N🟁N

HELEX Q1 2010 Financial Results

  //stocks-investing.news-articles.net/content/2010/05/18/helex-q1-2010-financial-results.html
  Published in Stocks and Investing on Tuesday, May 18th 2010 at 11:30 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

ATHENS, GREECE--(Marketwire - May 18, 2010) - The consolidated net after tax profits of HELEX (ATHEX: [ EXAE ]) in the first quarter of 2010 amounted to EUR 9.8m compared to EUR 5.8m in the corresponding period last year, increased by 69%.

The results of the first quarter do not include a provision for the additional tax burden due to the "extraordinary social responsibility tax" imposed on businesses with Law 3842/2010. The company estimates that the total burden on the 2010 results will be approximately EUR 8m.

The consolidated turnover of the Group increased by 50%, to EUR 19.2m vs. EUR 12.8m in Q1 2009.

This increase is due to the 74% increase in revenue from clearing in the cash market (EUR 5.8m in Q1 2010 vs. EUR 3.3m in the corresponding period last year) as well as to the increase in revenue from stock trading in the cash market by 68% (EUR 3.7m in Q1 2010 vs. EUR 2.2m in Q1 2009), due to the extremely low volume of transactions in Q1 2009 which in turn was due to the international financial crisis.

The total value of transactions in Q1 2010 amounted to EUR 12.2bn vs. EUR 7bn in Q1 2009m a 75% increase, while the total volume of transactions (number of shares that changed hands) increased by 33% in Q1 2010 compared to Q1 2009 (2.3bn shares vs. 1.7bn shares).

The operating expenses of the Group were significantly reduced in Q1 2010. In particular, operating expenses before depreciation amounted to EUR 5.3m vs. EUR 5.7m in Q1 2009, reduced by 7%.

The Group's EBIT amounted to EUR 12.2m, a 103% increase compared to Q1 2009 (EUR 6m).

The net profits per share in Q1 2010 amounted to EUR 0.15 vs. EUR 0.08 in Q1 2009.

HELEX's financial statements are posted on the Company's website ([ www.helex.gr ]).