BYMA announces results for 2Q22
Buenos Aires, Argentina, August 11th, 2022. - Bolsas y Mercados Argentinos S.A. (BYMA: BYMA) reported today financial results for the 3-month period ended on June 30th, 2022 (2Q22).
It is important to mention that in compliance with IAS 29, BYMA presents its financial statement adjusted by inflation. All monetary figures from 2022, as well as those from 2021, are expressed in pesos adjusted by inflation as of June 2022.
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Summary of income statement (inflation adjusted) for the three-month period ended on June 30th, 2022.
- Revenues from the CSD (Caja de Valores) reached ARS 972 million, compared to ARS 1.029 million reached in the second quarter of 2021.
- Revenues from the Exchange were ARS 1,014 million compared to ARS 1,082 million in 2Q21.
- Operating Financial income added up to ARS 313 million. In 2Q21, this figure was ARS 724 million.
- Total expenses in 2Q22 were ARS 1,389 million, compared to ARS 1,621 million in 2Q21.
- The adjustment due to inflation for 2Q22 was negative in ARS 4,654 million. For 2Q21 this adjustment was also negative but for ARS 3,347 million.
- Financial income reached ARS 2,953 million, against ARS 2,173 million for the second quarter of 2021.
- Iflation adjusted Net profits for the 2Q22 were negative by ARS 943 million. For 2q-21, this figure was negative by ARS 622 million.
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Non-inflation adjusted data: 2Q22 and historical data
As previously mentioned, BYMA's financial statements are presented in inflation adjusted terms (CPI). However, to allow for a proper comparison of historical figures, we present the non-adjusted figures for 2Q-22 as well as previous quarter's figures.
Profits were ARS 3,507 million, implying an increase of 110.5% compared to the same period of 2021 (ARS 1,841 million).
Operating income for the 2Q22 were ARS 2,145 million, which resulted in a28% y-o-y increase
Revenues from the Exchange added up to ARS 966 million, up by 51% when compared to 2Q21. They explained 455 of 2Q-22 total revenues.
Revenues of the Depositary (ARS 903.6 million) explained 42% of 2Q22 total revenues, with an y-o-y increase of 40%.
The remaining income belonged to Other Operating Income (financial income), for a total of ARS 276 million.
In this way, BYMA has a balanced revenue structure between the Exchange and the Depositary.
Operating Expenses for the quarter (including Depreciation and Amortization) reached ARS 1,147 million, 30% more than in the same period of 2021 (ARS 881 million).
Depreciation and amortization were ARS 27.4 million, in line with previous quarter and slightly below the value for 2Q21.
These figures result in a 2Q22 EBITDA of ARS 1,025 million and an EBITDA margin of 47.8%. In this way quarterly EBITD margin grew 24.7% since 2Q21.
Financial income arising from investments reached ARS 2,781 million, more than twice the figures of 2Q21.
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BYMA | 2Q22 | 2Q21 | 2Q22/2Q21 (%) | 6M 2022 | 6M 2021 | 6M22/6M21 (%) |
ARS Millions | ||||||
Revenues | 1,869.5 | 1,286.1 | 45.4% | 3,533.9 | 2,451.7 | 44.1% |
Other operating income | 276.0 | 388.3 | -28.9% | 416.3 | 450.1 | -7.5% |
Operating Expenses | 1,120.0 | 851.6 | 31.5% | 2,191.0 | 1,595.0 | 37.4% |
EBITDA | 1,025.6 | 822.7 | 24.7% | 1,759.3 | 1,306.7 | 34.6% |
EBITDA Margin | 47.8% | 49.1% | 44.5% | 45.0% | ||
Revenues compared to the same quarter of the previous year
CSD: +40,1% | Mercado: +51% |
ADC Services: +46,7%, | Trading, Clearing and Settlement: +47,7% |
ACRyP Services: +33,7% | Market Data: +30,3% |
Additional Services: +33,7% | Other revenues: +155,4% |
Assets under custody and traded values
- The value of assets under custody (quarterly average) was ARS 11,531 thousands of million, which meant a 61% growth compared to the same quarter of last year.
- The average daily traded value of equity registered a value of ARS 4.,329million, thus representing a growth of 39% compared to the same period of 2021.
- Concerning fixed income, total average traded value soared 182% y-o-y. This was explained by increases in average traded value of both trading segments: guaranteed segment ADTV hiked 139% y-o-y while OTC ADTV grew 198%.
BYMA | 2Q22 | 2Q21 | 2Q22/2Q21 (%) | 6M 2022 | 6M 2021 | 6M22/6M21 (%) |
ARS Millions | ||||||
Assets under Custody | 11,531,098 | 7,160,639 | 61.0% | 21,277,004 | 13,360,691 | 59.3% |
Fixed Income (ADTV, Guaranteed) | 79,532 | 33,206 | 139.5% | 128,729 | 63,010 | 104.3% |
Equity (ADTV) | 4,329 | 3,113 | 39.1% | 9,110 | 5,761 | 58.1% |
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SUMMARY OF INCOME STATEMENT (HISTORICAL FIGURES)
2Q21 | 2Q22 | YoY % | |
ADC Services | 467.7 | 686.1 | 46.7% |
ACRyP Services | 11.9 | 15.8 | 33.7% |
Additional services | 165.7 | 201.6 | 21.7% |
CSD Revenues | 645.2 | 903.6 | 40.1% |
Operating fees | 552.8 | 816.8 | 47.7% |
Others | 27.5 | 70.2 | 155.4% |
Market Data | 60.6 | 79.0 | 30.3% |
Exchange Revenues | 640.9 | 965.9 | 50.7% |
Other operating Income (financial, generated by deposits) | 388.3 | 276.0 | -28.9% |
Total Operating Income | 1,674.3 | 2,145.6 | 28.1% |
0.0 | 0.0% | ||
Total Operating Expenses | 851.6 | 1,120.0 | 31.5% |
0.0% | |||
EBITDA | 822.7 | 1,025.6 | 24.7% |
Mg EBITDA | 49.1% | 47.8% | -1.34 p.p |
D&A | 29.6 | 27.4 | -7.3% |
EBIT | 793.2 | 998.2 | 25.8% |
Mg EBIT | 47.4% | 46.5% | -0.9 p.p |
Financial Income | 1,344.1 | 2,781.0 | 106.9% |
Participation in other companies | 28.5 | 60.4 | N/A |
Others | -25.3 | -24.5 | N/A |
EBT | 2,140.5 | 3,815.0 | 78.2% |
Income Tax | 474.00 | 307.83 | -35.1% |
Net Income | 1,666.5 | 3,507.2 | 110.5% |
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Bolsas y Mercados Argentinos SA published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 23:10:02 UTC.