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Hellenic Exchanges Athens Stock Exchange SA
XMUN:HEE

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Hellenic Exchanges Athens Stock Exchange SA
XMUN:HEE
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Price: 7.9 EUR -0.5% Market Closed
Market Cap: €457m

Hellenic Exchanges Athens Stock Exchange SA
Investor Relations

Hellenic Exchanges Athens Stock Exchange SA runs Greece’s main market infrastructure for listed securities. It matches buyers and sellers of stocks and other exchange-traded instruments, and it also runs the systems that support trading, clearing, settlement, and custody. In simple terms, it is the company behind the Athens stock market’s core plumbing. Its customers are banks, brokers, asset managers, listed companies, and other financial institutions that need access to the Greek capital markets. The company makes money mainly from trading fees, listing fees, clearing and settlement services, and charges tied to data and market access. It sits in the middle of every trade, so its business depends less on selling products and more on charging for the use of its marketplace and infrastructure. What makes the business model different is that it is a regulated exchange operator rather than a typical financial firm. It does not take market risk in the way a bank or broker does; instead, it earns fees by maintaining the rules, systems, and records that allow the market to function. That makes it a key utility-like part of Greece’s financial system.

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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
May 27, 2025
AI Summary
Q1 2025

Trading Activity: Q1 2025 saw a 28% jump in average daily traded value to nearly EUR 190 million, the highest since 2009.

Revenue Growth: Consolidated turnover rose 17% to EUR 15.8 million, with transactional revenues making up 68% of total revenue.

Margins: EBITDA margin expanded nearly 5 percentage points to 54%; net profit margin reached 37.8%.

Profitability: Net after-tax earnings grew 31.5% to EUR 5.7 million; EBIT rose 32% to EUR 7.1 million.

Operating Expenses: Operating expenses increased 6%, mainly due to an 8% rise in personnel costs tied to variable compensation.

Guidance: Management expects operating expense growth to remain in the mid- to high-single digits for the year, not reaching double digits.

Dividends: Proposed 2024 dividend of EUR 0.29, up 21% from last year, representing a 101% payout ratio.

Key Financials
Average Daily Traded Value
EUR 190 million
Consolidated Turnover
EUR 15.8 million
Trading Revenue
EUR 3 million
Post-Trading Revenue
EUR 7.7 million
Revenue from Derivatives
EUR 614,000
Revenue from IT and Digital Services
EUR 2 million
Ancillary Services Revenue
EUR 400,000
Operating Expenses
EUR 7 million
Personnel Costs
EUR 4.3 million
EBIT
EUR 7.1 million
Net After-Tax Earnings
EUR 5.7 million
EBITDA Margin
54%
Net Profit Margin
37.8%
Cash and Cash Equivalents
EUR 77.4 million
Proposed Dividend
EUR 0.29
Other Earnings Calls

Management

Dr. Yianos Kontopoulos Ph.D.
CEO & Executive Director
No Bio Available
Mr. Nikolaos Koskoletos C.F.A.
Chief Financial Officer
No Bio Available
Mr. Nikolaos Evangellos Porfyris
Chief Operating Officer
No Bio Available
Mr. Stelios Konstantinou
Head of Investor Relations
No Bio Available
Mr. Andreas Stylianos Daskalakis
Director of New Markets Development & International Markets
No Bio Available
Ms. Georgia Mourla
Chief Internal Audit Officer
No Bio Available
Panagiotis Drakos
President of the Union of Listed Companies
No Bio Available
Mr. Anastasios Zafeiropoulos
Head of the Risk Management Unit
No Bio Available
Ms. Vaitsa Koudona
Head of the Clearing Unit
No Bio Available
Mr. Konstantinos Karanasios
Deputy Chief Executive Officer of Post-Trading Services
No Bio Available

Contacts

Address
ATTIKI
ATHINA
110 Athinon Ave.
Contacts
+302103366800.0
www.athexgroup.gr
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