In relation to the income and expenses budget approved by the General Meeting of Shareholders, all income items were exceeded and expenses are below estimated levels, so that the core business result for this quarter (+RON2.6 million) is significantly above budget (RON6.5 million for the entire 2024).
As for investment activity, the result is RON1.7 million higher than in the first quarter of 2023 and is mainly composed of the result of the revaluation of portfolio positions RON2.24 million and interest expenses of RON860,000.
“The item with the largest impact on the revaluation of portfolio positions is the holding of Gabriel Resources shares, which was detailed via the current reports dated March 8 and 13, 2024. The impact of the result on this position is -RON1.59 million of the total investment activity result,” the company said in its report.
The total revenues of the core business in the amount of RON7 million are up 46% compared with the first quarter of 2023 (RON4.79 million), with both segments of the core business (intermediation and market making activity) recording substantial increases.
“The revenues of the intermediation segment are RON4.16 million, up 85% compared with the first quarter of 2023, on the back of the increase in the intermediated value (on the equity segment) to RON607 million (first quarter of 2023: RON354 million). In terms of market share, it remains constant at around 7.2%. Market making segment revenues reached RON2.8 million, an increase compared with the amount recorded in first quarter of 2023 (RON2.4 million), with the increase supported by the revenues of the issuer market making sub-segment, where BRK added several new issuers to its client portfolio.”
BRK Financial Group has RON42 million capitalization. Its shares have lost 16.7% since the beginning year on a traded volume of RON7.5 million, Bucharest Stock Exchange data show.
(English version by Loredana Fratila-Cristescu)