Equities
The Equities business remains the most important leg of
BME’s model. In 2013 it contributed 38.2% of the Group’s
total revenue and 39% of EBITDA; this revenue was
generated by activities derived almost exclusively from
the trading of shares, ETFs, warrants and certificates on
its platforms. In 2013, this business line’s contribution to
Group revenue rose a significant 1.2 percentage points
over the 2012 contribution; the EBITDA contribution
was 1.9 points higher. The growth in profitability was
driven by topline growth of 6.8%, coupled with lower
costs. EBITDA in this division amounted to €84.47 million
(+10.4%), which is the result of subtracting expenses of
€31.4 million from revenue of €115.9 million.
Equity. Key figures...
2013
2012
%
...for business
Revenue (million euros)
115,956
108,595
6.8
Costs (million euros)
-31,482
-32,071
-1.8
EBITDA (million euros)
84,474
76,254
10.4
...for revenue sources
Trading (million euros)
704,522
699,768
0.7
Shares
Cash (million euros)
699,484
696,251
0.5
Number of trades
48,541,400
40,553,230
19.7
Average trade value (euros)
14,410
17,169
-16.1
ETFs
Cash (million euros)
4,284
2,736
56.6
Number of trades
65,493
55,012
19.1
Warrants
Cash "premiums" (million euros)
754
781
-3.5
Number of trades
179,473
202,714
-11.5
Total instruments traded (million)
200,715
198,334
1.2
Capitalisation of shares (million euros)
1,045,203
945,935
10.5
Source: BME
34
Business Areas
Annual
Report 2013
BME
JorgeYzaguirre, Director of Equities and Derivatives, BME, during the
Morningstar Awards.
1...,24,25,26,27,28,29,30,31,32,33 35,36,37,38,39,40,41,42,43,44,...236