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Bolsa de Mercadorias & Futuros-BM&F SA (BOVESPA: BMEF3), the largest exchange in Latin America based on the number of traded contracts and the only futures exchange operating in Brazil, announces today its consolidated fourth quarter and fiscal year 2007 results. BM&F purpose is to develop and manage trading and settlement systems for securities and derivatives based on financial instruments, indices, indicators, rates, commodities, foreign currencies, energy, transportation, climate and environmental commodities, for both immediate and future settlement. The Company seeks to provide its clients with products that allow them (i) to hedge against market risks, (ii) arbitrate prices between markets and/or securities, (iii) diversify investment allocations; and (iv) leverage positions. The Company’s audited financial statements were prepared in accordance with the accounting practices adopted in Brazil, which are based on Brazilian corporate law, the Brazilian Securities and Exchange Commission (CVM) rules and regulations, and the accounting standards issued by the Brazilian Institute of Independent Accountants (IBRACON) (“Brazilian GAAP”).
Highlights in the period:
- A 48.7% net income growth. Net income reached BRL293.3 million in 2007, up 48.7% over BRL197.2 million registered in 2006.
- A 53.3% net income margin. Net income margin reached 53.3% in 2007, in comparison with 50.8% in 2006.
- A 41.8% growth in net revenue. Net revenue reached BRL550.6 million in 2007, up 41.8% over BRL388.2 million registered in 2006.
- A 66% growth in EBITDA. EBITDA reached BRL292.4 million in 2007, up 66% over BRL176.1 million registered in 2006.
- A 53.1% EBITDA margin. EBITDA margin reached 53.1% in 2007, in comparison with 45.4% in 2006.
- A 50.4% trading volume growth. Trading volume reached 426.3 million in 2007, up 50.4% over the 283.5 million contracts traded in 2006.
- 4Q2007 net income reached BRL69.1 million.
- 4Q2007 net income adjusted by nonrecurring items was BRL68.3 million.
- 4Q2007 adjusted net income margin was 54.1%.
- 4Q2007 adjusted EBITDA was BRL63.2 million.
- 4Q2007 EBITDA margin was 50.1%.
- 4Q2007 adjusted net revenue was BRL126.3 million.
- 4Q2007 average fee per contract was BRL1.42. The average fee per contract in the 4Q2007 was BRL0.10 higher than the annual average.
To access the entire Earnings Release, please click here.
