Budapest Stock Exchange Reports 25% Higher EBITDA

The net profit of the Budapest Stock Exchange (BSE) for the first three quarters of 2025, which includes the BSE's share of the KELER Group's results, is HUF 3.89 billion. The EBITDA value for the the first three quarters of 2025 was HUF 1,252 million, which is 25% higher than the value achieved in the same period 2024, BSE reports on its website.

The revenues of the Budapest Stock Exchange amounted to HUF 3,220 million in the first three quarters of 2025, which is 17% higher than the revenue generated in the same period of the previous year.

In 2025 trading revenues grew 43% compared to the same period of last year. Issuer fee revenues are 3% higher than in 2024 Q1-Q3, while information services revenues grew 7%.

The average equity market turnover in the first three quarters of 2025 amounted to HUF 17 billion, exceeded the full-year average of HUF 11.8 billion in 2024. Compared to the same period in 2024, the turnover in the first three quarters of this year was nearly 51,6% higher than the HUF 11.2 billion recorded a year earlier.

As of the end of September 2025, the Budapest Stock Exchange lists the securities of 155 issuer companies. During the first three quarters, the shares of one new issuer, Glia Nova, were listed on the Xtend market, while Goodwill Pharma transitioned from the Xtend market to the Standard category of the regulated market.

In the debt section listed corporate bonds grew by HUF 279 billion and mortgage bonds grew with HUF 39 billion. The business line generated revenues of HUF 981 million during the first three quarters, representing a 3% increase compared to the Q1-Q3 in 2024.

The information services business line generated HUF 999 million in revenue during the period, which is 7% higher compared to the first three quarters of the previous year. The result of financial operations amounted to HUF 242 million during the reporting period. This represents a
decrease of HUF 16 million compared to the previous year, primarily due to the impact of unrealized exchange rate differences.

During the quarters I-III, adjusted expenses amounted to HUF 1,967 million, which is HUF 218 million higher compared to the same period of the previous year.