HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE S.A.

First Half 2018 financial results - EUR2.8 net after tax profits

The consolidated net after tax profits of the Group amounted to EUR2.8m vs. EUR1.5m in the first half (H1) of 2017, increased by 80%. Αfter the securities valuation loss of EUR71 thousand in 2018 compared to a gain of EUR57 thousand in 2017, the net earnings after tax per share in the first half were EUR0.045 vs. EUR0.026 in H1 2017, increased by 73.1%.

The turnover of the Group was EUR14.7m in Η1 2018 vs. EUR13m in Η1 2017, increased by 12,7%; after subtracting the Hellenic Capital Market Commission fee, total consolidated revenue was EUR14.1m vs. EUR12.5m, increased by  12.6%.

Total consolidated revenue is increased mainly due to an increase in trading activity in the cash market in H1 2018. In particular, average daily traded value was EUR68.1m, compared to EUR58.9m in H1 2017, increased by 15.6%. It should be noted that for 2018 to date the average daily traded value is EUR61.6m. The average capitalization of the Greek capital market increased by 17.3% compared to Η1 2017 (EUR55.7bn vs. EUR 47.5bn).

The Athens Exchange General Index closed on 30.6.2018 at 757.57 points, decreased by 8% compared to the close at the end of H1 2017 (823.74 points). Market liquidity, as measured by turnover velocity, decreased slightly to 30.6% in H1 2018 compared to 31% in H1 2017, while average daily volume was 48.5m shares compared to 85.5m shares.

In the derivatives market, the average daily number of contracts decreased by 25.7% (62.6 thousand vs. 84.2 thousand), while the corresponding trading and clearing revenue increased by 26.7% due to the increase in the prices of the underlying securities and the change in the product mix in the market. The average revenue per contract increased by 73.7% to EUR0.150 compared to EUR0.086 in the corresponding period last year.

 

Total operating expenses were unchanged compared to the corresponding period last year at EUR8.8m, while consolidated Earnings Before Tax (EBT) in H1 2018 were EUR4m compared to EUR2.3m in H1 2017, increased by 69%.

The financial statements of the Group and the Company are posted on the Company's website (www.athexgroup.gr).