The Brazilian Securities, Commodities and Futures Exchange’s GAAP Net income of BRL188.1 million for the second quarter of 2009 was up 13.9% from the same period a year earlier, whereas adjusted net income of BRL325.4 million soared 32.1% compared to the adjusted pro forma net income for 2Q08.
2Q09 net revenues of BRL378.2 million declined 14.7% from 2Q08. In comparison, in the first six months of 2009, net revenues dropped 17.3% to BRL694.8 million.
2Q09 operational expenses reached BRL128.2 million, a 13.6% slump from one year ago. As adjusted by items with no impact on cash flow, such as depreciation and the employee stock options plan, operational expenses for the quarter amounted to BRL104.9 million, a 25.3% decline from adjusted expenses for the same period a year earlier, and in line with the BRL450.0 million target for the year.
EBITDA totaled BRL259.9 million for the quarter, down 14.2% from 2Q08, and BRL436.7 million for the first six months of 2009, a year-on-year drop of 24.0%. EBITDA Margin was stable between 2Q09 (68.7%) and 2Q08 (68.6%). The board of directors approved the distribution of BRL175 million composed of interest on shareholders’ equity in the amount of BRL141.5 million and dividends in the amount of BRL 33.5 million.
L.D.