The Bucharest Stock Exchange (BVB) made a net profit of EUR 1.08 million in the first nine months of 2015, almost 50% lower compared to the similar period of last year.

The operational revenues went down by more than a third in the same period, to EUR 2.86 million, as the value of share trades on BVB’s main market segment declined significantly.

“The main cause was the decline in trading revenues, which have been affected by the weaker trading activity, the lack of significant deals on the public offers market, except for Bucharest’s bond issue, and the lowering of the trading fees starting the last quarter of 2014,” according to a BVB release.

The average daily value of share trading on the main market segment went down by 21% compared to the first nine months of 2014, to EUR 7.3 million. Including the public offers, the decline in share trading was 39%, as there have been no such offers in the first nine months. BVB partially compensated that by making 30% higher revenues from processing, admission and maintenance fees charged to issuers, as many companies transferred from the former RASDAQ market to BVB’s main market or to the AeRO alternative trading system.

The company’s operational expenses went up by 2.6%, due to higher personnel costs. Thus, the operational profit went down by almost 80%, which was partly compensated by a higher financial result.

editor@romania-insider.com