BME Obtains A Net Profit Of €150 Million In 2009 - Strong Results Amid Difficult Conditions

Bolsas y Mercados Españoles (BME) recorded a net profit of €150 million in 2009, which demonstrates its capacity to generate sustained earnings amid difficult conditions. The figure represents a 21.3% decrease from 2008.

The heightened tension in credit markets and a severe correction in the share prices of listed companies during much of the year affected the volume traded on the different markets managed by BME.

Under these conditions the robustness of the results posted by BME are the result of a diversified business model, the recurrence of revenues not directly linked to volume cycles (the cost base coverage ratio with revenue not linked to volumes ended the year at 105%) and a prudent and efficient cost management.

In 2009 BME reported revenue of €316.7 million, down 10.3% from a year earlier, of which 297 derived from revenue linked to the provision of services.

Earnings per share in 2009 stood at €1.80, of which €0.41 correspond to the fourth quarter.

The company’s efforts to achieve efficient cost-based management has allowed it to maintain its efficiency ratio at 33.7% for 2009 and at 35.2% for the fourth quarter. Moreover, its return on equity of 29.3% for the quarter and 32.5% for the year overall, continues to be a benchmark for the sector.

The fourth quarter earnings remained in line with those for the year overall. The quarter ended with a net profit of €33.8 million, down 25.2% from the same period in 2008. Operating costs came down 6% from the same quarter last year.

Bolsas y Mercados Españoles intends to submit to the General Shareholders’ Meeting the distribution of a €31 million extraordinary dividend.

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