BUDAPEST STOCK EXCHANGE PLC.
QUARTERLY REPORTFOR THE PERIOD ENDING WITH 31THMARCH 2025.
MANAGEMENT REPORT AND FINANCIAL STATEMENTS
CONTENTS
MANAGEMENT REPORT 2 FINANCIAL STATEMENTS 62
MANAGEMENT REPORT
The net profit of the Budapest Stock Exchange (BSE) for the first quarter of 2025, which includes the BSE's share of the KELER Group's results, is 1,31 billion HUF
The EBITDA value in the first quarter of 2025. was 431 million HUF, which is 28% higher than the value achieved in the same period 2024.
The revenues of the Budapest Stock Exchange amounted to 1 109 million HUF in the first quarter of 2025, which is 22% higher than the revenue generated in the same period of the previous year.
In 2025. trading revenues grew 57% compared to the same period of last year. Issuer fee revenues are 4% higher than in 2024 Q1, while information services revenues grew 5 %.
The average equity market turnover in the first quarter of 2025, amounting to HUF 18.7 billion, exceeded the full-year average of HUF 11.8 billion in 2024. Compared to the same period in 2024, the turnover in the first quarter of this year is nearly 62% higher than the HUF 11.6 billion recorded a year earlier.
As of the end of March 2025, the Budapest Stock Exchange lists the securities of 155 issuer companies. In the first quarter, the shares of one new issuer, Glia Nova, were listed on the Xtend market, while Goodwill Pharma transitioned from the Xtend market to the Standard category of the regulated market.
In the debt section listed corporate bonds grew by 270 billion and mortgage bonds grew with 9 billion HUF.
The business line generated revenues of HUF 331 million in the first quarter, representing a 4% increase compared to the first quarter of 2024
The information services business line generated HUF 324 million in revenue during the period, which is 5,5 % higher compared to the first quarter of the previous year.
The result of financial operations amounted to HUF 56 million during the reporting period. This represents a decrease of HUF 25 million compared to the previous year, primarily due to the impact of unrealized exchange rate difference
In the first quarter, adjusted expenses amounted to HUF 676 million, which is HUF 102 million higher compared to the same period of the previous year.
In the first quarter of 2025, the KELER Group achieved a pre-tax profit of HUF 2,56 billion, supported by better-than-expected fee income and interest revenue, as well as savings in operating expenses.
Revenue from core activities amounted to 5,281 billion HUF, with a significant portion of HUF 3,498 billion coming from fees and commission income which overall was in line with the revenue level achieved in the same period of the previous year.
The interest rate differential amounted to HUF 1,785,2 billion, falling short of the base figure by HUF 175,2 million, primarily due to the decrease in the benchmark interest rat
The costs of the securities depository and clearing house amounted to HUF 2,788 billion in the first quarter of 2025, exceeding the operating expenses of the same period in the previous year by HUF 299,4 million.
3
PROFIT/LOSS CUMULATED BREAKDOWN* (MILLION HUF)
Description | 2025 Q1 | 2024 Q1 | CHANGE |
Revenues | 1 109 | 912 | +21,6% |
of which Revenues from trading fees | 439 | 279 | +57,3% |
of which Revenues from listing fees | 331 | 318 | +4,0% |
of which Revenues from sale of information | 324 | 307 | +5,7% |
Operating expenses without depreciation | -676 | -574 | +17,8% |
of which Expenses for material costs | -1 | -1 | 0% |
of which Expenses for services used | -217 | -198 | +9,6% |
of which Personnel costs | -396 | -340 | +16,5% |
of which Expenses arising from miscellaneous other costs | -44 | -35 | +25,7% |
of which Other expenses | -18 | 0 | |
Impairments and reversals | -2 | -2 | 0,0% |
EBITDA | 431 | 336 | +28,3% |
EBITDA/Revenues | 39,15% | 36,92% | |
Depreciation, amortisation | -69 | -90 | -23,3% |
EBIT | 362 | 246 | +47,2% |
KELER Group results attributable to BSE | 1 048 | 1 249 | -16,1% |
Profit or loss of financial transactions | 56 | 81 | -30,9% |
Income tax, business tax, innovation contribution | -156 | -165 | -5,5% |
Net profit or loss | 1 310 | 1 411 | -7,2% |
No valuation was performed for the KELER Group during the period; therefore, no impairment or reversal was recorde
DESCRIPTION | 2025 Q1 | 2024 Q1 | CHANGE |
Free cash flow excluding grants (adjusted) | 662 | 573 | +15,5% |
The total revenue of the Budapest Stock Exchange in the first quarter of 2025 amounted to HUF 1,11 billion, representing an increase of 21,6% compared to the revenues of the corresponding period
Operating expenses also increased by 17,8 %. The net profit of the Budapest Stock Exchange exceeded 1,3 H billio HUF n, representing a decrease of 7,2 % compared to the result achieved in the first quarter of 2024.
The Budapest Stock Exchange's adjusted free cash flow amounted to 662 million HUF in the first quarter of this year, which is15,5 % higher than the HUF 573 million recorded in Q1 2024. The free cash flow calculation is presented on page 31 of the financial statements
The calculation of the adjusted free cash flow is consistent with the methodology published in the Budapest Stock Exchange's 2024 Annual Report, which is presented on page 80 of the report.
5
The results presented in this report are unaudited; the statements and disclosed figures are based on the internal accounting records of the Budapest Stock Exchange and the KELER Group. This document constitutes an informational update on the BSE's operations in the first quarter of 2025 and does not qualify as a regular disclosure or regulated information. As such, it does not contain several values and disclosures that are included in reports subject to regular disclosure requirements, such as our Annual Report or Semi-Annual Report.
5
INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL
REPORTING STANDARDS (IAS 34) AS ADOPTED BY THE EUROPEAN UNION
TRANSLATION
TABLE OF CONTENTS
SEPARATE INTERIM FINANCIAL STATEMENTS
Separate statement of financial position
as at 31 March 2025 5
Separate statement of comprehensive income
for the period ended 31 March 2025 6
Separate statement of changes in equity
for the period ended 31 March 2025 7
Separate statement of cash flows
for the period ended 31 March 2025 8
NOTES
Selected notes to the interim financial statements
for the period ended 31 March 2025 10
5
IFRS REPORTING - INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
SEPARATE STATEMENT OF FINANCIAL POSITION
Description | Notes | 31.03.2025 | 31.12.2024 |
ASSETS | |||
Property, plant and equipment | 11 | 314 | 332 |
Intangible assets | 11 | 214 | 235 |
Right of use assets | 12 | 782 | 790 |
Investments in associates measured using the equity method and investments in subsidiaries | 13 | 19 400 | 18 363 |
Investments measured at fair value through other comprehensive income | 13 | 4 | 3 |
Loans at amortised cost | 14 | 22 | 22 |
Non-current assets | 20 736 | 19 745 | |
Inventories | 14 | 2 | 2 |
Trade and other receivables | 14 | 618 | 502 |
Prepaid expenses | 14 | 142 | 36 |
Accrued revenues | 14 | 113 | 560 |
Cash and cash equivalents | 14 | 9 259 | 8 655 |
Current assets | 10 134 | 9 755 | |
TOTAL ASSETS | 30 870 | 29 500 | |
EQUITY AND LIABILITIES | |||
Subscribed capital (par value: HUF 100/share) | 15 | 541 | 541 |
Retained earnings | 15 | 27 197 | 25 887 |
Revaluation reserve originating from associates | 15 | -1 | 9 |
Total shareholders' equity | 27 737 | 26 437 | |
Employee benefit liabilities (non-current) | 16 | 10 | 10 |
Non-current lease liability | 12 | 784 | 813 |
Deferred tax liabilities | 10 | 1 287 | 1 193 |
Non-current liabilities | 2 081 | 2 016 | |
Trade payables and other short-term liabilities | 17 | 95 | 675 |
Current tax liabilities | 10 | 14 | 9 |
Current lease liability | 12 | 119 | 117 |
Prepaid revenues | 17 | 545 | 56 |
Accrued expenses | 17 | 277 | 189 |
Employee benefit liabilities (current) | 16 | 2 | 1 |
Current liabilities | 1 052 | 1 047 | |
Liabilities | 3 133 | 3 063 | |
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 30 870 | 29 500 |
Budapest, 23 June 2025
Tibor Tóth Katalin Sámel Chief Executive Officer Financial Director
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
FORM AN INTEGRAL PART OF THE FINANCIAL STATEMENTS. 5
IFRS REPORTING - INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
Description | Notes | 01.01.2025- 31.03.2025 | 01.01.2024- 31.03.2024 |
Revenue | 6 | 1 101 | 910 |
Other income | 6 | 8 | 2 |
Expenses for material costs | 7 | -1 | -1 |
Expenses for services used | 7 | -217 | -198 |
Personnel costs | 7, 8 | -396 | -340 |
Depreciation and amortisation | 11, 12 | -69 | -90 |
Expenses arising from miscellaneous other costs | 7 | -44 | -35 |
Other expenses | 7 | -18 | 0 |
Share in the profit or loss of associates | 13 | 1 048 | 1 249 |
Interest income | 9 | 97 | 62 |
Other financial income | 9 | 0 | 27 |
Finance expenses | 9 | -41 | -8 |
Expenses from expected credit losses | 14 | -2 | -2 |
Profit/loss before taxation | 1 466 | 1 576 | |
Income tax expense/income | 10 | -156 | -165 |
Net profit or loss | 1 310 | 1 411 | |
Other comprehensive income | |||
Of which items to be subsequently reclassified to profit or loss | |||
Share of other comprehensive income of associates | 13 | -10 | -7 |
Other comprehensive income | -10 | -7 | |
Total comprehensive income | 1 300 | 1 404 | |
Net profit/loss (HUF thousand) | 1 310 682 | 1 410 811 | |
Net profit/loss (HUF million) | 1 310 | 1 411 | |
Average number of shares | 5 413 481 | 5 413 481 | |
Earnings per share (EPS) (Ft/share) | 242 | 261 | |
Diluted Earnings per share (Ft/share) | 242 | 261 |
SEPARATE STATEMENT OF COMPREHENSIVE INCOME
Budapest, 23 June 2025
Tibor Tóth Sámel Katalin Chief Executive Officer Financial Director
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORTING - INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
SEPARATE STATEMENT OF CHANGES IN EQUITY
Description | Subscribed CAPITAL | Retained EARNINGS | Revaluation RESERVE ORIGINATING FROM ASSOCIATES | Total SHAREHOLDERS' EQUITY |
Balance at 1 January 2025 | 541 | 25 887 | 9 | 26 437 |
Net profit or loss/other comprehensive income for the period 01.01.2025-31.03.2025 | 0 | 1 310 | -10 | 1 300 |
Dividends from retained earnings | 541 | 27 197 | -1 | 27 737 |
Balance at 31 March 2025 | 541 | 25 887 | 9 | 26 437 |
Balance at 1 January 2024 | 541 | 20 651 | 12 | 21 207 |
Net profit or loss/other comprehensive income for the period 01.01.2024-30.09.2024 | 0 | 1 411 | -7 | 1 404 |
Balance at 31 March 2024 | 541 | 22 065 | 5 | 22 611 |
Net profit or loss/other comprehensive income for the period 01.04.2024-31.12.2024 | 0 | 4 427 | 5 | 4 432 |
Dividends from retained earnings | 0 | -606 | 0 | -606 |
Balance at 31 December 2024 | 541 | 25 887 | 9 | 26 437 |
Notes | 15 | 15 | 15 | 15 |
Budapest, 23 June 2025
Tibor Tóth Sámel Katalin Chief Executive Officer Financial Director
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORTING - INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
SEPARATE STATEMENT OF CASH FLOWS
Description | Notes | 01.01.2025- 31.03.2025 | 01.01.2024- 31.03.2024 |
Cash flows from operating activities | |||
Profit before taxation | 1 466 | 1 576 | |
Adjustments to reconcile net profit to operating cash flows | |||
Depreciation and amortisation | 11, 12 | 69 | 90 |
Share of associated companies profit before taxation | 13 | -1 048 | -1 248 |
Adjustment for interest expenses on leases | 12 | 8 | 9 |
Reclassification to investing cash flows | 9 | -97 | -62 |
Non-cash adjustment (unrealised fx gains/losses) | 9 | 24 | 22 |
Impairments and reversals | 14 | 2 | 2 |
Employee benefits (non-cash item) | 14 | 1 | 4 |
Working capital adjustments | |||
Net (increase)/decrease in trade and other receivables | 14 | 220 | 427 |
Net (increase)/decrease in inventories | 14 | 0 | 1 |
Net change in advances received on government grants | 6 | -470 | -92 |
Net increase/(decrease) in trade and other creditors | 17 | 441 | 398 |
Income tax paid | 10 | -30 | -68 |
Net Cash from Operating Activities | 586 | 1 059 |
Continuation on the next page.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORTING - INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
SEPARATE STATEMENT OF CASH FLOWS (CONTINUED ON)
Description | Notes | 01.01.2025- 31.03.2025 | 01.01.2024- 31.03.2024 |
Cash flows from investing activities | |||
Interest received | 9 | 97 | 62 |
Purchase of intangibles, property, plant and equipment | 11 | -1 | -8 |
Acquisition of shares, additional payment | 13 | -1 | 0 |
Employee loans | 14 | 0 | -10 |
Repayment of employee loans | 14 | 1 | 1 |
Dividend received | 13 | 0 | 0 |
Income from the sale of intangibles, property, plant and equipment | 11 | 0 | 0 |
Net cash flow from investing activities | 96 | 45 | |
Cash flows from financing activities | |||
IFRS 16 Leases - principal and interest payments | 12 | -38 | -33 |
Net cash flow from financing activities | -38 | -33 | |
Net increase / (decrease) in cash and cash equivalents | 644 | 1 071 | |
Cash and Cash Equivalents at Beginning of Year | 14 | 8 655 | 4 164 |
Unrealised exchange differences on cash and cash equivalents at period-end | -40 | 11 | |
Cash and Cash Equivalents at End of the Period | 14 | 9 259 | 5 246 |
Budapest, 23 June 2025
Tibor Tóth Katalin Sámel Chief Executive Officer Financial Director
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
SELECTED NOTES TO THE INTERIM FINANCIAL STATEMENTS
REPORTING ENTITY
Name of Company:
Budapesti Értéktőzsde
Nyilvánosan Működő Részvénytársaság (Budapest Stock Exchange
Public Limited Company)
Legal form:
Public Limited Company
Registered office and address of
the company:
H-1013 Budapest, Krisztina körút 55., Hungary VI. emelet
Company registration number:
01-10-044764
Country of registration and operation (applicable law):
Hungary
Par value and number of
shares issued:
5,413,481 shares with a par value of HUF 100 each
Data of persons authorised to sign the report on behalf of
the Company:
Tibor Tóth, Chief Executive Officer
address: H-1124 Budapest, Vas Gereben u. 1.
Katalin Sámel, Chief Financial Officer address: H-1135 Budapest, Lehel utca 60. 6/1
Budapest Stock Exchange Plc. (hereinafter referred as: BSE or Company) was founded on 21 June 1990.
A key player on the Hungarian money and capital markets, Budapest Stock Exchange Plc. (BSE) provides economic operators with access to financial resources and offers investors a broad range of investment instruments. BSE's mission is to create a Hungarian economy based on stable and independent funding and to continuously develop the financial culture of the Hungarian population and corporate sector.
THE FOUR MAIN ACTIVITIES OF THE COMPANY
Listing services,
trading services,
dissemination of market information, and
product development.
The Company is operating under the relevant Capital Market Act. The Company's registered office: H-1013 Budapest, Krisztina körút 55., Hungary VI. emelet. The ownership structure of the Company is presented in Note 16.
The Company's controlling shareholder is Magyar Nemzeti Bank (MNB, the Hungarian National Bank; address: H-1054 Budapest, Szabadság tér 8-9).
All of the ordinary shares of BSE were introduced to the Standard category of the Budapest Stock Exchange on June 7, 2023.
Number of shares: 5 413 481
Par value: HUF 100
Initial price of share: HUF 2.906
ISIN: HU0000063078
The first day of trading was 21 June 2023. (Resolution of BSE no. 177/2023.)
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
BASIS OF PREPARATION
STATEMENT OF COMPLIANCE
These interim financial statements were prepared in accordance with the IAS 34 Interim Financial Statements standard, so they do not contain all the information presented in the year-end financial statements - in accordance with the IAS 1 Presentation of Financial Statements standard. This interim financial statement must be read in conjunction with the financial statements for the business year ending 31 December, 2024 (hereinafter the full financial statement). In the following, the additional comments necessary to assess the significant changes in the financial position and performance of the BSE since the last annual financial statements are presented.
BASIS OF MEASUREMENT
During the preparation of the current interim financial statements, the judgments and estimates used by BSE's management, which are applied by BSE's accounting policies, have an impact on the displayed assets, liabilities, income and expenses. There have been no changes in the accounting policies applied by BSE, as well as in the main estimation uncertainties, since the preparation of the last annual financial statements.
FUNCTIONAL AND PRESENTATION CURRENCY
These financial statements have been prepared in Hungarian forint (HUF) (the presentation currency), which is also the functional currency of BSE. All financial information presented in HUF has been rounded to the nearest million ("HUF million").
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
MATERIAL ACCOUNTING POLICY INFORMATION AND CHANGES THEREIN
The accounting policies and standards applied in the preparation of the interim financial statements of BSE are the same as those applied in the preparation of its financial statements as at 31 December 2024.
CHANGES IN ACCOUNTING POLICIES AND ERRORS (IAS 8)
CHANGES IN ACCOUNTING POLICIES
IMPACT OF CHANGES OF IFRSS EFFECTIVE FROM 1 JANUARY 2025 AND THE INTRODUCTION OF NEW STANDARDS ON FINANCIAL STATEMENTS
New and amended standards and interpretations issued by the IASB and adopted by the EU that are effective from the current reporting period:
Amendments to IAS 21 (The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability)
According to the evaluation of the Company, the adoption of the above standards and amendments to existing standards does not have a material impact on the Company's financial statements.
There are currently no new and revised standards and Interpretations issued by IASB and adopted by the EU but not yet effective.
Standards and interpretations issued by the IASB and not adopted by the EU:
IFRSs adopted by the EU currently do not differ significantly from regulations adopted by the International Accounting Standards Board (IASB), except for the following new standards, amendments to existing standards and new interpretations that have not yet been adopted in the EU as at the date of disclosure of the financial statements:
IFRS 18: Presentation and Disclosure in Financial Statements
IFRS 19: Subsidiaries without Public Accountability: Disclosures
Amendments to IFRS 7 and IFRS 9: Amendments to the Classification and Measurement of Financial Instruments
Amendments to IFRS 7 and IFRS 9: Contracts Referencing Nature-dependent Electricity
Annual Improvements Volume 11
The Company is currently in the process of evaluation of the effect of above standards and their modifications.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
CHANGES IN ACCOUNTING POLICY DUE TO BSE DECISION
There were no accounting policy changes in the period.
Share capital and EPS ratios are not affected by the reclassification.
PRIOR YEAR ERRORS
There are no Restatements due to Prior year errors in the present Financial Statements.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
FINANCIAL INSTRUMENTS: DISCLOSURES
FAIR VALUE HIERARCHY OF FINANCIAL ASSETS AND LIABILITIES
IAS 34 requires BSE to publish information on fair value of its assets and liabilities. BÉT currently does not have any significant assets that are to be valued at fair value in the statement of financial position.
CLASSIFICATION OF FINANCIAL INSTRUMENTS
The Company measures its financial instruments at amortised cost:
Trade and other receivables
Cash and cash equivalents
Employee benefit liabilities
Non-current and current lease liabilities
Trade payables and other short-term liabilities
PRESENTATION OF ASSETS AND LIABILITIES NOT MEASURED AT FAIR VALUE BY CLASSIFICATION INTO THE APPROPRIATE LEVEL OF THE FAIR VALUE HIERARCHY
All instruments are included in Level 3 of Fair value measurement, except cash and cash equivalents, which are included in Level 2. Carrying amount is a reasonable approximation of fair value.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
REVENUES AND OTHER INCOME
REVENUES FROM STOCK EXCHANGE ACTIVITIES
Description | 01.01.2025- 31.03.2025 | 01.01.2024- 31.03.2024 |
Revenues from trading fees | 439 | 279 |
Annual admission fees | 37 | 36 |
Fees of trading (monthly) and auctions | 401 | 242 |
Other revenue related to trading | 1 | 1 |
Revenues from listing fees | 331 | 318 |
Listing (one-off) fee | 34 | 20 |
Quarterly fee | 294 | 296 |
Other related revenue | 2 | 2 |
Revenues from sale of information | 324 | 308 |
Annual vendor fees | 160 | 146 |
Monthly vendor fees | 165 | 164 |
Other information services | 0 | -2 |
Revenues from other services | 7 | 5 |
Connection fees, licenses | 7 | 5 |
Total Revenues | 1 101 | 910 |
Trading revenues change primarily as a result of the daily turnover, especially the share section turnover.
The revenues from listed entities are partly related to one-off fees invoiced at the time of listing, and partly related to the listed assets in a given quarter.
Vendor fees are typically invoiced in EUR, so the recorded HUF revenues are partly affected by the exchange rate movements, and partly by the change in quantities.
All income is recognised within the year, or, if the Company recognises income over a given period, on a simple pro rata basis.
SEASONALITY
According to long-term historical experience, trading revenues bear seasonality, as the summer months (June - August) - mostly in line with holiday periods - generally produce a more restrained turnover on the stock markets compared to other months of the year.
In the case of listing fees from issuers and revenues from the sale of information, BSE did not identify any clear seasonality or any circumstances that would justify seasonality.
Since BSE is not a seasonal business operator, we do not present separate financial information related to seasonality.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
OPERATING SEGMENTS
The management of BSE has reviewed the entity's activities and operations and, on that basis, has concluded that there are no identifiable separable operating segments whose operating results would be reviewed by the chief operating decision maker of BSE in order to make a decision about resources to be allocated to the segment, since the following criteria are not met:
Most of the operating expenses cannot be allocated to a specific business activity or specific business contract. Direct and indirect allocation of most expenses to cost centers is not possible. Therefore, no discrete financial information is available.
OTHER INCOME
Description | 01.01.2024- 30.09.2024 | 01.01.2023- 30.09.2023 |
Revenue from government grants | ||
from the above: Grants received (reimbursed grants) | 0 | 0 |
from the above: Grants received (reimbursed BSE expenses) | 0 | 0 |
Other income | 8 | 2 |
Total Other Income | 8 | 2 |
GOVERNMENT GRANTS
Total amount of non-repayable grants available under the EDIOP-1.1.7-2017-00001 programme: it was HUF 1,307 million after a budget increase in 2022, with the aim of implementing training and mentoring programmes and providing stock exchange preparation for IPOs for companies identified in the context of the call. The programme and related payments by BSE ended in 2023. The Grantor approved the last settlement in January 2024 and transferred HUF 497 million to BSE.
The mirror project of EDIOP, the "BSE Mentoring Programme in the Central Hungary Region" ("CHR") project targets the same stock exchange development elements by focusing on the central regions. After the budget increase in 2022, the total amount HUF 846,75 million was available for this aim. In 2023, the CHR program also expired, BSE paid all relevant amounts to eligible partners, and the final approval also arrived in March 2025.
There are no unfulfilled conditions and other contingencies attaching to government assistance recognised.
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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QUARTERLY REPORT - 2025 Q1
IFRS REPORT - NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025; DATA IN MILLION FORINTS
A significant part of trade payables and other current liabilities is composed of advances received for the project:
EDIOP advance | 0 | 0 |
CHR advance | 0 | 470 |
Total project advances received (Within other short-term liabilities) | 0 | 470 |
NOTES TO THE FINANCIAL STATEMENTS ON PAGES 10 TO 35
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