Earnings Presentation
2nd quarter 2022 (2Q22)
Aug 11th, 2022
Historical and Inflation adjusted results(*)
According to IAS 29, BYMA must present its financial statements in inflation-adjusted terms. In historical terms, 2Q22 net income totaled ARS 3.5 billion, more than twice the result of the same quarter of 2021. After inflation adjustment, net income was negative by ARSS 946 million, because of the effect of inflation on our investments.
ARS million | Historical | Adjusted by inflation | |||||||||||
2Q21 | 2Q22 | 2Q21 | 2Q22 | ||||||||||
CSD | 645.2 | 903.6 | 1,092.9 | 972.3 | |||||||||
Exchange | 640.9 | 965.9 | 1,082.2 | 1,013.6 | |||||||||
Other operating income | 388.3 | 276.0 | 723.9 | 313.2 | |||||||||
Revenues | 1674.3 | 2145.6 | 2899.1 | 2299.1 | |||||||||
Inflation adjustment impact | - | - | - | 3,347.2 | - | 4,653.9 | |||||||
Total expenses | - | 881.2 | - | 1,147.4 | - | 1,620.7 | - | 1,389.0 | |||||
Financial income | 1,344.1 | 2,781.0 | 2,173.5 | 2,953.3 | |||||||||
Other gain/loss | - | 25.3 | - | 24.5 | 3.9 | 8.5 | |||||||
Participation in other companies | 28.5 | 60.4 | - | 22.5 | - | 7.1 | |||||||
Income tax | - | 474.0 | - | 307.8 | - | 708.7 | - | 157.2 | |||||
Net income | 1,666.5 | 3,507.2 | - | 622.5 | - | 946.3 | |||||||
(*) This side is the only one showing inflation adjusted figures. The rest of the presentation shows historical data. | 2 |
CSD business: Assets under Custody (AUC)
Nominal value of AUC (2Q-22 average), added to 3,539 thousands of millions, increasing by 2,7% against 1Q-22 and 47% more than in 2Q-21.
AuC experienced a reduction in June explained by the
AuC by asset class
Central Bank (BCRA) repurchase program.
AuC valued at market prices (2Q-22 average) reached ARS
10% 4%
Public Debt
Treasury and Central bank bills
11,531 thousand of million, 18% above the value of 1Q-22 and 61% higher y-o-y.
38% Trusts
19%
Equity
2% | Private Debt |
27% | Others | |||||||||||||||||||||||||||||||
AuC Nominal Value - Monthly evolution | AuC Market value - Monthly evolution | |||||||||||||||||||||||||||||||
Millions | +32% | 3,257,180 | ARS Million | |||||||||||||||||||||||||||||
+61% | ||||||||||||||||||||||||||||||||
jan-20 | Feb-20 | Mar-20 | apr-20 | May-20 | Jun-20 | Jul-20 | aug-20Sep-20Oct-20Nov-20 | dec-20 | jan-21 | Feb-21 | Mar-21apr-21May-21 | Jun-21 | Jul-21aug-21Sep-21 | Oct-21Nov-21 | dec-21jan-22Feb-22 | Mar-22 | apr-22May-22Jun-22 | jan-20 | Feb-20 | Mar-20 | apr-20 | May-20 | Jun-20 | Jul-20 | aug-20 | Sep-20 | Oct-20Nov-20dec-20 | jan-21Feb-21Mar-21apr-21May-21 | Jun-21Jul-21aug-21Sep-21Oct-21 | Nov-21dec-21jan-22 | Feb-22 | Mar-22 |
11,523,723
22-apr22-May22-Jun3
CSD business: Revenues
CSD revenues were ARS 904 million. This implied a 40% growth against 2Q-21 and explained 42% of BYMA's 2Q-22 total revenues. 72% of CSD revenues originated in ADC Services, which grew 47% against 2Q-21.
Assets Under Custody | +61% | |||||||||||||||||||
14,0 00,00 0 | ARS Millions | |||||||||||||||||||
12,0 00,00 0 | 11,531,098 | |||||||||||||||||||
10, 000,0 00 | 8,780,281 | |||||||||||||||||||
8, 000, 000 | 6,219,838 | 7,160,639 | ||||||||||||||||||
4,347,128 | ||||||||||||||||||||
6, 000, 000 | ||||||||||||||||||||
4, 000, 000 | ||||||||||||||||||||
2, 000, 000 | ||||||||||||||||||||
- | ||||||||||||||||||||
1Q 20 | 2Q 20 | 3Q 20 | 4Q 20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 1Q22 | 2Q22 | |||||||||||
CSD Revenues | 904 | |||||||||||||||||||
ARS Millions | ||||||||||||||||||||
780 | 202 | |||||||||||||||||||
685 | 702 | |||||||||||||||||||
644 | 645 | 16 | ||||||||||||||||||
200 | ||||||||||||||||||||
139 | 584 | 164 | 168 | 14 | ||||||||||||||||
166 | ||||||||||||||||||||
477 | 487 | 13 | ||||||||||||||||||
456 | 11 | 156 | 13 | |||||||||||||||||
12 | ||||||||||||||||||||
100 | 96 | |||||||||||||||||||
93 | 11 | |||||||||||||||||||
10 | 9 | |||||||||||||||||||
10 | 686 | |||||||||||||||||||
493 | 508 | 521 | 566 | |||||||||||||||||
417 | 468 | |||||||||||||||||||
381 | ||||||||||||||||||||
367 | 353 | |||||||||||||||||||
1Q 20 | 2Q 20 | 3Q 20 | 4Q 20 | 1Q 21 | 2Q 21 | 3Q 21 | 4Q 21 | 1Q 22 | 2Q 22 | |||||||||||
Additional services | ACRyP services | ADC services | ||||||||||||||||||
2Q 21 | 2Q 22 | YoY $ | YoY % | |
CSD (ARS Millions) | 645.2 | 903.6 | 258.4 | 40.1% |
ADC Services | 467.7 | 686.1 | 218.5 | 46.7% |
ACRyP Services | 11.9 | 15.8 | 4.0 | 33.7% |
Additional services | 165.7 | 201.6 | 36.0 | 21.7% |
Sovereign bond's coupon payments recovered in 2021, which strengthened the growth of ADC revenues.
The reduction in the activity of foreign investors results in a lower growth of Additional Services.
4
Exchange business: revenues
Exchange business revenues (ARS 966 million) grew 51% y-o-y and explained 45% of BYMA 2Q-22 revenues. As in the previous quarter, equity trading continues to be the main explanatory variable.
Exchange Revenues | ||||||||||||||||||||
ARS Millions | +51% | Exchange Revenue Share | ||||||||||||||||||
966 | Equity | |||||||||||||||||||
874 | 885 | 70 | 0% | 7% | ||||||||||||||||
44 | 51 | 0% | Fixed income | |||||||||||||||||
752 | 8% | |||||||||||||||||||
35 | ||||||||||||||||||||
641 | 2% | On-exchange repo | ||||||||||||||||||
564 | 581 | 39% | ||||||||||||||||||
600 | 523 | 27 | ||||||||||||||||||
24 | Options | |||||||||||||||||||
449 | 22 | |||||||||||||||||||
10 | 817 | |||||||||||||||||||
765 | 759 | |||||||||||||||||||
12 | Futures | |||||||||||||||||||
656 | ||||||||||||||||||||
307 | 22% | |||||||||||||||||||
492 | 496 | 553 | ||||||||||||||||||
9 | 469 | Securities lending | ||||||||||||||||||
398 | ||||||||||||||||||||
261 | ||||||||||||||||||||
Market Data | ||||||||||||||||||||
37 | 39 | 44 | 50 | 61 | 61 | 61 | 65 | 75 | 79 | 22% | Others | |||||||||
1Q 20 | 2Q 20 | 3Q 20 | 4Q 20 | 1Q 21 | 2Q 21 | 3Q 21 | 4Q 21 | 1Q 22 | 2Q 22 | |||||||||||
Market Data | Trading C&S fees | Other fees | ||||||||||||||||||
2Q 21 | 2Q 22 | YoY $ | YoY % | |
EXCHANGE (ARS Millions | 640.9 | 965.9 | 325.0 | 50.7% |
Trading C&S fees | 552.8 | 816.8 | 264.0 | 47.7% |
Market Data | 60.6 | 79.0 | 18.4 | 30.3% |
Other fees | 27.5 | 70.2 | 42.7 | 155.4% |
The different asset classes reflected similar growth rates in their traded values.
5
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Bolsas y Mercados Argentinos SA published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 23:10:02 UTC.