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B3 announces results for the third quarter of 2020

Investor Relations B3 Podcast  - 3Q2020

Click here and listen to the comments of CFO Daniel Sonder and Marcela Bretas, Investor Relations director, on B3's financial results for the 3rd quarter of 2020

São Paulo, November 12th, 2020 - B3 S.A. – Brasil, Bolsa, Balcão (“B3” or “Company”; ticker: B3SA3) reports today its third quarter 2020 (3Q20) earnings. Total revenues reached R$2,535.5 million, a 48.6% increase over the same period of the previous year (3Q19), while recurring EBITDA totaled R$1,665.7 million, up by 50.1% year-over-year (yoy). The company’s recurring net income1 totaled R$1,143.2 million.

Chief Executive Officer of B3, Gilson Finkelsztain, said: “In the third quarter of 2020, we began to see a gradual relaxation of social distancing restrictions and a controlled re-opening of the economy, even as uncertainties remain regarding possible new Covid-19 waves. In a scenario of low current inflation, and with the authorities’ intention of stimulating economic activity, monetary easing measures continued to advance during the period, with the basic interest rate reaching its lowest historical level in August (2% p.a.). This intensified local investors’ willingness to seek alternatives to diversify their portfolios. Since the beginning of the year, the number of retail investors in our depository has increased by 84%, reaching 3.1 million accounts in September, a significant growth that spurred higher volumes traded on our platforms, in line with the trend we observed in the first half of 2020. During this time of strong volumes, we continued to operate with most of our teams working remotely, prioritizing the availability and stability of our platforms, reaffirming our commitment to excellence and operational resilience, and strengthening our position as a safe and robust infrastructure for our clients and the market.”

Chief Financial and Investor Relations Officer, Daniel Sonder, added: “Sustained high volumes on our platforms contributed to a solid financial performance and strong cash generation in the third quarter. Revenue growth combined with disciplined expense management resulted in higher margins, reflecting our operational leverage. In line with our objective of having an adequate capital structure for B3, we issued local bonds in the amount of R$3.55 billion (August), and retired our Global Notes of US$612 million (July), reaching a gross debt to recurring EBITDA level of 1.2x at the end of the quarter.”

To view the complete report of the Earning Results of B3 for the Second Quarter of 2020, please click here.

About B3
B3 S.A. (B3SA3) is one of the main financial market infrastructure companies in the world and one of the largest in terms of market capitalization among global leaders in the exchange industry. Headquartered in São Paulo and with offices in London and Shanghai, B3 performs important functions in the market by promoting best practices in corporate governance, risk management and sustainability. It operates secure and resilient environments, increasing the security, solidity and efficiency of the Brazilian market and contributing to Brazil’s development.

 B3. With the market. For the future.