Nuam (NUAM) Q2 2026 earnings summary

Executive summary

• Achieved record financial and operational results in Q2 2026, driven by disciplined execution of a multi-country integration strategy and robust market conditions in Chile, Colombia, and Peru.

• Revenue for the six months ended June 2026 reached M$84,420,848, a 19% increase year-over-year, driven by strong performance in Deposits, Negotiation, and Chambers lines.

• Net income attributable to controlling interests was M$20,025,267, up from M$13,978,773 in the prior year period.

• Integration milestones included the rollout of a unified trading platform across all three countries and significant regulatory advances, supporting future growth.

• Operational margin improved to 37% from 32% year-over-year, reflecting efficiency gains and revenue growth.

Financial highlights

• Q2 2026 revenues rose 20% year-over-year to CLP 43.7 billion; EBITDA up 27% and net income up 40%.

• EBITDA margin expanded to 48.3% from 45.7% a year ago; net margin reached 28.4% versus 24.3%.

• Year-to-date, top line grew 19% to CLP 84.4 billion, EBITDA up 32% to CLP 41 billion, and net profit up 43% to CLP 22 billion.

• Deposits contributed 32% of total revenue, with Colombia's Centralized Securities Depository accounting for 73% of this line.

• Operating expenses rose 9% year-over-year, mainly due to higher technology, employee benefits, and depreciation/amortization costs.

Outlook and guidance

• Cost growth expected to remain contained through year-end, with further margin expansion anticipated as integration synergies are realized.

• Revenue growth is expected to continue, supported by integration synergies and expansion in alternative financing markets.

• Mid-term strategy and EBITDA margin targets likely to be revised upwards, with full integration benefits yet to be realized.

• Clearing platform in Colombia targeted to go live by year-end 2026, with Chile following in H1 2027 and Peru later, pending regulatory approval.

• Ongoing investments in technology and regional integration are anticipated to drive further operational efficiencies.