Bolsas y Mercados Argentinos S A : Earnings Presentation 4Q22

Earnings Presentation

4th quarter 2022 (4Q22)

Mar 9th, 2023

REMARKABLE YEAR END 2022 (*)

Table shows FY 2022. Operating margin grew 35% in real terms, due to higher revenues and lower expenditures. Net Income was nearly threefold in historical terms from previous year.

ARS Million		Historical
	2022			2021
CSD	4,021.7			2,616.1
Exchange	4,963.4			2,848.1
Other operating income	3,400.2			1,030.5
Revenues		12,385.3			6,494.7

Adjusted by inflation

2022	2021
5,450.4	6,094.3
6,589.1	6,548.6
4,725.2	2,555.4
16,764.7	15,198.3

Inflation adjustment impact

Total expenses

Financial income

Other gain/loss

Participation in other companies

Income tax

-	-
-5,259.3	-3,346.6
18,009.4	6,024.5
23.7	-71.1
352.5	129.2
-2,631.1	-1,443.7

-28,751.9	-19,741.0
-7,748.7	-8,565.7
22,654.2	13,319.2

-11.667.8

59.212.7

-2,361.0-2,708.1

Net income	22,880.5

7,787.1 604.9

-2,416.9

(*) This slide is the only one showing inflation adjusted figures. The rest of the presentation shows historical data.

2

CSD BUSINESS: ASSETS UNDER CUSTODY ACCELERATE THEIR GROWTH

Assets under custody (AUC, 4Q22 average), measured at nominal value recovered and almost reached the previous all-time high. This was explained by Treasury bills and ABS to a lesser extent.

The market value of AuC (4Q22 average), accelerated its growth from previous quarter, reaching a a new record.

AuC by asset class

5%		Public Debt

12%

Treasury and Central bank bills

40%		Trusts

23%		Equity
	Private Debt
		Others

As of 4Q22, AuC market value reached ARS 15.1 billion, +73% y-o-y

AuC Nominal Value - Quarterly evolution

3,525,396

Millions

+30% 3,314,371

2,708,525

2,582,514

2,403,753

2,040,280 2,195,524

2,049,540

1,806,350

1,606,582

4%

16%

AuC Market value - Quaterly evolution	15,158,336
ARS Millions

+73% 12,645,311

11,531,098

9,745,906

8,780,281

7,796,950

7,160,639

6,195,2356,219,8386,200,051

3,799,7524,347,128

1Q 20

2Q 20

3Q 20

4Q 20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

3

1Q 20

2Q 20

3Q 20

4Q 20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

CSD BUSINESS: REVENUES ARE SHOWING MAXIMUM GROWTH IN 2022

In line with AuC growth, CSD revenues reached ARS 1.303 millions representing an annual increase of 86%.

It is worth mentioning the growth of ACRyP Services due to the repricing implemented end of 3Q22.

CSD revenues growth is explained by more assets under custody and higher coupon payments.

										4Q 21	4Q 22	YoY $	YoY %
	CSD (ARS Millions)					702.1		1,303.5	601.4	85.7%
	ADC Services					520.8		949.8	429.0	82.4%
	ACRyP Services					13.0		33.4	20.4	156.9%
	Additional services					168.3		320.3	152.0	90.4%
							CSD Revenues							1,303
							ARS Millions
																1,035	320
															904			33
												780				271
													202
										685	702					18
					644		645				16
					584		168	200
									164
477				487	139		166	14
456	156	13	13
	96	11	12							950
100	93		11
10	10		9											686	746
									566
					493		468	508	521
367	353	381	417
1Q 20	2Q 20	3Q 20	4Q 20	1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22	3Q 22	4Q 22
			Additional services				ACRyP services				ADC services

4

EXCHANGE BUSINESS: REVENUES GROWS STRONGLY DUE TO A INCREASED ACTIVITY

Exchange business revenues grew 82% YoY. It was the sixth consecutive quarter in which exchange business revenues exceeds those of the CSD. Trading, Compensation and Settlement represented 87% of the YoY increase.

						Exchange Revenues					Exchange Revenue Share
									1,588
							ARS Millions		+82%	84	93	6%		Equity
		Market Data												Fixed income
												7%
		Trading C&S fees						885	966			3%		On-exchange repo
									874					Options
		Other fees						70			42%
						752	44	51		1,385
							1,346	20%		Futures
						581	641	35
					564
				523	27									Securities lending
			449	22	24
			10			765	759	817
307	12										Market Data
				656
		492	496	553
9		469
398								22%		Others
261	44	50	61	61	61	65	75	79	94	110
37	39
1Q 20	2Q 20	3Q 20	4Q 20	1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22	3Q 22	4Q 22

	4Q 21	4Q 22	YoY $	YoY %
EXCHANGE (ARS Millions)	873.6	1,588.4	714.8	81.8%
Trading C&S fees	764.7	1,385.2	620.5	81.1%
Market Data	65.4	110.5	45.1	69.0%
Other fees	43.5	92.7	49.2	113.1%

Equity trading continues being the main component of revenues, but its share went down to 42% from 50%, after the growth of fixed income and on-exchange repos.

5