Bursa De Valori Bucuresti · BVB:BVB
Bursa De Valori Bucuresti — Q3 2021 Earnings Presentation
18 slides from Bursa De Valori Bucuresti's earnings presentation, 2021
Slide 1: BVB 3Q21 Results
BVB 3Q21 Results Own the future. Invest in it.
Slide 2: Bucharest Stock Exchange (BVB) Stock
Bucharest Stock Exchange (BVB) Stock Indicator BVB BVB vs BET Index (5 years) ISIN ROBVBAACNOR0 40 14,000 Refinitiv ROBVB.BX 12,000 Bloomberg BVB.RO Share price (Sep 30, 2021) EUR 5.05 / RON 25 30 10,000 Market Cap (Sept 30, 2021) EUR 39.8 mn/ RON 201 mn 8,000 No. of outstanding shares 8,049,246 20
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 81 domestic and 3 foreign Depository House n Fund
Slide 4: Highlights – Q3 Financials
Highlights – Q3 Financials Consolidated Q3 21 vs Q3 20 (RON mn) Individual Q3 21 vs Q3 20 (RON mn) 22% decrease in trading revenues driven by 56% lower equity trading -15% volumes in Sept ’21 vs Sept ‘20 (a massive month dominated by large -2% one-offs: FP & SNP SPOs, FTSE inclusion, large transfers
Slide 5: CCP Update - Timeline
CCP Update - Timeline 6 months period of assessment by FSA and ESMA of the documentation submitted and the issuance of the FSA confirms that the documentation is operating license FSA issues the authorization for complete central counterparty operations FSA issues the Risk Assessment Q4 2021 4 month
Slide 6: CCP Update – Derivatives market implementation stages
CCP Update – Derivatives market implementation stages Implementation stages a. Stage 1 (Year 1 of CCP.RO operation on EMIR compliant conditions, after 2 months from authorization): (i) Forward contracts for physical delivery of the electricity; (ii) Electricity Futures, cash settled and with physica
Slide 7: CCP Update – Financial Variations Plan V.2021 vs V.2018
CCP Update – Financial Variations Plan V.2021 vs V.2018 7
Slide 8: Business Highlights
Business Highlights Primary New listings momentum stays strong Markets • Main market: ▪ IPOs: ONE – EUR 53mn listed in July 2021 ▪ New Green Bond issue listed – Raiffeisen Bank 1.2bn RON ▪ New series of Govt bonds under Fidelis program – RON 900mn ▪ Good prospects for Q4 – Aquila IPO ongoing (EUR 75
Slide 9: 9M 2021 key financial highlights
9M 2021 key financial highlights Financial performance, BVB individual and BVB Group (RON mn, unless otherwise stated) BVB individual Group 9M 2021 9M 2020 Change (%) 9M 2021 9M 2020 Change (%) Operating revenues 18.40 20.31 -9% 32.68 31.63 3% Operating expenses (13.50) (12.00) 13% (31.00) (24.44) 2
Slide 10: Analysis of the financial results - BVB individual
Analysis of the financial results - BVB individual BVB individual BVB individual Main financial indicators, 3Q 21 vs. 3Q 20 Main financial indicators, 9M 21 vs. 9M 20 (RON mn) 7.87 (RON mn) 20.31 6.71 18.40 13.50 4.73 12.00 3.87 4.00 3.41 8.31 8.76 5.53 1.98 1.95 4.90 9M 2021 9M 2020 3Q 2021 3Q 2020
Slide 11: Analysis of the financial results - BVB Group
Analysis of the financial results - BVB Group BVB Group BVB Group Main financial indicators, 9M 21 vs 9M 20 Main financial indicators, 3Q 21 vs. 3Q 20 (RON mn) 32.68 (RON mn) 31.00 31.63 11.75 12.05 11.20 24.44 8.40 7.19 7.91 3.65 3.67 3.83 1.19 1.67 0.55 9M 2021 9M 2020 3Q 2021 3Q 2020 Operating re
Slide 12: Analysis of the consolidated revenues - BVB Group
Analysis of the consolidated revenues - BVB Group Revenues by segment 9M 21 vs 9M 20 • Trading segment down 5% vs 9M 20, result of trading revenues (RON mn) decrease, mainly from public offers, netted off by advance in 25.00 issuers maintaining fees and sale of market data revenues 20.00 18.16 19.10
Slide 13: Analysis of the Group trading segment revenues
Analysis of the Group trading segment revenues Trading value for shares, rights, units, Trading value, fixed-income instruments certificates (RON bn) (RON bn) 3.14 4.35 3.67 3.49 2.89 2.92 2.11 2.07 2.73 2.50 1.48 1.33 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 1Q 2020 2Q 2020 3Q 2020 4
Slide 14: Analysis of operating expenses – BVB individual
Analysis of operating expenses – BVB individual BVB individual Breakdown of operating expenses, Operating expenses up 13% vs 9M 20, to the value of RON 13.5 mn 9M 21 vs. 9M20 (RON mn) mainly driven by: 4.18 3.74 • Higher third party services costs by 40% generated by the projects 1.60 2.23 implement
Slide 15: Analysis of operating expenses – BVB Group
Analysis of operating expenses – BVB Group BVB Group Breakdown of operating expenses, Third party services, 9M 21 (%) 9M 21 vs. 9M20 (RON mn) Business consultancy Other third party 44% 9.14 services… 7.77 5.98 2.96 Promotion 13.72 15.89 activities 17% 9M 2020 9M 2021 Commissions & Personnel costs &
Slide 16: Overview of the financial position
Overview of the financial position Financial position, BVB individual and BVB Group (RON mn, unless otherwise stated) BVB individual GROUP BVB Individual • Total assets – up by 2% vs Dec 20, mainly driven by the recognition of right of Sep 2021 Dec 2020 Sep 2021 Dec 2020 use assets according IFRS 16
Slide 17: Attractive dividend yield
Overview of the financial position Attractive dividend yield 3.50 3.00 8% 5.9% 2.50 5.1% 6% 2.00 4.3% 1.50 3.2% 3.3% 4% 2.7% 1.00 1.68 2% 0.50 0.87 0.92 1.13 1.07 0.81 0.00 0% 2015 2016 2017 2018 2019 2020 Dividend/share [RON] Dividend yield [%] • Stable dividend policy, with a payout ratio of 100%,
Slide 18: IR Contact: Remus Danila
IR Contact: Remus Danila Head of IR and Business Development [email protected] M: +40 745 013 552 P: +40 21 307 95 07 This presentation is made solely to the intended recipient and should not be distributed to, or acted upon by, any other person. It is for general information only and reflects the personal
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