- EBITDA to September grew by 23% and reached € 135.13 million
- Improved efficiency ratio, from 37.2 % in September 2005 to 33.8% at the end of September.
- Revenues to September reached € 204.07 million, 16.6% up on the year.
Bolsas y Mercados Españoles (BME) posted a net profit to September of € 92.15 million, 22.9% up on the € 74.98 million recorded during the same period last year. This figure consolidates the positive financial trend showed by the Group up to now.
BME’s net profit in the third quarter was € 30.17 million, 23.1% up on the same period last year, which was € 24.52 million.
Revenues at the end of the third quarter increased 16.6% on the year to € 204.08 million and operating costs posted a year on year increase of 6,0%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) to September came in at € 135.13 million, showing a positive trend with a 23% increase compared to 2005.
Earnings per share in the third quarter grew by 22.8% to € 0.36, from € 0.29 in the same period last year. Return on Equity (ROE) for the third quarter 2006 was 25.4% from 16.8% the previous year.
The efficiency ratio, which values the expenses incurred in each revenue source, came
down from 37.2% in September 2005 to 33.8% in September 2006.
Antonio Zoido, Chairman, BME, said:
“the net profit posted in the first nine months of
2006 is very positive, close to that posted throughout 2005 and exceeded by far the
figure posted in previous years. BME, which has been listed on the stock exchange
since July 14th, continues achieving its financial goals and strengthening its structure to
confront any future challenges ”.
Javier Hernani, CFO of Bolsas y Mercados Españoles, said:
“the improvement of the
results in the first nine months of the year confirms the greater dynamism of the Group
and its improved management, which will help to build on its developments and the
current activity on its markets to consolidate our competitive position and pave the way
for future growth”.
EQUITIES
In this business area, EBITDA in the first nine months of the year grew by 33.1% on the year to € 66.7 million from € 50.1 million in 2005.
EBITDA in the third quarter grew by 12.8% to € 19.62 million on year on year increases of 10.7% and 6.2% in revenues and operating costs respectively.
The accumulated value of trading to September increased by 25.1% on the same period 2005 to € 799.78 billion. In the first nine months of the year, the number of transactions grew by 25.2%.
As for the LATIBEX market, the value of trading to September grew by 46.4% on 2005.
The year on year growth for the third quarter was 12.3% The value of trading on the Warrants and Certificates market to September increased by 23.7% on the year to € 2.10 bn and the number of trades grew by 31.4% to 0.34 million trades during the same period.
CLEARING AND SETTLEMENT
As regards the Clearing and Settlement area, revenues to September came in at € 43.36 million, up 7.4% on the same period 2005. EBITDA for that period was € 33.36 million, representing a 6.7% increase on the same period last year.
Third quarter revenues in this business area decreased by 0.9% and EBITDA for the period came in at 10.34 million (-4.7%) The number of settled transactions in the third quarter, including equities and private and public fixed income operations, increased by 4.1% on 2005 to 7.4 million transactions.
LISTING
Revenues in this business area to September came in at 18.29 million euros (+1%) and EBITDA for the period was € 11.04 million (+1.2%), which represents a change in the trend with respect to previous quarters.
Revenues and EBITDA in the third quarter 2006 grew by 17.5% and 26.1% respectively as a consequence of the start of the Mercado Alternativo Bursátil (MAB) and the arrival of new companies on this market.
INFORMATION
Revenues in this area to September grew by 28.7% to 18.98 million euros and EBITDA for the period grew by 42.8% on the year to € 13.57 million.
Revenues for the third quarter came in at € 7.3 million (+49.2%) and EBITDA for this period increased by 72,1% on the same period 2005 to € 5.54 million.
DERIVATIVES
The EBITDA figure to September posted a 32.5% year on year increase. During this period the number of contracts traded increased by 16.3% on the year to 34.3 million.
Revenues from this business area in the third quarter were 9.9% higher on 2005, which allied with a 1.2% decrease in operating costs left an EBITDA figure for the quarter of 2.8 million, 22.7% up on the year.
As regards futures trading, the third quarter was a positive one while the trend posted by options trading was slightly worse, both in terms of index options and stock options.
FIXED INCOME
Revenues in the Fixed Income Market to September grew by 1.7% on the year, which together with cost cutting measures reversed the trend posted by EBITDA to record a 2.8% increase on the year to € 2.3 million.
Revenues in the third quarter grew by 12.8% to € 1.7 million and EBITDA for the period increased by 15.9% on the year to € 788,000.
IT & CONSULTING
Revenues to September from this business area came in at € 9.07 million (+37.8) and EBITDA was € 3.2 million (+91.8%).
Revenues for the third quarter came in at € 3.1 million (+37.6%) and EBITDA was € 1.04 million (+61.4).
In the third quarter BME Consulting finished the consulting project on which it had been working in Chile as well as a software updating project for the Caracas Stock Exchange. Another two projects, an IT project in the Dominican Republic and a consulting project in Serbia, are still in progress. During this period BME Consulting has been assigned a new project in Europe which will be funded by the European Commission.
THIRD QUARTER HIGHLIGHTS
The third quarter witnessed the flotation of Bolsas y Mercados Españoles. During this period BME centralised in a new building the activities of several business areas which, until then had been carried out in different geographical locations. BME is optimistic that the synergies derived from this move will be perceived in the near future.
Also in the third quarter, BME started its ETF segment, which posted a traded volume of € 609 million for the period.
The value of trading between July and September hit a record high. Besides, it was also this quarter that witnessed the highest number of trades ever posted in a single trading session.
The capitalisation of the companies listed on the BME markets as at 30 September 2006 exceeded € 1 trillion for the first time.
During the third quarter the Mercado Alternativo Bursátil (MAB) has continued listing new companies, which on October 30 amount to 747.
