Investor Presentaiton
COL Investor Presentation
12
Commissions Hurt by Poor
Sentiment
Revenues fell by 50.7% due to the significant decline in
commissions and the absence of other income.
Commission revenues fell by 58.5% to Php265.7 Mil, as
commissions from self-directed clients dropped 63.4%
to Php217.8 Mil coming from an abnormally high base
in the first quarter of last year and as sentiment
deteriorated significantly. Recall that speculative issues
traded actively in January of last year. Meanwhile,
investor sentiment deteriorated starting March of this
year due to high inflation, rising rates, an aggressive Fed
and the war in Ukraine.
The decline in commission from self-directed clients was
partly offset by the 4.6% increase in commissions from
the agency and advisory group to Php46.0 Mil.
Revenues last year also benefited from the booking of
gains from the sale of financial assets which did not
recur this year.
Pro Forma Revenue Breakdown (Php Mil)
Change
1H21
1H22 Amount
%
Revenue Breakdown
Commission
639.9
265.7
(374.2)
-58.5%
PH-Self-directed
595.9
217.8
(378.1)
-63.4%
PH- Agency & advisory
43.9
46.0
2.0
4.6%
HK & others
4.4
1.8
(2.5)
-58.0%
Interest
84.2
110.6
26.4
31.4%
Margin
24.8
28.6
3.8
15.5%
Placements
59.4
82.0
22.6
38.0%
Trailer Fees
10.2
11.4
1.1
11.0%
Others
52.9
0.8
(52.1)
-98.5%
Total Revenues
787.2
388.4
(398.8)
-50.7%
Revenue Share
Commission
81.3%
68.4%
Self-directed (incl HK)
93.8%
82.7%
Agency & advisory
Interest
6.9%
17.3%
10.7%
28.5%
Margin
29.4%
25.8%
Placements
70.6%
74.2%
Trailer Fees
1.3%
2.9%
COL FINANCIALView entire presentation