August, 30 th 2013 Presentation HELEX Investor Relations Strategic Planning, Communication & I.R. Division.

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Presentation transcript:

August, 30 th 2013 Presentation HELEX Investor Relations Strategic Planning, Communication & I.R. Division

Synopsis – Group Structure  Operator of the Greek Cash, Derivatives & Bonds Markets  Vertical Integration: Trading, Clearing, Settlement and Registry systems  HELEX listed on Athens Exchange (Aug. 2000) Market Cap. approx. €365m  Fully privatized group (2003)  Net Earnings FY 2011: €21.5m FY 2012: €11.8m H1 2013: €35.8m Page % Provision of Exchange Trading & Software Services 100% Corporate Functions Cash & Derivatives Markets Settlement & Registration Corporate Functions Cash & Derivatives Markets Settlement & Registration Cash & Derivatives Markets Trading Cash & Derivatives Markets Clearing Cash & Derivatives Markets Clearing 90% 10%

Shareholder Structure Page 3 By Investor Type By Country of Origin Source : HELEX, September 1 st 2013

Athens Exchange Market Size Page 4 Source : ATHEX, August 30 th 2013

Athens Exchange Market Structure Page 5 Source : HELEX (AxiaNumbers publication), August 30 th 2013

Athens Exchange Market Structure Page 6 Source : HELEX (AxiaNumbers publication), August 30 th 2013

Athens Exchange Trading Activity Page 7 Source : HELEX (AxiaNumbers publication), August 30 th 2013

Group Pricing Policy Main Fees Shown Only Page 8

Turnover Drivers Page 9 Source : HELEX, H1 2013

Athens Exchange Cash Market Trading Activity Page 10 Source : ATHEX, August 30 th 2013

Athens Exchange Cash Market Trading Activity Page 11 Source : ATHEX, August 30 th 2013

Market Data Derivatives Market Volume Traded Page 12 Source : ATHEX, August 30 th 2013

Market Data Stock Futures Break Down Page 13 Industrial Sector Banking Sector Source : ATHEX, August 30 th 2013

Revenues – Expenses - Profitability  (*) does not include extraordinary tax of €12.1m.  (**) does not include extraordinary tax €7.9m.  (***) The result includes non-recurring financial expenses of €2m due to the loss in the bond portfolio of the Group from the exchange of the NBG bond for cash Page 14

Key Financials Revenue & Expenses Analysis Page 15 Source : HELEX, H (*) Non – Recurring items excluded: 2008: €7.0m - Profit from building sale - €3.2m; Reversal of provision - €3.3m et al 2009: €1.8m - Claim on tax paid on the Capital Market Commission fee in FY : €0.5m : €5.1m - Claim on tax paid on the Capital Market Commission fee (€2.4m) et al. (€2.7m) 2012: €0.5m - Claim on tax paid on the Capital Market Commission fee in FY 2002

Cost Drivers Page 16 Source : HELEX, H1 2013

Impressive Cost Reduction Page 17 Source : HELEX, H (*) 2007 figure does not include extraordinary costs of €5.7m (**) 2009 figure does not include extraordinary costs of €0.5m

HELEX Group Personnel Page 18 Source : HELEX, H Personnel Costs accounted for 62% of operating expenses in 2012 Reduction of ~45% in 2004 – 2012 Voluntary Retirement Scheme (VRS) implemented in 2012

Key Financials Page 19 Source : HELEX, H Operating Result (EBITDA) Earnings before Interest & Taxes (EBIT)

Profitability Page 20 ( * ) after € 7.9m extraordinary tax in 2010 Source : HELEX, H Net Profit after Tax Earnings per Share

Profit Margins Page 21 Source : HELEX, H EBITDA Margin EBIT Margin

Group Cash Position Page 22 Source : HELEX, H1 2013, HELEX Market Capitalization on Dec 31 st unless otherwise indicated, 2013 HELEX Market Capitalization June 28 th 2013

Dividends Year Paid Page 23 Source : HELEX

Group Valuation Page 24 Source : HELEX, H1 2013, HELEX Market Capitalization on Dec 31 st unless otherwise indicated, 2013 HELEX Market Capitalization June 28 th 2013

Page 25 Appendix

Cash Market Capital Flows Page 26 Source : HELEX (AxiaNumbers publication), August 30 th 2013

Market Data Cash Market Activity Page 27 Source : ATHEX, August 30 th 2013

Market Data Derivatives Market Activity Page 28 Source : ATHEX, August 30 th 2013

European Peers Index Volatility Page 29 Source : ATHEX, REUTERS, August 30 th 2013

European Peers Comparison Page 30 Market Cap / GDP Turnover Velocity Source : ATHEX, FESE, Eurostat, June 28 th 2013

European Peers Comparison Page 31 Source : ATHEX, FESE, Eurostat, June 28 th 2013

European Peers Comparison Page 32 Source : ATHEX, FESE, Eurostat, June 28 th 2013

HELEX Share Facts Page 33 Source : ATHEX, August 28 th 2013, Turnover Velocity and Liquidity Annualized for 2013  Share Price:  Outstanding Shares:  Market Capitalization:  Free Float:  FTSE/ATHEX Large Cap Index  MSCI Greece Index € ,368,563 €365m 100% since since : 111% 2008: 141% 2009: 112% 2010: 82% 2011: 76% 2012: 109% 2013: 110% 2007: 108% 2008: 130% 2009: 117% 2010: 81% 2011: 72% 2012: 109% 2013: 111%  Liquidity (Shares Traded ÷ Shares Outstanding)  Turnover Velocity (Value Traded ÷ Market Capitalization)

Revenues & Expenses per Employee Page 34 Source : HELEX, FY 2012 Data are under IFRS for 2004 – 2012 Average Number of employees per year

Turnover Drivers H Page 35 Source : HELEX, H1 2012

Cost Drivers H Page 36 Source : HELEX, FY 2012

Taxation Main Taxes / Fees Shown Page 37

ATHEX Market Profile A 2 page summary description of our market. HELEX Highlights A 2 page summary description of our Group. ew&id=1828&Itemid=10527&lang=en ATHEX Fees (Cash & Derivative market): Resolution No 24: A summary version of the pricing policy can be found here: HELEX / ATHEXClear Fees (Post-trading): ew&id=682&Itemid=10249&lang=en AξΙΑnumbers ATHEX publication showing investor activity in the cash market. ection&id=29&Itemid=10375&lang=en ADEX Monthly Trading activity statistics of the Athens Exchange derivatives market et al. ection&id=36&Itemid=10376&lang=en Useful Links ATHEX & HELEX Page 38

Χ-ΝΕΤ The ΧΝΕΤ site, the new service of Athens Exchange providing cross border transactions Link Up Marketswww.linkupmarkets.com Link Up Markets is a joint venture by ten leading CSDs, incl. HELEX Federation of European Securities Exchanges The site contains useful statistics on most major European Exchanges, updated monthly. World Federation of Exchangeswww.world-exchanges.org The site contains useful statistics, updated monthly. Hellenic Capital Market Commission The site of the regulator. Useful Links Other Page 39

Financial Calendar - Contact Info Hellenic Exchanges S.A. 110 Athinon Ave., Athens, Greece Tel: Fax: ISIN:GRS OASIS:EXAE Bloomberg:EXAE GA Reuters:EXCr.AT Disclaimer This presentation was prepared by Hellenic Exchanges S.A. Information contained herein has been obtained from company and external sources believed to be reliable, but not guaranteed as to its accuracy or completeness. Past performance is no guarantee of future results. This presentation is for informational purposes and is not to be construed as an offer to sell or a solicitation to buy shares of HELEX. Georgia Mourla, Director of Strategic Planning, Communications & IR Stelios Constantinou, Head of Investor Relations & Strategic Planning Financial Calendar FY2012 Results Monday March 11 th 2013 Q Results Monday May 27 th 2013 Annual General Meeting Wednesday May 29 th 2013 Dividend Record date: Wednesday June 5 th Ex date: Monday June 3 rd Dividend payment Tuesday June 11 th 2013 H Results Monday July 29th 2013 Special Dividend Record date: Friday September 27 th Ex date: Wednesday September 25 th Payment: Thursday October 3 rd 9M 2013 Results Monday November 25 th 2013 Page 40