OSLO BORS VPS HOLDING ASA Oslo Børs VPS Holding ASA - 1st quarter 2019
Oslo Børs VPS Holding reports a profit of NOK 78 million for the first quarter of 2019 (NOK 92 million).
A more detailed presentation by business areas is provided in the quarterly report (enclosed).
Reported revenue for the first quarter of 2019 was NOK 264 million, in line with the first quarter of 2018. Revenue from VPS increased by approximately NOK 2 million, while revenue from Oslo Børs decreased by approximately the same amount. In the first quarter NOK 5 million of introduction and registration fees were recognised to income which, in accordance with IFRS 15 Revenue from Contracts with Customers, had been recognised on the balance sheet as a liability at 31 December 2018.
Operating expenses amounted to NOK 158 million in the first quarter of 2019, an increase of NOK 16 million from the first quarter of 2018. The increase was principally due to costs incurred in connection with the ongoing offer process and higher project costs. Implementing IFRS 16 Leases led to a reduction of NOK 3 million in other operating costs and an equivalent increase in depreciation.
Net financial income for the first quarter of 2019 was NOK 3 million lower than in the same period in 2018. The change was due to interest expense on the bond loan that the group issued in May 2018 as well as to NOK 0.4 million interest expense on lease liabilities under IFRS 16 Leases.
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 30 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2019 06:17:07 UTC
