The annual net profit of St. Petersburg Exchange according to IFRS decreased by 2.8 times to 0.68 billion rubles

Moscow. 25th of April. INTERFAX.RU – At the end of 2023, St. Petersburg Exchange received a net profit under IFRS of 0.68 billion rubles against 1.926 billion rubles in 2022 (a 2.8-fold decrease), the exchange reported.

Earnings margin for 2023 decreased to 9.37% from 24.90% in 2022.

EBITDA in 2023 decreased by 11.9%, to 2.56 billion rubles from 2.90 billion rubles in 2022. EBITDA margin last year was 35.30% (37.47% a year earlier).

Total income for 2023 decreased by 2.1 times – to 0.91 billion rubles from 1.92 billion rubles a year earlier.

The value volume of transactions in the main trading mode for securities on the St. Petersburg Exchange in 2023 amounted to 2.87 trillion rubles, which is 67.1% lower than a year earlier.

The exchange’s equity capital increased to 20.95 billion rubles from 20.03 billion rubles in 2022 (an increase of 4.6%). Return on equity (ROE) fell to 3.31% from 10.10% at the end of 2022.

The total assets of the trading platform at the end of 2023 amounted to 112.86 billion rubles, of which 53.59 billion rubles are unreceived payments and investor income from international depositories on foreign securities held in non-trading sections of securities sub-accounts, which will be paid upon unblocking assets.

Intangible assets increased over the year by 40.72% – to 1.13 billion rubles, which is associated with investments in the development of the IT platform, including the creation of the digital financial market infrastructure.

Operating income of St. Petersburg Exchange in 2023 decreased by 6.4% – to 7.24 billion rubles from 7.74 billion rubles a year earlier.

Income from services and commissions decreased by 43.6%, to 1.45 billion rubles compared to 2.57 billion rubles a year earlier. Of these, 75.4% came from income from the organization of trading and clearing center services – the main operating activity of the exchange.

Interest income increased by 17.0% to 2.58 billion rubles from 2.20 billion rubles in 2022.

Net trading and investment income increased by 18.7%, to 2.11 billion rubles from 1.78 billion rubles a year earlier.

Gross operating profit in 2023 amounted to 4.74 billion rubles, down 20.6% from 5.97 billion rubles at the end of 2022. Operating margin decreased to 65.51% from 77.14% a year earlier.

The exchange reduced administrative expenses by 9.6% in 2023, to 2.77 billion rubles from 3.07 billion rubles a year earlier.

“SPB Exchange” was a platform for organizing trading in securities of international companies on the Russian financial market until it was included in the US sanctions list in early November 2023, after which trading in foreign securities on it was suspended. Foreign counterparties, including those from friendly jurisdictions, suspended interaction with the trading platform due to the risks of secondary sanctions, the exchange reported.

Trading on a number of Russian securities on the St. Petersburg Exchange continues, but in insignificant volumes. According to information in the report of the Bank of Russia for 2023, the trading volume on the St. Petersburg Exchange in 2023 decreased by 3.1 times compared to 2022 – to 4.5 trillion rubles.

The SPB Exchange group includes subsidiary operating companies NKO-CC SPB Clearing, which provides clearing services, and SPB Bank, which performs the functions of a settlement depository.