Bursa De Valori Bucuresti · BVB:BVB
Bursa De Valori Bucuresti — H1 2021 Earnings Presentation
18 slides from Bursa De Valori Bucuresti's earnings presentation, Aug 12, 2021
Slide 1: H1/Q2 2021 Results Presentation
H1/Q2 2021 Results Presentation August 12, 2021
Slide 2: Bucharest Stock Exchange (BVB)
Bucharest Stock Exchange (BVB) Indicator BVB BVB vs BET Index (5 years) ISIN ROBVBAACNOR0 40 12,000 Refinitiv ROBVB.BX 10,000 Bloomberg BVB.RO 30 Share price (June 30, 2021) EUR 5.1 / RON 25.3 8,000 Market Cap (June 30, 2021) EUR 41.3 mn/ RON 203 mn No. of outstanding shares 8,049,246 20 6,000 ADT 1
Slide 3: BVB Group at a glance
BVB Group at a glance Markets operated by BVB Bucharest Stock Exchange Bucharest Stock Exchange 100% free float 100% free float Main Market ATS Bucharest Investors Corporate Listed companies: Central Listed companies: Clearing Compensatio Governance Depository House n Fund Corporate Institute 81 dom
Slide 4: Business Highlights
Business Highlights Primary Markets Record period in terms of new listings • Main market: ▪ TTS - first IPO since 2017, EUR 58mn, 20x oversubscription on the retail tranche; ▪ ONE – EUR 53mn IPO; ▪ 11 bond listings: EUR 570mn corp bonds, including the first Green bonds listed locally and EUR 470mn G
Slide 5: Highlights – Q2 Financials
Highlights – Q2 Financials Consolidated Q2 21 vs Q2 20 (RON mn) Individual Q2 21 vs Q2 20 (RON mn) +48% +32% 2Q21 shares turnover up 15% vs 2Q20. Total turnover up 66% vs 2Q20 due to 48x rise in bond trading (including offers) 11.04 7.47 5.91 4.48 Market data sales and issuer fees up 70-80% y/y (30%
Slide 6: Other developments
Other developments ▪ CCP project inline with previous guidance – authorization documentation to be submitted in Q4 2021. Revenue generation to start in Q3/Q4 2022 ▪ Strong primary markets outlook ▪ 2-5 IPOs expected until EoY on the main market ▪ 10-15 listings on the Aero market ▪ Update on law reg
Slide 7: Mid-term strategic objective: Double the market liquidity
Mid-term strategic objective: Double the market liquidity Establishing the Romanian Increasing retail investors CCP and launching the base derivatives market Double Improving issuers’ Attracting more issuers the transparency and Liquidity coverage Improving the financial Better international educati
Slide 8: H1 2021 key financial highlights
H1 2021 key financial highlights Financial performance, BVB individual and BVB Group (RON mn, unless otherwise stated) BVB individual Group 1H 2021 1H 2020 Change (%) 1H 2021 1H 2020 Change (%) Operating revenues 11.70 12.44 -6% 20.93 19.58 7% Operating expenses (8.77) (8.13) 8% (19.81) (16.04) 23%
Slide 9: Analysis of the financial results - BVB individual
Analysis of the financial results - BVB individual • Operating income* decreased by 6% or RON 0.74 mn, from RON 12.44 mn to RON 11.70 mn, the basic effect is the decrease of the “one-off” Main financial indicators, 1H 21 vs. 1H 20 revenues recorded in Q1 2020 from intra-group re-invoicing (RON 0.97
Slide 10: Analysis of operating expenses - BVB Individual
Analysis of operating expenses - BVB Individual Breakdown of operating expenses, 1H 21 vs. 1H 20 (RON mn) 4.53 4.67 Operating expenses increased by 8% or RON 0.64 mn from RON 8.13 mn to RON 8.77 mn, influenced by: • Personnel expenses in amount of RON 4.67 mn, + 3% compared to 1H 2020, 2.44 2.64 fol
Slide 11: Analysis of the consolidated results - BVB Group
Analysis of the consolidated results - BVB Group Main financial indicators, 1H 21 vs. 1H 20 (RON mn) • Consolidated operating revenues of RON 20.93 mn (1H 2020: RON 19.58 mn), increase of 7% or RON 1.35 mn, generated by significant advance of 20.93 the revenues of the post-trading segment. 19.58 • C
Slide 12: Analysis of the Group trading segment revenues (1/2)
Analysis of the Group trading segment revenues (1/2) Breakdown of operating revenues of BVB Group, Trading segment revenues 1H 21 Trading segment revenues – represent 55% from the Group’s operating income and increased by 2%, up to RON 11.54 mn, mainly due to lower Registry, 16% intragroup adjustmen
Slide 13: Analysis of the Group trading segment revenues (2/2)
Analysis of the Group trading segment revenues (2/2) Trading value for shares, rights and units (RON bn) Trading value for certificates (RON bn) 4.14 0.240 3.53 0.214 0.238 2.73 0.193 2.66 2.60 2.08 2.26 0.137 0.131 0.053 4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 4Q 2019 1Q 2020 2Q 202
Slide 14: Analysis of the Group post-trading and registry segment revenues
Analysis of the Group post-trading and registry segment revenues Operating revenues and profit, Group trading Post-trading segment revenues segment (RON mn) • Revenues related to the post-trading segment (DC) + 11.54 11.31 17% (from RON 5.15 mn to RON 6 mn) due to the increase of revenues from admis
Slide 15: Analysis of operating expenses - BVB Group
Analysis of operating expenses - BVB Group Breakdown of operating expenses, 1H 2021 vs. 1H Third party services, 1H 2021 (%) 2020 (RON mn) 10.00 Other third party 8.77 services… Business consultancy… 3.94 2.17 5.88 5.10 Audit services PromotionCommissions 7% activities & fees 1H 2020 1H 2021 15% 8%
Slide 16: Overview of the financial position
Overview of the financial position Analysis of BVB Individual financial position Financial position, BVB individual and BVB Group • Total assets - RON 113.5 mn, slight increase compared to the value from Dec 31, 2020 of RON 112.93 (RON mn, unless otherwise stated) mn. The increase of current assets
Slide 17: Attractive dividend yield
Overview of the financial position Attractive dividend yield 3.50 9% 3.00 8% 5.9% 7% 2.50 5.1% 6% 2.00 4.3% 5% 1.50 3.2% 3.3% 4% 2.7% 3% 1.00 1.68 2% 0.50 0.87 0.92 1.13 1.07 0.81 1% 0.00 0% 2015 2016 2017 2018 2019 2020 Dividend/share [RON] Dividend yield [%] • Stable dividend policy, with a payout
Slide 18: Thank you!
Thank you! IR Contact: Remus Danila IR Officer Email: [email protected] Mobile: +40 745 013 552 Phone: +40 21 307 95 07
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