Yahoo Finance

• Revenue: Over 1.1 billion pesos, up 17% year-over-year.

• EBITDA: 640 million pesos with a 57% margin, up 17% year-over-year.

• Net Income: 437 million pesos, up 17% year-over-year.

• Earnings Per Share: 78%, up 18% compared to Q1 2024.

• Equity Trading Revenue: Up 4% year-over-year; average daily traded value grew 19% to 17.3 billion pesos.

• Derivatives Revenue: Increased 13%; average daily notional value for dollar futures up 21% to 340 million pesos.

• OTC Trading Revenue: Increased 8% with growth in Mexico and Chile.

• Capital Formation Revenue: Listings revenue increased 11%; maintenance segment revenue up 6%.

• Central Securities Depository (Indeval) Revenue: Grew 25%; assets under custody increased 11% to 40.9 trillion pesos.

• Information Services Revenue: Reached 205 million pesos, up 25% year-over-year.

• Operating Expenses: 585 million pesos, up 14% year-over-year.

• Capital Expenditure: 32 million pesos for the quarter.

• Warning! GuruFocus has detected 7 Warning Sign with BOMXF.

Release Date: April 23, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Bolsa Mexicana de Valores SAB de CV (BOMXF) reported strong revenue growth, with revenues, EBITDA, and net income all increasing by 17% compared to the first quarter of 2024.

• The company is launching a new central counterparty (CCP) service for bonds, expected to start in Q3 2025, which could enhance their service offerings.

• Bolsa Mexicana de Valores SAB de CV (BOMXF) is implementing a new fee schedule for equity trading, which has not yet impacted their market share significantly.

• The company is focusing on expanding its retail market segment by reducing conversion fees for trades below $5000, potentially increasing retail trading activity.

• Bolsa Mexicana de Valores SAB de CV (BOMXF) is advancing its market data services by partnering with IPC to offer virtualized co-location services, expected to be ready by Q3 2025.

Negative Points

• Operating expenses increased by 14%, driven by higher personnel costs, technology expenses, and consultancy fees, which could impact profit margins.

• The company is facing regulatory delays in implementing new pricing structures and other initiatives, which could affect their competitive positioning.

• Despite strong revenue growth, the derivatives segment remains a small portion of overall revenues, limiting its impact on the company's financial performance.

• The company is experiencing increased expenses due to FX fluctuations, which could continue to affect financial results if exchange rates remain volatile.

• There is uncertainty regarding the timeline for the launch of new products, such as the mini USD and index futures, due to pending regulatory approvals.