HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE S.A.

Athens Exchange Group Nine month 2019 financial results - EUR5.9m net after tax profits

In the nine months (9M) of 2019, the consolidated net after tax profits of the Group amounted to EUR5.9m vs. EUR2.3m in 9Μ 2018, increased by 157%. After the adjustments for the value of the securities portfolio, the net earnings per share (EPS) in 9M 2019 were EUR0.116 compared to EUR0.029 over the corresponding period last year. Based on the guideline for the Alternative Performance Measures (APMs), the adjusted net earnings per share were EUR0.098 compared to EUR0.038 over the corresponding period last year.

In 9M 2019, total revenue of the Group was EUR24.6m vs. EUR19.2m in 9M 2018, increased by 28.7%.

Total operating expenses including ancillary services of the Group in 9M 2019 decreased by 0.6% to EUR13.5m compared to EUR13.6m in 9M 2018, while the consolidated Earnings Before Tax (EBT) amounted to EUR8.3m vs. EUR3.4m, increased by 146%, due to the support for corporate actions by listed companies.

The average daily traded value was EUR67.2m compared to EUR57.4m over the corresponding period last year, a 17.0% increase. The average capitalization of the Greek capital market shows a gradual improvement in 2019, while overall in 9M 2019 it dropped by 1.3% compared to 9M 2018 (EUR53.6bn vs. EUR54.3bn).

The Athens Exchange General Index closed on 30.09.2019 at 868.4 points, up 25.6% compared to the close at the end of 9Μ 2018 (691.7 points). Market liquidity, as measured by turnover velocity, increased to 31.3% in 9Μ 2019 from 26.4% in 9Μ 2018, while average daily volume was 34.1m shares compared to 38.7m shares (11.9% drop) over the corresponding period last year.

In the derivatives market, trading and clearing revenue increased by 6.3%. The average daily number of contracts dropped by 20.1% (45.7 thousand vs. 57.2 thousand), while the average daily nominal value dropped by 3.8%.

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