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Oslo Børs Holding ASA recorded post-tax profit of NOK 65.5 (50.1) million for the first quarter of 2007. Revenues totalled NOK 147.2 (117.2) million in the first quarter. As in previous quarters, the last quarter was characterised by high activity in all areas at Oslo Børs.
The value of shares and primary capital certificates traded in the first quarter was NOK 852 billion (642), an increase of 33%. This represents an increase of 25% from the fourth quarter of 2006. The number of transactions in the equity market in the first quarter totalled 2,946,000 (2,122,000), an increase of 39%. This represents an increase of 33% from the fourth quarter of 2006. The value of new share issues reached NOK 19.3 (23.8) billion in the first quarter, a decrease from first quarter last year but a significant increase from the fourth quarter of 2006.
In total, 24 more fixed-income issues are now listed on Oslo Børs and on the ABM (Alternative Bond Market) than at the same time in 2006. The number of issues listed increased by 14 in total over the course of the first quarter. At the end of the first quarter, 710 (853) bond loans and other interest bearing securities were listed on the stock exchange. In addition, 230 (63) loans were listed on the ABM.
The overall level of activity in the derivatives market in the first quarter was higher than in the same quarter of 2006. Turnover in options and forwards was lower, but turnover in index futures was significantly higher. The first quarter generally sees a higher level of activity than the fourth quarter of last year.
The number of end-users with access to market data from Oslo Børs was around 4% higher at the end of the first quarter than at the end of the previous quarter, and around 20% higher than at the same time in 2006. The strongest growth was seen in the number of private individual users without access to order depth information, with the slowest growth being in professional end-users.
First quarter operating costs amounted to NOK 59.0 (48.9) million, an increase of NOK 10 million or 20%.
Salary and staff costs totalled NOK 30.0 (25.9) million in the first quarter, an increase of NOK 4 million or 16%. This reflects an increase in the number of employees, the annual salary increase on 1 January and higher pension costs following changes made at the end of 2006 to the assumptions used to calculate pension liabilities. In addition, contributions to costs from other exchanges were lower as a result of the termination of collaboration in the IT area.
Oslo Børs expects that its total operating costs for 2007 will approach NOK 240 million.
