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

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q4 2021 Earnings Presentation

36 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Mar 18, 2022

  1. Slide 1: Financial Results of the GPW Group Q4 2021

    FINANCIAL RESULTS OF THE GPW GROUP Q4 2021 18 March 2022

  2. Slide 2: 1. GPW Group milestones and summary of trading on the financial market in Q4

    1. GPW Group milestones and summary of trading on the financial market in Q4 2021 2. GPW Group financial results in Q4 2021 3. Summary of trading on the commodity market and TGE Group financial results 4. Other financials 5. Appendices

  3. Slide 3: GPW Group cumulative net profit 2002-2021

    GPW Group cumulative net profit 2002-2021 PLN mn GPW Group cumulative net profit 2002-2021 PLN mn 900 777 800 700 580 561 600 500 400 300 240 200 100 0 2002 - 2006 2007 - 2011 2012 - 2016 2017 - 2021 Average net profit PLN 48 mn PLN 116 mn PLN 112 mn PLN 155 mn 3

  4. Slide 4: GPW Group milestones 2021

    GPW Group milestones 2021 IPOs GPW Supporting liquidity 16 IPOs on the Main Market/ 32 IPOs on NC ✓ Analytical Coverage Support Programme 3.0 PLN 9.4 bn - IPO value on both markets Supporting brokers 4 IPOs worth more than PLN 1 bn each ✓ Technology Development Support Programme Supporting IPOs RECO

  5. Slide 5: Investor activity on the cash market

    Investor activity on the cash market  Main Market EOB turnover value in Q4’21: PLN 84.0 bn (-18.3% YoY, +38.0% QoQ) Main Market EOB turnover value  Main Market EOB turnover value in 2021: PLN 313.5 bn EOB Trading Turnover velocity 102,8 (+5.5% YoY) 90 ,0% 10 0 94,0 84,0 80 ,0% PLN bn 76,8% 75,0 70

  6. Slide 6: Growth of derivatives turnover

    Growth of derivatives turnover Derivatives turnover volume  Derivatives turnover total volume in Q4’21 up to 3.4 mn 3.1% mn instruments (+3.1% YoY, +28.2% QoQ) 3.4 ✓ Derivatives turnover total volume in 2021: 3.3 3.1 3.1 12.0 mn instruments (+4.3% YoY) 2.7 2.8 2.7 +28.2% 2.3  WIG20 futures turnove

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

    ESG: Environmental, Social, Governance factors GPW Group ESG Strategy2025 GPW Group supports transition GPW Group is a responsible and GPW Group has established to low-carbon economy. attractive employer. quality corporate governance GPW Group brings unique value to practices. education. AMBITIONS A

  8. Slide 8: ESG: Environmental, Social, Governance factors

    ESG: Environmental, Social, Governance factors GPW as a trade organiser: ➢ We have implemented the new Code of Best Practice 2021, which takes into account ESG aspects such as climate, sustainability, diversity in the corporate boaYoYoom and equal pay, among others. ➢ We have published the ESG Repor

  9. Slide 9: GPW Group milestones and summary of trading on the financial market in Q4 2021

    1. GPW Group milestones and summary of trading on the financial market in Q4 2021 2. GPW Group financial results in Q4 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q4 2021 4. Other financials 5. Appendices

  10. Slide 10: Record-high revenue in 2021

    Record-high revenue in 2021 Sales revenue Operating expenses  Sales revenue PLN mn C/I 58,8% 56,3% Sales revenue in Q4’21 down by 7.6% YOY to PLN 107.5 +0.9% 51,0% mn; sales revenue in 2021 up by 0.9% YoY to record-high 48,0% PLN 407.6 mn (driven by an increase of revenue on the 404.0 407.6 +11.3%

  11. Slide 11: Financial results by quarter

    Financial results by quarter Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 56.2% 58.9% 53.6% 48.2% 51.3% 46.1% 40.9% 39.7% 38.5% PLN mn 34.7% -7.6% 116.3 PLN mn 111.3 107.5 98.1 -15.6% PLN mn 90.6 65.3 -13.1% 57.8 55.2 53.6 47.6 48.6 45.2 38.7 41.4 36.0 Q4’20 Q1’21 Q2’21 Q3

  12. Slide 12: Trading revenue on the financial market

    Trading revenue on the financial market Q4’21: 44,1% Trading revenue – financial market PLN mn  Trading revenue on the financial market: PLN 47.4 mn in -19.4% Q4’21 (-19.4% YoY, +33.4% QoQ). Revenue in 2021: PLN 58.8 177.9 mn vs. PLN 185.3 mn in 2020 (-4.0% YoY) 53.2 47.4  Average fee on the stock

  13. Slide 13: Listing revenue

    Listing revenue Q4’21: 4,0%  Listing revenue: PLN 4.3 mn in Q4’21 (-29.5% YoY, -20.9% Listing revenue QoQ). Revenue in 2021: PLN 21.6 mn vs. PLN 20.3 mn (+6.4% YoY) PLN mn  Five new listings on the Main Market and 10 new listings on NewConnect in Q4’21. 16 new listings on the Main Market and 32 ne

  14. Slide 14: Record revenue from information services

    Record revenue from information services  Revenue from information services: PLN 14.9 mn in Q4’21 (+6.2% Q4’21: 13,9% Revenue from information services: YoY, +11.8% QoQ). Revenue in 2021: PLN 56.3 mn vs. PLN 52.4 financial market and commodity market mn in 2020 (+7.5% YoY).  New GPW Group data agr

  15. Slide 15: GPW Group milestones and summary of trading on the financial market in Q4 2021

    1. GPW Group milestones and summary of trading on the financial market in Q4 2021 2. GPW Group financial results in Q4 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q4 2021 4. Other financials 5. Appendices

  16. Slide 16: Commodity market turnover in Q4'21

    Commodity market turnover in Q4’21 Electricity and gas spot and forward turnover volume  Electricity market – Total electricity turnover volume in Q4’21 Electricity (TWh) Natural gas (TWh) was 61.8 TWh (+1.8% YoY, -0.6% QoQ). The spot turnover volume was 8.5 TWh (-9.7% YoY, -10.8% QoQ). The forward

  17. Slide 17: Revenue from the electricity, gas, and property rights markets

    Revenue from the electricity, gas, and property rights markets Q4’21: 19,0%  Increase of revenue from trade in electricity in Q4’21 Trading revenue – commodity market to PLN 5.4 mn (+1.6% YoY) driven by an increase of turnover on the forward market. PLN mn  Increase of revenue from trade in gas in

  18. Slide 18: Revenue from clearing

    Revenue from clearing Q4’21: 12,9% Revenue from clearing  Increase of revenue from clearing in Q4’21 to PLN 13.9 PLN mn mn from PLN 12.3 mn in Q3’21 (+9.6% YoY) driven +9.6% mainly by an increase of turnover in RES property rights 13.9  Increase of revenue from the operation of the Register of 12.

  19. Slide 19: GPW Group milestones and summary of trading on the financial market in Q4 2021

    1. GPW Group milestones and summary of trading on the financial market in Q4 2021 2. GPW Group financial results in Q4 2021 3. Summary of trading on the commodity market and TGE Group financial results 4. Other financials 5. Appendices

  20. Slide 20: Operating expenses and financial costs in Q4'21

    Operating expenses and financial costs in Q4’21  Cost/income ratio (C/I): 58.8 in Q4’21 vs. 48.0% in Q4’20 Operating expenses: PLN 63.2 mn (+13.1% YoY, +27.8% QoQ)  Depreciation: PLN 9.2 mn in Q4’21 (+4.8% YoY, +5.8% QoQ). PLN mn 65.8 63.2  Total employee costs: PLN 32.3 mn in Q4’21 (+13.2% YoY,

  21. Slide 21: Share of profit of entities measured by the equity method in Q4'21

    Share of profit of entities measured by the equity method in Q4’21  Group’s share of profit of entities measured Share of profit of entities measured by the equity method by the equity method in Q4’21 was PLN 5.2 mn (+8.7% YoY, -12.0% QoQ). The share in PLN mn PAR KDPW CG 2021 was PLN 24.4 mn vs. P

  22. Slide 22: GPW Group's consolidated statement of financial position

    GPW Group’s consolidated statement of financial position PLN mn 31.12.2020 31.03.2021 30.06.2021 30.09.2021 31.12.2021  The increase in total assets as at Non-current assets, including among others 592,1 601,8 599,5 597,6 603,6 31 December 2021 vs. 31 Property, plant and equipment 97,3 94,9 92,8 90

  23. Slide 23: Appendix – Back-up slides

    Appendix – Back-up slides

  24. Slide 24: GPW Group consolidated statement of comprehensive income

    GPW Group consolidated statement of comprehensive income PLN mn 2020 2021 Q4'20 Q4'21  YoY increase in sales revenue in 2021 driven by an Revenue 404,0 407,6 116,3 107,5 increase of trading revenue on the commodity market Financial market 256,9 254,7 78,8 66,3 by 3.9% YoY i.e. by PLN 5.7 mn to PLN

  25. Slide 25: GPW Group consolidated statement of cash flows

    GPW Group consolidated statement of cash flows PLN mn 12 months period ended 31 December of 2021 2020  Positive cash flows from operating activities in Total net cash flows from operating activities 53,1 231,4 2021 decreased by PLN 177.3 mn YoY driven Net profit of the period 161,3 152,3 Adjustment

  26. Slide 26: KDPW Group: financial results

    KDPW Group: financial results* PLN mn Q4'20 Q4'21 2020 2021 The increase in the KDPW Group’s revenue from PLN 174.8 million in 2020 to PLN 205.3 million in Revenue 53.7 49.0 174.8 205.3 2021 was driven by: Operating expenses 38.2 35.8 122.8 126.5 Operating profit 15.6 13.2 52.0 78.8  Increase of re

  27. Slide 27: GPW Group's revenue structure: incremental for 12M ended December 2021

    GPW Group’s revenue structure: incremental for 12M ended 31 December 2021 GPW Group: PLN 407.6 mn incl. TGE Group: PLN 150.0 mn Other (0,7%) Market data (commodity market) 0,7% 0,3% Clearing 12,4% Register of Certificates of Origin Commodity Market: Trading - other 36,8% 5,8% 36,8% 3,8% Trading - pr

  28. Slide 28: 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) 133,2 136,4 159,0 137,6 80,2 70,1 73,1 72,1 65,9 55,3 51,9 55,5 46,4 297 313 251 236 220 205 203 204 191 188 190 103 8

  29. Slide 29: Financial market: Trade in derivatives

    Financial market: Trade in derivatives Derivatives turnover volume Number of open interest (thous.) Volume (thous.) 3,4%2 406,6 406,6 290,0 290,0  Revenue drivers: 15,5 184,8 165,0 171,2 137,2 12,6 ✓ Derivatives turnover volume 132,8 11,3 138,1 140,1 143,6 11,5 12,0 9,5 104,2 8,2 8,0 7,6 8,2 7,0 ✓

  30. Slide 30: 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 2,3%1 1.037 1.062 307 845 450 767 3,5%2 347 327 599 535 474 260 413 407 64 196 731 147 282 612 255 498  Revenue drivers: 439 339 338 86 169 36 410 10

  31. Slide 31: Financial market: Listing

    Financial market: Listing Capitalisation of domestic companies Market Cap / GDP (%) Market Cap of local companies (PLN bn) 4,0%1 32,0% 36,5% 34,8% 34,8% 30,0% 30,0% 28,9% 27,9% 27,2% 25,0% 23,6%  Revenue drivers: 671 701 593 591 557 579 550 523 517 539 ✓ Capitalisation at YE 446 ✓ Value of new issu

  32. Slide 32: Financial and commodity market: Information services

    Financial and commodity market: Information services Number of data vendors Local 13,9%1 Remote 87 90 83 78 35 37 57 58 58 58 37 54 53 52 36 37 34 31  Revenue drivers: 37 30 28 27 50 55 42 46 ✓ Number of data vendors 20 21 24 27 24 25 25 ✓ Number of subscribers 2011 2012 2013 2014 2015 2016 2017 20

  33. Slide 33: Commodity market: Trade in electricity and gas

    Commodity market: Trade in electricity and gas Electricity turnover volume (TWh)1 Spot 243,2 8,4%2 Forward 226,1 228,9 225,2 34,8 27,7 33,9 36,2 186,8 186,7 176,6 23,8 25,1 22,3 gaz 139,4 130,8 126,7 21,3 111,7 21,7 27,7  Revenue drivers: 25,2 198,3 195,0 208,3 188,9 154,3 163,0 161,6 60,7 61,8 ✓ E

  34. Slide 34: Commodity market: Trade in property rights

    Commodity market: Trade in property rights Property rights spot turnover (TWh) Green certificates (OZE) 6,3%1 Cogeneration certificates 2 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 25,9 42,4 32,1 35,7 32,3 ✓ Property rights turnover 2

  35. Slide 35: Commodity market: Register of Certificates of Origin

    Commodity market: Register of Certificates of Origin Volume of issued certificates of origin (TWh) 50,7 5,2%1 OZE 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 19,6 ✓ Volume of issued property rights 26,6 25,9 27,3 28,3 27,6

  36. Slide 36: IR events

    IR events Disclaimer  17 March 2022 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its Publication of GPW’s annual report and GPW Group’s shareholders, analysts, and other contractors. This presentation has bee

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