GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Quarterly Report • Nov 9, 2023

SELECTED CONSOLIDATED FINANCIAL DATA

OF THE GIEŁDA PAPIERÓW WARTOŚCIOWYCH W WARSZAWIE S.A. GROUP

Selected data in the statement of comprehensive income, consolidated, under IFRS

Table 1: Consolidated statement of comprehensive income, earnings per share, EBITDA

	Nine months period ended 30 September (unaudited)
	2023	2022	2023	2022
	PLN'000		EUR'000[1]
Sales revenue	329,023	297,757	71,620	63,723
Operating expenses	(235,826)	(190,684)	(51,333)	(40,808)
Gains on reversed impairment of receivables/(Losses) on impairment of receivables	(374)	354	(81)	76
Other revenue	3,776	1,351	822	289
Other expenses	(1,772)	(10,044)	(386)	(2,150)
Operating profit	94,827	98,734	20,641	21,130
Financial income	22,966	17,928	4,999	3,837
Financial expenses	(5,747)	(6,328)	(1,251)	(1,354)
Share of profit/(loss) of entities measured by the equity method	23,770	20,702	5,174	4,430
Profit before tax	135,816	131,036	29,564	28,043
Income tax expense	(23,228)	(23,774)	(5,056)	(5,088)
Net profit for the period	112,588	107,262	24,508	22,955
Basic/Diluted earnings per share[2] (PLN, EUR)	2.65	2.56	0.58	0.55
EBITDA[3]	118,538	126,629	25,803	27,100

[1] At the incremental average exchange rate EUR/PLN for 9 months published by the National Bank of Poland (1 EUR = 4,5940 PLN in 2023 and 1 EUR = 4,6727 PLN in 2022).

[2] Based on net profit.

[3] EBITDA = operating profit + depreciation/amortisation.

Table 2: Consolidated statement of financial position

	As at
	30 September 2023 (unaudited)	31 December 2022	30 September 2023 (unaudited)	31 December 2022
	PLN'000		EUR'000[1]
Non-current assets:	707,107	651,608	152,538	138,939
Property, plant and equipment	105,649	107,605	22,791	22,944
Right-to-use assets	9,349	4,685	2,017	999
Intangible assets	306,509	282,892	66,121	60,319
Investment in entities measured by the equity method	262,125	241,313	56,546	51,454
Other non-current assets	23,475	15,113	5,064	3,222
Current assets:	489,492	530,648	105,594	113,147
Trade receivables and other receivables	70,158	79,348	15,135	16,919
Financial assets measured at amortised cost	252,191	63,964	54,403	13,639
Cash and cash equivalents	151,702	378,641	32,725	80,735
Other current assets	15,441	8,695	3,331	1,854
TOTAL ASSETS	1,196,599	1,182,256	258,132	252,086
Equity	1,006,030	1,000,827	217,023	213,400
Non-current liabilities:	66,907	53,814	14,433	11,474
Lease liabilities	6,781	495	1,463	106
Other liabilities	60,126	53,319	12,970	11,369
Current liabilities:	123,662	127,615	26,677	27,211
Lease liabilities	2,852	4,852	615	1,035
Other liabilities	120,810	122,763	26,061	26,176
TOTAL EQUITY AND LIABILITIES	1,196,599	1,182,256	258,132	252,086

[1] At the average exchange rate EUR/PLN of the National Bank of Poland as at 30.09.2023 r. (1 EUR = 4,6356 PLN) and as at 30.12.2022 (1 EUR = 4,6899 PLN).

Table 3: Selected financial indicators

	As at/Nine months period ended 30 September (unaudited)
	2023	2022
EBITDA margin (EBITDA/Sales revenue)	36.0%	42.5%
Operating profit margin (Operating profit/Sales revenue)	28.8%	33.2%
Return on equity (ROE) (Net profit for last 12 months/Average equity at the beginning and at the end of the 12-month period)	15.3%	15.8%
Debt to equity (Lease liabilities and liabilities under bond issue/Equity)	1.0%	14.3%
Cost / income (GPW Group operating expenses / GPW Group sales revenue (for a 12-month period))	71.7%	64.0%