The Bucharest Stock Exchange published its FY 2021 results on Friday, showing a 9% increase in revenue, a 29% decrease in EBITDA, and a 19.8% decrease in net profit.
The Bucharest Stock Exchange published its preliminary FY 2021 results on Friday, showing an increase of 9% (or RON 3.87m) in sales revenue. When breaking the revenue down by segments, revenue from the trading services increased by 2.76% YoY (or RON 700.3k), due to fixed taxes revenue increase. At the same time, revenues related to the post-trading services (DC) increased by 21% YoY (or RON 2.27m), due to an increase in revenues from admission and maintenance participants, as well as an increase in commission for maintaining the participant quality, and an increased of the value of portfolio managed by the custodians. Meanwhile, the CCP.RO segment did not record any sales revenue, whilst having operating expenses of RON 7.3m.
EBITDA decreased by 29.1% (or RON 3m), on the back of the high operating expenses driven by higher salary costs, which were again driven by rising labor costs in the market, as well as the other operating expenses growth, which increased by 20.7% (or RON 2.29m). At the same time, net financial revenues recorded an increase of 97% YoY (increasing from RON 1.89m to RON 3.72m), because of a gain from unrealized exchange rate differences from the revaluation of financial instruments in foreign currency.
The Group’s net profit decreased by 19.8% YoY in 2021, dropping from RON 6.26m to RON 5.02m, due to the decrease in the operating result (which was partially offset by the positive evolution of the financial result).
When looking at the stock exchange’s KPIs (Key Operating Indicators), as of the end of 2021, the total market capitalization of all the listed companies (Regulated and AeRO markets combined) amounted to RON 160bn, an equivalent of EUR 32.35bn. The total traded value exceeded RON 20bn (EUR 4bn) for the 1st time in BVB’s history. This would also amount to a daily turnover of RON 79.4m (EUR 16.1m), while the main indices BET and BET-TR increased by 33% and 40% in 2021, respectively.
