Zagreb Stock Exchange · ZSE:ZB
Zagreb Stock Exchange — Investor Presentation (October 2025)
23 slides from Zagreb Stock Exchange's investor presentation, October 2025
Slide 1: Investor Presentation October 2025
INVESTOR PRESENTATION October, 2025
Slide 2: Operating and financial highlights
Operating and financial highlights Equity turnover – EUR mil. Financial performance (consolidated) 1-3Q 2024 1-3Q 2025 change EUR 000 210 391 +85% Operating revenue Bond turnover – EUR mil. 1-3Q 2024 2,878 EBITDA 1-3Q 2024 1-3Q 2025 change 1-3Q 2024 1-3Q 2025 change 22 21 -1% 1-3Q 2025 3,588 304 698
Slide 3: Contents
Contents 4 Key Events 5 About ZSE 8 Trading 11 ZSE Indices 16 Ljubljana Stock 18 Financial 21 Share Group activity results statistics Exchage 3
Slide 4: Key Events
Key Events Jun-24 Sep-24 Oct-24 Nov-24 Dec-24 Feb-25 Mar-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 „PrimePlus” ZSE „PrimePlus” investment „Ring the FINA delivers investment ZSE & LJSE MOU signing Zagreb ZSE & LJSE SLB bond webcast for „Challenge ZSE Academy Bell for notice on webcast for „CEE for region
Slide 5: About Zagreb Stock Exchange
About Zagreb Stock Exchange Management Board Office and IR IT Division IT and Business • Founded in 1991, Zagreb Stock Development Business The Exchange is the operator of the Development regulated market in the Republic of Regulated Market and Croatia. Markets Progress Department SME GM • ZSE share
Slide 6: Ownership Structure
Ownership Structure ZSE Ownership structure as of 30 September 2025 9,99% RR ONE CAPITAL D.O.O. FINA 9,99% 31,60% PBZ CO OMF • On September 30, 2025, ZSE had a INTERKAPITAL D.D. total of 210 shareholders. BAKTUN, LLC • On September 30, 2025, ZSE owns a 9,98% EBRD total of 6,256 of own shares which I
Slide 7: Zagreb Stock Exchange Group
Zagreb Stock Exchange Group Legal Affairs Market Operations • ZSE holds a 33.33% stake in SEE Link, a regional trading platform. Supervisory Board Market Operations • ZSE held a 30% stake in Funderbeam South East Europe – a crowdfunding IT platform for start-ups, whih has been deregistered from the
Slide 8: Trading activity
Total turnover 1-3Q 2024/1-3Q 2025 Trading activity 1-3Q 2024 1-3Q 2025 change EUR 1-3Q 2025 188 185 -1.6% 625 98% Trading Days 1-3Q 2024 1-3Q 2025 change TOTAL TURNOVER 316,305,987 625,091,505 97.62% EUR 1-3Q 2024 316 Orderbook turnover 255,027,858 463,019,892 81.56% Shares 210,903,744 390,671,853
Slide 9: Trading activity: securities turnover 2024/2025
Securities turnover 2024/2025 Trading activity 400 350 390 295 300 Orderbook turnover and volume 250 157 162 80 12 84 EUR mil. 10 200 70 10 68 150 60 125 104 59 56 8 100 50 43 68 EUR mil. 6 50 6 mil. 40 5 5 6 87 108 35 4 0 4 4 4 30 2024. 2025. 2024. 2025. 3 3 3 3 3 3 4 20 2 Shares Equity Block Turno
Slide 10: Trading activity: market capitalization
Trading activity Market capitalization per sector as of September 30 2025 Market capitalization and number of listed shares 16 70 O Public administration and defence; compulsory social security 14 58 60 K Financial and insurance activities 50 12 Number of listed shares 50 4,1% 1,8% 10 2,1% CD Manufa
Slide 11: Indices
Indices - values as of 30.09.2025 / 30.09.2024 0,00 1.000,00 2.000,00 3.000,00 4.000,00 5.000,00 Indices 2.938,30 CROBEX 3.798,11 29,26% 2.248,84 • Along with higher turnovers, nearly all CROBEXtr 3.008,23 33,77% 1.823,65 equity indices recorded substantial CROBEX10 2.416,91 32,53% growth at the end
Slide 12: CROBEX and CROBEXtr indices
EUR Thousands EUR Thousands 0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 0 1.000 2.000 3.000 5.000 6.000 4.000 7.000 2023-01-02 2023-01-02 2023-03-02 2023-03-02 2023-05-02 2023-05-02 2023-07-02 2023-07-02 2023-09-02 2023-09-02 2023-11-02 2023-11-02 2024-01-02 2024-01-02 2024-03-02 Turnover 2024-05-02
Slide 13: CROBEXprime and CROBEXindustrija indices
EUR Thousands EUR Thousands 0 1.000 2.000 3.000 4.000 5.000 6.000 500 0 1.000 1.500 2.000 2.500 3.000 3.500 2023-01-02 2023-01-02 2023-03-02 2023-03-02 2023-05-02 2023-05-02 2023-07-02 2023-07-02 2023-09-02 2023-09-02 2023-11-02 2023-11-02 2024-01-02 2024-01-02 2024-03-02 2024-03-02 Turnover 2024-05
Slide 14: CROBEXturist and CROBEXtransport indices
EUR Thousands EUR Thousands 0 100 200 300 400 500 600 700 800 900 0 1.000 1.500 2.000 2.500 3.000 3.500 500 2023-01-02 2023-01-02 2023-03-02 2023-03-02 2023-05-02 2023-05-02 2023-07-02 2023-07-02 2023-09-02 2023-09-02 2023-11-02 2023-11-02 2024-01-02 2024-01-02 2024-03-02 2024-03-02 2024-05-02 Turno
Slide 15: Bond indices
EUR Thousands 0 10.000 20.000 30.000 40.000 50.000 60.000 70.000 80.000 90.000 100.000 2023-01-02 2023-03-02 2023-05-02 2023-07-02 2023-09-02 2023-11-02 2024-01-02 Bond indices 2024-03-02 Turnover 2024-05-02 Source: ZSE website CROBIS 2024-07-02 2024-09-02 2024-11-02 Last Value 2025-01-02 2025-03-02
Slide 16: Ljubljana Stock Exchange – trading overview
Ljubljana Stock Exchange – trading overview 1-3Q 2024 1-3Q 2025 change 30.09.2024. 30.09.2025. change TOTAL TURNOVER 374.607.804 637.962.466 70,3% Equity market 11.515.083.905 17.770.756.765 54,3% Orderbook turnover 348.151.984 557.055.567 60,0% capitalization Top 5 shares by turnover SBITOP value 1
Slide 17: Ljubljana Stock Exchange - indices
EUR Thousands 0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 2023-01-03 2023-03-03 2023-05-03 2023-07-03 2023-09-03 2023-11-03 2024-01-03 2024-03-03 Turnover 2024-05-03 2024-07-03 SBITOP 2024-09-03 2024-11-03 Last Value 2025-01-03 2025-03-03 2025-05-03 2025-07-03 2025-09-03 0,00 500,00 1.000,00 1
Slide 18: Financial Results (Unconsolidated)
Financial Results (Unconsolidated) Key Financial Indicators 2.000 1.893 1.534 1.500 EUR 1-3Q 2024 1-3Q 2025 Change Operating revenue 1,533,667 1,892,993 23.4% Sales revenue 1,008,159 1,402,064 39.1% 1.000 EUR 000 Other operating income 525,508 490,929 -6.6% Operating expenses 1,601,631 1,777,504 11.
Slide 19: Financial Results (Consolidated)
Financial Results (Consolidated) Key Financial Indicators 4.000 3.588 3.500 3.000 2.878 EUR 1-3Q 2024 1-3Q 2025 change Operating revenue 2,878,290 3,588,338 24.7% 2.500 EUR 000 Sales revenue 1,881,902 2,623,188 39.4% 2.000 Other operating income 996,388 965,150 -3.1% Operating expenses 2,809,486 3,1
Slide 20: Balance Sheet Structure
Balance Sheet Structure Unconsolidated Consolidated Assets Assets 30.9.2025 62,0% 34,0% 4,1% 30.9.2025 47,8% 46,4% 5,7% 31.12.2024. 65,0% 31,8% 3,2% 31.12.2024. 42,2% 53,8% 4,0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Fixed assets Current assets Prepai
Slide 21: Share statistics – 1-3Q 2025
Share statistics – 1-3Q 2025 ZB Share Statistics – 2024/2025 250.000,00 9,00 8,00 200.000,00 Symbol ZB 7,00 ISIN HRZB00RA0003 6,00 Shares outstanding 2,317,850 150.000,00 EUR Turnover Share Price Segment Official Market 5,00 First trading day 31.08.2016. 4,00 Market Cap 8.99 mil € 100.000,00 Last pr
Slide 22: Useful links
Useful links MACEDONIAN Zagreb Stock STOCK Exchange EXCHANGE Events 22
Slide 23: Thank you!
Thank you! Zagreb Stock Exchange Investor Relations ir@zse.hr tel: +38514686806 23
Zagreb Stock Exchange — Investor Presentation (October 2025) on 6ix