Net profit of the St. Petersburg Stock Exchange in 2023 decreased by 2.8 times

According to last year’s results, EBITDA decreased by 11.9% and amounted to 2.56 billion rubles. The EBITDA margin in 2023 was 35.30% (-2% year-on-year). Along with profits, total revenue decreased; in 2023 they amounted to 910 million rubles, compared to 1,920 million rubles in 2022.

At the same time, the platform increased its share capital by 4.6%, up to 20.95 billion rubles. However, return on equity fell from 10.10% in 2022 to 3.31% last year.

The total assets of SPB Exchange at the end of 2023 are estimated at 112.86 billion rubles, of which 53.59 billion rubles are uncollected payments and investor income from international foreign securities depositories. They are located in non-trading sections of escrow subaccounts, which will be paid after the assets are unlocked.

In 2023, the operating expenses of the St. Petersburg Stock Exchange decreased and amounted to 7.24 billion rubles (-6.4%).

The operating income of the St. Petersburg Stock Exchange in 2023 decreased by 6.4% to 7.24 billion rubles, compared to 7.74 billion rubles the previous year. Income from services and commissions decreased by 43.6% to 1.45 billion rubles, compared to 2.57 billion rubles the previous year.

At the same time, interest income increased to 2.58 billion rubles, an increase of 17%. Investment income also increased, which amounted to 2.11 billion rubles (+18.7%).

The report reflects the results of investments in IT platform development, including by creating infrastructure for the digital financial assets market. Thus, intangible assets increased by 40.72% over the year and amounted to 1.13 billion rubles. In March 2024, the Central Bank included SPB Exchange in the register of digital financial asset exchange operators.

• SPB Stock Exchange specialized in trading securities of international companies. In November 2023, the site was placed on the US SDN list, resulting in its isolation from the dollar system, a ban on cooperating with US companies, and other restrictions. As a result, trading in foreign securities had to be stopped.
• At the end of March, the general director of the trading platform, Evgeny Serdyukov, said that in the new realities, the St. Petersburg Stock Exchange will focus on IPOs of Russian companies, which are also subject to Western restrictions. The first such IPO on the site may be the placement of Element Group of Companies.