operating Financial Income
Operating and Non-operating Financial Income Financial Income showed significant QoQ growth mainly due to FX change Quarterly Financial income BYMA (ARS Millions) 1Q 17 2Q 17 QoQ $ QoQ % Interest Income 159,2 190,0 30,8 19% Income due to FX change -36,5 94,8 131,2 3,6X Total Financial Income 122,8 2
Slide 8: Financial Income and Cash Balances Evolution
Financial Income and Cash Balances Evolution Financial income dropped only 1% YoY due to FX gains. Drop in interest rates partially offset by growth in ARS balances 400 398,8 Financial income – ARS millions 350 288,4 284,8 300 193 256,4 21 228,0 250 209,7 95 Interest Income 97 23 200 145,2 41 122,8
Slide 9: Operating Margin
Operating Margin BYMA’s operating margin (ex financial income) continues to increase. YTD margin of 34% is 3pp better than previous year. Goal is to achieve 50% by 2020 Operating Mg. Evolution – Rolling 12M Operating Margin 50% 50% 40% 30% 40% 30% 30% 31% 34% 20% 20% 10% 19% 19% 10% 0% 4Q15 1Q16 2Q1
Slide 10: Key Financial Figures
Key Financial Figures (in ARS millions except per share data) 2Q 2017 Operating Revenue CSD 221.800.079,6 EXCHANGE 77.877.907,7 Total Revenue 299.677.987,3 Operating Costs Total expenses 207.148.739,8 Other financial information Total Operating Income 92.529.247,4 Quarterly EPS 3,42 Operating Margin
Slide 11: Financials Efficiency Highlights
Key Take-aways Financials • Revenue: ARS 299,7m, +21% • Expenses: ARS 207,1m, +43% 2Q17 vs. 2Q16 • Financial income: ARS 284,8m, -1% • Earnings Before Taxes: ARS 389m, Efficiency • Operating margin: 34%, YTD. • BYMA began Market Data business line in 2Q17 • Slow growth in CSD ADC business line due t
Slide 12: Thank you
Thank you www.byma.com.ar 25 de Mayo 359 (C1002ABG) CABA Argentina Tel./Fax: (+54 11) 4316.6000
Bolsas y Mercados Argentinos S.A. (BYMA) — Q2 2017 Earnings Presentation on 6ix