Q3 2024 Bolsa Mexicana de Valores SAB de CV Earnings Call Transcript
Key Points
- Bolsa Mexicana de Valores SAB de CV (BOMXF) reported a strong financial performance in Q3 2024, with revenue exceeding MXN1 billion, up 13% year-over-year.
- Earnings per share increased by 27% compared to the same quarter last year, reflecting robust profitability.
- The company maintained a high EBITDA margin of 58% for the quarter, showcasing effective cost management.
- There was a significant increase in equity trading and clearing revenue, up 20% year-over-year, driven by a 24% rise in average daily traded value.
- The central securities depository, Indeval, saw a 27% increase in revenue due to higher assets under custody and favorable exchange rates.
- Bolsa Mexicana de Valores SAB de CV (BOMXF) anticipates a potential negative impact on revenues between MXN90 million to MXN110 million due to competitive pricing changes by a rival exchange.
- The company experienced a decrease in OTC trading and value-added services revenue by 3%, attributed to lower CO2 emissions compensations.
- Listing revenue decreased by 4% due to a lower number of long-term debt issuances and follow-on offerings.
- The information services segment saw a revenue decrease of 6% when excluding exchange rate impacts, due to product cancellations and portfolio management service withdrawals.
- The company faces challenges in maintaining market share amidst competitive pressures and regulatory changes, which may impact future revenue growth.
Greetings and welcome to the Bolsa Mexicana de Valores third quarter, 2024 earnings conference call. At this time, all participants are on a listen-only mode, a question-and-answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ramon Gomez Chief Financial Officer. Thank you. You may begin.
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Thank you. Good morning and welcome to Bolsa Mexicana de Valores third quarter, 2024 earnings conference call before proceeding. I would 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
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