GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Earnings Release • Aug 4, 2023

Current Report No. 17/2023Date: 4 August 2023Topic: Deviation ofGPW Group financial results from market consensus in Q2 2023Legalbasis: Article 17(1) MAR - Inside informationContent:TheWarsaw Stock Exchange ("GPW", "Company") announces that after comparingon 4 August 2023 the estimated financial results with marketexpectations presented in analytical reports prepared by brokeragehouses and gathered in the form of consensus, the consolidated financialresults of the GPW Group ("GPW Group") in Q2 2023 will be higher thanthe consensus. The projected consolidated net profit attributable to theowners of the parent entity is estimated to be higher than analysts'expectations.The GPW Group's preliminary consolidated financialestimates for Q2 2023 are as follows:- Sales revenue: PLN 110.7million.- Operating expenses: PLN 75.0 million.- Operatingprofit: PLN 35.6 million.- EBITDA: PLN 44.0 million.- Net profitattributable to the owners of the parent entity: PLN 45.0 million.Accordingto the preliminary financial estimates, the deviation of net profitattributable to the owners of the parent entity from the marketconsensus in Q2 2023 is mainly due to:- Consolidated salesrevenue higher than consensus as a result of, among others, revenue fromtrading in equities and equity-related instruments higher than analysts'expectations;- Net financial income. The significant amount ofcash accumulated by the GPW Group in a high interest rate environmentgenerated high financial income. In addition, the partial reversal of aprovision against VAT in the subsidiary Izba Rozliczeniowa GiełdTowarowych ("IRGiT") in the amount of PLN 2.0 million resulted in apositive value of "financial expenses" in Q2 2023;-Share of profit of entities measured using the equity method. This lineis mainly driven by the financial result of the KDPW Group.Thefinancial statements of the Group are still being reviewed by theauditor, therefore the financial results of the GPW Group are not finaland are subject to change. The GPW Group's Consolidated Interim Reportfor H1 2023 will be published on 10 August 2023.Legal basis:Article 17(1) of Regulation (UE) No. 596/2014 of the European Parliamentand of the Council of 16 April 2014 on market abuse (market abuseregulation) and repealing Directive 2003/6/EC of the European Parliamentand of the Council and Commission Directives 2003/124/EC, 2003/125/ECand 2004/72/EC (Official Journal L 173) ("MAR")