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Press Release

First Half 2018 financial results

€2.8 net after tax profits

30 July 2018 - The consolidated net after tax profits of the Group amounted to €2.8m vs. €1.5m in the first half (H1) of 2017, increased by 80%. Αfter the securities valuation loss of €71 thousand in 2018 compared to a gain of €57 thousand in 2017, the net earnings after tax per share in the first half were €0.045 vs. €0.026 in H1 2017, increased by 73.1%.

The turnover of the Group was €14.7m in Η1 2018 vs. €13m in Η1 2017, increased by 12,7%; after subtracting the Hellenic Capital Market Commission fee, total consolidated revenue was €14.1m vs. €12.5m, 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 €68.1m, compared to €58.9m in H1 2017, increased by 15.6%. It should be noted that for 2018 to date the average daily traded value is €61.6m. The average capitalization of the Greek capital market increased by 17.3% compared to Η1 2017 (€55.7bn vs. € 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 €0.150 compared to €0.086 in the corresponding period last year.

Total operating expenses were unchanged compared to the corresponding period last year at €8.8m, while consolidated Earnings Before Tax (EBT) in H1 2018 were €4m compared to €2.3m 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).