Q4 2024 B3 SA Brasil Bolsa Balcao Earnings Call Transcript

Feb 21, 2025 / 01:00PM GMT

Release Date Price: $5.92

Transcript

Key Points

Positve

B3 SA - Brasil Bolsa Balcao (BOLSY) reported a 7% revenue growth compared to the fourth quarter of 2023, demonstrating resilience despite market volatility.
The company achieved a recurring EBITDA of BRL1.6 billion, marking a 10% increase with a margin improvement to 67%.
There was a notable performance in Bitcoin futures, with an average daily volume of 206,000 contracts and BRL43 million in revenue.
The OTC derivatives segment saw a 17% increase in issuances and a 29% rise in outstanding balance, reflecting strong market demand.
B3 SA - Brasil Bolsa Balcao (BOLSY) successfully executed a sizable share buyback program, acquiring 340 million shares, which represented around 6% of its share capital.

Negative

Revenues were slightly below the third quarter of 2024 due to five fewer business days, impacting overall performance.
The company faced extraordinary expenses related to severances due to management changes, affecting personnel costs.
There was a decrease in listed derivatives performance compared to Q3 2024, attributed to lower short-term interest rate volatility.
The effective tax rate was slightly below prior quarters, indicating potential tax-related challenges.
The fixed income market, despite growth, showed lower revenue growth compared to operational metrics, highlighting a potential disconnect.

Operator

Good morning, ladies and gentlemen, and welcome to the B3's earnings results presentation for the fourth quarter of 2024, where Andre Milanez, B3's CFO, will discuss the results along with Fernando Campos, Investor Relations Associate Director. (Operator Instructions) As a reminder, this conference is being broadcast live via webcast. The replay will be available after the event is concluded.

Fernando Campos

B3 SA Brasil Bolsa Balcao - Investor Relations Associate Director

Hello. I'm Fernando Campos from B3's Investor Relations team, and welcome to another B3's earnings event, where Andre Milanez, B3's CFO, and I will analyze the results of the 4Q 2024. Andre will start by providing an overview of the quarter.

Andre Milanez

B3 SA Brasil Bolsa Balcao - Chief Financial Officer

Thanks, Fernando. We had a quarter with consistent results in line with the resilience of our business model. It was a quarter marked by many political events in Brazil and globally that brought significant volatility to the markets in which we

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