Oslo Børs Holding ASA

Transcription

1 Oslo Børs Holding ASA 3rd Quarter October 2007

2 Overview

3 Third quarter highlights Continuing high level of market activity Operating revenues: NOK million (110.4) Operating profit: NOK 88.4 million (53.6) Earnings for the period: NOK 66.5 million (39.7) Earnings per share: NOK 2.66 (1.59) The Merger with VPS is expected to come into effect in early November

4 The market activity in the third quarter Equities number of transactions up 63% from Q306 Equities value traded up 46% from Q306 3 new listings net decrease in total Oslo Børs 239 in total Oslo Axess 14 in total 963 fixed income issues listed up from 921 in Q306 Derivatives number of contracts down 4% from Q306 Market data end users - up 15% from Q306

5 Oslo Axess 19 selskaper notert i løpet av første 6 mnd Pr. 22/10/2007 Materials; 4 Energy; 8 Information Technology; 2 Industrials; 2 Health Care; 1 Financials; 2

6 Oslo Axess Markedsverdi ca NOK 15 mrd Pr. 22/10/2007 Materials; Information Technology; 602 Energy; Industrials; 197 Health Care; 117 Financials; 1 126

7 Merger of Oslo Børs Holding ASA and VPS Holding ASA Oslo Børs VPS Holding expected to be a reality in November 280 employees Listed on the OTC list with ticker code OSLO Market capitalisation approximately NOK 6 billion Group CEO: Bente A. Landsnes Deputy Group CEO: Jan Hellstrøm Chairman of the Board: Leif Teksum Deputy Chairman of the Board: Halvor Stenstadvold 7

8 Milestones for the merger process (2007) March: The Boards of VPS Holding and Oslo Børs Holding recommend a merger 3 May: The Boards of both companies approve the Merger Plan 11 June: Extraordinary general meetings of both companies approve the merger 14 Sept: The Competition Authority resolves not to intervene 8

9 The next steps It is expected that the merger will be registered and be a reality in early November 2007 Functional structure will be operational from 1 December Legal structure will be in place from 1 January 2008 Premises: Stock Exchange Building and the Postgiro building 9

10 Oslo Børs Bente A Landsnes Functional structure Group Board Oslo Børs VPS Holding ASA Bente A Landsnes Staff functions Tom Kolvig Finance Geir Heggem Sales & Marketing Lisbeth Lindberg Legal Affairs Atle Degré Oslo VPS Jan Hellstrøm Oslo Market Data & Solutions Anders Brodin Oslo Derivatives Sveinung Dyrdal IT Jan Hellstrøm 10

11 Legal structure Oslo Børs VPS Holding ASA Oslo Børs ASA Oslo VPS ASA Oslo Clearing ASA Oslo Børs VPS AS Oslo Market Data & Solutions IT Staff functions Sales & Marketing Legal affairs Finance 11

12 Why merge? A sensible and appropriate integration Wide support from customers, owners and employees Will strengthen the securities value chain through more efficient and co-ordinated use of resources and expertise Synergies Better products and services for customers Ensures a competitive securities value chain Once the merger has been implemented, the new Board will prepare a new strategy and targets for the new company. 12

13 Main areas of activity for Oslo Børs VPS Holding ASA Organises and operates the only authorised marketplace in Norway for listing and trading securities (Oslo Børs), and in addition operates the regulated marketplaces Oslo Axess and the Alternative Bond Market. Provides an efficient infrastructure and services for securities settlement and for registration of rights to securities. 13

14 Financial review

15 P&L 3rd Quarter rd Quarter 3rd Quarter Change 30 Sept 30 Sept Change in % in % 2006 Operating revenues % % Operating expenses Salary and other personnel expenses Other operating expenses Operating expenses before depreciation % % Depreciation Total operating expenses Operating profit % % Net financial items Ordinary pre-tax profit Tax Earnings for the period % % Earnings per share (NOK) 2,66 1,59 68 % 8,41 6,34 33 % 8,81 Diluted earnings per share (NOK) 2,66 1,59 68 % 8,41 6,34 33 % 8,81

16 Revenue per area 3rd Quarter 3rd Quarter Change 30 Sept 30 Sept Change Equity Markets Fixed Income Markets Derivatives Markets Financial Market data Other Total operating revenues

17 Revenue per category 3rd Quarter 3rd Quarter Change 30 Sept 30 Sept Change Fixed fees- issuers Fixed fees - members Trading fees Prospectus and admission fees Financial market data Income from courses/seminars Other income Total operating revenues

18 Equity market - number of transactions (1000) Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q

19 Equity market value of turnover (NOK billion) Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q

20 Average revenue pr equity transaction (NOK) 30,0 25,0 20,0 15,0 10,0 5,0 0,0 Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 22,2 22,9 22,0 22,4 22,3 22,5 22,2 20,8

21 Equity market new issues (NOK million) Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q

22 Derivatives contracts and average revenue per contract , , , , , ,5 - Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 - Contracts Avg rev contr 2,7 2,7 1,7 1,3 1,4 1,1 1,6 1,3

23 Bond market and ABM number of listed issues Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 ABM Oslo Børs

24 Financial market data number of end-users Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q

25 30 Sept 30 Sept Fixed assets IT-systems Deferred tax assets Tangible assets Financial fixed assets Current assets Receivables Cash and cash equivalents Assets Equity Contributed equity Earned equity Total equity Liabilities Provisions for liabilities Current liabilities Equity and liabilities

26 Cash flow 3rd Quarter 3rd Quarter 30 Sept 30 Sept Cash flow from - operational activities investment activities financing activities Cash and cash equivalents at period's start Change in cash and cash equivalents Cash and cash equivalents at period's end Cash flow per share before financing activities (NOK) 2,77-1,37 9,60 4,58 6,84 Cash flow per share (NOK) 2,77-1,37 3,60-0,62 1,64

27 Equity 3rd Quarter 3rd Quarter 30 Sept 30 Sept Equity at period's start Profit for the period Dividends Increase in value of financial instruments Actuarial gains/losses in the period Equity at period's end Equity ratio 67 % 64 % 67 % 64 % 62 %

28 Share price (corrected for 1:5 sharesplit) Oslo Børs Holding VS OSEBX Priceindex Oslo Børs Holding OSEBXPR (norm.) Price ( = 19)

29 Largest shareholders 20 largest as of 10 October 2007 Name Nationality Holding Holding in numbers in percent 1. DNB NOR BANK ASA NOR ,67 % 2. LANDSBANKI ISLANDS ISL ,00 % 3. OMX AB SWE ,00 % 4. KLP FORSIKRING NOR ,21 % 5. NORSK HYDROS PENSJONSKASSE NOR ,81 % 6. ORKLA ASA NOR ,01 % 7. NORDEA BANK PLC (NOM) FIN ,37 % 8. STATE STREET BANK (NOM) USA ,19 % 9. PARETO AS NOR ,81 % 10. MSF-MUTUAL USA ,64 % 11. FOKUS BANK NOR ,00 % 12. FRANKLIN TEMPLETON LUX ,49 % 13. PARETO SECURITIES AS NOR ,00 % 14. UBS AG (NOM) GBR ,71 % 15. FONDSAVANSE AS NOR ,38 % 16. MSF-MUTUAL EUROPE USA ,36 % 17. TONSENHAGEN FORRETNINGSSENTER NOR ,71 % 18. DEUTSCHE BANK AG (NOM) GBR ,58 % 19. MP PENSJON NOR ,56 % 20. BANK OF NEW YORK GBR ,44 % Sum 20 largest ,94 %

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