In This Article:
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Revenue: MXN1 billion, up 6% year-over-year for Q2 2024.
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EBITDA: MXN556 million, up 7% year-over-year for Q2 2024.
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Earnings Per Share (EPS): MXN0.68, up 10% year-over-year for Q2 2024.
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First Half Revenue: Nearly MXN2 billion, flat year-over-year.
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First Half EBITDA: MXN1.1 billion, down 3% year-over-year.
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EBITDA Margin: 56% for the first six months of 2024.
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Net Income: MXN385 million, up 8% year-over-year for Q2 2024.
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Capital Expenditures: MXN104 million in technology during the first semester of 2024.
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Equity Trading Revenue: Up 15% year-over-year for Q2 2024.
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Derivatives Trading Revenue: Up 11% year-over-year for Q2 2024.
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Assets Under Custody: Increased 12% to MXN38 trillion.
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Operating Expenses: MXN984 million for the first six months of 2024, up 3% year-over-year.
Release Date: July 24, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bolsa Mexicana de Valores SAB de CV (BOMXF) reported a 6% increase in revenue, reaching MXN1 billion for the second quarter of 2024.
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EBITDA increased by 7% to MXN556 million, demonstrating effective cost management.
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Earnings per share rose by 10% year-over-year, indicating strong profitability.
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The company experienced a 15% increase in revenue from equity trading and clearing, with average daily traded value up by 12%.
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Indeval, the Central Securities Depository, saw a 12% increase in revenue due to higher assets under custody and cross-border transactions.
Negative Points
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Revenue for the first half of the year was flat year-over-year, impacted by high interest rates and a strong peso.
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EBITDA for the first half of the year decreased by 3%, primarily due to foreign exchange impacts.
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The information services and OTC trading segments underperformed, largely due to FX fluctuations.
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There were no equity listings or follow-ons during the second quarter, impacting capital formation revenue.
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Operating expenses increased by 3% in the first half of 2024, driven by personnel expenses and technology investments.
Q & A Highlights
Q: What is Jorge Alegria's new vision for Bolsa Mexicana de Valores, and how does he plan to prevent future de-listings? A: Jorge Alegria, the CEO, emphasized focusing on closer customer relationships, expanding market data products, and enhancing fixed income market offerings. He plans to prevent de-listings by improving market data offerings and pursuing electronic platforms for fixed income products, aiming for a more comprehensive strategy that includes derivatives.