Q2 2025 B3 SA Brasil Bolsa Balcao Earnings Call Transcript

Aug 08, 2025 / 01:00PM GMT

Release Date Price: $7.29 (-1.09%)

Transcript

Key Points

Positve

B3 SA - Brasil Bolsa Balcao (BOLSY) reported a 1% increase in total revenue compared to the second quarter of 2024, driven by strong performance in fixed income and technology.
Net income reached BRL1.3 billion, with earnings per share increasing by 13% compared to the second quarter of 2024, reflecting the execution of the company's buyback programs.
The company saw a 90% increase in average daily trading volume (ADTV) in cash equities, totaling BRL26.1 billion, with an increase in turnover velocity.
Platforms and Analytics revenue grew by 14%, driven by credit, loss prevention, and insurance verticals.
B3 SA - Brasil Bolsa Balcao (BOLSY) launched new products, including Ethereum and Solana futures, and derivatives linked to the Ibovespa B3 BR Plus, indicating a strong pipeline of new products.

Negative

Derivatives revenue decreased by 6% compared to the second quarter of 2024, with a 3% decrease in average daily volume (ADV) of contracts.
The company recognized a nonrecurring impact that reduced revenue deductions by approximately BRL75 million due to accumulated tax credits.
Recurring EBITDA totaled BRL1.7 billion, 3% lower than the second quarter of 2024, although it was 4% higher than the first quarter of this year.
There is uncertainty regarding the potential impact of new competitors entering the market, particularly in the clearing side of operations.
The provisional measure to increase the CSLL tax rate from 9% to 15% could impact the company's total tax rate if approved by Congress.

Operator

Good morning, ladies and gentlemen, and welcome to the B3's earnings results presentation for the second quarter of 2025, 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 broadcasted live via webcast. The replay will be available after the event is concluded.

Fernando Tavares de Campos

B3 SA Brasil Bolsa Balcao - Investor Relations - Associate Director

Hi, I'm Fernando Campos from B3's Investor Relations team, and welcome to another earnings event where Andre Milanez, B3's CFO, and I will analyze the results of the second quarter of 2025. Andre will start by providing an overview of the quarter. Andre?

Andre Veiga Milanez

B3 SA Brasil Bolsa Balcao - Chief Financial, Corporate and Investor Relations Officer

Thank you, Fernando. In a macro scenario without significant changes with high interest rates in Brazil and some isolated volatility events impacted by the political

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