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- EBITDA to September grew by 57% to €212.2 million.
- The efficiency ratio improved, falling from 33.8% in September 2006 to 24.7% a year later.
- Revenues to September reached €281.8 million, up 38.1% from a year earlier.
Bolsas y Mercados Españoles (BME) posted a net profit of €150.6 million in the first nine months of 2007, up 63.4% on the €92.1 million recorded during the same period last year. BME’s net profit in the third quarter rose 57.8% to €47.6 million, from €30.2 million a year earlier.
Revenues in the third quarter increased 36.3% from a year earlier to € 281.8 million and operating costs posted a year-on-year increase of 1%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) to September came in at € 212.2 million, a 57% increase compared to 2006.
Earnings per share in the third quarter grew to €1,80 from €1,10 in the same period last year. Return on Equity (ROE) for the third quarter 2007 was 42% from 26.9% in the same year-earlier period.
The efficiency ratio, which values the expenses incurred in each revenue source, fell from 33.8% in September 2006 to 24.7% in September 2007.
EQUITIES
In this business area, EBITDA grew by 56% in the first nine months of the year to €104.07 million, from € 66.73 million in the same year-earlier period.
EBITDA in the third quarter grew by 64.8% to € 32.33 million, boosted by a year-on-year increase of 45.9% in revenue.
Equity turnover to September increased by 54.4% from a year earlier, to € 1.23 trillion. In the first nine months of the year, the number of transactions grew by 59.4% compared to the same 2006 period
CLEARING AND SETTLEMENT
As regards the Clearing and Settlement area, revenue to September came in at €68.4 million, up 57.8% on the same 2006 period. EBITDA for the same period totalled €57.9 million, representing a 73.5% increase on the year before.
Third quarter revenues in this business area increased by 52% and EBITDA for the period came in at 17.50 million (+69.3%).
The number of settled transactions in the third quarter, including equities and private and public fixed income operations, increased by 38.2% on 2006. Up to September the number of settled transactions came in at 31.9 million (+30.3%).
LISTING
Revenues in this business area in the nine months to September came in at €22.14 million (+21.1%) while EBITDA for the period totalled €14.58 million (+32.1%).
Revenue and EBITDA in the third quarter 2007 grew by 14.8% and 20.5% respectively, boosted by the initial public offerings of new companies and the listing of new products and companies on the various market segments of this business area.
INFORMATION
In this area, revenues to September grew by 30% from a year earlier, to €24.68 million. EBITDA for the same period grew by 41.4% to €19.18 million.
Revenues for the third quarter came in at €8.80 million (+20.9%) and EBITDA increased by 28% from the same period 2006 to €7 million.
DERIVATIVES
The derivatives business posted a 48.9% increase in EBITDA in the first nine months of the year. During this period, the number of contracts traded increased by 0.2% from a year earlier to 34.4 million contracts.
Revenues from this area rose 36.9% in the third quarter from a year earlier, bringing EBITDA for the quarter to € 4.75 million, up 66.8% from a year earlier.
FIXED INCOME
Revenues in the Fixed Income Market to September decreased by 2.4% on the year, and EBITDA for the period came in at €2.2 million, a 3.5% decrease on the year. Revenues in the third quarter decreased by 5.4% to €1.57 million and EBITDA for the period increased by 1.5% on the year to € 800,000.
IT & CONSULTING
This business area generated revenues in the nine months to September of €10.07 million (+11%) and EBITDA of €4.3 million (+35.4%). Revenues for the third quarter came in at €3.3 million (+6%) and EBITDA totalled €1.27 million (+22.3%).
THIRD QUARTER HIGHLIGHTS
BME was chosen to become a component, effective 10 October 2007, of the DOW JONES SPAIN TITANS 30 international index, which represents the 30 largest and most liquid stocks traded in Spain.
The capitalisation of the equity market stood at €1.35 trillion at the end of September, 34.1% higher than the same year-earlier period.
By the end of the third quarter, a total of 3,240 companies listed on the Mercado Alternativo Bursátil, MAB (Spain’s alternative equity market), with a market cap of €31.9 billion.
The third quarter also saw the advent of a new index, the FTSE4Good IBEX, represented by Spanish companies that meet the corporate social responsibility criteria established by an independent firm. Starting in March 2008, the index will be calculated as an underlying for ETFs and derivatives and a benchmark for mutual funds.
In the third quarter nine ETFs were admitted to trading: 7 on equity indices and 2 on fixed income indices, bringing the total number of ETFs on the Spanish market to 14.
MEFF has broadened its range of equity futures products. First, it introduced cash settlement of futures on existing shares of the IBEX 35®. It also added cash settlement of futures on 40 non-Spanish stocks in the euro zone.
In the market for warrants and certificates, the cash value of premiums traded in 3Q07 soared 153.9%, to €1.44 billion from €566 million a year earlier. Trading in this segment set a new daily all-time high on 19 September of €43 million.
During the third quarter, BME rolled out the SIBE, the electronic trading platform used in the Spanish exchange, for use in the Dominican Republic stock exchange.
