Bucharest Stock Exchange BVB ends 2011 with a turnover of RON 21.73 million, with a growth of 66.4%

Monday, 13 February 2012

  • Bucharest Stock Exchange (BVB) ends 2011 with a turnover of RON 21.73 million, with a growth of 66.4%
  • The net profit of BVB for 2011 increased compared to 2010 by 197% up to RON 16.96 million1
  • The operating result was 21 times higher than the one obtained in 2010

Preliminary financial figures of the Bucharest Stock Exchange (BVB) are showing compared to 2010 a significant increase in the sales revenues, operating results and financial results. The growing trading activity in almost all segments managed by BVB had  the greatest influence on the 2011 operating result. Dividends for the years 2007 and 2010 from the Central Depository had an important impact on the financial result.

The sales revenues in 2011 increased by 66.4% up to RON 21.73 million (2010: RON 13.06 million), increase achieved due to higher revenues from the trading activity, the registration of new participants, admission and maintenance to trading fees of the issuers and data vending.

The operating expenses of RON 15.35 million (2010: RON 12.90 million)  registered a smaller increase compared to the growth rate  of the operating income. Decreases were obtained in functioning and base personnel costs and increases were recorded in marketingactivities costs, costs from other taxes and third party services. Other elements which influenced the increase of operating expenses were the year end provisions for the restructuring of the Board of Governors (BoG) and the costs generated by the restructuring of the General Manger – non-recurring expenses.

The operating result was 21 times higher than the one obtained in 2010, up to RON 6.39 million (2010: RON 0.3 million). In Q4.2011 the operating activities generated a loss of RON 0.39 million, compared to an operating loss of RON 1.8 million for the same period in 2010.

Based on higher operating and financial profit, the 2011 net result increased compared to 2010 by 197% up to RON 16.96 million (2010: RON 5.71 million).

The 2011 operating margin increased to 29.4%, while ROE (return on equity) was 16.6%.

For more information, please access the 2011 Preliminary Financial Report, available here.

1 The financial data have not been audited and represent the individual results of Bucharest Stock Exchange, drawn up according to the Romanian Accounting Standards (RAS); the financial indicators are expressed in million RON and they are rounded off to the nearest integer, resulting in small reconciliation differences.