HEX Tallinn 2002 financial results

27.02.2003 TLN

Total turnover for HEX Tallinn, the group uniting Tallinn Stock Exchange and Estonian CSD, grew 62.5 pct from previous year’s level, totaling EEK 30.4 million (EUR 1.94 million). The shareholders’ equity was EEK 23.2 million (EUR 1.48 million) at the end of the period. 2002 consolidated net profit totaled EEK 2.1 (EUR 0.13 million) compared to the loss of EEK 0.58 million (EUR 0.04 million) in 2001.

Most significant events for HEX Tallinn in 2002 were the implementation of HEX’s trading environment, successful launch of the funded pension system, and registration of limited liability companies in the Estonian central register of securities. "These events enhanced substantially the group’s operations volume and had a positive effect on our financial results," said Gert Tiivas, the CEO of HEX Tallinn.

"As a result of the successful awareness campaigns and efficient registration procedures, 76 pct or 4039 limited liability companies were registered in the Estonian central register of securities by the end of the year. This increased the number of our clients considerably," said Tiivas.

The funded pension and central register of securities are expected to be the main sources of growth also in 2003. "Our priorities for year 2003 are smooth operation of the business fields that are important to retail investors and registered companies, as well as continuous improvement of the quality and range of our services," stated Tiivas. "Additionally, the integration of Estonian securities market with the Finnish and Latvian markets will continue in 2003."

Additional information:

Eva Palu
Head of Marketing and PR Department
Tallinn Stock Exchange / Estonian CSD

HEX Tallinn
Tel: +372 640 8800
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