B3 Sa - Brasil, Bolsa, Balcao · BMFBOVESPA:B3SA3
B3 Sa - Brasil, Bolsa, Balcao — B3 Sa - Brasil, Bolsa, Balcao — Q4 2024 Earnings Presentation
21 slides from B3 Sa - Brasil, Bolsa, Balcao's earnings presentation, Feb 21, 2025
Slide 1: 4Q24 Earnings Presentation
4Q24 Earnings Presentation Investor Relations
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: Highlights: Operational Performance
Highlights Operational Performance 4Q24 4Q24/4Q23 4Q24/3Q24 Listed - Equities ADTV (R$ millions) 25,592 5.5% 10.0% Equities Average Fee (bps) 3.082 -0.216 bps -0.266 bps ADV (thousands of contracts) 3,204 -5.6% 3.4% Stock Indices Average RPC (R$) 0.960 2.6% -0.2% ADV (thousands of contracts) 6,143 -
Slide 4: Highlights: Financial Performance
Highlights Financial Performance (R$ million) 4Q24 4Q24/4Q23 4Q24/3Q24 Total Revenues 2,667.8 7.0% -1.6% Listed 1,502.8 5.9% -6.1% OTC 436.3 9.4% 0.9% Infrastructure for financing 132.4 -13.5% -0.4% Technology, data and services 572.5 9.7% 4.7% Reversal of provisions 23.7 - - Net Revenues 2,399.2 7.
Slide 5: Diversified Business Model
Diversified Business Model Despite the still challenging environment for the cash equities market, the Company’s total revenue has shown resilient behavior, supported by multiple growth drivers Company’s Quarterly Revenue (in R$ million) 2,800 16.00 CAGR¹ 14.00 12% 2,400 12.00 2,000 79% 79% 80% 78%
Slide 6: Listed Equities
LISTED - Cash Equities and Equity Instruments | 32% of total revenues Listed Equities Results 4Q24 Revenue distribution (R$ million) HIGHLIGHTS 4Q24 / 4Q23: Decrease in trading and post-trading revenue explained by a lower 4Q24 (R$ million) Δ 4Q23 Δ 3Q24 margin on cash equities, primarily (i) due to
Slide 7: Interest Rates, FX and Commodities
LISTED DERIVATIVES | 25% of total revenues Interest Rates, FX and Commodities Results 4Q24 Revenue distribution (R$ million) HIGHLIGHTS 4Q24 / 4Q23: Increase of 16% in segment revenues reflecting the growth in revenues 4Q24 (R$ million) Δ 4Q23 Δ 3Q24 from FX Derivatives and Interest derivatives in U
Slide 8: OTC
OTC | 16% of total revenues OTC Results 4Q24 Revenue distribution (R$ million) HIGHLIGHTS 4Q24 / 4Q23: 4Q24 (R$ million) Δ 4Q23 Δ 3Q24 Fixed income instruments Increase of 9% in revenue: 436 +9% +1% i) Growth of 25% in the issuances of bank funding instruments; 436 ii) Growth of 26% in the debenture
Slide 9: Infrastructure for Financing
INFRASTRUCTURE FOR FINANCING | 5% of total revenues Infrastructure for Financing Results 4Q24 Revenue distribution (R$ million) HIGHLIGHTS 4Q24 / 4Q23: Reduction of 14%, explained by the end of the Desenrola program 4Q24 (R$ million) Δ 4Q23 Δ 3Q24 in 2Q24, partially offset by growth in the SNG. 132
Slide 10: Technology, Data and Services
TECHNOLOGY, DATA AND SERVICES | 21% of total revenues Technology, Data and Services Results 4Q24 Revenue distribution (R$ million) HIGHLIGHTS 4Q24 / 4Q23: Increase of 10% in segment revenue, explained by: 4Q24 (R$ million) Δ 4Q23 Δ 3Q24 573 +10% +5% i) Growth of 7% in the average number of customers
Slide 11: Adjusted Expenses (R$ million)
Adjusted Expenses1 (R$ million) Adjusted personnel2 Data processing Third-party services Others3 (+3%): annual adjustment of (+4%): intensification of cloud (+9%): non-recurring (-50%) salaries and medical assistance technology usage; acceleration in consultancy expenses in 4Q24 project delivery; an
Slide 12: Total Expenses (R$ million)
Total Expenses (R$ million) Personnel and charges Data processing Depreciation and Revenue-linked Others1 (+8.1%): annual (+20.1%): intensification of amortization expenses (-37.1%): provisions related to adjustment of salaries and cloud technology usage; (-64.6%): End of amortization (+44.0%): high
Slide 13: Financial Highlights: Financial Leverage and Debt Schedule
Financial Leverage and Debt Schedule Debt Amortization Schedule (R$ billion) Financial Highlights 13.3 11.3 Cash and Financial Investments (R$ million) 5,076 862 4,214 15,257 10,181 4Q24 2.0 5,410 893 4,516 16,568 11,159 3Q24 Short-term Long-term Total Debt Cetip Lux Loan Bond Debentures 4,952 971 3
Slide 14: Financial Highlights: Cash Generation and Destination
Financial Highlights Cash Destination – 2024 (R$ million) Cash Generation (R$ million) R$ million 2024 2023 Adj. net cash from operating activities¹ 6,321 5,591 3,157 2,913 (244) Net cash from investment activities² (47) 43 (1,616) Net cash from financing activities before (3,117) 1,134 distribution
Slide 15: Appendix
Appendix
Slide 16: Financial Statements: Adjusted Expenses
Financial Statements Adjusted Expenses (In R$ millions) 4Q24 4Q23 4Q24/4Q23 3Q24 4Q24/3Q24 Expenses (908.2) (1,072.8) -15.3% (831.1) 9.3% (+) Depreciation and amortization 103.3 279.9 -63.1% 99.7 3.6% (+) Long-term stock-based incentive program 54.5 39.8 36.9% 45.1 20.9% (+) Extraordinary expenses w
Slide 17: Financial Statements: Recurring EBITDA and Net Income
Financial Statements Recurring EBITDA (In R$ millions) 4Q24 4Q23 4Q24/4Q23 3Q24 4Q24/3Q24 EBITDA 1,594.3 1,449.3 10.0% 1,704.6 -6.5% (+) Extraordinary expenses related to contract terminations 25.6 - - - - (+) Other non-recurring revenues 10.3 - 1.7 - 1.2 (+) Reversal of provisions (23.4) - - - - Re
Slide 18: Return to Shareholders
Return to Shareholders Strategy to return most of the Company’s cash generation Return to Shareholders (R$ million and % of net income) 150% 130% 127% 140% 125% 122% 6,228 6,005 116% 120% 886 14% 5,281 5,311 1.288 21% 5,034 100% 1,194 3,538 1,083 80% 2,998 57% 2,493 50% 174 5% 3,696 70% 60% 1,559 86
Slide 19: Active Share Buyback Program
Active Share Buyback Program Since 2019, the Company has repurchased around 15% of its capital and canceled 751 million shares Shares issued, held in treasury, and canceled (in millions of shares, except the EPS) R$0.77 R$0.73 R$0.67 R$0.69 R$0.44 Cancellation Cancellation Cancellation 6,400 Mar/21:
Slide 20: Capital Structure
Capital structure Gross Debt Exposure (4Q24) Avg. Spread DI Rate - Debentures 2.09% 1.86% 1.77% 1.24% 0.93% 7% 28% 2020 2021 2022 2023 2024 64% Gross Debt & Financial Leverage 2.2x 2.0x 2.0x 14.0 1.8x 2.0x 12.0 10.0 1.1x 1.5x 14.3 14.0 8.0 6.0 12.1 13.4 1.0x 7.0 4.0 0.5x CDI Bond 2031 - 4,125% p.a.
Slide 21: TKS!
[B] 1s ot "
B3 Sa - Brasil, Bolsa, Balcao — Q4 2024 Earnings Presentation on 6ix