The consolidated net after tax profits of the Group amounted to EUR0.44m vs. EUR1.86m in the first quarter (Q1) of 2016, reduced by 76%. The net profits per share in the first quarter after taxes and securities valuation losses were EUR0.001 vs. EUR0.02 in Q1 2016.

The turnover of the Group was EUR5.5m in Q1 2017 vs. EUR7.7m in Q1 2016, reduced by 28%; after subtracting the Hellenic Capital Market Commission fee, total consolidated revenue was EUR5.3m vs. EUR7.35m, reduced by 27%.

Total consolidated revenue is reduced mainly due to a drop in trading activity in the cash market. In particular, in Q1 2017 average daily traded value was EUR41.5m, compared to EUR71.7m, a 42% reduction. The average capitalization of the Greek capital market increased by 13.5% compared to Q1 2016 (EUR44.3bn vs. EUR39.1bn).

The Athens Exchange General Index closed on 31.3.2017 at 666.06 points, up 15.4% compared to the close at the end of Q1 2016 (577.12 points). Market liquidity, as measured by turnover velocity, dropped to 23.4% in Q1 2017 compared to 36.5% in Q1 2016, while average daily volume was 70.4m shares compared to 124.4m shares.

In the derivatives market, the average daily number of contracts increased by 7% (71.5 thousand vs. 66.8 thousand), while the corresponding trading and clearing revenue dropped by 28% due to the drop in the prices of the underlying securities and the change in the product mix in the market. The average revenue per contract dropped by 36% to EUR0.085 compared to EUR0.133 in the corresponding period last year.

The operating expenses of the Group were reduced by 3.8% compared to Q1 2016 (EUR3.69m vs. EUR3.83m), while total operating expenses including new activities were reduced by 3.4% compared to the corresponding period last year (EUR4.02m vs. EUR4.16m).

Lastly, consolidated Earnings Before Tax (EBT) in Q1 2017 was EUR0.62m compared to EUR2.7m in Q1 2016.

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