Conference Call Presentation
1st Quarter 2024
For additional information, please read carefully the notice at the end of this presentation
Earnings Release: 1Q 2024
CONFERENCE CALL
(with simultaneous translation)
- May 13, 2024 (Monday)
- 11am (Brasília) /10am (New York)
- https://customers.eventials.com/btg-1q24-1t24/formulario
Webcast: The conference call audio will be broadcast live via a webcast system available on our website www.btgpactual.com/ir
Participants are requested to connect 15 minutes prior to the time set for the conference calls
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1Q 2024 Highlights
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Record revenues and net income, resulting in a 22.8% ROAE
Strong NNM of R$63.8bn reflects continuous AuM/WuM expansion despite challenging macro scenario
Outstanding performance in IBD driven by record M&A revenues and strong DCM volumes
Credit Portfolio grew 5.9% q-o-q and 26.7% y-o-y, as we continue to gain market share while expanding our product offering
Successful issuance of a Senior Unsecured Note on April 8th, in the total amount of US$500mn at a fixed coupon rate of 6.45% p/a
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1Q 2024 Highlights
Total Revenues | Adjusted Net Income | Adj. ROAE | |||
(R$) | (R$) | ||||
5.9bn | 2.9bn | 22.8% | |||
22.7% y-o-y growth | 27.7% y-o-y growth | 1Q 2024 |
4Q 23 | 5.7bn | 4Q 23 | 2.8bn | 4Q 23 | 23.4% | ||
1Q 23 | 4.8bn | 1Q 23 | 2.3bn | 1Q 23 | 20.9% | ||
LTM 1Q24 | 22.6bn | LTM 1Q24 | 11.0bn | LTM 1Q24 | 23.0% |
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1Q 2024 Highlights
Net New Money | WuM | AuM/AuA | ||
(R$) | (R$) | (R$) | ||
64bn | 33% | 23% | ||
1Q 2024 | y-o-y growth | y-o-y growth |
4Q 23 | 41bn | 1Q 24 | 756bn | 1Q 24 | 880bn | ||
1Q 23 | 43bn | 4Q 23 | 713bn | 4Q 23 | 856bn | ||
LTM 1Q24 | 225bn | 1Q 23 | 568bn | 1Q 23 | 717bn |
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1Q 2024 Highlights
Unsecured Funding | Credit Portfolio | Basel Ratio | ||||||||||||
(R$) | (R$) | (R$) | ||||||||||||
26% | 27% | 16.4% | ||||||||||||
y-o-y growth | y-o-y growth | 1Q 2024 | ||||||||||||
Total | SME | Total Net Equity | ||||||||||||
1Q 24 | 225bn | 1Q 24 | 182bn | 22bn | 1Q 24 | 52bn | ||||||||
4Q 23 | 204bn | 4Q 23 | 172bn | 21bn | 4Q 23 | 49bn | ||||||||
1Q 23 | 178bn | 1Q 23 | 143bn | 15bn | 1Q 23 | 44bn |
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Performance Summary
1Q24
22.8% ROAE with another quarter of record revenue and net income
Total revenues of R$5,891mn and adj. net | Adj. cost-to-income remained below | Total assets of R$567.7bn, with BIS ratio at | |
income of R$2,889mn | historical average | 16.4% and shareholders' equity reaching | |
R$52bn | |||
• Adj. ROAE(1,2): 22.8% | • | Adj. cost-to-income ratio(3): 37.5% | • Average VaR ended the quarter at 0.36% |
• Adj. net income per unit(2): R$0.76 | • | Compensation ratio: 21.2% | of average adj. shareholders' equity |
• Acc. net income: R$2,774mn | |||
Total Revenues | Adjusted Net Income | Shareholders' Equity and ROAE(1,2) |
(R$ million) | (R$ million) | (R$ million) |
5,653 | 5,891 | |
4,803 | ||
1Q 2023 | 4Q 2023 | 1Q 2024 |
2,847 2,889
2,263
0.59 | 0.75 | 0.76 | |||||||
1Q 2023 | 4Q 2023 | 1Q 2024 |
20.9%23.4%22.8%
44,208 | 49,382 | 51,962 | ||||||||||
0.29% | 0.31% | 0.36% | ||||||||||
1Q 2023 | 4Q 2023 | 1Q 2024 |
Adj. Net Income/Unit
Notes:
- Balance sheet data as of the end of the period
- Annualized adjusted ROAE and net income per unit uses adjusted net income as the basis for the calculations
- Adjusted cost-to-income excludes only goodwill amortization
Adj. net income
Avg. Daily VaR / Avg S.E. (%) | % Annualized Adj. ROAE(1) | |||
Shareholder's Equity | ||||
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Revenue breakdown by business unit
LTM 1Q24 x LTM 1Q23 | LTM 1Q23 |
Total Revenues LTM 1Q24 = R$22.6 billion | LTM 1Q24 |
+15% | ||||||||||||||||
+73% | ||||||||||||||||
6,358 | ||||||||||||||||
5,389 | 5,507 | +23% | +18% | |||||||||||||
+15% | 3,111 | +18% | 3,260 | 3,367 | ||||||||||||
2,849 | ||||||||||||||||
2,657 | ||||||||||||||||
+107% | ||||||||||||||||
1,755 | 2,014 | 1,684 | 1,981 | |||||||||||||
135 | 280 | |||||||||||||||
24% | 31% | 28% | ||||||||||||||
18% | 16% | |||||||||||||||
15% | 14% | 15% | ||||||||||||||
10% | 9% | 10% | 9% | |||||||||||||
1% | 1% | |||||||||||||||
Sales & Trading(1) | ||||||||||||||||
Investment | Corporate Lending | Asset | Wealth | Participations | Interest & Other | |||||||||||
Banking | and Business | Management | Management and | |||||||||||||
Banking | Personal Banking |
Note: | |
(1) Includes Principal Investments | 8 |
Section 1
BTG Pactual Business Units
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Investment Banking
Outstanding performance in IBD driven by record M&A revenues and strong DCM volumes
Highlights of 1Q 2024
Strong revenues of R$654.0mn, 41.0% above the previous quarter
Revenues | Market Position Highlights1 |
(R$ million) | 1Q 2024 |
654 | |
M&A |
M&A had its best quarter ever, maintaining our leading position in the industry rankings
Strong contribution from DCM as market volumes continue to gain momentum
590
464
#1 in number of transactions in Brazil and LatAm
ECM
#2 in number of transactions in Brazil
306
260
1Q 2023 | 2Q 2023 | 3Q 2023 | 4Q 2023 | 1Q 2024 |
Note: | 10 |
(1) Source: Dealogic and Anbima |
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Banco BTG Pactual SA published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 09:21:04 UTC.