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Bolsas y Mercados Españoles (BME) recorded a net profit of € 201.13 million in 2007, up 54.1% from the € 130.53 million posted in 2006. These results confirm the excellent model operated by BME, which efficiently converts the activity registered in the different markets into real returns, while tailoring its services to current market conditions.
The company’s revenue in 2007 came in at € 383.09 million, up 33.1% from a year earlier. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) in 2007 was € 284.96 million, up 48.9% from a year earlier.
In the fourth quarter 2007, BME recorded a net profit of € 50.54 million, up 31.7% from the same year-earlier period, which was € 38.38 million.
Revenue in the fourth quarter of 2007 rose by 21.1% from a year earlier to € 101.31 million. Operating costs were up by only 3.9% from a year earlier.
Earnings per share in the fourth quarter 2007 came in at 0.60 euros per share, from 0.46 euros per share a year earlier, which represents a year-on-year increase of 31.7%. The Return on Equity ratio (ROE) went from 28.9% at December-end 2006 to 43.4% at December-end 2007.
As regards the efficiency ratio, it posted a solid improvement between 2006 and 2007. It went from 33.5% at December-end 2006 to 25.6% at December-end 2007.
EQUITIES
Revenue in this area in 2007 was € 173.91 million, up 33.1% from a year earlier. EBITDA for the same period came in at € 139.29 million, up 44.1% from the € 96.66 million recorded in 2006.
Revenue in the fourth quarter 2007 rose by 14.7% to € 44.45 million. EBITDA for the same period rose by 17.7% from a year earlier to € 35.21 million.
CLEARING AND SETTLEMENT
Revenue in 2007 grew by 49.4% from a year earlier to € 92.29 million. EBITDA for the same period was € 77.80 million, up 62.5% from 2006.
In the fourth quarter 2007, revenue came in at € 23.86 million, up 29.6% from 2006. EBITDA for the same period was € 19.91 million, up 37.2% from the same period 2006.
LISTING
Revenue in 2007 came in at € 30.56 million, up 18.9% from a year earlier. EBITDA for the same period was € 20.12 million, up 26.1% from a year earlier.
In the fourth quarter revenue increased by 13.4% from a year ealier to € 8.41million. EBITDA for the same period increased by 12.5% from a year earlier to € 5.54 million.
INFORMATION
Revenue in 2007 was € 33.61 million, up 25.2% from a year earlier. EBITDA for the same period came in at € 26.08 million, which represents a 33.7% increase on the previous year.
In the fourth quarter 2007 revenue reached € 8.93 million, up 13.5% from a year earlier. EBITDA for the same period was € 6.89 million, up 16.3% from the same year-earlier period.
DERIVATIVES
In 2007 revenue rose 19.4% from a year earlier to € 28.59 million. EBITDA for the same period came in at € 17.80 million, up 38.4% from 2006.
In the fourth quarter 2007 revenue increased by 13% from a year earlier to € 7.27 million. EBITDA for the same period was € 4.27 million, up 13.2% from the same year-earlier period.
FIXED INCOME
Trading revenue in this business area fell by only 0.8% compared to the previous year. EBITDA for the same period was € 3 million, only 1% less than a year ago. It is important to mention that this business area generates revenue for the listing and clearing and settlement units.
In the fourth quarter revenue rose by 4.1% from a year earlier to € 1.61 million. During the same period EBITDA increased by 7.3% from the same year-earlier period to € 762,000.
IT & CONSULTING
In 2007 revenue was € 14.74 million, up 20.7% from a year earlier. EBITDA for the period rose by 54% from a year earlier to € 6.86 million.
Revenue in the fourth quarter reached € 4.66 million, up 48.7% from a year ago and EBITDA for the same period came in at € 2.48 million, up 103.5% from the same period a year earlier.
FOURTH QUARTER HIGHLIGHTS
The cash value of shares traded on the electronic trading system in the last quarter of 2007 was over €434.54 billion, up 23.1% on 4Q06, while the number of trades rose by 30.3% on 4Q06. Trading for the year amounted to €1.67 trillion, with 34.5 million transactions, up 44.8% and 50.6%, respectively, on the previous year.
There were 11.7 million equity, private fixed income and public debt trades settled in 4Q07, 15.2% more than in 4Q06. The overall rise was 25.9% in 2007, with 43.6 million trades settled during the year.
Eight new companies were admitted to trading in 4Q07, six of which were through public offerings or subscription offerings and two through a listing procedure. Thirteen companies were newly listed on the market in all of 2007.
The total volume of new listings on AIAF, the Spanish private fixed income market, was €145.61 billion in 4Q07, an increase of 7.1% on 4Q06. This brought the total for the year to €641.06 billion, up 26.1% compared to 2006.
At the end of December, the outstanding amount of all private fixed-income issues admitted to trading on the AIAF stood at €758.56 billion, 28.8% higher than at the end of 2006.
In 2007 derivatives trading amounted to 51.9 million contracts (+9.9%). In the fourth quarter the number of contracts was 36% up from the same period a year earlier to 17.39 million contracts.
On 3 October 2007, BME acquired a 10% interest in the share capital of the Cámara de Riesgo Central de Contraparte de Colombia, S.A. BME provided the technological platform as well as significant know-how to the new company.
At the meeting held on 20 December 2007, the BME Board of Directors approved the distribution of interim dividends on account of 2007 profits for a gross total of €79.93 million (€0.956 per share, gross), which is 59.9% higher than the interim dividend paid to shareholders on account of 2006 profits.
