NeoNet reports strongest half year ever
• Operating revenues for the period January-June increased by 62 percent to SEK 309.8 m (191.5)
• Operating earnings before depreciation and net financial items (EBITDA) increased by 101
percent to SEK 83.8 m (41.7)
• Earnings before tax were SEK 65.8 m (22.7)
• Earnings after tax were SEK 45.9 m (15.9)
• Earnings per share were SEK 0.75 (0.31)
• Underlying cash flow was SEK 58.6 m (27.1)
• Record equity trading during the quarter and half. The high level of trading continued into July and August, after the end of the reporting period.
• NeoNet expanded its product offering with algorithms from Citi investment bank
• NeoNet added the exchanges in Hong Kong and Singapore
• As of July, NeoNet was upgraded to the Mid Cap segment on the Nordic Exchange in Stockholm
“NeoNet is reporting its strongest half year ever, and further trading records were broken in the period under review. NeoNet’s scalable business model and economies of scale in its technical platform and system mean that EBITDA for the half (+101 percent) is growing at a faster rate than revenues (+62 percent). Using NeoNet’s XG system and software services in combination with its broker services, clients can handle all their trading via NeoNet. In other words, NeoNet is well positioned to meet the increased demand for scalable and effective technical solutions,” says Simon Nathanson, President and CEO of NeoNet.
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