Sofia-based exchange operator BSE swings to a non-negative net loss for the first half as earnings fall

SOFIA (Bulgaria), August 10 (SeeNews) – The Bulgarian Stock Exchange [BUL:BSE] The operator said it swung from an unconsolidated net profit of 4.9 million levs in the same period of 2021 to a standalone net loss of 325,000 levs ($169,740) in the first half of 2022.

BSE’s total revenues plummeted to 1.7 million leva in the first six months of this year from 6.5 million leva last year, mainly due to the cut in revenue from financial instruments and the absence of a one-time dividend paid by a subsidiary last year, it said the BSE in a current interim report.

However, revenue from services increased to 1.68 million leva in the reporting period from 1.28 million leva in H1 2021, driven by a 29% increase in revenue from customer contracts.

Market turnover in the first half of 2022 was 514.4 million leva, or more than double the first half of last year, as the number of trades grew by 60% annually to 58,275.

The stock exchange segment Bulgarian Enterprise Accelerator Market (BEAM) recorded a 337% increase in turnover to 15.8 million leva. Last month, Bulgarian cloud-based technology developer Bee developed Smart Technologies for monitoring beehives [BUL:BEE] became the youngest start-up to be listed in the BEAM segment.

BSE’s total assets, including minority interests, fell 1.34% year-on-year to about 17.7 million levs, the dataset showed.

The exchange operator’s expenses increased to around 2 million leva in the January-June period from 1.64 million leva in the same period of 2021, due to a slight increase in expenses for hired services and staff.

In June, the Sofia Stock Exchange operator’s shareholders approved an additional dividend of 0.4826 levs per share for 2021, bringing the total distribution for 2021 to around 6.8 million levs.

(1 euro = 1.95583 levs)

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