- 1 -April 2013Business Evolution January – March 2013BusinessPerformanceFirst quarter 2013
- 2 -April 2013Business Evolution January – March 2013DisclaimerTHIS INFORMATION IS STRICTLY CONFIDENTIAL AND IS BEING FUR...
- 3 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
- 4 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
- 5 -April 2013Business Evolution January – March 2013ResultsNet profitNet profit decrease of 7.1% (+8.6% compared to 4Q12...
- 6 -April 2013Business Evolution January – March 2013Solid operating leverageCosts Revenues Revenues not linked to volume...
- 7 -April 2013Business Evolution January – March 2013Key ratios benchmarking• Efficiency • ROE- BME´s data as of 31/03/20...
- 8 -April 2013Business Evolution January – March 2013Dividends: Maximizing shareholders´ returnsPay-out Dividend proposal...
- 9 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
- 10 -April 2013Business Evolution January – March 2013Business AreasConsolidated Revenues1Q 2013 - %EBITDA1Q 2013 - %Equi...
- 11 -April 2013Business Evolution January – March 2013Equity MarketThousands of € 1Q 2013 1Q 2012 %Revenues 27,931 30,184...
- 12 -April 2013Business Evolution January – March 2013Equity Market• Effects of the lifting of short selling banSteady re...
- 13 -April 2013Business Evolution January – March 201311.514.010.7 10.6 10.41Q12 2Q12 3Q12 4Q12 1Q13Securities under cust...
- 14 -April 2013Business Evolution January – March 2013108 105100 97 943.64.0 4.03.6 3.51Q12 2Q12 3Q12 4Q12 1Q13Suscribers...
- 15 -April 2013Business Evolution January – March 2013ListingAIAF: New listings (Billion €)CommercialpaperCorporatebondsM...
- 16 -April 2013Business Evolution January – March 2013• Companies find in the market the mean to adjust debt and reinforc...
- 17 -April 2013Business Evolution January – March 20137,0884,2009,4456,7041Q12 1Q131,0221,238495 4764821,2781Q12 1Q13Deri...
- 18 -April 2013Business Evolution January – March 2013Fixed income1Q12 set a demanding comparison baseThousands of € 1Q 2...
- 19 -April 2013Business Evolution January – March 2013IT & ConsultingThousands of € 1Q 2013 1Q 2012 %Revenues 4,429 4,102...
- 20 -April 2013Business Evolution January – March 2013Breakdown by business areas€ Thousand 1Q 2013 1Q 2012 % 1Q 2013 1Q ...
- 21 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
- 22 -April 2013Business Evolution January – March 2013Balance sheetas of March, 31th(Thousands of €)2013 2012Goodwill 82,...
- 23 -April 2013Business Evolution January – March 2013P/LThousands of € 1Q 2013 1Q 2012 %Revenues 73,032 77,386 -5.6%Expe...
- 24 -April 2013Business Evolution January – March 2013EBITDA 1Q 2013/2012 [€ Mill.] Net Profit 1Q 2013/2012 [€ Mill.]Comp...
- 25 -April 2013Business Evolution January – March 201334.5% 32.4%1Q13 1Q1254.6%49.9%1Q13 1Q1263.1% 64.9%1Q13 1Q12Efficien...
- 26 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
- 27 -April 2013Business Evolution January – March 2013Business drivers: Highly liquid market• Spanish blue-chips are the ...
- 28 -April 2013Business Evolution January – March 2013• Distribution by markets of business volume of the IBEX 35®compani...
- 29 -April 2013Business Evolution January – March 2013Q&A
Upcoming SlideShare
Loading in...5
×

Financial Results BME 1Q2013. Source: BME

645

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
645
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Financial Results BME 1Q2013. Source: BME

  1. 1. - 1 -April 2013Business Evolution January – March 2013BusinessPerformanceFirst quarter 2013
  2. 2. - 2 -April 2013Business Evolution January – March 2013DisclaimerTHIS INFORMATION IS STRICTLY CONFIDENTIAL AND IS BEING FURNISHED TO YOU SOLELY FORYOUR 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 THISINFORMATION, 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. THEDISTRIBUTION OF THIS INFORMATION IN OTHER JURISDICTIONS MAY ALSO BE RESTRICTED BYLAW AND PERSONS INTO WHOSE POSSESSION THIS INFORMATION COMES SHOULD INFORMTHEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTIONS.THIS INFORMATION DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER FOR SALE ORSOLICITATION OF ANY OFFER TO BUY ANY SECURITIES NOR SHALL IT OR ANY PART OF IT FORMTHE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR COMMITMENT TOPURCHASE SHARES.THE INFORMATION CONTAINED IN THIS DOCUMENT HAS BEEN PROVIDED BY BME.
  3. 3. - 3 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
  4. 4. - 4 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
  5. 5. - 5 -April 2013Business Evolution January – March 2013ResultsNet profitNet profit decrease of 7.1% (+8.6% compared to 4Q12)- 7.1% (€ Million)+ 8.6%35.538.531.0 30.433.01Q12 2Q12 3Q12 4Q12 1Q13+ 8.6%
  6. 6. - 6 -April 2013Business Evolution January – March 2013Solid operating leverageCosts Revenues Revenues not linked to volumes Ratio78%90%106% 109% 105% 103%112%118%112%2005 2006 2007 2008 2009 2010 2011 2012 1Q13
  7. 7. - 7 -April 2013Business Evolution January – March 2013Key ratios benchmarking• Efficiency • ROE- BME´s data as of 31/03/2013- Average peer Group figures are calculated using last results published and not takingaccount of goodwill impairment chargesAverage PeerGroup31.0%13.6%BME34.5%47.0%BME Average PeerGroup
  8. 8. - 8 -April 2013Business Evolution January – March 2013Dividends: Maximizing shareholders´ returnsPay-out Dividend proposal:Suplementary Dividend: 0.6 €/share – 10thMayCapital contributions return: 0.23 €/shareExtraordinary Dividend: 0.142 €/share0.956 0.9860.40 0.40 0.40 0.400.60 0.60 0.60 0.601.016 0.9860.60 0.60 0.60 0.600.372 0.372 0.372 0.3722007 2008 2009 2010 2011 2012First interim Dividend Second interim Dividend Suplementary Dividend Extraordinary Dividend1.972 1.972Total Dividends/SharePay Out 82% 86%1.9721.9721.972Pay Out 89% 86% 86% 98%1.9720.372 €/share - June
  9. 9. - 9 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
  10. 10. - 10 -April 2013Business Evolution January – March 2013Business AreasConsolidated Revenues1Q 2013 - %EBITDA1Q 2013 - %Equity38.3%Clearing&Settlement25.5%Listing 6.9%Information11.1%Derivatives9.3%FixedIncome2.8%IT &Consulting6.1%Equity38.9%Clearing&Settlement29.7%Listing 5.3%Information12.1%Derivatives7.6%FixedIncome 2.6%IT &Consulting3.9%
  11. 11. - 11 -April 2013Business Evolution January – March 2013Equity MarketThousands of € 1Q 2013 1Q 2012 %Revenues 27,931 30,184 -7.5%Expenses (8,003) (8,215) -2.6%EBITDA 19,928 21,969 -9.3%70466166706371344970425768425228.16.712.925.715.1 17.629.76.49.028.27.611.2 28.28.4 12.13.93.44.04.6 4.84.1 4.02.32.52.72.3 2.13.33.53.41/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/12 11/12 12/12 1/13 2/13 3/13177199154170 16247.758.545.1 47.0 48.711.313.58.87.110.21Q12 2Q12 3Q12 4Q12 1Q13Equity (Turnover, volume and shares traded)Turnover (€ Bill.) Shares (Bill.) Trades (Mill.) Turnover (€ Bill.) Shares (Bill.) Trades (Mill.)
  12. 12. - 12 -April 2013Business Evolution January – March 2013Equity Market• Effects of the lifting of short selling banSteady recovery in trading volumes05,00010,00015,00020,00025,00030,00035,00040,00045,0000.00.51.01.52.02.53.03.54.04.55.0Numberoftrades(Million)Turnover Number of tradesTurnover(€Million)
  13. 13. - 13 -April 2013Business Evolution January – March 201311.514.010.7 10.6 10.41Q12 2Q12 3Q12 4Q12 1Q13Securities under custody: Volumes(€ Billion)Clearing and SettlementMixed performance: Increase in Equity activity and reduction in Fixed incomeThousands of € 1Q 2013 1Q 2012 %Revenues 18,606 19,528 -4.7%Expenses (3,380) (3,460) -2.3%EBITDA 15,226 16,068 -5.2%Settlement: Number of trades settled(Million of trades)1,585 1,584 1,571 1,590 1,593525 474 498 528 5301Q12 2Q12 3Q12 4Q12 1Q13Fixed income nominal reg Equity turnover reg2,110 2,058 2,069 2,118 2,123
  14. 14. - 14 -April 2013Business Evolution January – March 2013108 105100 97 943.64.0 4.03.6 3.51Q12 2Q12 3Q12 4Q12 1Q13Suscribers (Thous.) P.Quote (Mill.)Market Data & InformationInformation: Subscribers to primary market sources (Average for theperiod in thousands of subscribers and millions of accesses per quote)Lower revenues from primary market sourcesThousands of € 1Q 2013 1Q 2012 %Revenues 8,092 8,856 -8.6%Expenses (1,875) (1,851) 1.3%EBITDA 6,217 7,005 -11.2%
  15. 15. - 15 -April 2013Business Evolution January – March 2013ListingAIAF: New listings (Billion €)CommercialpaperCorporatebondsMBS ABS PreferedsecuritiesIssuers efforts in deleveragehas result in a reduction inPrivate Fixed Income listingsThousands of € 1Q 2013 1Q 2012 %Revenues 5,036 6,091 -17.3%Expenses (2,310) (2,315) -0.2%EBITDA 2,726 3,776 -27.8%1Q12 2Q12 3Q12 4Q12 1Q13127.445.085.169.981.6
  16. 16. - 16 -April 2013Business Evolution January – March 2013• Companies find in the market the mean to adjust debt and reinforce their balancesInvestment flows channeled to the Exchange through capital increasesand scrip dividends (€ Billion)• 1Q13 continued with stronglevels of activity in flowschanneled to the exchange(+15.3% compared to 1Q12)• Scrip dividends totalled €2.6billion in 1Q13 (+74.8% yoy)• According to data provided bythe world Federation Exchange(WFE), total amount of flowschanneled throught theexchange places BME as thesecond european exchange interms of source of financing forcompanies and among the fivefirst exchanges worlwideSource: FESE (Federation of European Stock Exchanges)Listing6,8615,1257,8838,6457,9121Q12 2Q12 3Q12 4Q12 1Q13
  17. 17. - 17 -April 2013Business Evolution January – March 20137,0884,2009,4456,7041Q12 1Q131,0221,238495 4764821,2781Q12 1Q13Derivatives(Thousand of contracts)Increase in revenues as a consequence of activity recoveryThousands of € 1Q 2013 1Q 2012 %Revenues 6,801 5,451 24.8%Expenses (2,923) (2,913) 0.3%EBITDA 3,878 2,538 52.8%Stock derivatives contracts tradedIndex derivatives contracts tradedIBEX 35® Futures MiniIBEX 35® Futures IBEX 35® Options Stock Futures Stock Options(Thousand of contracts)
  18. 18. - 18 -April 2013Business Evolution January – March 2013Fixed income1Q12 set a demanding comparison baseThousands of € 1Q 2013 1Q 2012 %Revenues 2,078 2,905 -28.5%Expenses (767) (754) 1.7%EBITDA 1,311 2,151 -39.1%AIAF – Turnover (Billion €)Repo Cash TradesMBS&ABSCommercialpaperCorporatebondsPreferredsecurities1Q12 2Q12 3Q12 4Q12 1Q13753571499407742606379496666340148120757667379,483315,511234,387419,409119,1351Q12 2Q12 3Q12 4Q12 1Q13753 742499407571
  19. 19. - 19 -April 2013Business Evolution January – March 2013IT & ConsultingThousands of € 1Q 2013 1Q 2012 %Revenues 4,429 4,102 8.0%Expenses (2,449) (2,618) -6.5%EBITDA 1,980 1,484 33.4%
  20. 20. - 20 -April 2013Business Evolution January – March 2013Breakdown by business areas€ Thousand 1Q 2013 1Q 2012 % 1Q 2013 1Q 2012 %Equity Market 27,931 30,184 -7.5% 19,928 21,969 -9.3%Clearing & Settlement 18,606 19,528 -4.7% 15,226 16,068 -5.2%Listing 5,036 6,091 -17.3% 2,726 3,776 -27.8%Market Data & Information 8,092 8,856 -8.6% 6,217 7,005 -11.2%Derivatives 6,801 5,451 24.8% 3,878 2,538 52.8%IT & Consulting 4,429 4,102 8.0% 1,980 1,484 33.4%Fixed income 2,078 2,905 -28.5% 1,311 2,151 -39.1%REVENUES EBITDA
  21. 21. - 21 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
  22. 22. - 22 -April 2013Business Evolution January – March 2013Balance sheetas of March, 31th(Thousands of €)2013 2012Goodwill 82,190 82,190Other non-current assets 96,758 86,261Cash and cash equivalents 299,734 344,800Non-Group current financial assets 44,111,699 36,890,623Other current assets 395,476 95,569Total assets 44,985,857 37,499,443Owners Equity 446,987 475,372External Partners 204 0Non-current liabilities 22,063 17,783Current liabilities 44,516,603 37,006,288Total equity and liabilities 44,985,857 37,499,443
  23. 23. - 23 -April 2013Business Evolution January – March 2013P/LThousands of € 1Q 2013 1Q 2012 %Revenues 73,032 77,386 -5.6%Expenses (25,161) (25,080) 0.3%EBITDA 47,871 52,306 -8.5%EBIT 46,084 50,247 -8.3%Financial results 846 541 56.4%EBT 46,817 50,640 -7.5%Net Profit 32,988 35,513 -7.1%
  24. 24. - 24 -April 2013Business Evolution January – March 2013EBITDA 1Q 2013/2012 [€ Mill.] Net Profit 1Q 2013/2012 [€ Mill.]Comparison with 1Q 2012Revenues 1Q 2013/2012 Costs 1Q 2013/2012Margins[€ Mill.] [€ Mill.]-5.6% + 0.3%73.077.41Q 2013 1Q 201225.225.11Q 2013 1Q 2012-8.5% -7.1%47.9 52.31Q 2013 1Q 201233.0 35.51Q 2013 1Q 2012
  25. 25. - 25 -April 2013Business Evolution January – March 201334.5% 32.4%1Q13 1Q1254.6%49.9%1Q13 1Q1263.1% 64.9%1Q13 1Q12Efficiency & ProfitabilityROE Evolution EBIT/Revenues Ratio Evolution% ROE % EBIT/Revenues% Cost/EBIT % EfficiencyEfficiency Ratio EvolutionCost/EBIT Ratio Evolution31.0% 31.2%1Q13 1Q12
  26. 26. - 26 -April 2013Business Evolution January – March 2013IndexA. ResultsB. Business OverviewC. FinancialsD. Business Drivers
  27. 27. - 27 -April 2013Business Evolution January – March 2013Business drivers: Highly liquid market• Spanish blue-chips are the most liquid stocks in the EMUSource: Bloomberg 1) As of 31/03/13RK1Q1312345678910222733CompanyDaily avg. 1Q/13Turnover (€ Biilion)RK33.532.531.722.520.420.219.919.519.318.812.310.88.9123456789102227330.540.520.510.360.330.330.320.310.310.300.200.170.140.023%0.011%0.034%0.026%0.018%0.060%0.027%0.010%0.044%0.030%0.008%0.012%0.014%Relative weight atEuroStoxx50 (%)1)Turnover (€ Biilion)
  28. 28. - 28 -April 2013Business Evolution January – March 2013• Distribution by markets of business volume of the IBEX 35®companies (2008 – 2012)Diversified marketSource: Interim Reports from listed companies obtained from CNMVSpain EU OCDE Rest19%17%25%
  29. 29. - 29 -April 2013Business Evolution January – March 2013Q&A
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×