Gielda Papierow Wartosciowych W Warszawie S.a. · GPW:GPW
Gielda Papierow Wartosciowych W Warszawie — Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q1 2021 Earnings Presentation
34 slides from Gielda Papierow Wartosciowych W Warszawie's earnings presentation, May 28, 2021
Slide 1: Financial Results of the GPW Group Q1 2021
FINANCIAL RESULTS OF THE GPW GROUP Q1 2021 28 May 2021
Slide 2: Agenda
1. GPW Group milestones and summary of trading on the financial market in Q1 2021 2. GPW Group financial results in Q1 2021 3. Summary of trading on the commodity market and TGE Group financial results 4. Other financials 5. Appendix
Slide 3: Q1'21: Milestones
Q1’21: Milestones Revenue increased EBITDA increased Net profit increased to Recommended to PLN 112.3 mn to PLN 53.6 mn PLN 38.7 mn dividend payment of (+15.5% YoY) (+7.1% YoY) (+32.1% YoY) PLN 2.50 per share New listings* GPW as the European leader by Main Market increase in equity turnover in aver
Slide 4: Q1'21: Equity turnover in Europe
Q1’21: Equity turnover in Europe Change in EOB turnover: Q1’21 vs. Q1’20 [%] GPW 47,2% GPW - European leader of EOB equity turnover Luxembourg 33,6% Boerse Stuttgart 11,7% growth Nasdaq N & B 2,0% Sofia 0,3% Vienna -8,9% Athens -15,4% Prague -19,0% Deutsche Börse -19,4% Euronext -20,9% BME -27,6%
Slide 5: Continued strong investor activity on the cash market
Continued strong investor activity on the cash market Increase of Main Market EOB turnover value to PLN 93.7 bn in Q1’21 (+53.5% YoY, -8.8% QoQ) Main Market EOB turnover value 102,8 Increase of New Connect EOB turnover value to PLN 2.8 bn EOB Trading Turnover velocity in Q1’21 (+109.1% YoY, -47.
Slide 6: Strong activity on the derivatives market
Strong activity on the derivatives market Derivatives turnover volume mn +1,0% Derivatives turnover total volume: 3.1 mn 3,3 instruments in Q1’21 (+1.0% YoY, -5.5% 3,1 3,1 -5,5% QoQ) 2,7 2,3 WIG20 futures turnover volume in 2,0 1,7 1,6 1,7 Q1’21: 1.5 mn futures (-15.6% YoY, - 6.5% QoQ) single-
Slide 7: ESG: Environmental, Social, Governance factors
ESG: Environmental, Social, Governance factors Best Practice for GPW Listed Companies 2021: Exchange Supervisory Board approved a new code of corporate governance for GPW listed companies effective as of 1 July 2021 The new Best Practice covers ESG factors including climate, sustainable developm
Slide 8: GPW Group milestones and summary of trading on the financial market in Q1 2021
1. GPW Group milestones and summary of trading on the financial market in Q1 2021 2. GPW Group financial results in Q1 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q1 2021 4. Other financials 5. Appendix
Slide 9: YoY improvement of financial results
YoY improvement of financial results Sales revenue Sales revenue Operating expenses Increase of sales revenue in Q1’21 by PLN mn C/I 57.7% 59.5% 15.5% YoY to PLN 112.3 mn driven by +15.5% 49.7% higher revenue on the financial market. 115.9 112.3 PLN mn 19.2% -3.1% Operating expenses 97.2 66.8 In
Slide 10: Financial results by quarter
Financial results by quarter Sales revenue EBITDA and EBITDA margin Net profit and net profit margin 61.8% 55.6% 42.5% 40.3% 51.5% 53.2% 47.8% 36.2% 34.4% 30.1% PLN mn +15.5% 115.9 112.3 PLN mn 102.2 97.2 +7.1% PLN mn 88.4 64.4 63.2 +32.1% 53.6 50.0 47.0 43.5 46.7 38.7 29.3 32.0 Q1’20 Q2’20 Q3’20 Q4
Slide 11: YoY increase of trading revenue on the financial market
YoY increase of trading revenue on the financial market Q1’21: 47,3% Trading revenue – financial market Trading revenue on the financial market at PLN 53.2 mn in PLN mn Q1’21 (+28.1% YoY, -10.7% QoQ). +28.1% Average Main Market EOB equity turnover per session: 59.6 PLN 1,632.6 mn in Q1’21 vs. PL
Slide 12: Increase of listing revenue
Increase of listing revenue Q1’21: 5,6% Listing revenue Three new listings on the Main Market and six new listings PLN mn on NewConnect in Q1’21. IPO value (MM+NC) at PLN 1,775 mn in Q1’21 vs. PLN 9,542 mn in Q4’20 vs. PLN 3 mn in Q1’20. +16.3% SPO value (MM+NC) at PLN 278 mn in Q1’21 vs. 6.2
Slide 13: Stable revenue from information services
Stable revenue from information services Q1’21: 12,1% Revenue from information services: financial market and commodity market New GPW Group data agreements were signed in Q1’21 with users in different market segments: GPW data: 2 data vendors Market Data (commodity market) GPW data: 3 non-dis
Slide 14: Agenda: commodity market and TGE Group results
1. GPW Group milestones and summary of trading on the financial market in Q1 2021 2. GPW Group financial results in Q1 2021 3. Summary of trading on the commodity market and TGE Group financial results in Q1 2021 4. Other financials 5. Appendix
Slide 15: Commodity market turnover in Q1'21
Commodity market turnover in Q1’21 Electricity market – Total electricity turnover volume in Q1’21 was 47.7 TWh (-28.3% YoY, -21.4% QoQ). Electricity and gas spot and forward turnover volume The spot turnover volume was 9.6 TWh (+13.0% YoY, Electricity (TWh) Natural gas (TWh) +2.0% QoQ). The f
Slide 16: Revenue from the electricity, gas, and property rights markets
Revenue from the electricity, gas, and property rights markets Q1’21: 16,0% Trading revenue – commodity market PLN mn Decrease of revenue from trade in electricity in Q1’21 to PLN 3.9 mn (-18.6% YoY) driven by a decrease of forward turnover. -4.9% Decrease of revenue from trade in gas in Q1’21 t
Slide 17: Revenue from clearing
Revenue from clearing Q1’21: 11,6% Revenue from clearing PLN mn -0.8% Modest decrease of revenue from clearing in Q1’21 to PLN 13.1 12.7 13.0 11.4 +2.4% 13.0 mn (-0.8% YoY). 9.6 Increase of revenue from the operation of the Register of Certificates of Origin in Q1’20 to PLN 6.8 mn (+16.3% YoY) d
Slide 18: Agenda: other financials
1. GPW Group milestones and summary of trading on the financial market in Q1 2021 2. GPW Group financial results in Q1 2021 3. Summary of trading on the commodity market and TGE Group financial results w I kw. 20 4. Other financials 5. Appendix
Slide 19: Operating expenses in Q1'21
Operating expenses in Q1’21 Cost/income ratio (C/I)2: 59.5% in Q1’21 vs. 57.7% in Q1’20. Operating expenses: PLN 66.8 mn (+19.2% YoY, +16.1% QoQ) PFSA provisions: PLN 14.2 mn in Q1’21 vs. PLN 10.0 mn in PLN mn 66.8 Q1’20. 57.6 56.1 0.1 14.2 Depreciation: PLN 8.8 mn in Q1’20 (-10.0% YoY, +0.0%
Slide 20: Share of profit of entities measured by the equity method in Q1'21
Share of profit of entities measured by the equity method in Q1’21 Share of profit of entities measured by the equity method PLN mn PAR KDPW CG Group’s share of profit of entities measured by the equity method in Q1’21 at PLN 5.4 mn (+170.5% 5.4 YoY, 11.5% QoQ). 4.8 4.4 4.6 KDPW results: The G
Slide 21: GPW Group's consolidated statement of financial position
GPW Group’s consolidated statement of financial position PLN mn 31.03.2020 30.06.2020 30.09.2020 31.12.2020 31.03.2021 Non-current assets, including among others 587,8 577,4 579,7 588,8 601,8 Increase of assets as at 31 March Property, plant and equipment 98,2 95,6 93,4 97,3 94,9 2021 vs. 31 Decem
Slide 22: Appendix – Back-up slides
Appendix – Back-up slides
Slide 23: GPW Group consolidated statement of comprehensive income
GPW Group consolidated statement of comprehensive income PLN mn Q1'20 Q4'20 Q1'21 Revenue 97,2 115,9 112,3 YoY increase in sales revenue in Q1’21 driven by an Financial market 58,7 78,6 72,7 increase of trading revenue on the financial market by 23.8% YoY i.e. PLN 14.0 mn to PLN 72.7 mn. Trading 4
Slide 24: GPW Group consolidated statement of cash flows
GPW Group consolidated statement of cash flows PLN mn 3 months period ended 31 March of 2021 2020 Positive cash flows from operating activities Total net cash flows from operating activities 95,6 67,1 in Q1’21 increased by PLN 28.5 mn YoY Net profit of the period 38,7 29,3 driven by an increase of
Slide 25: GPW Group's revenue structure: incremental for 12 months ended 31 March 2021
GPW Group’s revenue structure: incremental for 12 months ended 31 March 2021 GPW Group: PLN 418.9 mn incl. TGE Group: PLN 144.2 mn Other revenue (1,1%) 1,1% Market Data (Commodity Market) 0,2% Clearing 11,1% Commodity Register of Certificates of Origin Market: 34,4% 34.4% 6,0% Trading other 3,3% Tra
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.) 169.5 39,7%1 Value of trading in equities (PLN bn) 133.2 112.2 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 93 61 2011 2012
Slide 27: Financial market: Trade in derivatives
Financial market: Trade in derivatives Derivatives turnover volume Number of open interest (thous.) Volume (mn) 343,4 3,4%2 290,0 Revenue drivers: 184,8 165,0 171,2 177,8 15,5 137,2 138,1 140,1 143,6 132,8 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
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 2,5%1 1.037 1.062 307 845 450 767 1,3%2 347 327 599 535 260 413 407 196 731 147 282 612 255 498 Revenue drivers: 439 339 338 86 169 36 112 260 197 6
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% 25.0% 24.3% 23.6% Revenue drivers: 671 593 591 557 579 550 569 523 517 539 Capitalisation at YE 446 Value of new issue
Slide 30: Financial and commodity market: Information services
Financial and commodity market: Information services Number of data vendors Local 12,1%1 Foreign 87 87 83 78 37 36 57 58 58 58 37 54 53 52 36 37 34 31 37 30 28 27 Revenue drivers: 46 50 51 42 Number of data vendors 20 21 24 27 24 25 25 Number of subscribers 2011 2012 2013 2014 2015 2016 2017 2
Slide 31: Commodity market: Trade in electricity and gas
Commodity market: Trade in electricity and gas Electricity turnover volume (TWh)1 Spot Forward 243.2 6,3%2 186.8 186.7 226.1 228.9 27.7 33.9 34.8 176.6 23.8 25.1 22.3 gaz 139.4 130.8 126.7 21.3 111.7 21.7 27.7 Revenue drivers: 25.2 198.3 195.0 208.3 154.3 163.0 161.6 66.6 118.1 8.5 47.7 Electric
Slide 32: Commodity market: Trade in property rights
Commodity market: Trade in property rights Property rights spot turnover (TWh) Green Certificates (OZE) 2 6,2%1 Cogeneration certificates 62.2 58.9 58.1 59.3 50.8 50.2 19.9 43.9 39.3 26.6 29.8 30.8 15.1 36.0 24.0 Revenue drivers: 25.9 27.0 21.8 42.4 32.1 35.7 Property rights turnover 32.3 26.2 2
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 6,1%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 Volume of issued property rights 2
Slide 34: IR events and disclaimer
IR events Disclaimer 27 May 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 Q1’21 shareholders, analysts, and other contractors. This presentation has
Giełda Papierów Wartościowych w Warszawie S.A. (GPW) — Q1 2021 Earnings Presentation on 6ix