Q2 2024 Bolsa Mexicana de Valores SAB de CV Earnings Call Transcript
Key Points
- Bolsa Mexicana de Valores SAB de CV (BOMXF) reported a 6% increase in revenue, reaching MXN1 billion for the second quarter of 2024.
- EBITDA increased by 7% to MXN556 million, demonstrating effective cost management.
- Earnings per share rose by 10% year-over-year, indicating strong profitability.
- The company experienced a 15% increase in revenue from equity trading and clearing, with average daily traded value up by 12%.
- Indeval, the Central Securities Depository, saw a 12% increase in revenue due to higher assets under custody and cross-border transactions.
- Revenue for the first half of the year was flat year-over-year, impacted by high interest rates and a strong peso.
- EBITDA for the first half of the year decreased by 3%, primarily due to foreign exchange impacts.
- The information services and OTC trading segments underperformed, largely due to FX fluctuations.
- There were no equity listings or follow-ons during the second quarter, impacting capital formation revenue.
- Operating expenses increased by 3% in the first half of 2024, driven by personnel expenses and technology investments.
Greetings, and welcome to Bolsa Mexicana de Valores second quarter 2024 earnings conference call. (Operator Instructions). As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Mr. Ramón Güémez. Chief Financial Officer. Thank you, Mr. Güémez, you may begin.
Thank you. Good morning, and welcome to Bolsa Mexicana de Valores second quarter 2024 earnings conference call.
Before proceeding, I'd like to provide a brief safe harbor statement. This presentation contains forward-looking statements and information related to Bolsa that are based on the analysis and expectations of its management as well as assumptions made and information currently available at Bolsa. Such statements reflect the current views of Bolsa related to future events and are subject to risks, uncertainties and assumptions.
Many factors could cause the current results, performance or achievements of Bolsa to be somewhat
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