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Press Release

First Half 2019 financial results

€2.4 net after tax profits

25 July 2019 - In the 1^st half (H1) of 2019, the consolidated net after tax profits of the Group amounted to €2.24m vs. €2.76m in H1 2018, reduced by 18.8%. After the adjustments for the value of the securities portfolio, the net earnings per share (EPS) in H1 2019 were €0.056 compared to €0.045 in H1 2018, while based on the guideline for the Alternative Performance Measures (APMs) published by the European Securities and Markets Authority (ESMA), the adjusted net earnings per share were €0.037 compared to €0.046 in H1 2018.

In H1 2019, total revenue of the Group was €13.7m vs. €14.1m in H1 2018, reduced by 3.2%.

Total operating expenses including ancillary services of the Group in H1 2019 decreased by 1.1% to €8.68m compared to €8.77m in H1 2018, while the consolidated Earnings Before Tax (EBT) in H1 2019 amounted to €3.2m vs. €4.0m in H1 2018, reduced by 20.4%.

Trading activity improved in 2019, with the average daily traded value increasing from €46.0m in the 1^st quarter to €88.1m in the 2^nd quarter of the year. Overall, in H1 2019 the average daily traded value was €66.7m compared to €68.1m in H1 2018, a 2.1% reduction. The average capitalization of the Greek capital market also shows a gradual improvement in 2019 (Jan: €46.5bn, June: €57.2bn), while overall in H1 2019 it dropped by 7.9% compared to H1 2018 (€51.3bn vs. €55.7bn).

The Athens Exchange General Index closed on 28.06.2019 at 868.5 points, up 14.6% compared to the close at the end of H1 2018 (757.6 points). Market liquidity, as measured by turnover velocity, increased to 32.1% in H1 2019 from 30.6% in H1 2018, while average daily volume was 35.9m shares compared to 48.5m shares (25.9% drop).

In the derivatives market, the average daily number of contracts dropped by 23.2% (48.1 thousand vs. 62.6 thousand), despite the increase of trading activity during 2019 (Jan 19.4 thousand contracts, Jun: 81.8 thousand contracts), while the corresponding trading and clearing revenue posted a 12.4% drop.

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