HELEX H1 2010 financial results - 28 July 2010

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Press Release

HELEX H1 2010 financial results
 €10m net after tax profits

28 July 2010The consolidated net after tax profits of HELEX in the first half of 2010 amounted to €10.0m compared to €16.9m in the corresponding period last year, reduced by 41%. It should be noted that this year's results include €7.9m in "extraordinary social responsibility tax", which was imposed on businesses on their profits for fiscal year 2009 (Law 3845/2010).

The consolidated turnover of the Group in the first half of 2010 was €35.5m compared to €32.0m in H1 2009, increased by 11%.

The operating expenses of the Group were reduced by 6% in H1 2010 and amounted to €10.9m compared to €11.6m in the corresponding period last year.

Thus, the net profits per share in H1 2010, including the extraordinary tax, amounted to €0.15 vs. €0.26 in H1 2009.

In particular, the turnover in the second quarter amounted to €16.4m, reduced by 15% compared to the second quarter of 2009. Revenue from clearing in the cash market in Q2 was €4.8m, a 25% reduction compared to Q2 2009 (€6.4m). Revenue from trading in the cash market was reduced by 24% in Q2, and amounted to €3.1m vs. €4.1m in the corresponding period last year. Revenue from listed companies in Q2 amounted to €1.3m, reduced by 37% compared to Q2 2009 (€2.1m). Finally, revenue from the derivatives market (trading and clearing) amounted to €2.6m in Q2, compared to €2.2m in the corresponding quarter last year, an 18% increase.

The operating expenses of the Group in Q2 2010 amounted to €5.6m vs. €5.9m in the corresponding period last year, reduced by 4%.

The net profitability of the Group in Q2 2010 (excluding the extraordinary tax), amounted to €8.1m vs. €11.0m in Q2 2009, reduced by 26%.

HELEX's financial statements are posted on the Company's website (www.helex.gr).