GPW - Giełda Papierów Wartościowych w Warszawie S.A.

Earnings Release • Feb 28, 2019

SELECTED CONSOLIDATED FINANCIAL DATA OF THE GIEŁDA PAPIERÓW WARTOŚCIOWYCH W WARSZAWIE S.A. GROUP

12-month period ended 31 December 2018 2017 2018 2017 Sales revenue 346 781 351 956 81 360 82 665 Financial market 191 852 208 849 45 011 49 053 Trading 124 280 141 336 29 158 33 196 Listing 22 805 24 968 5 350 5 864 Information services and revenue from calculation of reference rates 44 767 42 545 10 503 9 993 Commodity market 153 555 142 088 36 026 33 373 Trading 78 547 70 092 18 428 16 463 Register of certificates of origin 28 696 30 628 6 733 7 194 Clearing 45 862 41 019 10 760 9 634 Information services 450 349 106 82 Other revenue 1 374 1 019 322 239 Operating expenses 173 812 165 763 40 779 38 933 Other income 2 703 3 859 634 906 Impairment losses 3 153 607 740 143 Other expenses 2 314 2 896 543 680 Operating profit 170 205 186 549 39 933 43 816 Financial income 54 439 5 550 12 772 1 303 Financial expenses 9 162 11 147 2 150 2 618 Share of profit of associates 10 553 10 059 2 476 2 363 Profit before income tax 226 035 191 011 53 031 44 864 Income tax expense 42 334 32 274 9 932 7 580 Profit for the period 183 701 158 737 43 099 37 283 Basic / Diluted earnings per share[2] (PLN, EUR) 4,38 3,78 1,03 0,89 EBITDA[3] 201 977 214 874 47 387 50 468 PLN'000 EUR'000 [1]

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

[1] Based on the 12M average EUR/PLN exchange rate published by the National Bank of Poland (1 EUR = 4.2623 PLN in 12M 2018 and 1 EUR = 4.2576 PLN in 12M 2017)

[2] Based on total net profit

[3] EBITDA = operating profit + depreciation and amortisation

Selected data in the statement of financial position, consolidated, under IFRS, audited

	As at 31 December
	2018	2017	2018	2017
	PLN'000		EUR'000 [1]
Non-current assets	580 375	596 354	134 971	142 980
Property, plant and equipment	108 158	110 784	25 153	26 561
Intangible assets	254 564	263 769	59 201	63 240
Investment in entities measured by equity method	207 267	207 389	48 202	49 723
Deferred tax assets	540	3 803	126	912
Available-for-sale financial assets	-	271	-	65
Financial assets measured at fair value through other comprehensive income	101	-	23	-
Prepayments	5 523	6 116	1 284	1 466
Other non-current assets	4 222	4 222	982	1 012
Current assets	636 942	550 699	148 126	132 034
Inventories	64	56	15	13
Receivables in respect of corporate income tax	-	71	-	17
Trade and other receivables	69 437	64 096	16 148	15 367
Contract assets	1 215	-	283	-
Financial assets measured at amortised cost	377 502	-	87 791	-
Other financial assets	-	250 590	-	60 081
Cash and cash equivalents	188 724	235 886	43 889	56 555
TOTAL ASSETS	1 217 317	1 147 053	283 097	275 013
Equity of the shareholders of the parent entity	889 948	798 894	206 965	191 540
Non-controlling interests	590	573	137	137
Non-current liabilities	269 333	270 781	62 636	64 921
Current liabilities	57 446	76 805	13 360	18 415
TOTAL EQUITY AND LIABILITIES	1 217 317	1 147 053	283 097	275 013

[1] Based on the average EUR/PLN exchange rate of the National Bank of Poland as at 31.12.2018 (1 EUR = 4.3000 PLN) and 31.12.2017 (1 EUR = 4.1709 PLN).

Selected financial ratios of the Group

	Year ended / As at 31 December
	2018	2017
EBITDA margin (EBITDA/Sales revenue)	58,2%	61,1%
Operating profit margin (Operating profit/Sales revenue)	49,1%	53,0%
Return on quity (ROE) (Net profit for the last 12 months / Average equity at the beginning and at the end of the last 12 month period	21,7%	20,7%
Debt to equity (Interest-bearing liabilities [1] /Equity)	27,6%	30,7%
[1] interest and principal payable