Q3 2025 B3 SA Brasil Bolsa Balcao Earnings Call Transcript

Nov 12, 2025 / 01:00PM GMT

Release Date Price: $7.95 (+3.25%)

Transcript

Key Points

Positve

B3 SA - Brasil Bolsa Balcao (BOLSY) reported a 2% revenue growth despite challenging market conditions, showcasing the resilience of its business model.
The company achieved significant growth in key areas: 21% in Fixed Income and Credit, 18% in Data Analytics and Solutions, and 13% in Technology and Platforms.
Net income reached BRL 1.3 billion, with earnings per share increasing by 12% compared to the previous year, supported by a successful buyback program.
B3 SA maintained expenses below inflation, demonstrating effective budget management and commitment to efficiency.
The company successfully completed a BRL 2.6 billion debenture issuance at a competitive cost, positively impacting net present value.

Negative

The equities and derivatives markets faced challenges, impacting overall market performance.
There is uncertainty regarding potential tax changes in Brazil, which could affect B3 SA's financials if approved.
The company faces competition from new local exchanges, although specific timelines and impacts remain unclear.
The appreciation of the Brazilian real against the US dollar negatively impacted revenue linked to USD-denominated contracts.
Despite improvements, the securities lending market is still not at the desired level of liquidity and volume.

Operator

Good morning, ladies and gentlemen, and welcome to the B3 Earnings Results Presentation for the Third Quarter of 2025, where Andre Milanez, B3's CFO, will discuss the results along 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

Hello. I'm Fernando Campos from B3's Investor Relations team, and it's a pleasure to welcome you to another earnings event where Andre Milanez, B3's CFO, and I will analyze the results of the third 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. Well, the 3rd quarter once again reaffirmed the strength and efficiency of our business model.

Even in a challenging period for the equities and derivatives

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