Q4 2024 Bolsa Mexicana de Valores SAB de CV Earnings Call Transcript
Key Points
- Bolsa Mexicana de Valores SAB de CV (BOMXF) reported a strong fourth quarter with double-digit growth in revenues, EBITDA, net income, and earnings per share.
- Revenues increased by 12% to over MXN1.1 billion, driven by larger volumes in cross-border transactions and increased trading.
- EBITDA rose by 13% with a 59% margin, supported by disciplined cost management.
- Net income grew by 14%, and earnings per share increased by 16% compared to the fourth quarter of 2023.
- The company announced a dividend of MXN2.05 per share, maintaining a dividend yield above 6%, and plans to increase its share buyback program to MXN500 million in 2025.
- The company faced a decrease in revenues from SIF Icap, with a 7% drop due to lower CO2 emissions compensations and FX fluctuations.
- Listings revenue decreased by 3% due to a lower number of long-term debt issuances and no equity listings during the quarter.
- The local market activity decreased by 2%, and the market share for the quarter was reduced by 2 points due to competitive pricing changes.
- The company is awaiting regulatory approval for a new pricing structure, which could impact revenues by up to MXN100 million annually.
- Operating expenses increased by 5%, driven by personal expenses, technology investments, and sub-custody costs.
Greetings and welcome to Bolsa Mexicana de Valores fourth quarter 2024 earnings conference call. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Ramón Güémez, Chief Financial Officer. Thank you, Mr. Güémez. You may begin.
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Thank you. Good morning and welcome to Bolsa Mexicana de Valores fourth quarter 2024 earnings conference call. Before proceeding, I would like to provide a brief safe harbor statement. This presentation contains forward-looking statements and information related to Bolsa that are based on the analysis and expectations of its management, as well as assumptions made and information currently available at Bolsa.
Such statements reflect the views of Bolsa related to future events and are subject to risk, uncertainties, and assumptions. Many factors could cause the current results, performance, or achievements of Bolsa to be somewhat different
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