Warsaw Stock Exchange benefited from high volatility caused by the pandemic. However, there is still a question about the future and the attitude of investors to risk, which will depend on the pace at which economies return to the path of development.
"The WSE is doing very well, we had a record first quarter in its history. The stock exchange is also a trading organizer, and we have a very good turnover due to the fact that at the beginning of the pandemic there was panic, then quite strong rebound and now the indices of small companies are more or less 10 percent above those of the beginning of the year. However, larger companies are still below 2020 opening," Dr. Marek Dietl, president of the Warsaw Stock Exchange, said.
"After a few months of very intense trade, where the turnover exceeded PLN 900 million per day, we have calming down at the level of about PLN 800 million," Dietl added.
It was thanks to this market volatility that the WSE achieved PLN 97 million in consolidated sales revenues in the first quarter of the year (increase by 15.3 percent compared to the first three months of 2019 and by 20.9 percent compared to the fourth quarter of 2019). EBITDA in this period was PLN 50 million, while net profit was PLN 29.3 million. This is an increase of almost one fifth y/y. Also in the whole half-year turnover increased by 34.8 percent y/y up to PLN 134.3 billion (up to several hundred percent on NewConnect).
However, the index of the largest companies, burdened with the presence of banks, has depreciated around 17 percent since the beginning of the year, and the broad WIG market index dropped by 12 percent. On the other hand, the smallest entities associated in sWIG80 increased capitalization by 17 percent.