Chile · Delayed Price · Currency is CLP Nuam S.A. Earnings Call Transcripts
Fiscal Year 2026
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Full-year 2024 saw 13% revenue growth, 28% higher EBITDA, and a 22% rise in net profit, with strong performance across all business lines and improved margins. Integration progress, increased dividend payout, and ongoing regulatory approvals set the stage for 2025.
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Third quarter 2025 saw 5% revenue growth quarter-over-quarter, strong equity and fixed income volumes, and continued progress on market integration. EBITDA was stable, with net profit impacted by non-ordinary items, but outlook remains positive as integration and fee structure improvements advance.
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Q1 2025 saw 3% revenue growth and a 360% surge in net profit, driven by trading and value-added services. EBITDA margin declined to 41% due to integration costs, but net margin rose to 19%. Dividend payout increased, and integration projects and regulatory approvals remain key focus areas.
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Q2 2025 saw a strong rebound with revenues, EBITDA, and net profit all up sequentially, driven by robust market activity and progress on the integrated trading platform. Year-to-date results remain flat due to one-off events last year and integration costs, but significant synergies and growth are expected from 2026 as legacy systems are retired.
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Revenue and EBITDA grew 7% and 5% year-over-year, respectively, with strong equity market performance and significant progress in technology integration. Margin expansion is expected from 2027 as integration synergies are realized, and the dividend payout ratio has increased to 70%.
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Operating revenue grew 17% year-over-year, with EBITDA margin rising to 49% and net profit up 47%. Integration milestones were achieved in Colombia and Peru, with Chile's go-live imminent and full regional integration targeted for 2027. CapEx is declining, and cost synergies are expected to materialize mainly in 2027–2028.
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Third quarter results showed 15% revenue growth and a 45% EBITDA margin, with net profit up 23% year-over-year. Final PPA adjustments reduced future depreciation, and integration projects remain on track for 2025 deployment. Dividend payout is set at 50% of profits during the investment phase.