Zagreb Stock Exchange Recorded a Loss of 1.36 Million Kuna in the First Nine Months, 1.5 Million Kuna Less Than Last Year

In the first nine months of this year, the Zagreb Stock Exchange operated with a loss of 1.36 million kuna, which is a 1.5 million kuna smaller loss compared to the same period last year, according to the financial report of the Exchange published on Thursday.

Total revenues of the Group in the mentioned period amounted to 19.19 million kuna, which is an increase of 10.33 percent compared to the same period last year.

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Commission revenues increased by 22.9 percent, and growth was also recorded in revenues from the issuance of LEI codes (76.5 percent), revenues from fees for publishing data on OTC transactions (20.8 percent), revenues from information sales (2.6 percent), revenues from maintaining listings (2.9 percent), revenues from fees for listings (1.7 percent), and other business revenues (33.2 percent).

The largest decline in revenues was recorded in API membership revenues, down 33.9 percent, revenues from equipment rentals, down 33.6 percent, and membership revenues, down 14.1 percent, according to the report.

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In the first nine months of this year, total expenses of the Group amounted to 20.56 million kuna, an increase of 1.4 percent compared to the same period last year. Meanwhile, software costs decreased by 1.1 percent, business space rental costs by 7.5 percent, and depreciation costs by 13.4 percent. Personnel costs, on the other hand, increased by 5.5 percent, and other operating costs by 1.7 percent.

Financial revenues of the Group in the nine months of this year increased by 45.7 percent, while financial expenses decreased by 32 percent.

– An event that had a relatively unfavorable impact on the operations of the Zagreb Stock Exchange in terms of its effect on total trading volume, and consequently on reduced commission income, was the suspension of trading in shares from the Agrokor Group (Ledo, Belje, Jamnica, Vupik, Zvijezda, Tisak, PIK Vinkovci, and Žitnjak) since May 2 of this year, the report emphasizes.

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In April of this year, trading in those shares amounted to 180.8 million kuna, accounting for 41 percent of total trading volume. Comparing the trading volume from April with that in May and June, a visible decline in regular trading of 64.9 and 57.7 percent is evident.

The report also states that despite the fact that the Agrokor Group members listed on the Exchange published their annual reports for 2016, they are required to publish reports for the first quarter of this year. According to notifications from these companies, results for the first quarter are expected to be published by October 31.