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

Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q2 2022 Earnings Presentation

34 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, Aug 12, 2022

  1. Slide 1: Financial Results of the GPW Group Q2 2022

    FINANCIAL RESULTS OF THE GPW GROUP Q2 2022 12 August 2022

  2. Slide 2: Agenda

    1. Milestones and summary of trading on the financial market in Q2 2022 2. GPW Group financial results in Q2 2022 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2022 4. Other financials 5. Appendices

  3. Slide 3: GPW Group in 2Q 2022 - Key achievements and milestones

    GPW Group in 2Q 2022 - Key achievements and milestones Review of Implementation of GPW2022 Strategy with an external advisor Conclusion of a Share Purchase Agreement and Shareholders’ Agreement concerning the acquisition of a 65.03% stake in the Armenia Securities Exchange Dividend for 2021 • PLN 2.

  4. Slide 4: Investor activity

    Investor activity Main Market EOB turnover value  Main Market EOB turnover in Q2’22: PLN 64.9 bn (-13.4% YoY, -34.1% QoQ) 102.8  Average daily Main Market EOB turnover: PLN 1,072.7 mn EOB Trading Turnover velocity 98.4 90 ,0% in Q2’22 vs. PLN 1,593.7 mn in Q1’22 and vs. PLN 1,320.2 93.7 in Q2’21 1

  5. Slide 5: Growing turnover in derivatives

    Growing turnover in derivatives Derivatives turnover volume  Total derivatives turnover volume in Q2’22: 3.5 mn contracts (+26.7% YoY, - 11.4% QoQ) mn contracts +26.7%  WIG20 futures turnover volume in Q2’22: -11.4% 1.9 mn contracts (+36.9% YoY, -18.4% 4,0 QoQ) 3,4 3,5 3,3 3,1  Increase in curren

  6. Slide 6: ESG: Environmental, Social, Governance factors

    ESG: Environmental, Social, Governance factors E S G CONTRIBUTION TO ACHIEVING 17 SUSTAINABLE DEVELOPMENT GOALS 2030 Implementation of the GPW Group ESG Strategy 2025 • We have established the ESG Committee, which is an essential element of the ESG management structure in the GPW Group • Each of the

  7. Slide 7: GPW Group financial results in Q2 2022

    1. Milestones and summary of trading on the financial market in Q2 2022 2. GPW Group financial results in Q2 2022 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2022 4. Other financials 5. Appendices

  8. Slide 8: Financial performance in Q2'22

    Financial performance in Q2’22 Sales revenue Operating expenses  Sales revenue mn PLN C/I 62.4% 63.1% 62,8% -0.1% 55,8% Increase of revenue in Q2’22 by 1.2% YoY to PLN 99.1 mn. 52.1% Driven by lower revenue on the financial market (PLN 58.6 209,4 209,3 131,4 mn vs. PLN 61.0 mn) and higher revenue o

  9. Slide 9: Financial results by quarter

    Financial results by quarter Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 58.8% 53.6% 51.3% 46.0% 47.2% 46.0% 39.7% 38.5% mn PLN 34.5% 38.4% +1.2% 107,5 110,2 mn PLN 97,9 99,1 90,6 -18.8% mn PLN 57,6 55,2 -15.5% 48,6 50,7 46,8 45,1 41,4 36,0 38,1 38,1 Q2’21 Q3’21 Q4’21 Q1’

  10. Slide 10: Trading revenue on the financial market

    Trading revenue on the financial market Q2’22: 38.8% Trading revenue – financial market mn PLN  Trading revenue on the financial market: PLN 38.4 mn in Q2’22 (-8.1% YoY, -28.5% QoQ). -8.1% 53.7  Average fee on the stock market: 2.11 bps in Q2’22 (2.19 bps in Q2’21 vs. 2.11 bps in Q1’22). 47.4 -28.

  11. Slide 11: Listing revenue

    Listing revenue Q2’22: 5.6% Listing revenue  Listing revenue: PLN 5.6 mn in Q2’22 (+6.3% YoY, mn PLN -11.9% QoQ).  No new listings on the Main Market, four new listings on NewConnect in Q2’22.  Total IPO value (MM+NC) in Q2’22: PLN 14 mn vs. +6.3% 6.3 PLN 4,161 mn in Q2’21. 5.5 5.6 -11.9%  Total

  12. Slide 12: Record revenue from information services

    Record revenue from information services Q2’22: 15.1%  Revenue from information services (financial+commodity market): Revenue from information services: PLN 15.0 mn in Q2’22 (+5.5% YoY, +6.9% QoQ). financial market and commodity market  GPW data agreements were signed in Q2’22 with new users: ✓ o

  13. Slide 13: Commodity market and TGE Group financial results

    1. Milestones and summary of trading on the financial market in Q2 2022 2. GPW Group financial results in Q2 2022 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2022 4. Other financials 5. Appendices

  14. Slide 14: Commodity market turnover in Q2'22

    Commodity market turnover in Q2’22 Electricity and gas spot and forward turnover volume  Electricity market – total electricity turnover volume in Electricity (TWh) Natural Gas (TWh) Q2’22 was 36.6 TWh (-31.5% YoY, -13.1% QoQ). The spot turnover volume was 8.3 TWh (-4.4% YoY, -5.4% 64,2 62,2 61,8 Q

  15. Slide 15: Revenue from the electricity, gas, and property rights markets

    Revenue from the electricity, gas, and property rights markets  Decrease of revenue from trade in electricity in Q2’22 Q2’22: 19.8% to PLN 3.4 mn (-23.3% YoY, -10.1% QoQ) driven by a decrease of Trading revenue – commodity market turnover especially on the forward market. mn PLN  Decrease of reven

  16. Slide 16: Revenue from clearing

    Revenue from clearing Q2’22: 11.1% Revenue from clearing mn PLN  Decrease of revenue from clearing in Q2’22 to PLN 11.0 -2.0% mn (-2.0% YoY; -11.8% QoQ) driven by a decrease of 13,9 turnover in natural gas and electricity. 12,3 12,4 11,2 11,0 -11.8%  Increase of revenue from the operation of the R

  17. Slide 17: Other financials

    1. Milestones and summary of trading on the financial market in Q2 2022 2. GPW Group financial results in Q2 2022 3. Summary of trading on the commodity market and TGE Group financial results in Q2 2022 4. Other financials 5. Appendices

  18. Slide 18: Operating expenses in Q2'22

    Operating expenses in Q2’22  Cost/income ratio (C/I): 63.1% in Q2’22 vs. 52.1% in Q2’21  Depreciation and amortisation: PLN 9.5 mn in Q2’22 (+9.4% YoY, Operating expenses: PLN 62.5 mn (+22.6% YoY, -9.2% QoQ) -3.5% QoQ). The increase in depreciation and amortisation mn PLN 68.8 charges is mainly du

  19. Slide 19: Share of profit of entities measured by the equity method in Q2'22

    Share of profit of entities measured by the equity method in Q2’22 Share of profit of entities measured by the equity method mn PLN PAR KDPW CG -0.7%  Group’s share of profit of entities measured by the equity method in Q2’22 at PLN 7.8 mn 7.9 7.8 (-0.7% YoY, +71.3% QoQ). 5.9  The Group’s share of

  20. Slide 20: GPW Group's consolidated statement of financial position

    GPW Group’s consolidated statement of financial position PLN mn 30.06.2021 30.09.2021 31.12.2021 31.03.2022 30.06.2022  Increase of total assets as at 30 June 2022 Non-current assets, including among year to date mainly driven by an increase of 599.5 597.6 603.6 618.2 608.2 others cash and cash equ

  21. Slide 21: Appendix – Back-up slides

    Appendix – Back-up slides

  22. Slide 22: GPW Group consolidated statement of comprehensive income

    GPW Group consolidated statement of comprehensive income  Increase of sales revenue in Q2’22 by 1.2% YoY to PLN 99.1 PLN mn Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 mn driven by lower revenue on the financial market (PLN Revenue 97.9 90.6 107.5 110.2 99.1 58.6 mn zł vs. PLN 61.0 mn; -3.9% YoY) combined with F

  23. Slide 23: GPW Group consolidated statement of cash flows

    GPW Group consolidated statement of cash flows  The Group generated positive cash flows from PLN mn 6 months period ended 30 June of 2022 2021 Total net cash flows from operating activities 165.1 84.4 operating activities of PLN 165.1 mn (+PLN Net profit of the period 76.1 83.9 80.7 mn i.e. +95.6%

  24. Slide 24: KDPW Group's financial results

    KDPW Group’s financial results* mln zł Q1’21 Q1’22 2020 2021 The increase in the KDPW Group’s revenue from PLN Revenue 53,0 55,1 174,8 205,3 53.0 mn in Q2 2021 to PLN 55.1 mn in Q2 2022 was Operating expenses 30,8 34,6 122,8 126,5 driven by: Operating profit 22,2 20,5 52,0 78,8  Increase in revenue

  25. Slide 25: GPW Group's revenue structure: incremental for 12M ended June 2022

    GPW Group’s revenue structure: incremental for 12M ended 30 June 2022 GPW Group: PLN 407.4 mn incl. TGE Group: PLN 151.2 mn Market Data (commodity market) Other revenue (0.8%) 0,8% 0.3% Clearing 12.2% Register of Certificates of Origin Commodity Trading other Market: 6.2% 37.1% 37.1 4.2% Trading - p

  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.) 28.3%1 Value of trading in equities (PLN bn) 133.2 136.4 151.6 142.8 80.2 70.1 73.1 72.1 65.9 55.3 51.9 55.5 46.4 297 313 251 236 220 205 203 204 191 188 190 169 1

  27. Slide 27: Financial market: Trade in derivatives

    Financial market: Trade in derivatives Derivatives turnover volume Number of open interest (thous.) Volume (thous.) 4.5%2 406,6 351,2 342,9 290,0  Revenue drivers: 15,5 184,8 165,0 171,2 ✓ Derivatives turnover volume 132,8 137,2 12,6 11,3 138,1 140,1 143,6 11,5 12,0 9,5 104,2 8,2 8,0 7,6 8,2 7,5 7,

  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 2.9%1 1.037 1.062 307 845 450 767 3.1%2 347 327 599 260 413 535 407 474 196 64 731 147 282 270 612 255 225 498 86 169 32 439 410 37  Revenue drivers:

  29. Slide 29: Financial market: Listing

    Financial market: Listing Capitalisation of domestic companies Market Cap/GDP (%) Market Cap of local companies (PLN bn) 5.6%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 21.2% 593 591 557 579 550 555 523 517 539 ✓ Capitalisation at YE 446 ✓ Value of

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

    Financial and commodity market: Information services Number of data vendors Local 15.1%1 Remote 90 93 87 89 83 78 35 35 37 35 57 58 58 58 37 54 53 52 36 34 31  Revenue drivers: 37 37 30 28 27 55 54 58 46 50 42 ✓ Number of data vendors 20 21 24 27 24 25 25 ✓ Number of subscribers 2011 2012 2013 2014

  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 6.0%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 21.3 111.7 101.1 21.7 27.7 18,2  Revenue drivers: 25.2 198.3 195.0 208.3 188.9 78.6 154.3 163.0 161

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

    Commodity market: Trade in property rights Property rights spot turnover (TWh) Green certificates (OZE) 2 9.1%1 Cogeneration certificates 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 14,4 14,6 32.3 ✓ Property rights

  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 (OZE) 50.7 8.6%1 Cogeneration certificates 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 22.3  Revenue drivers: 11.9 21.0 19.6 12.2 13.3 ✓ Volume of iss

  34. Slide 34: IR events and Disclaimer

    IR events Disclaimer  26 October 2022 This presentation has been prepared by Giełda Papierów Wartościowych w Warszawie S.A. (“Warsaw Stock Exchange”, “GPW” or “Company”) for its Start of the closed period (limited communication with shareholders, analysts, and other contractors. This presentation h

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