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Bolsa Mexicana (BOLSAA) investor relations material
Bolsa Mexicana Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Two new IPOs confirmed, with Aeromexico returning and Essentia Energy debuting; additional equity transactions under consideration.
Revenue for 3Q25 increased 4% year-over-year to 1,102 million pesos, driven by higher information services sales and increased custody of securities.
Expenses rose 8% due to higher personnel and technology costs.
CCP for Mexican government bonds approved, with first trades expected by mid-November, marking a major transformation for the fixed income market.
Strategic technology modernization underway, including a partnership with Nasdaq and migration to cloud-based platforms by 2027.
Financial highlights
9M25 revenues totaled 3,337 million pesos, up 10% from 9M24.
EBITDA for 3Q25 reached 623 million pesos with a 57% margin, up 2% from 3Q24.
Net income for 3Q25 was 393 million pesos, a 4% decrease year-over-year.
CAPEX for 3Q25 was 89 million pesos, up 78% year-over-year; 9M25 CAPEX was 189 million pesos, up 23%.
Over 75% of revenues came from post-trade, information services, and equity/capital formation activities.
Outlook and guidance
Revenue growth from new services, especially CCP for bonds and data products, expected to materialize in 2027.
EBITDA margins may decline in 2026 due to ongoing investments but are expected to recover to current levels by 2027.
CapEx for 2025 and 2026 projected above MXN 250 million, potentially exceeding MXN 300 million, driven by technology transformation.
Underlying business growth expected to remain around 7% in 2026, adjusted for FX.
Macroeconomic factors such as exchange rate volatility and inflation influenced results, with the peso depreciating 8% against the dollar in 9M25.
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Next Bolsa Mexicana earnings date
Q4 202511 Feb, 2026
Next Bolsa Mexicana earnings date
Q4 202511 Feb, 2026
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Frequently asked questions
Bolsa Mexicana de Valores S.A.B. de C.V., also known as BMV Group, is a financial services company based in Mexico City, Mexico. Established in 1894, it owns and operates the Mexican Stock Exchange, among other financial service entities. These include the custody institution Indeval, the derivatives exchange MexDer, and the market data provider ValMer. The BMV Group is integral to Mexico's financial infrastructure, offering a range of services that include stock exchange operations, stock listing, clearing, custody, settlement, and market data dissemination. The company's revenue streams mainly derive from stock trading, stock maintenance, OTC trading, and custody services.
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