Nuam (NUAM) Q1 2026 earnings summary

Executive summary

• Operating revenue grew 17% year-over-year, reaching CLP 40.7 billion, with double-digit growth in nearly all business lines except information.

• EBITDA margin expanded to 49%, up from 41%–43% in prior periods, and net profit rose 47% year-over-year to CLP 9.7 billion.

• Regional integration advanced with new trading platforms in Colombia and Peru, and Chile go-live expected by mid-2026.

• Disciplined cost control and a 70% dividend payout ratio reflect confidence in sustained cash generation.

• Operational margin improved to 37% from 30% year-over-year.

Financial highlights

• Operating revenues reached CLP 40.7 billion (M$40,726,295), up 17% year-over-year, with trading revenues up 33% and non-trading revenues up 14%.

• EBITDA grew 38% year-over-year to CLP 19.85 billion (M$19,851,724), with margin reaching 49%.

• Net profit margin improved to 24%, up from 19% in 1Q25.

• Market capitalization increased 43% year-over-year; equity volumes up 75%, fixed income 29%, derivatives 21%.

• Cash position and liquidity improved, with cash and equivalents at M$56,328,880 and a 45% year-over-year increase.

Outlook and guidance

• Expectation to maintain strong EBITDA margins for 2026, with synergies from integration mainly realized from 2027 onward.

• CapEx for 2026 budgeted at $18 million, declining toward $12–14 million by 2027.

• Clearing platform rollout in Chile and Colombia expected by first half of 2027; Peru contingent on regulatory approval.

• Regional go-to-market strategy progressing, with Chile integration expected in the first half of 2026.

• Focus on scalable, recurring revenue streams and disciplined capital allocation.