Warsaw Stock Exchange’s Financial Results

Warsaw Stock Exchange’s Financial Results

09/11/2011

  • Record-high sales revenues in Q3 2011: PLN 70.4 million, up by 30.5 % year on year.
  • WSE Group’s quarterly net profit: PLN 38.1 million, up by 71.6% year on year; incremental profit of Q1-3 at PLN 109.6 million, greater than the annual profit of 2010.
  • Operating profit: PLN 34.2 million, up by 55,0% year on year.
  • EBITDA: PLN 41.8 million, up by 36.2%.
  • EBITDA margin: 59.3 percent, up by 2.5 percentage points year on year.
  • ROE: 25.4%, up by 7.3 percentage points.
  • EPS: PLN 0.91 in Q3 and PLN 2.60 in Q1-3 2011.

We have kept our promise. The listing of two decades – the IPO of the Warsaw Stock Exchange on the market operated by the WSE – has exerted a strong positive impact on investors and issuers. This is demonstrated not only by a record-high growth rate of the parameters of the markets operated by the WSE but also by increasingly robust financial results,” said WSE CEO Ludwik Sobolewski. 

The WSE Group closed Q3 2011 with record-high sales revenues exceeding PLN 70.4 million and a net profit of PLN 38.1 million, which was PLN 15.9 million more than a year earlier. The incremental consolidated profit of the Group in Q1-3 was PLN 109.6 million, an increase of 43% year on year and 15.6% more than the annual profit of 2010. The very good results were driven by sustainable growth of all the main business segments of the Group.

The listing revenues increased by 31.8% to PLN 6.1 million driven by:

- 61 IPOs on the Main Market and NewConnect in Q3 (excluding transfers between the markets), which was the highest number in the history of the WSE and a record on European scale;

- very high value of public offers on the Main Market (over PLN 5.7 billion), ranking the WSE #2 in Europe in Q3.

The trading revenues amounted to PLN 53.5 million, an increase of 31.5% year on year driven by:

- trading in shares, which reached PLN 71.5 billion on the Main Market, an increase of 37% year on year, ranking the WSE #1 in Europe and #4 globally by the year-on-year growth rate in Q1-3 2011;

- the volume of trading in futures contracts and options, which was record-high in the 14 years of trading in these instruments on the WSE;

- dynamic growth of the bond market Catalyst, which already lists 39% of all non-Treasury bond issues in Poland, and on Treasury BondSpot Poland, where wholesale trading in fixed-income Treasuries grew to a record-high PLN 80 billion of cash transactions in Q3 2011.

The revenues from information services grew by 19.8% to PLN 9.5 million thanks to an increase of the number of subscribers of real-time quotations from 267 thousand at the end of Q3 2010 to 332 thousand.

The developments of the last few quarters confirm the rationale of the growth strategy adopted by the WSE Group. In its implementation, 7 new investment firms were admitted to operation on the WSE markets in Q3 2011, including 6 foreign companies. As a result, the number of foreign brokers and investment banks active on the WSE grew to 31 and exceeded the number of local investment firms (29) for the first time in history, making the WSE much more accessible to international investors.

As a capital market institution, we are strengthening the position of a regional financial hub responsible for 50% of trading in shares in Central and Eastern Europe; as a public company which pays a high dividend, we give reasons for satisfaction to our shareholders, whose structure has not changed materially since the IPO and continues to include a large group of individual investors,” summarised Ludwik Sobolewski.

For detailed data see the financial statements available at: http://www.gpw.pl/raporty_okresowe