Gielda Papierow Wartosciowych w Warszawie SA
WSE:GPW
Gielda Papierow Wartosciowych w Warszawie SA
Gielda Papierow Wartosciowych w Warszawie SA engages in organising exchange trading in financial instruments and activities. The company is headquartered in Warsaw, Woj. Mazowieckie and currently employs 466 full-time employees. The company went IPO on 2010-11-09. The company is a parent entity of WSE Group that offers products and services within its trading markets of equity, derivate, fixed income and structured products. The company also distributes market data. The firm has two business lines: Financial market, which includes trading in equities, derivatives, fixed-income and other instruments, listing, and information services; and Commodity market, which includes trading in electricity and property rights in certificates of origin, operation of a register of certificates of origin, clearing, trade and technical trade operator services. As of December 31, 2011, it operates two wholly owned subsidiaries, WSEInfoEngine SA, providing data transmission and information services; and Instytut Rynku Kapitalowego WSE Research SA, engaged in publishing; as well as 92.47%-owned BondSpot SA.
Gielda Papierow Wartosciowych w Warszawie SA engages in organising exchange trading in financial instruments and activities. The company is headquartered in Warsaw, Woj. Mazowieckie and currently employs 466 full-time employees. The company went IPO on 2010-11-09. The company is a parent entity of WSE Group that offers products and services within its trading markets of equity, derivate, fixed income and structured products. The company also distributes market data. The firm has two business lines: Financial market, which includes trading in equities, derivatives, fixed-income and other instruments, listing, and information services; and Commodity market, which includes trading in electricity and property rights in certificates of origin, operation of a register of certificates of origin, clearing, trade and technical trade operator services. As of December 31, 2011, it operates two wholly owned subsidiaries, WSEInfoEngine SA, providing data transmission and information services; and Instytut Rynku Kapitalowego WSE Research SA, engaged in publishing; as well as 92.47%-owned BondSpot SA.
Record Results: Warsaw Stock Exchange posted record Q2 revenue of PLN 144.1 million, up 19% year-on-year, driven by strong equity and commodity market performance.
Equity Turnover: Equity turnover surged almost 50% year-on-year to PLN 131 billion, marking one of the best performances among European exchanges.
Profitability: Adjusted EBITDA and net profit both grew by around 42–43% year-on-year; EBITDA margin topped 43%, the highest in three years.
Operating Costs: Operating costs rose 8% year-on-year, mainly due to increased staff costs, but the cost-income ratio improved by more than 6 percentage points to below 63%.
Dividend: The company paid a dividend of PLN 3.15 per share, up 5% year-on-year, representing almost 90% of consolidated net profit.
Outlook: Management expects continued strong trading in the financial market, robust growth in commodity market gas turnover, and slightly higher operating expenses in the second half of the year.
