GPW - Giełda Papierów Wartościowych w Warszawie S.A. — Earnings Release 2018

Feb 28, 2019

SELECTED SEPARATE FINANCIAL DATA OF GIEŁDA PAPIERÓW WARTOŚCIOWYCH W WARSZAWIE S.A.

2018 2017 2018 2017 Sales revenue 190 880 203 443 44 783 47 783 Financial market 181 150 196 229 42 501 46 089 Trading 114 277 129 749 26 811 30 475 Listing 22 000 24 027 5 162 5 643 Information services 44 873 42 453 10 528 9 971 Commodity market 423 348 99 82 Information services 423 348 99 82 Other revenue 9 307 6 866 2 184 1 613 Operating expenses 113 007 109 916 26 513 25 816 Other income 1 115 940 262 221 Impairment gains/(losses) on receivables 2 295 497 538 117 Other expenses 1 633 1 686 383 396 Operating profit 75 060 92 284 17 610 21 675 Financial income 107 314 5 042 25 177 1 184 Financial expenses 10 112 8 871 2 372 2 084 Profit before income tax 172 262 88 455 40 415 20 776 Income tax expense 20 333 16 776 4 770 3 940 Profit for the period 151 929 71 679 35 645 16 836 EBITDA[2] 95 317 111 756 22 363 26 249 Year ended 31 December PLN'000 EUR'000 [1]

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

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

[2] EBITDA = operating profit + depreciation and amortisation

elected data in the statement of financial position, separate, under IFRS, audited

	As at 31 December
	2018	2017	2018	2017
	PLN'000		EUR'000 [1]
Non-current assets	426 635	462 760	99 217	110 950
Property, plant and equipment	96 362	96 269	22 410	23 081
Intangible assets	56 439	64 741	13 125	15 522
Investment in associates and subsidiaries	264 710	291 944	61 560	69 995
Available-for-sale financial assets	-	271	-	65
Financial assets measured at fair value through other comprehensive income	101	-	23	-
Prepayments	4 801	5 313	1 117	1 274
Other non-current assets	4 222	4 222	982	1 012
Current assets	358 619	275 535	83 400	66 061
Inventories	64	56	15	13
Trade and other receivables	25 483	26 272	5 926	6 299
Contract assets	1 015	-	236	-
Available-for-sale financial assets	-	-	-	-
Other financial assets measured at amortised cost	310 090	-	72 114	-
Other financial assets	-	196 461	-	47 103
Cash and cash equivalents	21 967	52 746	5 109	12 646
TOTAL ASSETS	785 254	738 295	182 617	177 011
Equity	498 237	438 873	115 869	105 223
Non-current liabilities	263 237	264 574	61 218	63 433
Current liabilities	23 780	34 848	5 530	8 355
TOTAL EQUITY AND LIABILITIES	785 254	738 295	182 617	177 011

[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 GPW

	Year ended / As at 31 December
	2018	2017
EBITDA margin (EBITDA/Sales revenue)	49,9%	54,9%
Operating profit margin (Operating profit/Sales revenue)	39,3%	45,4%
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	32,4%	16,0%
Debt to equity (Interest-bearing liabilities [1] /Equity) [1] interest and principal payable	49,4%	55,9%