The document provides an overview of BGC Partners, Inc., including its two business segments: Financial Services and Real Estate Services. It discusses BGC's solid business foundation, diversified revenues, growth opportunities through synergies from the GFI acquisition, and history of successful acquisitions. Key metrics highlighted include a 26.5% year-over-year increase in Q1 2015 revenues and a 33.7% increase in pre-tax distributable earnings. An outlook for Q2 2015 forecasts a 51-58% increase in revenues and a 32-51% increase in pre-tax distributable earnings.
The document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's solid business model, track record of acquisitions, and third quarter 2015 financial results which showed revenue growth of 55.8% and distributable earnings per share growth of 11.8% year-over-year. The document also outlines BGC's revenue diversification by asset class, region, and business segment.
October 2014 NGKF – GCS Investor Presentationirbgcpartners
This document provides an overview and disclaimer for an investor presentation by BGC Partners, Inc. It discusses BGC's two business segments: Financial Services and Real Estate Services. For Real Estate Services, it summarizes that the business has seen strong revenue and earnings growth recently, provides recurring and variable revenue streams, and has expanded its footprint through the recent acquisition of Cornish & Carey Commercial.
BGC Partners held an Investor & Analyst Day on May 29, 2014 to provide an overview and updates on the company. The presentation included:
- BGC has two business segments: Financial Services and Real Estate Services (Newmark Grubb Knight Frank)
- Financial Services revenues account for 62% of total revenues while Real Estate Services accounts for 36%
- BGC has a long track record of revenue growth and acquiring companies to expand its services
- Continuity of experienced executive and business management teams
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It highlighted the company's diversified revenue streams, growth strategy through acquisitions, and increasing focus on fully electronic trading. Select financial metrics from Q2 2015 showed over 60% revenue growth and margin expansion compared to the prior year.
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It summarized Q2 2015 results which showed revenue and profitability growth compared to Q2 2014, driven by acquisitions and increased activity in certain asset classes. The presentation also discussed BGC's diversified revenue streams, acquisition strategy, and growth in its fully electronic trading business.
Q22015 investor presentation v final 2airbgcpartners
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It summarized Q2 2015 results which showed revenue and profitability growth compared to Q2 2014, driven by acquisitions and increased activity in certain asset classes. The presentation also discussed BGC's strategy of pursuing acquisitions and growing its fully electronic trading platform.
1 q2014 earnings presentation final finalirbgcpartners
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
The document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's solid business model, track record of acquisitions, and third quarter 2015 financial results which showed revenue growth of 55.8% and distributable earnings per share growth of 11.8% year-over-year. The document also outlines BGC's revenue diversification by asset class, region, and business segment.
October 2014 NGKF – GCS Investor Presentationirbgcpartners
This document provides an overview and disclaimer for an investor presentation by BGC Partners, Inc. It discusses BGC's two business segments: Financial Services and Real Estate Services. For Real Estate Services, it summarizes that the business has seen strong revenue and earnings growth recently, provides recurring and variable revenue streams, and has expanded its footprint through the recent acquisition of Cornish & Carey Commercial.
BGC Partners held an Investor & Analyst Day on May 29, 2014 to provide an overview and updates on the company. The presentation included:
- BGC has two business segments: Financial Services and Real Estate Services (Newmark Grubb Knight Frank)
- Financial Services revenues account for 62% of total revenues while Real Estate Services accounts for 36%
- BGC has a long track record of revenue growth and acquiring companies to expand its services
- Continuity of experienced executive and business management teams
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It highlighted the company's diversified revenue streams, growth strategy through acquisitions, and increasing focus on fully electronic trading. Select financial metrics from Q2 2015 showed over 60% revenue growth and margin expansion compared to the prior year.
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It summarized Q2 2015 results which showed revenue and profitability growth compared to Q2 2014, driven by acquisitions and increased activity in certain asset classes. The presentation also discussed BGC's diversified revenue streams, acquisition strategy, and growth in its fully electronic trading business.
Q22015 investor presentation v final 2airbgcpartners
BGC Partners held an investor presentation in September 2015 to discuss the company's businesses and financial results. The presentation provided an overview of BGC's two business segments: Financial Services and Real Estate Services. It summarized Q2 2015 results which showed revenue and profitability growth compared to Q2 2014, driven by acquisitions and increased activity in certain asset classes. The presentation also discussed BGC's strategy of pursuing acquisitions and growing its fully electronic trading platform.
1 q2014 earnings presentation final finalirbgcpartners
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
1 q2014 earnings presentation final finalirbgcpartners
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
BGC Partners reported financial results for the first quarter of 2015 with revenues increasing 26.5% year-over-year to $563.9 million. Pre-tax distributable earnings were up 33.7% to $75.2 million compared to the prior year. The financial services segment saw revenues increase 24% to $355.7 million driven by the consolidation of GFI Group and increased activity in foreign exchange, equities, energy and commodities. Real estate services revenues were also up 34% to $200.4 million, led by increases in capital markets and leasing. BGC expects to realize annual cost synergies of $50-$90 million from the integration of GFI Group.
BGC Partners held an earnings presentation for Q2 2015. The presentation included the following key points:
- Revenues for Q2 2015 were $684.6 million, up 59.1% from Q2 2014, with pre-tax distributable earnings of $77.5 million, up 46.3%.
- Financial services revenues were $435 million, up over 60% due to the consolidation of GFI Group, while real estate revenues were $239.7 million, up 61%.
- BGC maintains a diverse revenue base across different asset classes and geographies to reduce risk.
Q22015 earnings presentation v final (working version)irbgcpartners
BGC Partners reported financial results for the second quarter of 2015. Revenues increased 59% compared to the second quarter of 2014, driven by the consolidation of GFI Group. Financial services revenues grew over 60% and pre-tax profits increased over 37% compared to the prior year. Volatility levels increased across most asset classes, which typically drives increased demand for hedging. The strengthening US dollar negatively impacted non-US revenues.
This document provides an earnings presentation for BGC Partners for Q2 2015. It includes a disclaimer regarding forward-looking statements. There are then sections summarizing key financial results for Q2 2015 compared to Q2 2014, including a 59.1% increase in revenues and a 48.6% increase in post-tax distributable earnings. Subsequent sections provide breakdowns of revenue and headcount by business segment and geographic region, as well as details on revenue composition and industry volumes.
Q22015 earnings presentation v final (working version)irbgcpartners
BGC Partners reported financial results for Q2 2015 with revenues up 59% year-over-year and distributable earnings per share up 38.5% year-over-year. Financial services revenues increased over 60% due to the consolidation of GFI Group, while real estate services revenues grew 61%. Market volatility increased across most asset classes, contributing to higher trading activity. BGC maintained a diverse revenue base across geographic regions, products, and services.
1) The document is BGC Partners' Q3 2014 investor presentation which provides an overview of the company's Financial Services and Real Estate Services segments.
2) BGC Partners has diversified revenues across geographies and asset classes in Financial Services and product categories in Real Estate Services.
3) The company has a history of successful acquisitions that have been accretive to earnings and expanded its services, and continues to selectively acquire businesses.
This document provides an earnings presentation for BGC Partners for Q3 2014. Some key highlights include:
- Revenues for Q3 2014 were $449.8 million, up 8.5% from Q3 2013. Pre-tax distributable earnings were $65.8 million, up 75.8% from Q3 2013.
- Financial services revenues were $261.2 million, with pre-tax earnings of $55 million. Real estate revenues were $179.1 million, with pre-tax earnings of $23.9 million.
- BGC also announced a tender offer to acquire GFI Group for $5.25 per share in cash, representing a premium to GFI's previous
BGC Partners released earnings results for the fourth quarter of 2013. Some key highlights include:
- Revenues for the quarter were $432.9 million, down slightly from $436.3 million in the same period in 2012.
- Pre-tax distributable earnings were $46 million, up 31% from $35.1 million in Q4 2012.
- The Board of Directors declared a quarterly cash dividend of $0.12 per share.
$125
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FY 2013
Q4 2012
Q4
January 2016 General Investor Presentationirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's solid business model, diversified revenues, profitable acquisitions, growing electronic business, and expectations for continued dividend payments. Financial highlights from 3Q2015 show strong revenue and earnings growth compared to the prior year.
BGC Partners reported financial results for Q2 2014 with revenues of $430.3 million, down 8.7% from Q2 2013. Pre-tax distributable earnings were $53 million, down slightly by 1.6% year-over-year. The company declared a quarterly cash dividend of $0.12 per share. Financial services revenues were $271.5 million while real estate revenues were $149.1 million. Industry volatility and trading volumes remained low compared to prior periods, challenging BGC's financial performance.
The document is BGC Partners' 4Q 2013 earnings presentation. It provides an overview of BGC Partners' 4Q 2013 financial results compared to 4Q 2012, including a 41.9% increase in post-tax distributable earnings per share. It also discusses segment results, with Financial Services revenues down slightly and Real Estate Services revenues up significantly. Additionally, it reviews drivers and trends across various financial products and asset classes.
The document is BGC Partners' 4Q 2013 earnings presentation. It provides an overview of BGC Partners' 4Q 2013 financial results compared to 4Q 2012, including a 41.9% increase in post-tax distributable earnings per share. It also discusses segment results, with Financial Services revenues down slightly and Real Estate Services revenues up significantly. Additionally, it reviews BGC's business lines, product diversity, front office metrics, and provides context around current market conditions.
September 2016 general investor presentationirbgcpartners
BGC's Financial Services segment saw year-over-year growth in pre-tax distributable earnings of 6% in 2Q2016. The segment's pre-tax distributable earnings margins expanded 260 basis points despite the sale of Trayport, which had high margins of approximately 45%. BGC's fully electronic FENICS business saw revenues and pre-tax earnings increase 6% and 19% respectively through organic growth, with pre-tax margins expanding 545 basis points. Voice/hybrid credit revenues were up 3% and energy & commodities revenues up 4% year-over-year. BGC reached its $100 million cost savings target from the GFI acquisition two quarters ahead of schedule and now expects $
BGC Partners presented at an investor conference in June 2013. The presentation discussed BGC's forward-looking statements and provided an overview of the company's business segments and financial performance. It noted that BGC has two business segments - Financial Services and Real Estate Services - and that it aims to grow through hiring, acquisitions, and expanding its fully electronic trading platform. The presentation also provided details on BGC's recent sale of its eSpeed business to NASDAQ OMX and outlined its plans for using the sale proceeds.
- BGC Partners reported financial results for Q4 2014 with revenues of $515.5 million, up 19.1% from Q4 2013. Pre-tax distributable earnings were $72.6 million, up 57.8% from the prior year.
- The company declared a quarterly cash dividend of $0.12 per share to be paid in March 2015.
- Revenues increased in the Americas by 31% year-over-year while declining slightly in EMEA and APAC. Real estate comprised 48% of total revenues, the largest percentage in company history.
3 q16 earnings presentation vfinal final irbgcpartners
BGC Partners reported financial results for the third quarter of 2016. Total revenues decreased 6% year-over-year to $643.5 million due to lower volumes in foreign exchange, equities, and commodities markets. However, pre-tax distributable earnings increased 8% to $106.8 million and margins expanded to 16.6% due to cost cutting measures and growth in higher margin electronic businesses. Financial Services revenues declined 13% but pre-tax earnings rose 2% and margins improved 350 basis points from increased contributions from fully electronic trading. Real Estate Services revenues grew 4% primarily from strong capital markets performance.
This document provides an investor presentation by BGC Partners, Inc. for June 2013. It discusses forward-looking statements and risks, financial metrics such as distributable earnings and adjusted EBITDA, an overview of BGC's two business segments of financial services and real estate services, and details on the eSpeed transaction where BGC will sell its U.S. Treasury trading platform to NASDAQ OMX. It also provides segment revenue breakdowns, growth opportunities in electronic trading, and the diversification of BGC's financial services business.
BGC Partners reported financial results for the third quarter of 2015. Revenues increased 55.8% to $700.9 million compared to the third quarter of 2014, driven by the acquisition of GFI Group. Pre-tax distributable earnings were up 33.9% to $88.1 million. The fully electronic division, FENICS, saw revenues increase 142% and pre-tax earnings rise 82% over the prior year. BGC maintained a diverse revenue base across its business segments and geographies.
BGC Partners reported financial results for the fourth quarter and full year of 2016. For the quarter, revenues were $673.2 million, down slightly from the previous year, while pre-tax distributable earnings increased 27.7% to $129.1 million. For the full year, revenues increased 1.2% to $2.6 billion and pre-tax distributable earnings rose 18.1% to $425.4 million. The financial services segment saw a 5% revenue decline for the quarter and a 2% decline for the year, while real estate services revenue increased 7% for the quarter and 6% for the year, driven by strong capital markets growth.
Lkq second quarter 2016 earnings call presentationcorporationlkq
- LKQ reported financial results for the second quarter of 2016, with revenue increasing 33.3% year-over-year to $4.4 billion driven by organic growth and acquisitions. Net income was $140.7 million for Q2 2016 compared to $119.7 million for the same period in 2015.
- Segment EBITDA margin increased to 13.0% for Q2 2016 from 12.7% in Q2 2015. Revenue growth was driven by organic growth in parts and services of 5.4% as well as acquisition growth including the addition of the glass segment through the acquisition of PGW.
- For the first half of 2016, revenue increased 21.0% to $
September 2016 general investor presentationv v final 9 14-16irbgcpartners
BGC Partners reported strong year-over-year growth in distributable earnings for the second quarter of 2016 and full year 2015. For the second quarter, pre-tax distributable earnings increased 6.7% year-over-year driven by growth in the Financial Services segment, particularly in its fully electronic FENICS business. BGC's business is diversified by geography, asset class, and between its Financial Services and Real Estate Services segments. The company has a track record of successful acquisitions that have been accretive to earnings.
1 q2014 earnings presentation final finalirbgcpartners
BGC Partners reported financial results for Q1 2014 with the following highlights:
- Revenues were $445.9 million, down 0.9% year-over-year excluding revenues from eSpeed platform sale.
- Pre-tax distributable earnings were $56.2 million, up 24.7% year-over-year.
- Financial Services revenues were $287.1 million, down 4.4% excluding eSpeed, with pre-tax margins of 20.6%. Real Estate revenues were $149.8 million with pre-tax margins of 10.1%.
- Industry volumes and volatility remained low compared to historical levels, challenging Financial Services business.
BGC Partners reported financial results for the first quarter of 2015 with revenues increasing 26.5% year-over-year to $563.9 million. Pre-tax distributable earnings were up 33.7% to $75.2 million compared to the prior year. The financial services segment saw revenues increase 24% to $355.7 million driven by the consolidation of GFI Group and increased activity in foreign exchange, equities, energy and commodities. Real estate services revenues were also up 34% to $200.4 million, led by increases in capital markets and leasing. BGC expects to realize annual cost synergies of $50-$90 million from the integration of GFI Group.
BGC Partners held an earnings presentation for Q2 2015. The presentation included the following key points:
- Revenues for Q2 2015 were $684.6 million, up 59.1% from Q2 2014, with pre-tax distributable earnings of $77.5 million, up 46.3%.
- Financial services revenues were $435 million, up over 60% due to the consolidation of GFI Group, while real estate revenues were $239.7 million, up 61%.
- BGC maintains a diverse revenue base across different asset classes and geographies to reduce risk.
Q22015 earnings presentation v final (working version)irbgcpartners
BGC Partners reported financial results for the second quarter of 2015. Revenues increased 59% compared to the second quarter of 2014, driven by the consolidation of GFI Group. Financial services revenues grew over 60% and pre-tax profits increased over 37% compared to the prior year. Volatility levels increased across most asset classes, which typically drives increased demand for hedging. The strengthening US dollar negatively impacted non-US revenues.
This document provides an earnings presentation for BGC Partners for Q2 2015. It includes a disclaimer regarding forward-looking statements. There are then sections summarizing key financial results for Q2 2015 compared to Q2 2014, including a 59.1% increase in revenues and a 48.6% increase in post-tax distributable earnings. Subsequent sections provide breakdowns of revenue and headcount by business segment and geographic region, as well as details on revenue composition and industry volumes.
Q22015 earnings presentation v final (working version)irbgcpartners
BGC Partners reported financial results for Q2 2015 with revenues up 59% year-over-year and distributable earnings per share up 38.5% year-over-year. Financial services revenues increased over 60% due to the consolidation of GFI Group, while real estate services revenues grew 61%. Market volatility increased across most asset classes, contributing to higher trading activity. BGC maintained a diverse revenue base across geographic regions, products, and services.
1) The document is BGC Partners' Q3 2014 investor presentation which provides an overview of the company's Financial Services and Real Estate Services segments.
2) BGC Partners has diversified revenues across geographies and asset classes in Financial Services and product categories in Real Estate Services.
3) The company has a history of successful acquisitions that have been accretive to earnings and expanded its services, and continues to selectively acquire businesses.
This document provides an earnings presentation for BGC Partners for Q3 2014. Some key highlights include:
- Revenues for Q3 2014 were $449.8 million, up 8.5% from Q3 2013. Pre-tax distributable earnings were $65.8 million, up 75.8% from Q3 2013.
- Financial services revenues were $261.2 million, with pre-tax earnings of $55 million. Real estate revenues were $179.1 million, with pre-tax earnings of $23.9 million.
- BGC also announced a tender offer to acquire GFI Group for $5.25 per share in cash, representing a premium to GFI's previous
BGC Partners released earnings results for the fourth quarter of 2013. Some key highlights include:
- Revenues for the quarter were $432.9 million, down slightly from $436.3 million in the same period in 2012.
- Pre-tax distributable earnings were $46 million, up 31% from $35.1 million in Q4 2012.
- The Board of Directors declared a quarterly cash dividend of $0.12 per share.
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FY 2012
FY 2013
Q4 2012
Q4
January 2016 General Investor Presentationirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's solid business model, diversified revenues, profitable acquisitions, growing electronic business, and expectations for continued dividend payments. Financial highlights from 3Q2015 show strong revenue and earnings growth compared to the prior year.
BGC Partners reported financial results for Q2 2014 with revenues of $430.3 million, down 8.7% from Q2 2013. Pre-tax distributable earnings were $53 million, down slightly by 1.6% year-over-year. The company declared a quarterly cash dividend of $0.12 per share. Financial services revenues were $271.5 million while real estate revenues were $149.1 million. Industry volatility and trading volumes remained low compared to prior periods, challenging BGC's financial performance.
The document is BGC Partners' 4Q 2013 earnings presentation. It provides an overview of BGC Partners' 4Q 2013 financial results compared to 4Q 2012, including a 41.9% increase in post-tax distributable earnings per share. It also discusses segment results, with Financial Services revenues down slightly and Real Estate Services revenues up significantly. Additionally, it reviews drivers and trends across various financial products and asset classes.
The document is BGC Partners' 4Q 2013 earnings presentation. It provides an overview of BGC Partners' 4Q 2013 financial results compared to 4Q 2012, including a 41.9% increase in post-tax distributable earnings per share. It also discusses segment results, with Financial Services revenues down slightly and Real Estate Services revenues up significantly. Additionally, it reviews BGC's business lines, product diversity, front office metrics, and provides context around current market conditions.
September 2016 general investor presentationirbgcpartners
BGC's Financial Services segment saw year-over-year growth in pre-tax distributable earnings of 6% in 2Q2016. The segment's pre-tax distributable earnings margins expanded 260 basis points despite the sale of Trayport, which had high margins of approximately 45%. BGC's fully electronic FENICS business saw revenues and pre-tax earnings increase 6% and 19% respectively through organic growth, with pre-tax margins expanding 545 basis points. Voice/hybrid credit revenues were up 3% and energy & commodities revenues up 4% year-over-year. BGC reached its $100 million cost savings target from the GFI acquisition two quarters ahead of schedule and now expects $
BGC Partners presented at an investor conference in June 2013. The presentation discussed BGC's forward-looking statements and provided an overview of the company's business segments and financial performance. It noted that BGC has two business segments - Financial Services and Real Estate Services - and that it aims to grow through hiring, acquisitions, and expanding its fully electronic trading platform. The presentation also provided details on BGC's recent sale of its eSpeed business to NASDAQ OMX and outlined its plans for using the sale proceeds.
- BGC Partners reported financial results for Q4 2014 with revenues of $515.5 million, up 19.1% from Q4 2013. Pre-tax distributable earnings were $72.6 million, up 57.8% from the prior year.
- The company declared a quarterly cash dividend of $0.12 per share to be paid in March 2015.
- Revenues increased in the Americas by 31% year-over-year while declining slightly in EMEA and APAC. Real estate comprised 48% of total revenues, the largest percentage in company history.
3 q16 earnings presentation vfinal final irbgcpartners
BGC Partners reported financial results for the third quarter of 2016. Total revenues decreased 6% year-over-year to $643.5 million due to lower volumes in foreign exchange, equities, and commodities markets. However, pre-tax distributable earnings increased 8% to $106.8 million and margins expanded to 16.6% due to cost cutting measures and growth in higher margin electronic businesses. Financial Services revenues declined 13% but pre-tax earnings rose 2% and margins improved 350 basis points from increased contributions from fully electronic trading. Real Estate Services revenues grew 4% primarily from strong capital markets performance.
This document provides an investor presentation by BGC Partners, Inc. for June 2013. It discusses forward-looking statements and risks, financial metrics such as distributable earnings and adjusted EBITDA, an overview of BGC's two business segments of financial services and real estate services, and details on the eSpeed transaction where BGC will sell its U.S. Treasury trading platform to NASDAQ OMX. It also provides segment revenue breakdowns, growth opportunities in electronic trading, and the diversification of BGC's financial services business.
BGC Partners reported financial results for the third quarter of 2015. Revenues increased 55.8% to $700.9 million compared to the third quarter of 2014, driven by the acquisition of GFI Group. Pre-tax distributable earnings were up 33.9% to $88.1 million. The fully electronic division, FENICS, saw revenues increase 142% and pre-tax earnings rise 82% over the prior year. BGC maintained a diverse revenue base across its business segments and geographies.
BGC Partners reported financial results for the fourth quarter and full year of 2016. For the quarter, revenues were $673.2 million, down slightly from the previous year, while pre-tax distributable earnings increased 27.7% to $129.1 million. For the full year, revenues increased 1.2% to $2.6 billion and pre-tax distributable earnings rose 18.1% to $425.4 million. The financial services segment saw a 5% revenue decline for the quarter and a 2% decline for the year, while real estate services revenue increased 7% for the quarter and 6% for the year, driven by strong capital markets growth.
Lkq second quarter 2016 earnings call presentationcorporationlkq
- LKQ reported financial results for the second quarter of 2016, with revenue increasing 33.3% year-over-year to $4.4 billion driven by organic growth and acquisitions. Net income was $140.7 million for Q2 2016 compared to $119.7 million for the same period in 2015.
- Segment EBITDA margin increased to 13.0% for Q2 2016 from 12.7% in Q2 2015. Revenue growth was driven by organic growth in parts and services of 5.4% as well as acquisition growth including the addition of the glass segment through the acquisition of PGW.
- For the first half of 2016, revenue increased 21.0% to $
September 2016 general investor presentationv v final 9 14-16irbgcpartners
BGC Partners reported strong year-over-year growth in distributable earnings for the second quarter of 2016 and full year 2015. For the second quarter, pre-tax distributable earnings increased 6.7% year-over-year driven by growth in the Financial Services segment, particularly in its fully electronic FENICS business. BGC's business is diversified by geography, asset class, and between its Financial Services and Real Estate Services segments. The company has a track record of successful acquisitions that have been accretive to earnings.
BGC Partners held an earnings presentation for Q3 2013. Key highlights included:
- Revenues for Q3 2013 were $414.4 million, down 7% from Q3 2012.
- Pre-tax distributable earnings per share were $0.12 for Q3 2013, down 25% from Q3 2012.
- Adjusted EBITDA was $78.7 million for Q3 2013, up 24% from Q3 2012.
- The presentation provided financial results and analysis for BGC's business segments and products.
BGC Partners held an earnings presentation for Q3 2013. Some key highlights included:
- Revenues for Q3 2013 were $414.4 million, down 7% from Q3 2012.
- Pre-tax distributable earnings per share were $0.12 for Q3 2013, down 25% from $0.16 in Q3 2012.
- Adjusted EBITDA was $78.7 million for Q3 2013, up 24% from $63.7 million in Q3 2012.
BGC plans to use the proceeds from the sale of its eSpeed platform to NASDAQ OMX to repay debt, make acquisitions, invest in organic growth, and repurchase shares
The document discusses forward-looking statements and risks associated with them. It notes that any forward-looking statements are based on information available at the time and that actual results may differ due to risks and uncertainties outlined in SEC filings. The document also provides an overview of LKQ Corporation, including its mission, strategic initiatives, operating segments, European and North American markets, and historical financial performance. It achieved strong organic revenue growth and has pursued an acquisition strategy focused on markets where it can be a leader.
BGC Partners reported strong financial results for Q4 2015 and FY 2015. Revenues for Q4 2015 were up 34% to $692 million and up 43% for FY 2015 to $2.64 billion. Pre-tax distributable earnings were up 26% for Q4 2015 and 34% for FY 2015. BGC maintained a highly diverse revenue base across its financial services and real estate segments. The company has a strong liquidity position of over $1 billion and low leverage of 0.96x, maintaining an investment grade credit profile.
BGC Partners reported financial results for the second quarter of 2016. Revenues declined slightly year-over-year but pre-tax and post-tax distributable earnings increased due to improved margins. The financial services segment saw higher pre-tax profits and margins despite the sale of the Trayport business, driven by growth in fully electronic trading. BGC completed its acquisition of Sunrise Brokers Group and CRE Group to expand its offerings.
Raymond James 12th Annual North American Equities Conferencecorporationlkq
The document discusses forward-looking statements and the risks associated with them. It notes that actual results may differ from projections and that all statements are based on information available at the time and may be updated. Risks that could affect projections are discussed in annual and quarterly SEC filings.
June 2016 general investor presentationirbgcpartners
This presentation provides an overview of BGC Partners, a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams, growth opportunities through acquisitions and hiring, and expectations around cost savings and future dividend payments. Key metrics on revenue, earnings, and staffing are presented for the first quarter of 2016 and full year 2015 to illustrate the company's financial performance and stability.
BGC Partners reported first quarter 2016 earnings. Financial highlights included revenues of $660.1 million, up 17.1% from the first quarter of 2015. Pre-tax distributable earnings were $90.8 million, up 20.7% year-over-year. The company saw revenue growth across all regions. BGC's board also declared a quarterly cash dividend of $0.16 per share, an increase of 14.3% from the prior year. Financial Services revenues increased 23% due to the acquisition of GFI Group, while pre-tax earnings for the segment rose over 31% and margins expanded. Real Estate Services revenues grew over 7% from organic growth and acquisitions.
BGC Partners reported strong financial results for the second quarter of 2017. Total revenues increased 12.8% to $737.8 million compared to the second quarter of 2016. Pre-tax distributable earnings were $131.5 million, up 27% year-over-year, resulting in a pre-tax distributable earnings margin of 17.8%. Financial services revenues grew 10% to $432.3 million, while pre-tax earnings increased 38% to $111 million and the pre-tax margin expanded over 500 basis points. Real estate services revenues rose 16.6% to $295.3 million, with pre-tax earnings up 38% and margins improving 190 basis points. BGC also announced
BGC Partners is a global brokerage firm with two main business segments: Financial Services and Real Estate Services. In the first quarter of 2017, BGC saw strong year-over-year growth in distributable earnings per share of 27.8% and adjusted EBITDA of 36.3%, driven by increases in both its Financial Services and Real Estate Services segments. The document provides an overview of BGC's business lines and products within each segment.
November 2016 general investor presentation v finalirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams by geography, product class, and business line. The document also highlights BGC's strong track record of growth, liquidity position, and opportunities from acquisitions and rising interest rates. Financial tables show year-over-year growth in distributable earnings for the third quarter of 2016.
March 2017 general investor presentation v finalirbgcpartners
BGC Financial Services reported strong results for 4Q 2016. Pre-tax distributable earnings were up over 25% and the pre-tax distributable earnings margin expanded by around 600 basis points. Rates revenues increased over 7% and fully electronic credit revenues grew 13%. The integration of the GFI acquisition was completed successfully, achieving annualized synergies above $125 million. Distributable earnings and margins improved due to the GFI integration and reduced expenses. Trayport, which was sold in 4Q 2015, generated $15.8 million in revenues in 4Q 2015 compared to none in the current quarter. BGC has a track record of successful, accretive acquisitions in Financial Services.
The document is an investor presentation by Newmark Group, Inc. discussing the rationale for and benefits of spinning off from BGC Partners. Key points include:
- The spin-off would finalize the separation of Newmark and BGC Partners and enhance Newmark's ability to invest and grow its business independently.
- It would give Newmark more flexibility to return capital to shareholders and increase the liquidity of Newmark stock.
- The spin-off can be done in a tax-efficient manner for both Newmark and its shareholders without materially impacting their financial or credit profiles.
Newmark Group, Inc. presented an investor presentation in November 2018. The presentation discussed Newmark's full suite of commercial real estate services, the rationale for and benefits of spinning off from BGC Partners, and Newmark's strong operating performance and outperformance of the commercial real estate industry in 2018. Newmark has consistently grown its adjusted EBITDA and expanded its margins since its IPO through both organic growth and acquisitions.
The document discusses BGC Partners' earnings presentation for the third quarter of 2018. It provides an overview of BGC Partners' consolidated financial results for the third quarter, including an 18.2% increase in revenues year-over-year. It also summarizes the key drivers of the Financial Services segment's performance, including a 7% increase in revenues driven by double-digit growth in brokerage revenues for energy and commodities. Pre-tax adjusted earnings for the segment increased approximately 6% year-over-year.
This document provides an overview of BGC Partners, Inc. and its subsidiaries, including Newmark Group. It discusses BGC's financial services and real estate services segments. For financial services, it notes the voice/hybrid and fully electronic Fenics businesses. For real estate services, it outlines Newmark's commercial real estate services. It also provides consolidated revenue breakdowns by segment and region. The document contains various disclaimers about forward-looking statements, non-GAAP financial measures, and definitions of terms. It highlights BGC's diversified businesses and growth opportunities, as well as the planned spin-off of Newmark by year-end 2018.
This document provides an overview of BGC Partners, Inc. and its subsidiaries, including Newmark Group. It discusses BGC's financial services and real estate services segments. For financial services, it notes the voice/hybrid and fully electronic Fenics businesses. For real estate services, it outlines Newmark's commercial real estate services. It also provides consolidated revenue breakdowns by segment and product type. The document discusses BGC's strategy to grow its profitable Fenics business and complete the planned spin-off of Newmark by year-end 2018.
The document provides an earnings presentation for BGC Partners for the second quarter of 2018. It includes disclaimers about forward-looking statements and non-GAAP financial measures. The summary highlights consolidated revenue growth of 13.1% year-over-year for the second quarter. Pre-tax adjusted earnings grew 30.3% and post-tax adjusted earnings grew 24.6% over the same period. Financial results are broken down by segment and geography. Compensation and productivity metrics for front office employees in each segment are also presented, along with trends in expenses and pre-tax margins.
This document provides an earnings presentation for BGC Partners, Inc. for the second quarter of 2018. It includes forward-looking statements and non-GAAP financial measures. Key highlights include revenues increasing 13.1% year-over-year to $960.1 million. GAAP income from operations before taxes declined 30.1% to $65.9 million while post-tax Adjusted Earnings, a non-GAAP measure, rose 24.6% to $144.1 million. The presentation also provides segment results and definitions for non-GAAP terms used.
This document provides an overview of BGC Partners' annual stockholders meeting on June 20, 2018. It includes disclaimers about forward-looking statements and non-GAAP financial measures. The highlights section summarizes BGC's consolidated financial results for the first quarter of 2018, showing increases in revenues, net income, adjusted earnings, and adjusted EBITDA compared to the first quarter of 2017. It also discusses BGC's proposed spin-off of Newmark Group and provides an outlook for BGC's second quarter 2018 consolidated revenues and adjusted earnings.
- BGC Partners' Financial Services segment revenues increased 17% year-over-year to $516.6 million in the first quarter of 2018, driven by double-digit percentage increases in brokerage revenues across rates, foreign exchange, equities, insurance, and energy and commodities.
- Pre-tax Adjusted Earnings for the segment increased approximately 31% year-over-year, with pre-tax margins rising to 25%, 270 basis points higher than the prior year.
- The growth was primarily organic across equities, insurance, and other asset classes, as well as from other products such as rates, foreign exchange, and energy and commodities.
This document provides an overview of BGC Partners, Inc. for an analyst day presentation in May 2018. It includes disclaimers about forward-looking statements and non-GAAP financial measures. The document also provides information on BGC's financial services and real estate services segments, noting the revenues for each segment. It highlights some of the acquisitions and growth BGC has experienced since 2014, more than doubling revenues in some of its businesses. The document is intended to inform analysts about BGC's current business and performance.
This document provides an agenda and overview for an analyst day presentation by BGC Partners, Inc. It includes discussions of the company's financial overview, Fenics electronic markets and solutions businesses, Besso insurance brokerage, and Sunrise Brokers. Newmark, a subsidiary of BGC Partners, will also present. The document provides disclaimers regarding forward-looking statements and reconciliations between GAAP and non-GAAP financial measures. It outlines BGC Partners leadership including Chairman and CEO Howard Lutnick and CFO Steve McMurray. The agenda spans from 10:00am to 12:35pm and includes an introduction, multiple business segment presentations, Q&A, and lunch.
This document provides an agenda and overview for an analyst day presentation by BGC Partners, Inc. It includes discussions of the company's financial overview, Fenics electronic markets and solutions, Besso Insurance, Sunrise Brokers, and Newmark. It also notes that Howard Lutnick is the Chairman and CEO of BGC Partners and has held leadership roles at Cantor Fitzgerald since 1983. Disclaimers are provided regarding forward-looking statements, financial metrics, terminology, and non-GAAP financial measures.
1 q2018 bgcp earnings presentation vfinal final 1135pmirbgcpartners
BGC Partners held an earnings presentation for its first quarter 2018 financial results. Some key highlights included total revenues increasing 22% year-over-year and pre-tax adjusted earnings increasing 55% year-over-year. Financial services revenues were up 17% driven by double digit growth across various asset classes. Real estate services revenues increased 28% in the Americas. The presentation provided an overview of BGC Partners' business segments and financial performance.
BGC Partners reported financial results for 4Q 2017 and FY 2017. Revenues increased 18.3% for 4Q 2017 and 15.3% for FY 2017 compared to the prior year periods. Pre-tax and post-tax adjusted earnings, as well as adjusted earnings per share, increased for both periods compared to the previous years, reflecting strong financial performance. BGC also declared a $0.18 per share quarterly cash dividend to shareholders of record in February 2018.
- BGC Partners reported financial results for the third quarter of 2017 with total revenues of $827 million, up 12.5% year-over-year, and pre-tax distributable earnings of $156.6 million, up 28.4% year-over-year.
- Financial Services revenues were $416.7 million in 3Q 2017, with pre-tax earnings of $87.6 million, excluding the impact of Nasdaq payments. Real Estate Services revenues were $399.4 million, with pre-tax earnings of $66.9 million, excluding Nasdaq payments.
- BGC maintains a highly diverse revenue base across its Financial Services and Real Estate Services segments, with
General investor presentation september 2017irbgcpartners
BGC Partners provides an overview of its Financial Services segment. The segment includes voice/hybrid brokerage and fully electronic trading (FENICS). In 2Q 2017, voice/hybrid accounted for 87% of segment revenues and pre-tax distributable earnings were up 38% year-over-year with margins expanding over 500 basis points. Product revenues were diversified across rates, foreign exchange, credit, and other asset classes. BGC expects regulatory reform, rising interest rates, and a growing global economy to drive further opportunities in Financial Services.
The acquisition of Berkeley Point dramatically increases the scope, scale, and revenues of BGC's Real Estate Services segment. Berkeley Point has experienced strong growth, with revenues increasing 55% year-over-year and GAAP pre-tax income excluding non-cash MSR income increasing 52% year-over-year for the twelve months ended March 31, 2017. The combination is expected to be a powerful catalyst for growth across BGC's real estate services businesses.
BGC Partners reported financial results for the first quarter of 2017, with revenues increasing 10.4% year-over-year to $707.4 million. Pre-tax distributable earnings were up 37.6% to $121.5 million compared to $88.3 million in the prior year quarter. Financial services revenues grew 6% to $441.2 million, driven by higher rates and acquisitions, while pre-tax earnings increased 13% with margins up 160 basis points. Real estate services revenues increased 20% to $258 million due to strong organic growth. BGC maintained a highly diversified revenue base and continues to benefit from acquisition synergies.
4. Date
SOLID BUSINESS WITH SIGNIFICANT OPPORTUNITIES
Two segments: Financial Services & Real Estate Services
Diversified revenues by geography & product category
$90 million of synergies and economies of scale expected from the GFI transaction
Accretively acquiring and selectively hiring
Growing fully electronic trading
Intermediary-oriented, low-risk business model
Deep and experienced management team with ability to attract and retain key talent
Increased dividend 17% to $0.14 per share, which at current stock price ≈ 6% yield
Note: BGCP dividend yield calculated based on closing stock price at May 20, 2015
4
5. Date
1 FIRM, 2 SEGMENTS, MANY BUSINESSES
Brokerage Services:
• Investment Sales
• Leasing
• Capital Raising
Key products include:
• Rates
• Credit
• Foreign Exchange (“FX”)
• Equities
• Energy & Commodities
2,579 brokers & salespeople
> 200 Financial desks
In 30+ cities
Fully ElectronicVoice/Hybrid
Key products include:
• Interest Rate Derivatives
• Credit
• FX
• Energy & Commodities
• Global Gov’t Bonds
• Equity Derivatives
• Market Data
• Software Solutions
Proprietary network
connected to the global
financial community
Substantial investments in
creating proprietary
technology / network
Financial Services
FY 2015 Revenue Goal = $1 billion
TTM 1Q’15 Pre-Tax Margin ≈ 13%
TTM 1Q’15
Rev ≈ $116 MM
Pre-Tax Margin ≈ 53%
TTM 1Q’15
Rev ≈ $1,033MM
Pre-Tax Margin ≈ 17%
Note: Trailing twelve month (“TTM”) segment figures exclude Corporate revenues and pre-tax loss of $34 million and $67
million, respectively. Financial Services revenues & margins exclude Trayport
Real Estate Services
Commercial Real Estate
5
Other Services:
• Global Corporate
Services (consulting)
• Valuation
• Property & Facilities
Management
1,293 brokers & salespeople
In 50+ cities
Total CompanyTTM 1Q’15 revenues on a pro forma basis (including GFI) were $2.8 billion
6. Date
Retail disposition, lease
restructuring, renewal and
valuation services
Excess Space (h)
Philadelphia
Commercial
Brokerage
Smith Mack
STRONG RECORD OF SUCCESSFUL, ACCRETIVE ACQUISITIONS
(a) BGC acquired Marex Financial’s emerging markets business. (b) BGC acquired various assets and businesses of Mint Partners and Mint Equities. (c) BGC acquired all of the
outstanding shares of Newmark & Company Real Estate, Inc., which operates as “Newmark Knight Frank” in the United States and is associated with London-based Knight Frank.
(d) BGC acquired substantially all the assets of Grubb & Ellis. (e) BGC acquired the assets of HEAT Energy Group during Q1 2014. (f) Closed on 8-14-2014. (g) BGC owned 67%
of shares as of 4/29/2015. (h) Deals announced but not yet closed.
6
London
Mainly Equities
Mint Partners/
Mint Equities (b)
Across U.S.
Leasing & Capital Markets
Brokerage
Newmark Knight
Frank (c)
Across U.S.
Property & Facilities
Management
Leasing & Capital
Markets Brokerage
Grubb & Ellis (d)
Across U.S.
Municipal Bonds
Wolfe & Hurst
20132005 - 2009 2010 2011 2012
Paris
Credit, Swaps
Ginalfi
Multihousing
investment brokerage
National Coverage
ARA
U.K.
Rates
Sterling
Real EstateFinancial Services
Key
N. California / Silicon
Valley
Commercial Brokerage
Cornish & Carey (f)
New York / New Jersey /
Florida
Regional Power Markets
/ Nat Gas Swaps
HEAT Energy (e)
2014
Environmental
brokerage
CO2e
Mexico
Rates
Bonds
Remate Lince
Denver
Commercial
Brokerage
Frederick Ross
2015
Global
Commodities
Rates
FX
Credit
Equities
GFI Group (g)
6
Multihousing investment
CRE-related IT consulting
and technology services
Computerized Facility
Integration (h)
Maxcor/Eurobrokers (2005)
ETC Pollack (2005)
Aurel Leven (2006)
AS Menkul (2006)
Marex Financial(a) (2007)
Radix Energy (2008)
Liquidez (2009)
7 Financial Services
Acquisitions
London
Rates, FX
R.P. Martin
7. Date
STRONG REVENUE AND EARNINGS GROWTH
On April 28, 2015, BGC Partners’ Board of Directors declared a quarterly cash dividend of
$0.14 per share, representing a 16.7% sequential and year-over-year increase
Q2’15 Outlook:
o Distributable earnings revenues +51% to +58% and between $650 million and $680
million
o Pre-tax distributable earnings +32% and +51% and between $70 million and $80
million
Highlights of Consolidated Results
(USD millions, except per share data)
Q1 2015 Q1 2014
Change
(%)
Revenues for distributable earnings $563.9 $445.9 26.5
Pre-tax distributable earnings before non-controlling interest
in subsidiaries and taxes
75.2 56.2 33.7
Pre-tax distributable earnings per share 0.22 0.17 29.4
Post-tax distributable earnings 62.1 47.2 31.5
Post-tax distributable earnings per share 0.18 0.15 20.0
Adjusted EBITDA 117.1 74.6 56.9
Effective tax rate 15.0% 15.0%
Pre-tax distributable earnings margin 13.3% 12.6%
Post-tax distributable earnings margin 11.0% 10.6%
4
7
8. Date
BGC’S GLOBAL FOOTPRINT
Americas revenue up 28% Y/Y
Europe, Middle East & Africa revenue up 28% Y/Y
Asia Pacific revenue up 10% Y/Y
Strengthening of the U.S. dollar reduced non-U.S. Financial Services revenues by over $20 million during
the quarter, primarily concentrated in EMEA
Wholesale Financial Brokers typically seasonally strongest in 1st quarter, weakest in 4th quarter
Commercial Real Estate Brokers typically seasonally strongest in 4th quarter, weakest in 1st quarter
Note: percentages may not sum to 100% due to rounding.
*Includes GFI offices
5
8
EMEA
32%
Americas
Financial
Services
24%
Americas
Real
Estate
36%
APAC
9%
Q1 2015 Revenues
10. Date
1,497 1,519 1,620 1,619
2,579
888 879
1,135 1,244
1,293
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015
Real Estate Financial Brokerage
Q1 2015 Real Estate Services front office average revenue per front office employee was $126,000, up
1% from Q1 2014;
Q1 2015 Financial Services average revenue per front office employee was $184,000, down slightly from
the prior year
BGC’S FRONT OFFICE COUNT AND PRODUCTIVITY DRIVE GROWTH
Front Office ProductivityFront Office Headcount
$162 $160
$619
$636
$0
$100
$200
$300
$400
$500
$600
$700
Q1 2014 Q1 2015 FY 2013 FY 2014
($thousands)
(FrontOfficeEmployees)
Note: The Real Estate figures are based on brokerage revenues, leasing and capital markets brokers, and exclude appraisers and both revenues and staff in management services and “other.” The Financial
Services calculations in the above table include segment revenues from “total brokerage revenues” “market data,” and “software solutions”, and exclude revenues and salespeople related to Trayport. The average
revenues for all producers are approximate and based on the total revenues divided by the weighted-average number of salespeople and brokers for the period.
2,385 2,398
2,755
2,863
(1)%
10
3,872
12. Date
Energy & Commodities revenues increased over 125%
Fully electronic FX revenues up 80%; overall FX revenues up over 40%
Fully electronic credit and rates up 67% and 54%, respectively
Excluding Trayport, overall fully electronic revenues up 74% and fully electronic pre-tax
distributable earnings up 65% from a year ago
Equities and other revenues increased by 22% as compared to a year ago
FS revenues would have been over $20 million higher if not for the strengthening U.S. Dollar
Q1 2015 FINANCIAL SERVICES SUMMARY
Quarterly Drivers
BGC Financial Services Segment Highlights
12
Consolidation of one month of GFI revenues, addition of HEAT, Remate and R.P. Martin
Increased activity across FX, equities, energy, and commodities, reflected strong demand from
many of our customers
Volatility levels have increased across most asset classes we broker
Market volumes were generally higher across most industry-wide asset classes
12
13. Date
RATES
25%
CREDIT
14%
F/X
14%
EQUITIES
AND OTHER
8%
ENERGY &
COMMODITIES
4%
REAL ESTATE
35%
RATES
23%
CREDIT
17%
F/X
15%
EQUITIES
AND OTHER
11%
ENERGY &
COMMODITIES
9%
REAL ESTATE
25% BGC
(FY 2014)
BGC & GFI
(FY 2014)
BGC AND GFI COMBINATION ADDS TO BROKERAGE REVENUE DIVERSITY
13
Note: Percentages are approximate for rounding purposes.
(USD 000’s)
BGC Standalone
FY 2014
BGC + GFI
FY 2014 % Change
Total Brokerage Revenues 1,579,435 2,214,369 +40.2
13
14. Date
RECENT DEVELOPMENTS REGARDING TRAYPORT AND GFI
14
BGC has retained Cantor Fitzgerald to assist in the sale of Trayport; The
Company expects numerous parties to be interested in acquiring this business
at a valuation that reflects its high margins, growth rate, leading technology,
and importance in the global energy and commodities markets
We anticipate completing a transaction before the end of 2015
BGC now owns approximately 67% of GFI’s outstanding common stock
Expected annualized cost savings of $50 million by end of first year and $90
million by end of second year
Existing GFI top executives run the company and report to BGC’s President;
GFI’s top executives own or are expected to own a substantial amount of BGC
stock and/or units
15. Date
$48,299
$71,401
$77,186
$80,665
98,999
4%
6%
7%
7%
9%
-1%
1%
3%
5%
7%
9%
11%
13%
10,000
30,000
50,000
70,000
90,000
110,000
FY 2010 FY 2011 FY 2012 FY 2013 FY2014
23,501
40,819
8%
12%
-1%
1%
3%
5%
7%
9%
11%
13%
10,000
30,000
50,000
Q1 2014 Q1 2015
15
RETAINED FULLY ELECTRONIC (FE) REVENUE GROWTH HAS OUTPACED
OVERALL FINANCIAL SERVICES, AIDING MARGINS
Fully electronic pre-tax profit increased 65% to $20.5 million
Fully electronic pre-tax margin ≈ 53% for TTM ended March 31, 2015
BGC and GFI collectively had approx. $1.5B of voice/hybrid FS brokerage revenues in 2014 that can be potentially
converted to higher margin fully electronic
Note: ”Fully Electronic” includes “total brokerage revenues” related to fully electronic trading and market data and software solutions, all of which are reported within the
Financial Services segment. Fully electronic revenues exclude $6.1 million of revenues related to Trayport.
USDMillions
Five-Year
Fully Electronic Growth
Year-over-Year
Fully Electronic Growth
15
17. Date
88,262
105,428
21,625
53,84239,942
41,084
Q1 2014 Q1 2015
149,829
200,354
53%
27% 21%
BUSINESS OVERVIEW: REAL ESTATE SERVICES
Q1 2015 Real Estate Services revenues
increased by 34% as compared to last
year
Capital markets revenues increased 149%
from Q1 2014
Leasing and other revenues up over 19%
from a year ago
Pre-tax distributable earnings increased
by 29%
Real Estate Services Revenue
Q1 2015 Real Estate Segment BreakdownNGKF Highlights
(USD000’s)
17
17
Drivers
Superior yields in low interest rate
environment continue to make Real Estate an
attractive investment class
Additions of Cornish and ARA
Strengthening U.S. economy and
accommodative monetary policy aids the Real
Estate recovery
Improved credit environment and availability
Positive industry trends continue in
commercial sales volumes
Leasing and
other services
Real estate
capital markets Management
services and
other revenues
Management
services and other
revenues
Real estate capital
markets
Leasing and other
services
Note: Percentages may not sum to 100% due to rounding
18. Date
RECENT COMMERCIAL REAL ESTATE ACQUISITIONS ENHANCE REAL ESTATE
SERVICES GROWTH
Apartment Realty Advisors (“ARA”)
ARA was the nation’s largest privately held full-service brokerage focusing exclusively on
multifamily capital markets
Approximately 100 brokers nationwide across offices in 28 U.S. cities
Benefiting from strong multifamily real estate trends
Computer Facility Integration, LLC (“CFI”)
CFI provides corporate real estate, facilities management, and enterprise asset management
information consulting and technology solutions
The Company employs 140 people and has been in operation for 25 years
Manages over 3 billion square feet globally for Fortune 500 companies, owner-occupiers,
government agencies, healthcare and higher education clients
Excess Space Retail Services, Inc. (“Excess Space”)
Excess Space is a premier consulting and advisory firm dedicated to real estate disposition and
lease restructuring for retailers throughout the US and Canada
The Company advises some of the nation’s leading supermarkets, department stores, banks,
drug stores and restaurants
Since its establishment in 1992, Excess Space has generated an estimated $4 billion in cost
savings for clients
18
20. Date
CONCLUSION
20
Our goal is to continue focusing on the following in order to increase
profitability and grow our top line:
Accretive acquisitions with returns above our cost of capital across both
businesses
Profitably and selectively adding to front office staff
Integrating GFI into BGC platform saving at least $90 million annually by
the end of 2016
Investing in and expanding our fully-electronic trading platform as well as
market data and software solutions in Financial Services
Growing higher-margin Global Corporate Services (consulting) and
Capital Markets at NGKF
Continue to unlock the significant value of BGC's assets and businesses
Maintain Investment Grade credit rating
20
23. Date
91.8%
88.3%
8.2%
11.7%
Q1 2014 Q1 2015
FINANCIAL SERVICES REVENUE BREAKOUT
113,672 122,011
52,066
72,941
65,446
67,175
29,696
36,215
13,054
29,404
13,211
21,893
6,077
Q1 2014 Q1 2015
Equities and
other
Foreign
exchange
Credit
Rates
1. Includes $15.4MM and $9.4MM related to the Nasdaq earnout in Q1 15 and Q1 14, respectively and excludes $6.1MM of Trayport revenues in Q115
2. Excludes $6.1MM of revenues related to Trayport
Fully
Electronic2
Voice
Brokerage &
Other1
$287,145
$355,716
FS Revenue Composition
Market data, software
solutions and other1
+125%
+22%
+3%
+40%
+7%
% Change
23
Financial Services Revenue Composition
Trayport
Energy and
commodities
+66%
NMF
+24%
24. Date
$0
$5
$10
$15
$20
$25
$30
$35
$40
1Q01 1Q02 1Q03 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12 1Q13 1Q14
BGC WELL POSITIONED TO TAKE ADVANTAGE OF STRONG MULTIFAMILY
REAL ESTATE TRENDS
Historical U.S. Sales Volume
($Billions)
BGC’s Q4’14 acquisition of Apartment
Realty Advisors (“ARA”) the nation’s
largest privately held full-service
brokerage focusing exclusively on
multifamily capital markets has
positioned the Company to take
advantage of strong multifamily trends
The 2015 Fannie Mae and Freddie
Mac lending caps have been
increased by the FHFA. Increased
lending caps acts as a boon to
multifamily agency property sales and
financing
The Multifamily space saw $112.4
billion in sales activity in 2014,
reflecting a 9% net increase from
2013. This strong trend continued in
Q1’15, which totaled $33 billion, up
68% from Q1’14
Source: Newmark Grubb Knight Frank Research, Real Capital Analytics
24
28%
25%
23% 22% 22%
14% 14%
12% 12%
0%
5%
10%
15%
20%
25%
30%
Change in Rental Population
2006-2013
25. Date
BGC PARTNERS COMPENSATION RATIO
$793.5
$1,036.8
$1,091.2
$1,128.5
$275.4
$348.1
53.8%
59.2%
61.7% 61.3%
61.8%
61.7%
40%
50%
60%
70%
80%
90%
100%
$0
$200
$400
$600
$800
$1,000
$1,200
2011 2012 2013 2014 Q1 2014 Q1 2015
($millions)
Compensation and Employee Benefits Compensation and Employee Benefits as % of Total Revenue
BGC Partners Compensation Ratio was 61.7% in Q1 2015 vs. 61.8% in Q1 2014
Commercial Real Estate brokers generally have a higher compensation ratio than IDBs with
significant electronic trading revenues
25
25
26. Date
NON-COMPENSATION EXPENSES & PRE-TAX MARGIN
16.1%
11.2%
10.3%
13.4% 13.3%
30.2%
29.6%
28.0%
25.3%
24.9%
0%
10%
20%
30%
40%
50%
FY 2011 FY 2012 FY 2013 FY 2014 Q1 2015
Pre-tax distributable earnings as % of Total Revenue Non-comp Expenses as a % of Total Revenue
Non-comp expenses were 24.9% of distributable earnings revenues in Q1 2015 vs. 25.6% in Q1 2014
Pre-tax distributable earnings margin was 13.3% in Q1 2015 vs. 12.6% in Q1 2014
Post-tax distributable earnings margin was 11.0% in Q1 2015 vs. 10.6% in Q1 2014
Real Estate Services pre-tax margins are typically seasonally slowest in the first quarter
26
27. Date
EXPECTED GFI COST SYNERGIES AND ANNUAL RUN RATE SAVINGS
27
Year 1
Year 2
$50 Million
(annualized run rate)
$90 Million
(annualized run rate)
Network infrastructure
Telephone lines
Vendors
Disaster recovery
Interest expense
Data centers
Duplicative real estate
Other support expenses
Planned GFI Integration Cost Savings / Synergies
Additional Balance Sheet efficiencies expected from release of duplicative
capital currently used for clearing & regulatory purposes
28. Date
BGC’S ECONOMIC OWNERSHIP AS OF APRIL 30, 2015
Public
43%
Cantor
26%
Employees,
Executives,
& Directors
31%
Note: Employees, Executives, and Directors ownership figure attributes all units (PSUs, FPUs, RSUs, etc.) and distribution rights to founding partners & employees and also
includes all A shares owned by BGC executives and directors. Cantor ownership includes all A and B shares owned by Cantor as well as all Cantor exchangeable units and certain
distribution rights. Public ownership includes all A shares not owned by executives or directors of BGC. The above chart excludes shares related to convertible debt. Subsequent to
March 31st, 2015, BGC’s $150.0 million of 8.75% Convertible Senior Notes, due April 15, 2015, were fully converted into 24.0 million Class A common stock and issued to Cantor
Fitzgerald L.P. This issuance will have no impact on BGC’s fully diluted share count for distributable earnings.
28
28
29. Date
AVERAGE EXCHANGE RATES
Source: Oanda.com
29
29
Average
Q1 2015 Q1 2014 April 1 - April 24, 2015 April 1 - April 24, 2014
US Dollar 1 1 1 1
British Pound 1.516 1.655 1.484 1.671
Euro 1.129 1.370 1.077 1.380
Hong Kong Dollar 0.129 0.129 0.129 0.129
Singapore Dollar 0.737 0.788 0.737 0.797
Japanese Yen* 119.170 102.840 119.600 102.560
* Inverted
32. Date
ADJUSTED EBITDA
32
32
BGC Partners, Inc.
Reconciliation of GAAP Income to Adjusted EBITDA
(and Comparison to Pre-Tax Distributable Earnings)
(in thousands) (unaudited)
Q1 2015 Q1 2014
GAAP Income from continuing operations before income taxes 36,270$ 11,246$
Add back:
Employee loan amortization 8,066 7,090
Interest expense 15,902 9,335
Fixed asset depreciation and intangible asset amortization 16,599 10,819
Impairment of fixed assets 4,484 4,704
Exchangeability charges (1) 36,572 29,137
(Gains) losses on equity investments (803) 2,275
Adjusted EBITDA 117,090$ 74,606$
Pre-Tax distributable earnings 75,199$ 56,243$
(1) Represents non-cash, non-economic, and non-dilutive charges relating to grants of exchangeability to limited partnership units
33. Date
33
RECONCILIATION OF INCOME UNDER GAAP TO DISTRIBUTABLE EARNINGS
33
Q1 2015 Q1 2014
GAAP income before income taxes 36,270$ 11,246$
Pre-tax adjustments:
Dividend equivalents to RSUs - 3
Non-cash (gains) losses related to equity investments, net (803) 2,275
Real Estate purchased revenue, net of compensation and other expenses (a) 3,170 748
Allocations of net income and grant of exchangeability to limited partnership units and FPUs 37,054 31,323
NASDAQ OMX earn-out revenue (b) 12,484 11,612
Gains and charges with respect to acquisitions, dispositions and / or resolutions of litigation, charitable contributions
and other non-cash, non-dilutive, non-economic items (c) (12,976) (964)
Total pre-tax adjustments 38,929 44,997
Pre-tax distributable earnings 75,199$ 56,243$
GAAP net income available to common stockholders 14,055$ 8,008$
Allocation of net income to noncontrolling interest in subsidiaries 10,382 1,933
Total pre-tax adjustments (from above) 38,929 44,997
Income tax adjustment to reflect effective tax rate (1,234) (7,692)
Post-tax distributable earnings 62,132$ 47,245$
Pre-tax distributable earnings per share (d) 0.22$ 0.17$
Post-tax distributable earnings per share (d) 0.18$ 0.15$
Fully diluted weighted-average shares of common stock outstanding 378,744 362,087
Notes and Assumptions
(a) Represents revenues related to the collection of receivables, net of compensation, and non-cash charges on acquired receivables, which would
have been recognized for GAAP other than for the effect of acquisition accounting.
(b) Distributable earnings for the first quarter of 2015 and 2014 includes $12.5 million and $11.6 million, respectively, of adjustments associated with the NASDAQ OMX
transaction. For Q1 2015 and Q1 2014 the revenues related to the NASDAQ OMX earn-outs were $2.9 million and $(2.2) million for GAAP and $15.4 million and
$9.4 million for distributable earnings, respectively.
(c) Q1 2015 includes the recognition $29.0 million realized gain on the 17.1 million shares of GFI common stock owned by BGC prior to the successful completion
of the tender offer to acquire GFI on February 26, 2015.
(d) On April 1, 2010, BGC Partners issued $150 million in 8.75 percent Convertible Senior Notes due 2015 and on July 29, 2011, BGC Partners issued $160 million
in 4.50 percent Convertible Senior Notes due 2016. The distributable earnings per share calculations for the quarters ended March 31, 2015 and 2014
include approximately 40 million of additional shares, underlying these Notes. The distributable earnings per share calculations exclude the interest expense,
net of tax, associated with these Notes.
Note: Certain numbers may not add due to rounding.
BGC Partners, Inc.
RECONCILIATION OF GAAP INCOME TO DISTRIBUTABLE EARNINGS
(in thousands, except per share data)
(unaudited)
34. Date
34
RECONCILIATION OF REVENUES UNDER U.S. GAAP AND DISTRIBUTABLE EARNINGS
34
BGC Partners, Inc.
RECONCILIATION OF REVENUES UNDER GAAP AND DISTRIBUTABLE EARNINGS
(in thousands)
(unaudited)
Q1 2015 Q1 2014
GAAP Revenue 547,567$ 444,789$
Plus: Other Income (losses), net 32,561 (4,498)
Adjusted GAAP 580,128 440,291
Adjustments:
NASDAQ OMX Earn-out Revenue (1) 12,484 11,612
Revenue with respect to acquisitions, dispositions, resolutions of litigation, and other (2) (29,879) (8,973)
Non-cash (gains) losses related to equity investments (803) 2,275
Real Estate purchased revenue 1,965 717
Distributable Earnings Revenue 563,895$ 445,922$
(1) Q1 2015 and Q1 2014 revenues related to the NASDAQ OMX earn-out shares were $2.9 million and $(2.2) million for GAAP and $15.4 million and $9.4 million
for distributable earnings, respectively.
(2) Q1 2015 includes the recognition $29.0 million realized gain on the 17.1 million shares of GFI common stock owned by BGC prior to the successful completion
of the tender offer to acquire GFI on February 26, 2015.
Note: Certain numbers may not add due to rounding.