The Vienna Stock Exchange saw strong performance last year but its smaller Central and Eastern Europe-based exchanges have struggled and may be sold.
Vienna, which is the largest component of the Central and Eastern Europe Stock Exchange Group (CEESEG) saw a strong uptick in profits in 2014, mainly driven by increased trading activity and listings.
Operating profit for the year was €18.1 million, it told its annual general meeting, a 17.3% increase on 2013. Trading volume have risen substantially, up 23% to 247.5 billion from €38.5 billion in the previous year.
Listing activity has also helped bolster group profits, with public offerings on the Vienna Stock Exchange reaching their highest level since 2007. An all time high in corporate bond listings of €7.2 billion was also achieved.
However, the group’s other exchanges, in Prague, Budapest and Ljubljana, struggled and as a result, group operating income across CEESEG as a whole increased only slightly, from €27 million in 2013 to €28.6 million in 2014.
Michael Buhl, CEO of CEESEG, said: “Although there was no significant upturn in the economies of Central and Eastern Europe in the past year, we defended our position as the largest stock exchange group in Central and Eastern Europe and were able to keep our earnings stable.”
CEESEG is now examining a potential sale of the Slovenia-based Ljubljana Stock Exchange, saying it had received several expressions of interest during the spring, with a financial decision planned for summer this year.