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Annual Report 2019 Ljubljana Stock Exchange

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Annual Report 2019 Ljubljana Stock Exchange Annual Report 2019 Ljubljana Stock Exchange Ljubljana, 10 April 2020 CONTENTS INTRODUCTION ......................................................................................................................... 3 Ljubljana Stock Exchange Highlights ..................................................................................... 4 Ljubljana Stock Exchange Company Profile ........................................................................... 5 Company ID .................................................................................................................................... 5 Business ......................................................................................................................................... 5 Report from the Management Board ...................................................................................... 6 Report from the Supervisory Board ........................................................................................ 8 BUSINESS REPORT ................................................................................................................... 12 Corporate Governance Statement ........................................................................................ 13 General Meeting ............................................................................................................................ 13 Supervisory Board ......................................................................................................................... 14 Management Board ....................................................................................................................... 15 Board of Members and Board of Issuers ......................................................................................... 16 Corporate Governance in the Group ................................................................................................ 17 Statement on Compliance with the Corporate Governance Code ....................................................... 17 Diversity Policy .............................................................................................................................. 18 Risk management .......................................................................................................................... 19 Other information (as at 31 December 2019) .................................................................................. 22 Mission, vision and strategic objectives ............................................................................... 22 Mission ......................................................................................................................................... 22 Vision ........................................................................................................................................... 22 Strategy and strategic objectives .................................................................................................... 23 Basic macroeconomic indicators for Slovenia ...................................................................... 23 Ljubljana Stock Exchange operations in 2019 ..................................................................... 23 Market capitalisation ...................................................................................................................... 23 Turnover on the Ljubljana Stock Exchange ...................................................................................... 24 Turnover of LJSE Member Firms ..................................................................................................... 25 Most traded equities on the LJSE .................................................................................................... 25 LJSE turnover structure according to markets in 2019...................................................................... 26 The LJSE blue chip index SBI TOP .................................................................................................. 26 Important Ljubljana Stock Exchange activities in 2019 ...................................................... 27 LJSE development and promotion activities and events .................................................................... 27 Domestic and international market promotion and international cooperation ..................................... 28 Events after the Accounting Period ................................................................................................. 29 Market surveillance and best market practices.................................................................... 30 Monitoring member firms and trades .............................................................................................. 30 1 | Annual Report 2019 Ljubljana Stock Exchange Counselling and support to listed companies ................................................................................... 30 Human Resource Management ............................................................................................. 30 Employees .................................................................................................................................... 31 Demographics and employees' academic profiles ............................................................................. 31 Staff training and development ...................................................................................................... 32 Staff motivation ............................................................................................................................. 32 A safe and healthy environment ..................................................................................................... 32 Communicating with employees ..................................................................................................... 32 Social corporate responsibility ........................................................................................................ 33 Business operations analysis ................................................................................................ 33 Ljubljana Stock Exchange operations in 2019 .................................................................................. 33 Objectives and plans for 2019 .............................................................................................. 39 FINANCIAL STATEMENTS ......................................................................................................... 40 INDEPENDENT AUDITOR’S REPORT ........................................................................................ 72 Contact info .......................................................................................................................... 76 2 | Annual Report 2019 Ljubljana Stock Exchange INTRODUCTION 3 | Annual Report 2019 Ljubljana Stock Exchange Ljubljana Stock Exchange Highlights Turnover and EBITDA 2.000 EUR 1,460,735 1.500 SALES REVENUE 1.000 in thousandin EUR EUR 145,334 500 EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND 0 AMORTIZATION (EBITDA) 2015 2016 2017 2018 2019 Turnover EBITDA 2019 (in EUR) Key financial figures for the company Ljubljana Stock Exchange 2019 2018 2017 2016 2015 Called-up capital 1,400,893 1,400,893 1,400,893 1,400,893 1,400,893 Equity 2,442,112 2,471,796 2,591,903 2,376,378 2,286,827 Assets 2,752,688 2,771,539 2,939,649 2,654,468 2,642,682 Revenues (total) 1,470,623 1,453,553 1,445,485 1,421,246 1,493,896 - revenues from trading fees 436,776 503,905 464,127 502,011 516,571 - other revenues 1,033,847 949,648 981,358 919,235 977,325 Costs (total) 1,439,080 1,390,127 1,352,242 1,355,835 1,579,384 - labour costs 607,566 617,626 615,491 546,430 758,576 - other costs 831,514 772,501 736,751 809,405 820,808 EBITDA 145,334 183,454 166,103 137,390 68,830 Operating profit / loss (EBIT) 30,368 62,632 88,421 63,427 -90,445 Profit / loss before tax 31,543 63,425 93,243 65,411 -85,488 Taxes -9,212 -16,541 -13,924 24,140 -10,684 Net profit / loss for the period 22,331 46,885 79,319 89,551 -96,172 SHARE INFORMATION Nr. of shares 33,571 33,571 33,571 33,571 33,571 Net profit per shares in EUR1 0.67 1.40 2.36 2.67 -2.86 Dividend per share in EUR - 1.69 5.03 - - Book value in EUR2 72.74 73.63 77.21 70.79 68.12 NUMBER OF EMPLOYEES Year-end 13 13 11 (+33) 12 10 Average3 11.1 12.4 12.3 9.8 10.1 1 Profit of the year/Average number of shares issued in the year 2 Equity as at 31 Dec/Total number of shares issued 3 excluding worker on maternity leave 4 | Annual Report 2019 Ljubljana Stock Exchange Ljubljana Stock Exchange Company Profile Company ID Name Ljubljanska borza, d. d., Ljubljana (English: Ljubljana Stock Exchange Inc., short: LJSE) Registered Office Slovenska cesta 56, 1000 Ljubljana, Slovenia Telephone +386 1 471 02 11 Fax +386 1 471 02 13 E-mail Address [email protected] Website www.ljse.si Incorporated on 26 December 1989 Share Capital EUR 1,400,893.01 Core Business Regulared Securities Market Operator Business Activity Code 67.110 Registration Number 5316081 VAT Identificaiton Number 59780061 Size Small Company (in accordance with Article 55 of the Companies Act (ZGD-1) - a large company for the purpose of preparing the books and annual report) Companies Register Entry 1/04218/00, District Court of Ljubljana Business The Ljubljana Stock Exchange (hereinafter: LJSE or company) is a joint stock company founded to foster the matching of supply and demand in securities trading and in trading in other financial
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