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The consolidated net after tax profits of the Athens Exchange Group amounted to EUR5.4m vs. EUR13.4m in the first half (H1) of 2014, reduced by 60%. The net after tax profits per share in H1 2015 amounted to EUR0.07 vs. EUR0.22 in H1 2014.
The turnover of the Group amounted to EUR18.5m in Η1 2015 vs. EUR26.8m over the corresponding period in 2014, while after subtracting the Hellenic Capital Market Commission fee, total consolidated revenue amounted to EUR17.6mvs. EUR25.6m.
Total consolidated revenue is reduced mainly due to the reduction in trading activity and the capitalization of the Cash Market, as well due to the reduced number of corporate actions by listed companies (share capital increases, new listings etc.).
In particular, in Η1 2015 the average daily traded value was EUR101.8m, compared to EUR150m, a 32% reduction, while the average capitalization of the Greek capital market dropped by 35% compared to H1 2014 (EUR47.7bn vs. EUR73.2bn). Market liquidity, as measured by turnover velocity, dropped from 59.4% in H1 2014 to 53% in H1 2015, while the average daily volume increased to 189m shares compared to 100m shares in the corresponding period last year.
In the derivatives market, the average daily number of contracts increased by 105% (95 thousand vs. 46.5 thousand), while the corresponding trading and clearing revenue posted a lower, 3.7% increase, due to the drop in the prices of the underlying securities and the change of the product mix in the market.
The operating expenses of the Group amounted to EUR8m vs. EUR7.5m in H1 2014, while total operating expenses including new activities amounted to EUR9.6m in H1 2015 vs. EUR8.6m in H1 2014, increased by 12%. Expenses in the first half of 2015 include capital concentration tax (EUR438 thousand) as well as increased provisions (EUR650 thousand vs. EUR200 thousand), unlike the corresponding period last year. In calculating profits per share, the bond valuation loss of the single bond that the Company possesses is included, valued at EUR2.3m on 30.6.2015 vs. EUR3.4m on 31.12.2014.
Lastly, the consolidated Earnings Before Tax (EBT) in H1 2015 amounted to EUR8.1m vs. EUR18.2m over the corresponding period last year.
The financial statements of the Group and the Company are posted on the Company's website (www.athexgroup.gr), and include only two (2) days from the bank holiday, during which no trading on the Athens Exchange took place.
