BME posts a net profit of €164.9 m. in 2014, up 15.2% year on year
Revenue during the fourth quarter was 14.2% higher than that generated a year earlier -totalling €93.4 million; €342.5 million over the entire year (+11.3%). The largest contributors to the increase in revenue and profit for the year were the Equity, Information, IT and Consulting, and Derivatives business units.
Operating costs in 2014 totalled €103.5 million, up 4.3% year-on-year. Fourth quarter operating costs stood at €29.3 million, 18.4% higher than a year earlier. The additional operating costs are those incurred by the Settlement and Registration business unit and the Clearing business unit as a result of the migration and adaptation activities carried out to comply with new European regulations and the reform of the Spanish Clearing and Settlement System.
EBITDA for 2014 increased by 14.6% year-on-year to €239 million. Meanwhile, the EBITDA of €64.1 million posted in the fourth quarter was 12.5% higher than in the same period of the previous year.
Both returns on equity (ROE) and the operating cost/income ratio (efficiency ratio) improved year-on-year. ROE climbed 5 points during the year from 35.9% to 40.9%, while the efficiency ratio improved 2 points from 32.2% at the 2013 close to 30.2%.
Earnings per share in 2014 totalled €1.98, of which €0.51 corresponded to the fourth quarter.
Turnover continued to recover throughout 2014 compared to performance of previous years. Turnover from cash trades totalled €884.7 billion in 2014, 25.6% more than in 2013. Turnover from equity trades totalled €270.7 billion in the fourth quarter of 2014, 23.4% higher than in the same period in 2013.
The number of trades hit an all-time high in the year reaching 71.1 million, up 45.8% on the maximum a year earlier. The trend in the number of trades highlights the interest in and upturn in activity enjoyed by the Spanish market during the year thanks to the large investor and algorithmic trading segment, which is more intensive in terms of trade numbers.
EBITDA accumulated by the business unit during the year amounted to €118.4 million, having increased by 26.2% year-on-year.
The total amount of investment flows channelled into the Exchange was €36.1 billion in 2014, a 12.5% surge in new funds released onto the market compared to 2013; positioning the exchange second in the European rankings in terms of funds placed. Of this amount €14 billion was placed in the last quarter, up 113.7% from the same period in 2013.