The Tel-Aviv Stock Exchange Ltd Reported Fourth Quarter and Year 2019 Results

TEL AVIV, Israel, March 24, 2020 /PRNewswire/ -- Tel Aviv Stock Exchange Ltd (TASE: TASE) today announced its financial results for the year ended December 31, 2019.^[1]

For the First Time TASE Announces a Dividend Distribution of NIS 8.77 Million (NIS 0.0877 per share) to Its Shareholders.

To view summary of the reports plus presentation, both in English, visit: https://info.tase.co.il/Eng/about_tase/IR/news/2020/Pages/2020.aspx 

Highlights of TASE's Results for 2019 and Fourth Quarter of 2019

2019 Results:

• TASE revenues amounted to NIS 260 million in the year 2019, an increase of 2% compared to last year.
• Adjusted EBITDA increased in 2019 to NIS 62.9 million compared to NIS 61.5 million in last year, an increase of 2%.
• Adjusted net profit amounted to NIS 21.4 million in 2019, compared to NIS 20.9 million adjusted net profit last year, an increase of 3%.
• As of December 31, 2019, TASE Group has cash balances of NIS 104 million and Israeli government bonds of NIS 205 million. The TASE Group surplus liquidity amounts to NIS 132 million over regulatory liquidity requirements.

Fourth Quarter Results

• TASE revenues amounted to NIS 66.4 million in the fourth quarter of 2019, a decrease of 6% compared to the corresponding quarter last year, mainly because of a decrease in the number of trading days between the quarters.
• Adjusted EBITDA decrease in the fourth quarter of 2019 to NIS 15.1 million compared to NIS 18.7 million in the corresponding quarter last year, a decrease of 19%.
• Adjusted net profit amounted to NIS 3.2 million in the fourth quarter of 2019, compared to NIS 7.0 million adjusted net profit in the corresponding quarter last year, a decrease of 54%.

The Company will also host a conference call today at 8:30 PM (Israel time).

To participate, please call one of the following telephone numbers a few minutes before the start of the call (No passcode required):

Conference Call Dial-in Details (No passcode required):
Israel: 03-918-0644
US: 1-888-668-9141 (toll free)
Canada: 1-866-485-2399  (toll free)
UK: 0-800-917-5108  (toll free)
All other Locations: +972-3-918-0644

This announcement is not a substitute for perusing the Company's interim financial statements for the year ended December 31, 2019, in which full and precise information is presented.

ABOUT TASE

The Company, including by means of the companies consolidated in its financial statements (collectively, "the Group"), is engaged in the area of securities trading and securities clearing.

Within this framework, the Group is engaged in setting rules regarding the TASE companies, rules for listing securities on TASE (including the obligations that apply to companies whose securities are listed) and rules regarding trading on TASE. The Group operates trading systems and provides clearing services for both listed and non-listed securities. In addition, the Group operates a derivatives clearing house that writes derivatives that are traded on TASE, clears them and serves as a central counterparty for transactions in them. The Group provides central counterparty (CCP) services for transactions in securities and derivatives that are executed on TASE and also provides central securities depository (CSD) services for securities. The Group engages in calculating security indices, in authorizing the use of indices for the creation of financial instruments that track the indices, and in distributing TASE trading data. In addition, since January 2018, the Group has operated a nominee company as defined in the Securities Law (securities traded on TASE are registered in the nominee company's name). The Company has one area of activity that is reported as a business segment in the Company's consolidated financial statements – trading and clearing transactions in securities

^[1] The Board of Directors of TASE today approved the Condensed Consolidated Financial Statement as of December 31, 2019. The consolidated financial statements of the Company were prepared in accordance with IFRS GAAP.
This is an English translation of parts of the information included in the approved financial statements. In the event of any discrepancy between the original Hebrew and the translation to English, the Hebrew version alone will prevail. The consolidated financial statements in the English Version will be published on the website by the end of April.

SOURCE The Tel Aviv Stock Exchange Ltd.