Spanish Exchange BME Posts Mixed Financial Results in Q1 2017

BME revealed that revenues pointed lower, coming in at €82.3 million, down 0.2 percent YoY compared to Q1 2016.

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 March 31, 2017, which saw mixed flows across various segments including clearing services, derivatives and stocks markets among many others.

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For Q1 2017, BME revealed that revenues pointed lower, coming in at €82.3 million ($89.4 million), down 0.2 percent YoY compared to Q1 2016.

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Stripping out the effect of extraordinary costs and those associated with the reform of clearing and settlement in Spain, operating costs in the first quarter increased by 1.7 percent in year on year terms to €53.8 million ($58.4 million).

In terms of BME’s EBITDA for Q1 2017, the figure amounted to €53.8 million ($58.4 million) – this represents a drop of 2.9 percent YoY from Q1 2016.

The main management indicators were also mixed at the end of March in year on year terms. The efficiency ratio was down 2.3 points to 35.5 percent while the Return on Equity (ROE) was higher 1.7 points to 32.3 percent, compared to a year ago.

Finally, BME reported a net profit of €39.3 million ($42.69 million) in the first quarter of 2017, down 8.3 percent from Q1 2016.

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