Bolsas y Mercados Españoles (BME), the operator of all stock markets and financial systems in Spain, has reported its consolidated results for the three months ending September 30, 2016, which saw mixed flows across various segments including clearing services, derivatives and stocks markets among many others.
For Q3 2016, BME revealed that revenues pointed lower, coming in at €74.6 million ($81.44 million), down 10.4 percent YoY from €83.3 million ($90.96 million) in Q3 2015.
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Operating costs in the third quarter decreased by 3.2 percent in year on year terms to €24.6 million ($26.85 million), bringing the figure in the first nine months of the year to €76.6 million ($83.63 million), a 1.7 percent YoY drop. Stripping out the effect of extraordinary costs and those associated with the reform of clearing and settlement in Spain, operating costs in Q3 2016 added 3 percent while the increase through September was 2.7 percent compared to the same period in 2015.
In terms of BME’s EBITDA for Q3 2016, the figure amounted to €48 million ($52.39 million) – this represents a drop of 17 percent YoY from €57.8 million ($63.09 million) in Q3 2015. Across the first nine month interval, EBITDA totalled €161.6 million ($176.45 million), down 17 percent from €186.6 million ($203.75 million) in the year earlier.
The main management indicators remained favourable at the end of September in year on year terms. The efficiency ratio improved 3.7 points to 32.9 percent while the Return on Equity (ROE) was lower 3.8 points to 37.3 percent, compared to a year ago.
Earnings per share until September 2016 amounted to €1.45 per share which reflects a YoY decraese of 8.8% from €1.59 in 2015.