TASE Reports the Results of the Financial Statements for the Second Quarter and the First Half of 2026
TASE Reports the Results of the Financial Statements for the Second Quarter and the First Half of 2026 |
| [04-August-2026] |
TASE concludes the second quarter with 36% revenue growth to NIS 185.4 million and 81% profit growth TASE Board of Directors Approves a Buyback Program of Up to NIS 150 million Through the End of 2026
Ittai Ben Zeev, TASE CEO, said today: "The results of the second quarter and the first half of 2026 illustrate the continued development and growth of the Israeli capital market. As part of the implementation of TASE's strategic plan, we are continuing to work to expand the retail investor base and to make the capital market more accessible to the public, alongside extensive activity to increase the involvement of foreign investors in the Israeli economy. The switch to Friday trading is already reflected in a significant increase in the foreign investors' share of trading, and we are in constant contact with international traders who are considering becoming new TASE members. At the same time, we see significant potential for more companies dual listing on TASE and for expanding the possibility for Israeli and international companies to perform global IPOs on TASE." TEL AVIV, Israel, Aug. 4, 2026 /PRNewswire/ -- The Tel-Aviv Stock Exchange Ltd. (TASE: TASE) today published its financial results for the second quarter and the first half of 2026 ended June 30, 2026. The first half of 2026 was characterized by volatility in the equity market against the backdrop of security developments but ended with positive returns in the leading equity indices: the TA-35 index posted gains of 12% since the beginning of the year, the TA-125 index rose by 9.5%, and the TA-90 index rose by 0.3%. TASE's equity market cap reached NIS 2.7 trillion at the end of the second quarter, compared to NIS 1.5 trillion in the corresponding quarter last year. During the first half, significant growth in trading activity was recorded on TASE, with the average daily trading volume in the equities market standing at NIS 5.7 billion - an increase of 65% compared to 2025. TASE notes the positive impact of the switch to Friday trading, with the average daily volume on Fridays standing at NIS 4.6 billion since the beginning of the year, compared to a volume of NIS 1.6 billion on Sundays in 2025, and the foreign investors' share of trading increasing to 41%, compared to 12.5% on Sundays in 2025. The IPO market demonstrated robust activity on TASE, with 15 new companies performing IPOs in the first half of 2026, and total capital raised in the equity market amounting to NIS 6.1 billion. In the corporate bond market, the business sector raised NIS 106 billion in the first half of the year. Strategic moves and market development TASE continues to implement its strategic plan, including the upcoming launch of a new application, which will provide free access to real-time trading data and "smart money" data to all investors. In addition, to date, nine companies have joined the liquidity enhancement Tailor-Made market-making program, and six new equity indices were launched in the second quarter of the year. On August 4, 2026, TASE's Board of Directors approved a share buyback program of up to NIS 150 million. Under the program, TASE will repurchase its shares from time to time through December 31, 2026, using the company's own resources. Highlights of the results for the second quarter of 2026: Revenue in the second quarter of 2026 totaled NIS 185.4 million, compared to NIS 136.1 million in the corresponding quarter last year - 36% increase, due mainly to the increase in Clearing House services and in trading and clearing commissions. Costs in the second quarter of 2026 totaled NIS 88.4 million, compared to NIS 80.7 million in the corresponding quarter last year - 10% increase, due mainly to an increase in employee benefits, share-based payments and operating expenses. Net financing income in the second quarter totaled NIS 4.1 million, compared to NIS 1.2 million in the corresponding quarter last year - 239% increase, due mainly to an increase in gains on marketable securities, a reduction in interest expenses on a loan, and a decrease in changes in the NIS-dollar exchange rates. The tax expense in the second quarter totaled NIS 22.1 million, compared to NIS 13 million in the corresponding quarter last year - 70% increase, due mainly to the increase in the pre-tax profit. The net profit in the second quarter of 2026 totaled NIS 78.9 million, compared to NIS 43.6 million in the corresponding quarter last year - 81% increase. The adjusted EBITDA in the second quarter totaled NIS 114.5 million, compared to NIS 71.6 million in the corresponding quarter last year - 60% increase. The adjusted profit in the second quarter totaled NIS 80.8 million, compared to NIS 44.4 million in the corresponding quarter last year - 82% increase, due mainly to the increase in revenue from services, less the increase in costs and in the tax expense. Highlights of the results for the first half of 2026: Revenue in the first half of 2026 totaled NIS 368.7 million, compared to NIS 267.1 million in the corresponding period last year - 38% increase, due mainly to the increase in Clearing House services and in trading and clearing commissions. Costs in the first half of 2026 totaled NIS 172.4 million, compared to NIS 165.5 million in the corresponding period last year - 4% increase, due mainly to an increase in employee benefits and operating expenses. This increase was partly offset by a decrease in computer and communications expenses and general and administrative expenses. Net financing income in the first half totaled NIS 6 million, compared to NIS 2.1 million in the corresponding period last year - 189% increase. The increase in net financing income was due mainly to an increase in gains on marketable securities, an increase in interest income on deposits, and a decrease in interest expenses on a loan. The tax expense in the first half totaled NIS 46 million, compared to NIS 24.3 million in the corresponding period last year - 89% increase. The increase in the tax expense was due mainly to the increase in the pre-tax profit. The net profit in the first half of 2026 totaled NIS 156.4 million, compared to NIS 79.4 million in the corresponding period last year - 97% increase. The adjusted profit in the first half totaled NIS 230.1 million, compared to NIS 133.5 million in the corresponding period last year - 72% increase. The adjusted profit in the first half totaled NIS 158.9 million, compared to NIS 81.3 million in the corresponding period last year- 96% increase. Most of the increase was due to an increase in revenue from services, less the increase in costs and the tax expense. This notification does not supersede the stated in the periodic financial statements of the Company for the second quarter of 2026, which contain the full and accurate information. Click here for the link to the full financial statements for the second quarter of 2026> Click here for the link to the financial presentation of the second quarter of 2026> Seasonality The revenue of the Company from trading and clearing is affected, inter alia, by the number of trading and clearing days. In the second quarter of 2026, there were 57 trading days, compared to 60 in the corresponding quarter last year. In the first half of 2026 there were 119 trading days, compared to 124 in the corresponding period last year. Presented below is information on the quarterly breakdown of trading days:
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SOURCE The Tel Aviv Stock Exchange Ltd. | ||||||||||||||||||||
Company Codes: OTC-BB:TVAVF,OTC-PINK:TVAVF,TelAviv:TASE,TelAviv:TASE.TA |
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