Financial Results BME 1H2013. Source: BME

Download Financial Results BME 1H2013. Source: BME

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  • 1.- 1 - July 2013 Business Evolution January June 2013 Business Performance First Half 2013

2. - 2 - July 2013 Business Evolution January June 2013 Disclaimer THIS INFORMATION IS STRICTLY CONFIDENTIAL AND IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION. IT MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON, AND IT MAY NOT BE PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE. BY RECEIVING THIS INFORMATION, YOU BECOME BOUND BY THE ABOVE-REFERRED CONFIDENTIALITY OBLIGATION. FAILURE TO COMPLY WITH SUCH CONFIDENTIALITY OBLIGATION MAY RESULT IN CIVIL, ADMINISTRATIVE OR CRIMINAL LIABILITIES. NEITHER THIS INFORMATION NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED INTO, DISCLOSED OR DISTRIBUTED IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THE DISTRIBUTION OF THIS INFORMATION IN OTHER JURISDICTIONS MAY ALSO BE RESTRICTED BY LAW AND PERSONS INTO WHOSE POSSESSION THIS INFORMATION COMES SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTIONS. THIS INFORMATION DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER FOR SALE OR SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR COMMITMENT TO PURCHASE SHARES. THE INFORMATION CONTAINED IN THIS DOCUMENT HAS BEEN PROVIDED BY BME. 3. - 3 - July 2013 Business Evolution January June 2013 Index A. Results B. Business Overview C. Financials D. Business Drivers 4. - 4 - July 2013 Business Evolution January June 2013 Index A. Results B. Business Overview C. Financials D. Business Drivers 5. - 5 - July 2013 Business Evolution January June 2013 38,5 31,0 30,4 33,0 39,0 2Q12 3Q12 4Q12 1Q13 2Q13 Results Net profit Net profit increase of 1.3% (+18.3% compared to 1Q13) + 1.3% ( Million) + 18.3% 6. - 6 - July 2013 Business Evolution January June 2013 Solid operating leverage Costs Revenues Revenues not linked to volumes Ratio 78% 90% 106% 109% 105% 103% 112% 118% 112% 2005 2006 2007 2008 2009 2010 2011 2012 1H13 7. - 7 - July 2013 Business Evolution January June 2013 Key ratios benchmarking Efficiency ROE - BME s data as of 30/06/2013 - Average peer Group figures are calculated using last results published and not taking account of goodwill impairment charges 35.6% 14.5% BME Average Peer Group 33.1% 48.6% BME Average Peer Group 8. - 8 - July 2013 Business Evolution January June 2013 Dividends: Maximizing shareholders returns Pay-out Dividend proposal: maintenance of dividend/share Proposed interim dividend: 0.4 /share September 9th 0.956 0.986 0.40 0.40 0.40 0.40 0.40 0.60 0.60 0.60 0.60 1.016 0.986 0.60 0.60 0.60 0.60 0.372 0.372 0.372 0.372 2007 2008 2009 2010 2011 2012 2013 Primer Dividendo a Cuenta Segundo Dividendo a Cuenta Dividendo Complementario Dividendo Extraordinario 1.972Dividendo Total/Accin Pay Out 86% Dividendo Total/Accin Pay Out 82% 86% 89% 86% 1.972 1.972 1.9721.972 1.972 98% 9. - 9 - July 2013 Business Evolution January June 2013 Index A. Results B. Business Overview C. Financials D. Business Drivers 10. - 10 - July 2013 Business Evolution January June 2013 Business Areas Consolidated Revenues 1H 2013 - % EBITDA 1H 2013 - % Equity 35.7% Clearing& Settlement 28.6% Listing 6.6% Information 10.8% Derivatives 9.0% Fixed Income 3.0% IT & Consulting 6.2% Equity 35.4% Clearing& Settlement 33.7% Listing 5.1% Information 11.7% Derivatives 7.3% Fixed Income 2.8% IT & Consulting 3.9% 11. - 11 - July 2013 Business Evolution January June 2013 199 154 170 162 165 58.5 45.1 47.0 48.7 48.2 13.5 8.8 7.1 10.2 10.6 2Q12 3Q12 4Q12 1Q13 2Q13 Milesdemillones 66 70 63 71 34 49 70 42 57 68 42 52 58 48 59 25.7 15.1 17.6 29.7 6.4 9.0 28.2 7.6 11.2 28.2 8.4 12.1 27.5 9.5 11.1 4.6 4.8 4.1 4.0 2.3 2.5 2.7 2.3 2.1 3.3 3.5 3.4 3.9 3.2 3.5 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 2/13 3/13 4/13 5/13 6/13 Equity Market Equity (Turnover, volume and shares traded) Turnover ( Bill.) Shares (Bill.) Trades (Mill.) Turnover ( Bill.) Shares (Bill.) Trades (Mill.) Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 26,284 29,909 -12.1% 54,215 60,093 -9.8% Expenses (7,799) (7,985) -2.3% (15,802) (16,200) -2.5% EBITDA 18,485 21,924 -15.7% 38,413 43,893 -12.5% 12. - 12 - July 2013 Business Evolution January June 2013 1,584 1,571 1,590 1,593 1,579 474 498 528 530 537 2Q12 3Q12 4Q12 1Q13 2Q13 Nominal registered in Fixed income Market value registered in Equity 2,1162,058 2,069 2,118 2,123 14.0 10.7 10.6 10.4 11.6 2Q12 3Q12 4Q12 1Q13 2Q13 Securities under custody: Volumes ( Billion) Clearing and Settlement Sequential recovery in number of trades settled and market value registered in equity Settlement: Number of trades settled (Million of trades) Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 24,859 21,854 13.8% 43,465 41,382 5.0% Expenses (3,552) (3,751) -5.3% (6,932) (7,211) -3.9% EBITDA 21,307 18,103 17.7% 36,533 34,171 6.9% 13. - 13 - July 2013 Business Evolution January June 2013 105 100 97 94 92 3.5 4.0 4.0 3.6 3.8 2Q12 3Q12 4Q12 1Q13 2Q13 Subscribers (Thous.) P.Quote (Mill.) Market Data & Information Information: Primary market sources (Average for the period in thousands of subscribers and millions of accesses per quote) Recovery of income over the previous quarters Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 8,351 8,701 -4.0% 16,443 17,557 -6.3% Expenses (1,850) (1,846) 0.2% (3,725) (3,697) 0.8% EBITDA 6,501 6,855 -5.2% 12,718 13,860 -8.2% 14. - 14 - July 2013 Business Evolution January June 2013 5,213 7,909 8,675 7,977 11,363 2Q12 3Q12 4Q12 1Q13 2Q13 Companies find in the market the mean to adjust debt and reinforce their balances Investment flows channeled to the Exchange ( Million) 2013 continued with strong levels of activity in flows channeled to the exchange: 19.3 billion in 1H13 (+59.9%) and 11.4 billion in 2Q13 (+118.0%) Scrip dividends totalled 2.4 billion in 2Q13 and 5.0 billion in 1H13 (+22.8% yoy) According to data provided by the world Federation Exchange (WFE), total amount of flows channeled through the exchange places BME as one of the main European and worldwide exchange in terms of source of financing for companies Source: FESE (Federation of European Stock Exchanges) Listing 15. - 15 - July 2013 Business Evolution January June 2013 2Q12 3Q12 4Q12 1Q13 2Q13 29.8 69.9 85.1 45.0 81.6 Listing AIAF: New listings ( Billion) Commercial paper Corporate bonds MBS ABS Prefered securities Issuers efforts in deleverage has result in a reduction in Private Fixed Income listings Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 5,011 5,375 -6.8% 10,047 11,466 -12.4% Expenses (2,257) (2,314) -2.5% (4,567) (4,629) -1.3% EBITDA 2,754 3,061 -10.0% 5,480 6,837 -19.8% 16. - 16 - July 2013 Business Evolution January June 2013 6,358 3,421 13,446 7,621 8,269 5,959 17,714 12,664 2Q12 2Q13 1H12 1H13 1,683 1,510 2,705 2,748 954 512 1,450 9881,058 1,145 1,540 2,423 2Q12 2Q13 1H12 1H13 Derivatives (Thousand of contracts) Sustained revenues compared to a demanding quarter Stock derivatives contracts tradedIndex derivatives contracts traded IBEX 35 Futures MiniIBEX 35 Futures IBEX 35 Options Stock Futures Stock Options (Thousand of contracts) Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 6,815 7,157 -4.8% 13,616 12,608 8.0% Expenses (2,735) (2,899) -5.7% (5,658) (5,812) -2.6% EBITDA 4,080 4,258 -4.2% 7,958 6,796 17.1% 17. - 17 - July 2013 Business Evolution January June 2013 379 496 666 340 258 120 75 76 67 92 315,511 234,387 419,409 119,135 395,102 2Q12 3Q12 4Q12 1Q13 2Q13 350 742 499 407 571 2Q12 3Q12 4Q12 1Q13 2Q13 407 350 499 571 742 Fixed income Improved revenue by the effect of the number of trades AIAF Turnover (Billion ) Repo Cash TradesMBS& ABS Commercial paper Corporate bonds Preferred securities Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 2,502 2,403 4.1% 4,580 5,308 -13.7% Expenses (748) (773) -3.2% (1,515) (1,527) -0.8% EBITDA 1,754 1,630 7.6% 3,065 3,781 -18.9% 18. - 18 - July 2013 Business Evolution January June 2013 IT & Consulting Trading support Infrastructure Financial reporting (Highway) and regulatory compliance services International consultancy services Proximity/colocation MaX terminals (Automatic SEND quoting, Risk control, PairsSelect) Swift engine and Highway for business activities Confidence Net for CIIs and ESIs Alternative debt market project in Mexico Algerian public debt market modernisation Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 4,945 4,184 18.2% 9,374 8,286 13.1% Expenses (2,643) (2,671) -1.0% (5,092) (5,289) -3.7% EBITDA 2,302 1,513 52.1% 4,282 2,997 42.9% 19. - 19 - July 2013 Business Evolution January June 2013 Breakdown by business areas Thousand 1H 2013 1H 2012 % 1H 2013 1H 2012 % Equity Market 54,215 60,093 -9.8% 38,413 43,893 -12.5% Clearing & Settlement 43,465 41,382 5.0% 36,533 34,171 6.9% Listing 10,047 11,466 -12.4% 5,480 6,837 -19.8% Market Data & Information 16,443 17,557 -6.3% 12,718 13,860 -8.2% Derivatives 13,616 12,608 8.0% 7,958 6,796 17.1% IT & Consulting 9,374 8,286 13.1% 4,282 2,997 42.9% Fixed income 4,580 5,308 -13.7% 3,065 3,781 -18.9% REVENUES EBITDA 20. - 20 - July 2013 Business Evolution January June 2013 Index A. Results B. Business Overview C. Financials D. Business Drivers 21. - 21 - July 2013 Business Evolution January June 2013 Balance sheet as of June, 30th (Thousands of ) 2013 2012 Goodwill 82,190 82,190 Other non-current assets 88,901 85,822 Cash and cash equivalents 247,722 317,485 Non-Group current financial assets 39,791,450 37,881,162 Other current assets 137,836 107,046 Total assets 40,348,099 38,473,705 Owners' Equity 403,802 433,459 External Partners 159 0 Non-current liabilities 18,759 18,531 Current liabilities 39,925,379 38,021,715 Total equity and liabilities 40,348,099 38,473,705 22. - 22 - July 2013 Business Evolution January June 2013 P/L Thousands of 2Q 2013 2Q 2012 % 1H 2013 1H 2012 % Revenues 80,349 81,200 -1.0% 153,381 158,586 -3.3% Expenses (25,622) (25,757) -0.5% (50,783) (50,837) -0.1% EBITDA 54,727 55,443 -1.3% 102,598 107,749 -4.8% EBIT 52,978 53,441 -0.9% 99,062 103,688 -4.5% Financial results 1,559 1,051 48.3% 2,405 1,592 51.1% EBT 54,407 54,321 0.2% 101,224 104,961 -3.6% Net Profit 39,030 38,532 1.3% 72,018 74,045 -2.7% 23. - 23 - July 2013 Business Evolution January June 2013 EBITDA 1H 2013/2012 [ Mill.] Net Profit 1H 2013/2012 [ Mill.] Comparison with 1H 2012 Revenues 1H 2013/2012 Costs 1H 2013/2012 Margins [ Mill.] [ Mill.] - 3.3% - 0.1% - 2.7%- 4.8% 153.4 158.6 1S 2013 1S 2012 50.8 50.8 1S 2013 1S 2012 102.6 107.7 1S 2013 1S 2012 72.0 74.0 1S 2013 1S 2012 24. - 24 - July 2013 Business Evolution January June 2013 31.9% 31.7% 33.1% 32.1% 2Q13 2Q12 1H13 1H12 48.4% 48.2% 51.3% 49.0% 2Q13 2Q12 1H13 1H12 Efficiency & Profitability ROE Evolution EBIT/Revenues Ratio Evolution % ROE % EBIT/Revenues % Cost/EBIT % Efficiency Efficiency Ratio EvolutionCost/EBIT Ratio Evolution 37.1% 34.1% 35.6% 34.1% 2Q13 2Q12 1H13 1H12 65.9% 65.8% 64.6% 65.4% 2Q13 2Q12 1H13 1H12 25. - 25 - July 2013 Business Evolution January June 2013 Index A. Results B. Business Overview C. Financials D. Business Drivers 26. - 26 - July 2013 Business Evolution January June 2013 Business drivers: Highly liquid market Spanish blue-chips are the most liquid stocks in the EMU Source: Bloomberg 1) As of 30/06/13 RK 1H13 1 2 3 4 5 6 7 8 9 10 22 27 33 Company Daily avg. 1H/13 Turnover ( Biilion)RK 66.0 59.4 57.8 45.2 44.3 44.3 43.3 41.1 40.1 39.1 28.3 25.7 24.4 1 2 3 4 5 6 7 8 9 10 20 25 27 0.53 0.48 0.46 0.36 0.35 0.35 0.35 0.33 0.32 0.31 0.23 0.21 0.20 3.353% 1.230% 1.088% 2.672% 2.076% 2.479% 6.067% 4.087% 3.991% 3.372% 1.292% 0.760% 1.453% Relative weight at EuroStoxx50 (%)1) Turnover ( Biilion) 27. - 27 - July 2013 Business Evolution January June 2013 Distribution by markets of business volume of the IBEX 35 companies (2008 2012) Diversified market Source: Interim Reports from listed companies obtained from CNMV Spain EU OCDE Rest 19% 17% 25% 28. - 28 - July 2013 Business Evolution January June 2013 Q&A