Climate Exchange plc
Interim Statement for the six months ended 30 June 2009
Climate Exchange plc ("the Company" and, together with its
subsidiaries, "the Group"), the world's leading international
environmental marketplace, announces its interim results for the six
months ended 30 June 2009.
Financial Highlights
- Pro-forma core business operating profit of GBP6.7 million (H1 2008:
profit of GBP3.4 million), excluding share based payment expense
- Cash balances, including short term investments, were GBP16.5 million
at 30 June 2009 compared with GBP12.4 million at 31 December 2008
- For the first time, an unaudited IFRS pre-tax profit of GBP1.5
million (H1 2008: loss of GBP0.3 million)
Operating Highlights
- European Climate Exchange (ECX) average daily volume increased
to 21.5 million tonnes with 2,685 million tonnes traded in
total, 252% of H1 2008 (1,066 million tonnes)
- ECX continues to hold its leading position for EUA trading with a
market share of over 99% in futures and options
- Successful launch of T+1 futures contracts
- CCX membership increased from 459 to 464 during the period
- Chicago Climate Futures Exchange (CCFE) volume increased
to 617,618 contracts 211% of H1 2008 (292,065 contracts) as
trading momentum shifts to mandatory markets from voluntary,
where CCX volume declined to 26.2 million tonnes (H1
2008: 47.0 million tonnes)
- Fox Pitt Kelton appointed as Nomad; Fox Pitt Kelton
and J.P. Morgan Cazenove appointed as joint corporate brokers
Neil Eckert, Chief Executive, said: "The first half has been another
remarkable period where we have not only grown our business at a
tremendous pace but more importantly continued to consolidate our
number one position in terms of market share both in Europe and the
U.S. IFEX, our insurance derivatives business, has made a good start
and we believe has exciting potential for growth".
Richard Sandor, Chairman of Climate Exchange plc, said: "The Climate
Exchange group continues to experience strong growth built on the
widespread recognition that its family of exchanges are well placed to
service a variety of environmental issues around the world. The
successful launch of the Regional Greenhouse Gas Initiative futures and
the expansion of the Climate Exchange franchise
internationally, especially in China, shows that we can implement
strategies in both mandatory and voluntary markets with excellence in
design and execution".
--ENDS--
Contacts
Climate Exchange plc
Neil Eckert, CEO, 020 7382 7801
Matthew Whittell, CFO 020 7382 7802
Helene Crook, Investor Relations 020 7382 7807
Haggie Financial
Peter Rigby /Alexandra Parry 020 7417 8989
Fox Pitt, Kelton
Jonny Franklin-Adams 020 7663 6029
Simon Law 020 76636023
J.P.Morgan Cazenove
Alex Yule-Smith 020 7155 8653
Presentation for Analysts
There will be a presentation to analysts by Neil Eckert, CEO,
and Matthew Whittell, CFO, today at 9:30 a.m. at the offices of Haggie
Financial, 10 Fenchurch Avenue, London EC3M 5BN.
Webcast
A webcast of this morning's presentation to analysts will be available
on the Company's website, www.climateexchange.com this afternoon.
Press Meeting
The press are invited to attend a presentation by Neil Eckert, CEO,
and Matthew Whittell, CFO, at 11:00 a.m. today at the offices of Haggie
Financial, 10 Fenchurch Avenue, London EC3M 5BN.
Conference Call
There will be a conference call at 4:15 p.m. (London) with Richard
Sandor, Executive Chairman, Neil Eckert, CEO, and Matthew Whittell,
CFO. The conference dial in details are as follows:
Conference Title: Climate Exchange plc Half Year Results Presentation
Access Number + 44 (0)20 8609 0581
UK Toll Free Number 0800 358 1448
US Toll Free Number 1866 388 1925
US Access Number +1703 865 2823
About Climate Exchange plc
Climate Exchange plc is a holding company whose subsidiaries are
principally engaged in owning, operating and developing exchanges to
facilitate trading in environmental financial instruments including
emissions reduction credits in both voluntary and mandatory markets.
Its three main businesses are the European Climate Exchange (ECX) which
operates the leading derivatives exchange focused on compliance
certificates for the mandatory European Emissions Trading Scheme,
Chicago Climate Exchange (CCX) which operates a voluntary but
contractually binding cap and trade system for greenhouse gas emissions
in the U.S., and the Chicago Climate Futures Exchange (CCFE) the
leading U.S. regulated environmental products exchange whose contracts
include mandatory U.S. emissions such as SO2 , NOx and RGGI CO2.
www.climateexchange.com
About European Climate Exchange
The European Climate Exchange (ECX) manages product development and
marketing of emissions futures and options contracts on CO2 EU
allowances (EUAs) traded under the EU Emissions Trading Scheme and
Certified Emission Reductions (CERs) issued under the Kyoto Protocol.
ECX emissions products are listed and traded on the ICE Futures
electronic platform, offering a central marketplace for emissions
trading in Europe with standard contracts and clearing guarantees. ECX/
ICE Futures is the most liquid exchange for carbon emissions
trading with more than 100 members.
www.ecx.eu
About Chicago Climate Exchange, Inc. and Chicago Climate Futures
Exchange
The Chicago Climate Exchange (CCX) is a financial services business
whose objectives are to apply financial innovation and incentives to
advance social, environmental and economic goals. CCX is the world's
first and North America's only contractually binding rules-based
greenhouse gas emissions allowance trading system, as well as the
world's only global system for emissions trading based on all six
greenhouse gases. CCX members are leaders in greenhouse gas management
and represent all sectors of the global economy, as well as public
sector innovators. Greenhouse gas emission reductions achieved through
CCX are the only reductions in North America being achieved through a
legally binding compliance regime. Independent third party verification
is provided by FINRA. For a full list of CCX members, daily prices and
other Exchange information please see the CCX website.
The Chicago Climate Futures Exchange (CCFE), a wholly owned subsidiary
of the Chicago Climate Exchange, is a CFTC designated contract market
which offers standardized and cleared futures contracts on emission
allowances and other environmental products. Clearing services are
provided by The Clearing Corporation. Market surveillance services are
provided by the National Futures Association, the industry wide,
self-regulatory organization for the U.S. futures industry.
www.chicagoclimateexchange.com
www.ccfe.com
Click on, or paste the following link into your web browser, to view the
associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1244Z_1-2009-9-15.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
Contact Information: Contacts: RNS Customer Services 0044-207797-4400 http://www.rns.com