HELEX 2007 financial results - 18 Feb 2008
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Press Release
HELEX 2007 financial results
€91 ml. net after tax profits, increased by 57%
18 February 2008 - The Board of Directors of HELEX, at its meeting today, approved the financial statements for the period 1.1.2007 to 31.12.2007 and decided to propose to the Annual General Meeting, which will take place on May 14th 2008, the distribution of €0.75 per share as dividend compared to €0.50 for the previous fiscal year.
Furthermore, the Board of Directors decided to propose to the Annual General Meeting for approval a share buy-back program for up to 10% of outstanding share capital of the company, in accordance with article 16 of Law 2190/1920 as it applies.
Based on the consolidated financial statements of HELEX, the net after tax profits in 2007 amounted to €91.0 ml. vs. €58.1 ml in 2006, increased by 57%.
The consolidated turnover of the Group increased by 37% to €161.5 ml vs. €118.3 ml. in 2006. This increase is due mainly to the 40% increase in revenue from the clearing of transactions in the cash market (€59.1 ml. in 2007 vs. €42.2 ml. in 2006), the more than doubling of revenue from listed companies, which amounted to €30.4 ml. in 2007 vs. €14.7 ml. in 2006.
Revenues generated from trading in the cash market amounted to €34.8 ml. vs. €39.4 ml. for the previous year, posting a 12% reduction. It should be noted that, starting on January 1st 2007, HELEX reduced the fees on share transactions by 33%, part of which was offset by the increase in trading activity.
In the derivatives market (trading and clearing), revenue increased by 19% to €10.0 ml. in 2007 vs. €8.4 ml. in 2006.
The repeating operating expenses of the Group amounted to €28.8 ml. in 2007 vs. €27.3 ml. in 2006, posting a 5% increase. The results of 2007 include a number of one-off expenses in the amount of €4.8 ml. concerning the upgrade of the technological infrastructure of the Group and the relocation to the new premises, as well as financial support to fire victims in the amount of €1.0 ml.
Thus, the operating profit (EBIT) of the Group was €116.9 ml. in 2007 compared to €81.7 ml. in 2006, increased by 43%.
HELEX's financial statements are posted on the Company's website (www.helex.gr).