Q2 2024 Tel Aviv Stock Exchange Ltd Earnings Call Transcript
Key Points
- Tel Aviv Stock Exchange Ltd (TVAVF) reported a 13% increase in quarterly revenues compared to the same quarter last year.
- Adjusted EBITDA surged by 29%, with the EBITDA margin rising to 44%.
- The TA-125 Index rose by 3.5% in H1 2024, indicating resilience despite ongoing conflict.
- Trading volumes in equities and bonds increased significantly, with equities up by 8% and bond trading volumes up by 15% compared to 2023.
- The company is implementing a strategic plan to align trading days with global standards, potentially increasing international investor accessibility.
- Despite revenue growth, financing income decreased by 45% due to increased financing expenses from a bank loan.
- Employee benefit expenses increased by 6%, contributing to higher overall expenses.
- Computer and communication expenses rose by 17%, driven by additional costs for new systems.
- Marketing expenses decreased by 73%, indicating potential underinvestment in promotional activities.
- The ongoing conflict in Israel presents a challenging environment, potentially impacting future operations and investor confidence.
Ladies and gentlemen, thank you for standing by. Welcome to the Tel-Aviv Stock Exchange Q2 2024 Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded, August 7, 2024. The recording will be publicly available on TASE's website. With us on the line today are Mr. Ittai Ben-Zeev, CEO; and Mr. Yehuda Ben-Ezra, CFO.
Before I turn the call over to Mr. Ittai Ben-Zeev, I would like to remind everyone that this conference is not a substitute for reviewing the company's annual financial statements, quarterly financial statements and the interim report of the second quarter of 2024, in which full and precise information is presented and may contain inter alia forward-looking statements in accordance to Section 32A to securities law 1968.
In addition to IFRS reporting, we might mention certain financial measures that do not conform to generally accepted accounting principles. Such non-GAAP measures are not intended in any manner to serve as a substitute for our financial results. However, we believe that they provide additional insight for better
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