WSE with PLN 156 mln net profit in 2017

Warsaw Stock Exchange had a PLN 156.01 million net profit in 2017 compared with PLN 131.09 million the year before. The revenues stood at PLN 351.96 million, up from PLN 310.86 million in 2016, while the operating profit grew to PLN 183.9 million. “In unitary terms, net profit in 2017 amounted to PLN 69.03 million compared to PLN 116.09 million in profit a year earlier. The lower level of net profit in 2017 as compared to the previous year was influenced by lower balance on revenues and financial costs. In 2016, the WSE received dividends from subsidiaries and associates in the amount of PLN 61.6 million, including the dividend from the subsidiary TGE on the level of PLN 59.5 million. In 2017, the TGE did not pay a dividend due to the repayment of a bank loan contracted to pay back VAT arrears due to a change in the taxation of certain services provided by the company and the need to adjust VAT for the years 2011-2016,” the filing said.