{"id":387927,"date":"2020-11-24T12:03:57","date_gmt":"2020-11-24T17:03:57","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387927"},"modified":"2020-11-24T12:03:57","modified_gmt":"2020-11-24T17:03:57","slug":"the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/","title":{"rendered":"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Profit before financing income, net totaled approximately NIS 8.0 million, an increase of 38% compared to the corresponding quarter last year.<\/h2>\n<h2 class=\"xn-hedline\">TASE&#8217;s revenue amounted to NIS 72 million, an increase of 9% over the revenue in the corresponding quarter last year<\/h2>\n<h2 class=\"xn-hedline\">&#8211; Revenue costs increased by only 6%<\/h2>\n<h2 class=\"xn-hedline\">&#8211; Adjusted EBITDA totaled approximately NIS 19.3 million in the third quarter of 2020, compared to approximately NIS 17.0 million in the corresponding quarter last year, a 14% increase.<\/h2>\n<h2 class=\"xn-hedline\">&#8211; Adjusted net profit for the quarter amounted to approximately NIS 5.6 million, a decrease of 22% compared to the corresponding quarter last year, resulting from the transition to financing expenses.<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span><\/p>\n<p>\n            <span class=\"xn-location\">TEL AVIV, Israel<\/span>, <span class=\"xn-chron\">Nov. 24, 2020<\/span> \/PRNewswire\/ &#8212; <\/p>\n<p>        <\/span><br \/>\n        <b><br \/>\n          <span class=\"xn-person\">Ittai Ben-Zeev<\/span>, CEO of the Tel Aviv Stock Exchange, <\/b>says today: &#8220;TASE is concluding another quarter with a significant rise in trading revenue and growth of activity. The growing number of investors and the higher trading volumes in the third quarter of the year were accompanied by six new companies that joined TASE, bringing the number of new companies listed on TASE since the beginning of the year up to 17. Moreover, dozens of new IPOs are planned for the coming months, mainly by high-tech companies and R&amp;D partnerships. <\/p>\n<p>&#8220;As ever, and more so in these challenging times, TASE continues to play a central role as a capital raising and growth platform for Israeli businesses, allowing the public to partake in the success of the Israeli economy, most notably that of Israeli high-tech and technology. All this is achieved alongside the ongoing capital raising by the government and successful debt raising during the quarter.&#8221;<\/p>\n<p>The Tel-Aviv Stock Exchange (TASE: TASE) today announced its financial results for the third quarter and the first nine months ended <span class=\"xn-chron\">September 30, 2020<\/span>:<\/p>\n<p>\n        <u>Highlights of the Results<\/u>:<\/p>\n<p>\n        <b>The revenue in the third quarter of 2020 totaled approximately <span class=\"xn-money\">NIS 72 million<\/span>, <\/b>compared to approximately <span class=\"xn-money\">NIS 66 million<\/span> in the corresponding quarter last year \u2013 a 9% increase. The increase is due mainly to the significant increase in trading volumes on TASE following the coronavirus crisis, stemming mainly from the higher share trading volumes. Growth was also recorded for the other revenue items. Revenue from listing fees and levies increased by 10% compared to the corresponding quarter last year, mainly due to the large number of prospectuses. Clearing House services rose by 8% with the introduction of new services, and data distribution and connectivity services increased by 13% following the implementation of the information usage model and the initiation of Colocation services and hosting services for trading servers at TASE&#8217;s Data Center.<\/p>\n<p>\n        <b>Revenue<\/b>\u00a0for January-<span class=\"xn-chron\">September 2020<\/span> amounted to approximately <span class=\"xn-money\">NIS 226.8 million<\/span>, compared to approximately <span class=\"xn-money\">NIS 193.6 million<\/span> in the first nine months of 2019, an increase of 17% across all main revenue items. Revenue from trading and clearing commissions increased by 28% during the period, totaling approximately <span class=\"xn-money\">NIS 103 million<\/span>. A double-digit growth was also recorded in other main items, with a 10% increase in listing fees and levies to <span class=\"xn-money\">NIS 44.6 million<\/span>, an 11% increase in clearing services to <span class=\"xn-money\">NIS 42.4 million<\/span> and a 12% increase in data distribution and connectivity services to <span class=\"xn-money\">NIS 35.5 million<\/span>. The increase in said items stems, among others, from TASE&#8217;s strategic investments in the development of new products and services.<\/p>\n<p>TASE&#8217;s <b>costs <\/b>amounted to approximately <span class=\"xn-money\">NIS 64.1 million<\/span> in the third quarter of 2020, an increase of 6% compared to approximately <span class=\"xn-money\">NIS 60.3 million<\/span> in the corresponding quarter last year, which was due mainly to the increase in employee benefits, primarily in respect of non-utilization of vacation days in the quarter as a result of the coronavirus crisis and salary updates. <b>Expenses<\/b>\u00a0in the first nine months of the year amounted to <span class=\"xn-money\">NIS 191.6 million<\/span>, compared to expenses of <span class=\"xn-money\">NIS 183.0 million<\/span> in the corresponding period last year, a 5% increase. Close to two thirds of the increase in costs originates in employee benefits expenses resulting from salary updates, variable compensation and a reduction in the utilized vacation days due to the coronavirus crisis. The balance derives from an increase in marketing expenses and from an increase in IT expenses, primarily reflecting the activation of new systems.<\/p>\n<p>\n        <b>Financing expenses <\/b>totaled <span class=\"xn-money\">NIS 0.9 million<\/span> in the third quarter, compared to income of NIS\u00a03.1 million in the third quarter of 2019, stemming mainly from the 0.4% negative yield resulting from the drop-in prices of securities, compared to the positive yield of 1.5% in the corresponding quarter. Financing expenses in the first nine months of the year amounted to NIS\u00a01.8 million, compared to income of <span class=\"xn-money\">NIS 9.4 million<\/span> in the corresponding period last year.<\/p>\n<p>\n        <b>The adjusted EBITDA<\/b>\u00a0<b>in the third quarter of 2020 <\/b>totaled approximately <span class=\"xn-money\">NIS 19.3 million<\/span>, compared to approximately <span class=\"xn-money\">NIS 17.0 million<\/span> in the corresponding quarter last year, a double-digit increase of 14% between the quarters.\u00a0The increase is due to the higher revenue from services, and was partly offset, primarily by an increase in employee benefits and marketing. <b>The adjusted EBITDA<\/b>\u00a0<b>in the first nine months of 2020 <\/b>totaled approximately <span class=\"xn-money\">NIS 69.2 million<\/span>, compared to approximately <span class=\"xn-money\">NIS 47.8 million<\/span> in the corresponding period in 2019, an increase of 45%.<\/p>\n<p>\n        <b>Adjusted EBITDA as a percentage <\/b>of total revenue from services <b>in the third quarter of 2020<\/b> was 26.8%, compared to 25.8% in the corresponding quarter last year. <b>Adjusted EBITDA as a percentage <\/b>of total revenue from services <b>in the first nine months of the year <\/b>was 30.5%, compared to 24.7% in the corresponding period last year.<\/p>\n<p>\n        <b>The adjusted net profit in the third quarter of 2020 totaled approximately <span class=\"xn-money\">NIS 5.6 million<\/span><\/b>, compared to approximately <span class=\"xn-money\">NIS 7.2 million<\/span> in the corresponding quarter last year, a decrease of 22% between the quarters. The reduced profit was due mainly to the transition to financing expenses (compared to income in the corresponding quarter). <b>The adjusted net profit in the first nine months of 2020 totaled approximately <span class=\"xn-money\">NIS 26.7<\/span><\/b><b>\u00a0million<\/b>, compared to approximately <span class=\"xn-money\">NIS 18.2 million<\/span> in the corresponding period last year, an increase of 47% between the periods.<\/p>\n<p>\n        <b>Equity &#8211; <\/b>At the end of <span class=\"xn-chron\">September 2020<\/span>, TASE&#8217;s equity amounts to approximately <span class=\"xn-money\">NIS 620.1 million<\/span>, an increase of 4% compared to the end of 2019. TASE has surplus equity over regulatory requirements of approximately <span class=\"xn-money\">NIS 292 million<\/span>. <\/p>\n<p>\n        <b>Liquidity &#8211; <\/b>In the first nine months of the year, TASE created cash flows of approximately NIS\u00a075.1 million from operating activities and its balances of cash, cash equivalents and short-term financial investments amounted to approximately <span class=\"xn-money\">NIS 342.7 million<\/span>. TASE has surplus liquidity over regulatory requirements of approximately <span class=\"xn-money\">NIS 153 million<\/span>.<\/p>\n<p>This notification does not supersede the stated in the periodic financial statements of the Company for the third quarter of 2020, which contain the full and accurate information.<\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/maya.tase.co.il\/reports\/details\/1334373\" rel=\"nofollow noopener noreferrer\">Click here for the link to the financial statements for the third quarter of 2020.<\/a>\n      <\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/maya.tase.co.il\/reports\/details\/1334376\" rel=\"nofollow noopener noreferrer\">Click here for the link to the financial presentation of the third quarter of 2020:<\/a>\n      <\/p>\n<p>\n        <b>Contact: <br \/><\/b><br \/>\n        <span class=\"xn-person\">Yehuda van der Walde<\/span><br \/>\n        <br \/>EVP, CFO <br \/>Tel: +972-76-8160442 <br \/><a target=\"_blank\" href=\"mailto:cfo@tase.co.il\" rel=\"nofollow noopener noreferrer\">cfo@tase.co.il<\/a><\/p>\n<p>\n        <span class=\"xn-person\">Orna Goren<\/span><br \/>\n        <br \/>Head of Communication and Public Relations Unit <br \/>Tel: +972-76-8160405 <br \/><a target=\"_blank\" href=\"mailto:tase.ir@tase.co.il\" rel=\"nofollow noopener noreferrer\">tase.ir@tase.co.il<\/a><\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN02721&amp;sd=2020-11-24\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020-301179906.html\">http:\/\/www.prnewswire.com\/news-releases\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020-301179906.html<\/a><\/p>\n<p>SOURCE  The Tel Aviv Stock Exchange Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LN02721&amp;Transmission_Id=202011241200PR_NEWS_USPR_____LN02721&amp;DateId=20201124\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Profit before financing income, net totaled approximately NIS 8.0 million, an increase of 38% compared to the corresponding quarter last year. TASE&#8217;s revenue amounted to NIS 72 million, an increase of 9% over the revenue in the corresponding quarter last year &#8211; Revenue costs increased by only 6% &#8211; Adjusted EBITDA totaled approximately NIS 19.3 million in the third quarter of 2020, compared to approximately NIS 17.0 million in the corresponding quarter last year, a 14% increase. &#8211; Adjusted net profit for the quarter amounted to approximately NIS 5.6 million, a decrease of 22% compared to the corresponding quarter last year, resulting from the transition to financing expenses. PR Newswire TEL AVIV, Israel, Nov. 24, 2020 \/PRNewswire\/ &#8212; Ittai Ben-Zeev, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387927","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Profit before financing income, net totaled approximately NIS 8.0 million, an increase of 38% compared to the corresponding quarter last year. TASE&#8217;s revenue amounted to NIS 72 million, an increase of 9% over the revenue in the corresponding quarter last year &#8211; Revenue costs increased by only 6% &#8211; Adjusted EBITDA totaled approximately NIS 19.3 million in the third quarter of 2020, compared to approximately NIS 17.0 million in the corresponding quarter last year, a 14% increase. &#8211; Adjusted net profit for the quarter amounted to approximately NIS 5.6 million, a decrease of 22% compared to the corresponding quarter last year, resulting from the transition to financing expenses. PR Newswire TEL AVIV, Israel, Nov. 24, 2020 \/PRNewswire\/ &#8212; Ittai Ben-Zeev, &hellip; Continue reading &quot;The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T17:03:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN02721&amp;sd=2020-11-24\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020\",\"datePublished\":\"2020-11-24T17:03:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/\"},\"wordCount\":1134,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LN02721&amp;sd=2020-11-24\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\\\/\",\"name\":\"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/","og_locale":"en_US","og_type":"article","og_title":"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020 - Market Newsdesk","og_description":"Profit before financing income, net totaled approximately NIS 8.0 million, an increase of 38% compared to the corresponding quarter last year. TASE&#8217;s revenue amounted to NIS 72 million, an increase of 9% over the revenue in the corresponding quarter last year &#8211; Revenue costs increased by only 6% &#8211; Adjusted EBITDA totaled approximately NIS 19.3 million in the third quarter of 2020, compared to approximately NIS 17.0 million in the corresponding quarter last year, a 14% increase. &#8211; Adjusted net profit for the quarter amounted to approximately NIS 5.6 million, a decrease of 22% compared to the corresponding quarter last year, resulting from the transition to financing expenses. PR Newswire TEL AVIV, Israel, Nov. 24, 2020 \/PRNewswire\/ &#8212; Ittai Ben-Zeev, &hellip; Continue reading \"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-24T17:03:57+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN02721&amp;sd=2020-11-24","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020","datePublished":"2020-11-24T17:03:57+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/"},"wordCount":1134,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN02721&amp;sd=2020-11-24","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/the-tel-aviv-stock-exchange-reports-the-results-of-the-financial-statements-for-the-third-quarter-of-2020\/","name":"The Tel-Aviv Stock Exchange Reports The Results Of The Financial Statements For The Third Quarter Of 2020 - 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