Oslo Børs VPS Holding ASA - 1st quarter 2018
26.04.2018 08:19
http://www.osloborsvps.no

Oslo Børs VPS Holding reports a profit of NOK 92 million for the first quarter of 2018 (NOK 87 million).

A more detailed presentation by business areas is provided in the quarterly report (enclosed).

There continued to be high levels of market activity in the first quarter of 2018 in the primary and secondary equity and fixed income markets. Reported revenue for first quarter of 2018 was NOK 264 million, which is NOK 12 million higher than in the first quarter of 2017.

Revenue from Oslo Børs and VPS increased with NOK 10 million and NOK 2 million respectively.
Operating expenses before capitalisation of internal costs, depreciation and amortisation of excess value amounted to NOK 136 million in the first quarter of 2018, an increase of NOK 8 million from the first quarter of 2017. The increase principally relates to restructuring costs and project costs at VPS.

Net financial income for the first quarter of 2018 totalled NOK 2 million, in line with the same period in 2017.

Oslo Børs VPS Holding ASA has mandated Danske Bank and Pareto securities to arrange a series of fixed income investor meetings commencing on Wednesday 2 May 2018. A NOK 450 million 5 year inaugural senior unsecured bond issue may follow, subject to inter alia market conditions. The proceeds from the contemplated bond issue will be used for an extraordinary dividend distribution to shareholders.

Operating expenses for 2018 before capitalisation of internal costs, depreciation and amortisation are expected to be in excess of NOK 500 million. Included in this figure is an increase in costs at Centevo in relation to planned development activities at the company.

The group's operating revenue varies in line with the level of activity in the securities market. Oslo Børs VPS is committed to offering a range of products and a pricing structure that are competitive and that encourage active use of the group's services. Oslo Børs VPS anticipates that its marketplace activities will continue to face intense competition, and it also expects increasing competition for the group's post-trade activities.

For further information, please contact:
CFO Geir Heggem, tel. +47 22 34 17 22 / +47 952 38 811
SVP Corporate Communications Per Eikrem, tel. +47 22 34 17 40 / +47 930 60 000

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Oslo Børs VPS Holding ASA published this content on 26 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2018 07:28:03 UTC