HELEX EUR58.1 ml. net after tax profit for 2006 - 15 Feb 2007
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Press Release
HELEX ?58.1 ml. net after tax profit for 2006
February 15, 2007 - The Board of Directors of HELEX in today's meeting approved the financial statements for the period 1.1.2006 to 31.12.2006 and decided to propose to the Annual General Meeting, which will take place on May 9th 2007, a dividend of EUR0.50 per share compared to EUR0.25 for the previous fiscal year.
In addition, the Board of Directors decided to propose to the Annual General Meeting a reduction in the share capital of the Company, and the return to shareholders of EUR0.50 per share, by a reduction in the par value of the shares from EUR1.75 to EUR1.25. It is noted that both in 2006 and 2005, special dividends of EUR1.25 and EUR2.05 respectively were returned to shareholders by the Company.
Based on the HELEX consolidated profit and loss statement for 2006, the net after tax profits were EUR58.1 ml. compared to EUR27.1 ml. in 2005, a 114% increase.
The average daily value of transactions in 2006 amounted to EUR343 ml. vs. EUR210 ml. in 2005, an increase of 63%. As a result of this change, the revenues of the Group increased by 60% to EUR118.3 ml. in 2006 compared to EUR73.8 ml. in the previous year. This increase is due to the large increase in revenues from trading in the cash market by 61% (EUR39.4 ml. in 2006 vs. EUR24.6 ml. in 2005) and from clearing & settlement in the cash market by 67% (EUR42.2 ml. in 2006 vs. EUR25.2 ml. in 2005). It should be noted that all revenue sources of the Group are increased compared to the previous fiscal year. In particular, revenue from listed companies and new listings, which are the third largest source of revenue for the Group posted an increase of 33% to EUR14.6 ml. In the derivatives market, revenue from trading amounted to EUR4.5 ml. increased by 26% and revenue from clearing and settlement approached EUR3.9 ml. increased by 28% compared to last year.
The operating expenses of the Group, excluding depreciation, amounted to EUR27.3 ml. compared to EUR28.1 ml. posting a 3% reduction, as a result of the continuing efforts of management for their reduction. Personnel remuneration and expenses, which account for 54% of total operating costs, approached EUR14.8 ml. in 2006 vs. EUR15.6 ml. in 2005, a reduction of 6%. The Group employed 326 persons at the end of 2006, compared to 385 persons at the end of 2005.