HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE S.A.

1st half 2023 financial results - Turnover increases by 17%; EUR6.6m net after tax earnings

Turnover in the 1st half of 2023 for the Athens Exchange Group was EUR22.9 million compared to EUR19.6m in the corresponding period last year, increased by 16.8%.

63% of the turnover of the Group is from fees on trading, clearing and settlement of trades on the Athens Exchange, posting a EUR3.1m change compared to the corresponding period in 2022, i.e. a 27.2% increase. 12% of the turnover concerns revenue based mainly on the capitalization of the market (Listings / Services to Issuers), which increased by EUR0.26m compared to the 1st half last year (+10.9%), mainly due to the increase in the size of the market. Lastly, 25% of the turnover concerns services and data provided by the Group, which dropped by 0.9% compared to the 1st half of 2022.

It is noted that in the 1st half of 2023 the Average Daily Value of Transactions was EUR110.6m, increased by 21.5% compared to the 1st half of 2022 (EUR91.0m), and the average capitalization of the Greek capital market increased by 17.3% compared to the average capitalization of the 1st half of 2022 (EUR76.0 billion vs. EUR64.8bn). The Athens Stock Exchange General Index was up 57.8% at the end of the 1st half of 2023 compared to the end of the corresponding period last year.

Total operating expenses in the 1st half of 2023 were EUR12.4m compared to EUR10.8m in the corresponding period last year, increased by 14.8%. The increase is due to higher salary costs due to the strengthening of the management team and the Group's competitiveness.

As a result of the above, the Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) in the 1st half of 2023 were EUR9.5m, increased by 18.8% compared to EUR8.0m in the corresponding period in 2022.

The consolidated Earnings Before Interest and Taxes (EBIT) in the 1st half of 2023 amounted to EUR7.7m vs. EUR5.7m in the 1st half of 2022, increased by 33.7%, and the consolidated net after tax earnings of the Group amounted to EUR6.6m compared to EUR5.4m in the 1st half of 2022, increased by 22.2%. It is noted that in the 1st half of 2022, the profitability of the Group increased due to extraordinary revenue (income from tax refunds) amounting to EUR0.6m.

Based on the guideline for the Alternative Performance Measures (APMs) published by the European Securities and Markets Authority (ESMA), the adjusted earnings per share were EUR0.114 compared to EUR0.090 in the corresponding period last year.

 

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