B3 Sa - Brasil, Bolsa, Balcao · BMFBOVESPA:B3SA3
B3 Sa - Brasil, Bolsa, Balcao — B3 Sa - Brasil, Bolsa, Balcao — Q2 2025 Earnings Presentation
23 slides from B3 Sa - Brasil, Bolsa, Balcao's earnings presentation, Aug 8, 2025
Slide 1: 2Q25 Earnings Presentation
2Q25 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 2Q25 2Q25/2Q24 2Q25/1Q25 Market - Derivatives ADV (thousands of contracts) 11,821 -2.9% 6.2% General Average RPC (R$) 1.162 3.0% -4.7% OTC Derivatives Outstanding volume (R$ bn) 7,983 22.6% 1.1% Market – Equities ADTV (R$ millions) 26,067 9.2% 9.4% Equities Margin
Slide 4: Highlights - Financial Performance
Highlights Financial Performance (R$ million) 2Q25 2Q25/2Q24 2Q25/1Q25 1S25 1S25/1S24 Total Revenues 2,745.8 0.7% 3.3% 5,403.0 4.0% Markets 1,866.6 0.4% 4.7% 3,649.9 3.7% Capital Markets Solutions 159.8 2.5% 1.8% 316.7 4.2% Data Analytics Solutions 258.3 1.1% 0.0% 516.7 1.7% Technology and Plataform
Slide 5: Derivatives
Derivatives 33% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 893 -6% 1% The ADV totaled 11.8 million contracts, 3% below 2Q24, explained by decrease in interest volumes in BRL and Stock Indices, partially offset by the growth of Bitcoin Futures and the launch
Slide 6: Equities
Equities 21% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 565 0% 11% Revenue from trading and post-trading for stocks in line with 2Q24, with a 9% increase in ADTV, partially offset by a lower margin in the equity market Turnover closed the quarter at 143%, h
Slide 7: Fixed Income and Credit
Fixed Income and Credit 12% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 329 +15% +4% Growth in revenues from banking instruments, which showed an 11% increase in issuances and a 14% increase in the Outstanding Balance. In other instruments, highlights includ
Slide 8: Securities Lending
Securities Lending 3% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 80 +30% +6% The average open position grew by 19%, and the average lender rate increased by 40 bps, both influenced by greater volatility in the period 75 80 61 66 61 2Q24 3Q24 4Q24 1Q25 2Q25
Slide 9: Capital Markets Solutions
Capital Markets Solutions 6% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 160 +3% +2% Increase of 3% revenue in Data for Capital Markets, mainly due to higher revenue from DataWise+, a product with detailed analysis of investors and participants in all listed
Slide 10: Data Analytics Solutions
Data Analytics Solutions 9% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 258 +1% 0% A decrease of 9% in revenue of Vehicles and Real Estate, explained mainly by the comparison with 2Q24, when there was an impact from non-recurring revenues from the Desenrola
Slide 11: Technology and Platforms
Technology and Plataforms 17% of the total revenue Revenues (R$ million) 2Q25 Δ 2Q24 Δ 1Q25 HIGHLIGHTS 2Q25 / 2Q24: 461 +13% 0% In Technology, a 10% increase, reflecting the increase in the number of clients in the OTC segment, annual inflation adjustments in the Monthly Utilization line and technol
Slide 12: Adjusted Expenses (R$ million)
Adjusted Expenses1 (R$ million) Adjusted personnel2 Data processing Third-party services Others3 (+10%): annual adjustment of (+19%): Project scheduling; (+7%): non-recurring consultancy (+5%) salaries; impacts from the intensification of cloud expenses acquisitions of Neoway and technology usage; a
Slide 13: Total Expenses (R$ million)
Total Expenses (R$ million) Personnel and charges Data processing Revenue-linked Others1 (+8%): annual adjustment of salaries; (+19%): Project scheduling; expenses (+20%) Increase with strategic impacts from the acquisitions of intensification of cloud (+50%): higher amount of the consultancies and
Slide 14: Financial Highlights
Financial Highlights Cash and Financial Investments (R$ million) Debt Amortization Schedule (R$ billion) 14.3 14.6 4,277 648 3,628 17,038 12,762 2Q25 4,373 701 3,671 16,607 12,234 1Q25 0.3 Short-term Long-term Total Debt 6,284 838 5,446 16,881 10,597 2Q24 Cetip Lux Loan Bond Debentures Third-party T
Slide 15: Financial Highlights - Cash Generation and Destination
Financial Highlights Cash Destination – 6M25 (R$ million) Cash Generation (R$ million) R$ million 6M25 6M24 Adj. net cash from operating activities¹ 3,237 3,067 Net cash from investment activities² (12) 4 Net cash from financing activities before 1,030 (2,499) distributions³ Cash generation (before
Slide 16: Appendix
[By Appendix
Slide 17: Diversified Business Model
Diversified Business Model Company’s Quarterly Revenue (in R$ million) 2,800 2,644 2,746 16.00 2,569 CAGR¹ 2,454 2,493 2,432 4% 14.00 2,400 2,118 12.00 79% 2,000 79% 79% 80% 81% 78% 78% 74% 72% 77% 76% 77% 10.00 70% 73% 1,600 66% 69% 70% Avg. Selic (%) Revenue (R$) 66% 64% CAGR¹ 65% 8.00 10% 65% 1,2
Slide 18: Financial Statements - Adjusted Expenses
Financial Statements Adjusted Expenses (In R$ millions) 2Q25 2Q24 2Q25/2Q24 1Q25 2Q25/1Q25 Expenses (828.5) (927.1) -10.6% (908.2) -8.8% (+) Depreciation and amortization 96.8 88.8 9.0% 97.5 -0.7% (+) Long-term stock-based incentive program 34.5 35.3 -2.3% 51.5 -33.0% (+) Provisions (recurring and n
Slide 19: Financial Statements - Recurring EBITDA and Net Income
Financial Statements Recurring EBITDA (In R$ millions) 2Q25 2Q24 2Q25/2Q24 1Q25 2Q25/1Q25 EBITDA 1,794.8 1,816.8 -1.2% 1,657.0 8.3% (+) Other non-recurring revenues 1.5 (4.4) -134.9% 3.2 -51.3% (+) Reversal of provisions (75.3) (43.2) 74.1% - - Recurring EBITDA 1,721.1 1,769.1 -2.7% 1,660.2 3.7% Rec
Slide 20: Return to Shareholders
Return to Shareholders Return to Shareholders (R$ million) 2,267 1505 1,367 -56% 661 573 706 +23% 190 6M24 6M25 Dividends IoC Buybacks
Slide 21: Active Share Buyback Program
Active Share Buyback Program Since 2019, the Company has repurchased around 16% of its capital Shares issued, held in treasury, and canceled (in millions of shares, except the EPS) R$0.84 R$0.77 R$0.73 R$0.67 R$0.69 R$0.44 Cancellation Cancellation Cancellation Cancellation R$0.21 R$0.25 Mar/21: Mar
Slide 22: Capital structure
Capital structure Gross Debt Exposure Avg. Spread DI Rate - Debentures 1.86% 1.77% 1.24% 0.93% 0.78% 0.78% 6% 23% 2021 2022 2023 2024 1Q25 2Q25 71% Gross Debt & Financial Leverage 2.2x 2.2x 2.2x 2.0x 2.0x 1.8x 14.00 02x 12.00 10.00 02x 14.3 14.9 14.4 8.00 14.0 13.4 12.1 01x 6.00 4.00 01x CDI Bond 20
Slide 23: TKS!
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