BME Spain Investor Day Presentation 12 th  January 2012
Presentation index <ul><li>2011: Summary of company activity </li></ul><ul><li>2012: A challenging year </li></ul>
2011: Summary of company activity <ul><li>A Difficult year in markets as result of macro scenario and soverign risk crisis...
2011: Summary of company activity <ul><li>Time for companies to choose Markets as source of financing </li></ul>Source: FE...
2011: Summary of company activity BME´s & Avg.peer group efficiency ratio <ul><li>Focus on efficiency and cost management ...
2011: Summary of company activity <ul><li>A continued trend in protection of value to shareholders </li></ul>
2011: Summary of company activity <ul><li>High standard of retribution to shareholders </li></ul><ul><ul><li>As listed com...
2011: Summary of company activity <ul><li>Solid and healthy company </li></ul><ul><li>Limited goodwill and a positive impa...
2011: Summary of company activity <ul><li>Profitable in all business lines </li></ul>
2012: A Challenging year <ul><li>Regulation: Driver for Business performance. Wind for Transparency and risk control repre...
2012: A Challenging year <ul><li>Developments all along the value chain </li></ul>MAB ETFs BME Innova InResearch Regis-TR ...
<ul><li>Latinoamerica. Developments with projection to the Area </li></ul>2012: A Challenging year REGIS-TR: OTC derivativ...
<ul><li>Resiliant bussines for difficult times and plug-in to value in recovery </li></ul>2012: A Challenging year Free CF...
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BME Presentation, Spain investors day 12 January 2012

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BME Presentation, Spain investors day 12 January 2012

  1. 1. BME Spain Investor Day Presentation 12 th January 2012
  2. 2. Presentation index <ul><li>2011: Summary of company activity </li></ul><ul><li>2012: A challenging year </li></ul>
  3. 3. 2011: Summary of company activity <ul><li>A Difficult year in markets as result of macro scenario and soverign risk crisis </li></ul><ul><ul><li>Worsening of economic conditions during the year led to market prices downturn -13.1% for IBEX 35® and -20/25% for medium and smallcap benchmark. </li></ul></ul><ul><ul><li>Volatility index rose to 60% levels and intraday volatility climbed above 2% in 25% of the trading days. </li></ul></ul><ul><ul><li>Market levels impacted year´s turnover, -10.8% yoy. Underlying market activity remains strong with +13.2% yoy increase in number of trades. </li></ul></ul>
  4. 4. 2011: Summary of company activity <ul><li>Time for companies to choose Markets as source of financing </li></ul>Source: FESE (*) Data from Jan/11 to Nov/11 Investment Flows channelled through the Exchange (EUROm) + 33,6% <ul><ul><li>Banking vs Market Financing is 30/70 US and 70/30 Europe. Scope to grow. </li></ul></ul><ul><ul><li>Role of markets: 34% growth in flows to Exchange combination of IPOs and capital incresases. </li></ul></ul><ul><ul><li>4.0 €bn. Market cap raised through scrip dividends in 2011. </li></ul></ul><ul><ul><li>Development of small companies through the Market: 5 listings and 4 capital increases in 2011 for growth segment of MAB. </li></ul></ul><ul><ul><li>Private Fixed Income listings of 234 €bn. in 2011, 14.2% increase yoy. </li></ul></ul>
  5. 5. 2011: Summary of company activity BME´s & Avg.peer group efficiency ratio <ul><li>Focus on efficiency and cost management </li></ul>Effective cost base management and benchmark in effciency thanks to business model
  6. 6. 2011: Summary of company activity <ul><li>A continued trend in protection of value to shareholders </li></ul>
  7. 7. 2011: Summary of company activity <ul><li>High standard of retribution to shareholders </li></ul><ul><ul><li>As listed company, since 2006 BME has distributed €841 million or 10.1 euros/share in ordinary and extraordinary dividends. </li></ul></ul><ul><ul><li>In 2011 BME´s return was 27.7%, 11.1% through dividend payments. </li></ul></ul><ul><ul><li>BME´s payout ratio 85-90% is one of the highest in sector and market. Sustainable Pay-out </li></ul></ul>
  8. 8. 2011: Summary of company activity <ul><li>Solid and healthy company </li></ul><ul><li>Limited goodwill and a positive impairment test </li></ul><ul><ul><li>Goodwill stands at 18% of shareholders’ equity. </li></ul></ul><ul><ul><li>Last impairment test shows a positive difference in value of more than 40%. </li></ul></ul><ul><li>No debt, optionality for leverage </li></ul><ul><li>Short-term debts payable are comprised solely of deposited guarantees (also reflected on the asset side) and the transitory balances of the company’s normal operations. </li></ul><ul><li>Liquid position </li></ul>Balance sheet
  9. 9. 2011: Summary of company activity <ul><li>Profitable in all business lines </li></ul>
  10. 10. 2012: A Challenging year <ul><li>Regulation: Driver for Business performance. Wind for Transparency and risk control represents business oportunities for Regulated Markets </li></ul>Projects in process related to regulatory changing times Regis-TR Meff Energy CCP Equity LinkUp Mkts
  11. 11. 2012: A Challenging year <ul><li>Developments all along the value chain </li></ul>MAB ETFs BME Innova InResearch Regis-TR LinkUp Markets CCP Equity Meff Energy London Hubs SEND New SIBE Funds Platform Taylored Feeds BME Clima Open Finance Indexes Proximity & Colocation Trading Listing Information Clearing & Settlement
  12. 12. <ul><li>Latinoamerica. Developments with projection to the Area </li></ul>2012: A Challenging year REGIS-TR: OTC derivatives trade repository Market Data LinkUp Markets: Settlement Services Open Finance: IT Front-office solutions Technological Cooperation <ul><li>SIBE: </li></ul><ul><ul><li>Argentina </li></ul></ul>
  13. 13. <ul><li>Resiliant bussines for difficult times and plug-in to value in recovery </li></ul>2012: A Challenging year Free CF generation Low Capex Critical mass Efficiency Low Marginal Cost Operating Leverage

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