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Overall
The operating results of SET Group for the years ended December 31, 2012 and 2011 were as follows:
(unit: THB million)
For the year ended December 31
2012 2011
Increase/(decrease)
Amount %
Operating revenues 3,365 3,245 120 3.70
Other income 152 137 15 10.95
Investment income 982 752 230 30.59
Operating expenses (2,599) (2,545) 54 2.12
Contributions to The Stock Exchange
of Thailand Foundation (“SOF”) (454) (359) 95 26.46
Income tax (126) (158) (32) (20.25)
Revenues over expenses 1,362 1,110 252 22.70
Revenues over expenses for the year ended December 31, 2012 increased by THB252 million, or 22.70%, in comparison with
2011. Operating revenues rose by THB 120 million, or 3.70%, mainly due to the increased revenue of securities market and technology
services, while revenue of derivatives market decreased. The growth in securities market revenue was mainly due to rises in daily
average trading value and market capitalization. Investment income rose by THB230 million, or 30.59%, mainly from interest income
from the increase in investment principal. Operating expenses rose by THB54 million, or 2.12%, mainly due to the rise in total SEC
fees, which are linked to the trading volume of equity instruments, while technology expenses increased because SET launched three
new IT systems in September 2012 (SET CONNECT for trading, SET FEED for market data and SET WATCH for market surveillance).
The contributions to the SOF increased by THB95 million, or 26.46%, because appropriation of one-third of revenues over expenses
to SOF as profit increased.
1. Analysis of operating results
1.1 Operating revenues
Operating revenues by segment
Operating revenues by segment were mainly from Securities markets, Derivatives markets, Technology services and Registrar
services.
Management Discussion and Analysis