FIMA Daily Insight
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FIMA Daily Insight Friday, February 12, 2016 Croatia Croatian equities closed lower yesterday with both indices decreasing; CROBEX decreased 0.16% to 1,595.35 pts and blue chip CROBEX 10 declined 0.12% to 934.59 pts. Regular stock turnover ZAGREB STOCK EXCHANGE amounted to HRK 6.13 million. (Negative) CROBEX Last 1.595,35 Tourism company Valamar Riviera (RIVPRA CZ) topped the liquidity board collecting HRK 1.07 million daily -0,16% in turnover and its price decreased 0.09% to HRK 22.90. YTD -5,58% Boygues Batiment International and Forbes Real Estate LLC submitted non binding bids for the CROBEX10 Last 934,59 redevelopment into a tourist complex of the former MUZIL military site, nears the Adriatic town of daily -0,12% Pula, for which the the deadline for filing expressions of interest expired on Feb 8, 2016. (Positive) YTD -5,53% Zagreb based Tehnika has reported yesterday through the Zagreb Stock Exchange about its business Stock Turnover (EUR m) 0,71 account blockade. They noted that management is undertaking maximum efforts in order to abolish MkCap(%of GDP) 38,43% the previous measures and expect the problem to be resolve as soon as possible. (Negative) Source:www.zse.hr Retail trade in December 2015 increased 4.8% in real and 3.8% in nominal terms year on year, the national statistical office said on Thursday. In November 2015, retail trade increased 3.2% year on year. The December 2015 increase was the highest jump since September 2007, when it stood at LJUBLJANA STOCK EXCHANGE 7.2%. Last December was also the 17th consecutive month in which retail trade increased on the year, which had not been recorded since 2007, two years before a six-year recession. Over 2015, SBI TOP Last 671,03 retail trade grew 2.4% from 2014. Last year was the second straight year in which consumption went daily -0,90 up. Over 2014, retail trade rose 0.5%, for the first time since 2009, the first recession year. YTD -3,61% (Positive) Stock Turnover (EUR m) 1,11 Slovenia MkCap(%of GDP) 12,15% The Sava Turizem Group realised over 1,112,000 overnight stays in 2015, which is a 4% Source:www.ljse.si improvement on the previous year, thereby increasing sales revenues by 5%. Last year the Group generated sales revenues of EUR 65.4 million, or EUR 3.1 million more yoy. The Sava Turizem Group generated EBITDA of EUR 13.9 million in 2015, thereby improving the 2014 result by EUR 2.7 million. BUCHAREST STOCK EXCHANGE In addition, the net profit increased compared to 2014. All of the aforementioned achievements are due to the successful implementation of the new strategy adopted in 2012. In January, overnights in BET Last 6.039,86 hotels and apartments increased by almost 4.5% and in campsites by almost 17%. Good occupancy daily -1,52% rates are expected also in February, particularly during Valentine’s Day weekend and winter holidays. YTD -13,77% (Positive) BET BK Last 1.178,11 Passenger traffic at the Ljubljana airport edged up 0.6% to 73,567 in January, Germany’s Fraport daily -1,53% Group, which operates the airport, said. Aircraft movements at Ljubljana airport dropped 7% to 1,974 YTD -12,19% in the first month of 2016. The airport's passenger numbers rose 10% to 1.44 million in 2015. (Positive) BET TR Last 6.879,38 daily -1,52% Romania YTD -13,77% Romanian lender BRD (BRD RO), part of French banking group Societe Generale, said on Thursday its Stock Turnover (EUR m) 10,60 net profit rose to RON 467 mln (EUR 104 mln) in 2015 from RON 68 mln a year earlier due to further decline of risk cost and reduction of operating expenses. Net banking income dropped by 4.4% yoy to MkCap(%of GDP) 18,39% RON 2.5 bln in 2015, affected by low interest rate environment. Non-performing loans (NPL) ratio fell Source:www.bvb.ro to 17.1% in 2015 from 20.3% a year earlier, mainly as a result of write-off transactions. Operating costs fell by 2.3% to RON 1.2 bln compared to 2014, while the cost versus income ratio stood at 51.7%. BRD's total assets stood at RON 49.2 bln by end-December, up from RON 45.18 bln at the BULGARIAN STOCK EXCHANGE end of 2014. (Positive) SOFIX Last 444,49 Shareholders of Romanian chemical company Chimcomplex Borzesti (CHOB RO), will decide in March daily -0,72% on the participation of the company in the acquisition of chemical plant Oltchim, by itself or in partnership with other investors. (Neutral) YTD -3,56% Stock Turnover (EUR m) 1,35 Leu-denominated consumer loans granted by banks reached RON 33 bln (EUR 7.3 bln) at the end of last year, an increase of almost 11% on 2014. This is the first double-digit growth for such loans since MkCap(%of GDP) 15,95% the onset of the crisis. (Positive) Source:www.bse-sofia.bg Romania's finance ministry on Thursday sold a planned RON 500 mln (EUR 111.6 mln) worth of treasury bonds maturing in December 2022, at an average yield of 2.89%. (Neutral) Bulgaria Bulgargaz forecasts another 20% decline in natural gas prices in Q2 2016. The natural gas incumbent in Bulgaria expects prices to decline further after registering a 30% decline in 2015 due to lower oil prices. Bulgargaz buys natural gas from Gazprom at prices linked to alternative fuels over the past 9M. Thus, the new price decline is anticipated. The company is expected to present its price proposal to the local energy regulator by March 11th, 2016. (Negative) For more information please contact us via mail [email protected] or on tel. +385 42 66 09 64 FIMA Daily Insight Friday, February 12, 2016 TOP 5 Companies ZAGREB STOCK EXCHANGE 11 February 2016 turnover (HRK) by price - Gainers (CROBEX) by price - Decliners (CROBEX) Symbol Price Volume (mln) Change Symbol Price Change Symbol Price Change RIVP-R-A 22,90 1,07 -0,09% MAIS-R-A 218,00 3,02% DLKV-R-A 11,42 -4,03% HT-R-A 140,50 1,04 0,23% INGR-R-A 2,60 2,77% DDJH-R-A 34,52 -2,76% KRAS-R-A 500,11 0,87 0,00% TPNG-R-A 71,00 0,71% OPTE-R-A 1,77 -2,75% ADRS-P-A 341,00 0,87 -0,58% ERNT-R-A 969,90 0,55% ZABA-R-A 37,25 -1,97% ATGR-R-A 811,00 0,23 0,00% ADPL-R-A 92,50 0,37% BLJE-R-A 22,60 -0,79% TOP 3 Companies LJUBLJANA STOCK EXCHANGE 11 February 2016 turnover (EUR) by price - Gainers by price - Decliners Symbol Price Volume (000) Change Symbol Price Change Symbol Price Change KRKG 60,5 528,85 -0,02% SAVA 0,150 114,29% ITBG 0,005 -97,50% PETG 257 316,47 -0,19% IEKG 0,599 15,19% POSR 12,1 -3,04% CICG 72 70,20 0,00% ZDDG 2,030 1,00% TLSG 73 -1,99% TOP 3 Companies BUCHAREST STOCK EXCHANGE 11 February 2016 turnover (RON) by price - Gainers by price - Decliners Symbol Price (RON) Volume (000) Change Symbol Price Change Symbol Price Change TLV 2,2300 8.671 1,36% MECF 0,1225 10,36% EFO 0,0730 -8,75% BRD 9,8700 5.906 -0,90% PREB 0,2250 4,65% IMP 0,9000 -7,22% SNG 23,1500 2.371 -1,07% ARTE 5,4800 3,40% IARV 5,7800 -5,25% TOP 3 Companies BULGARIAN STOCK EXCHANGE 11 February 2016 turnover (BGN) by price - Gainers by price - Decliners Symbol Price (BGN) Volume (000) Change Symbol Price Change Symbol Price Change 4CF 1,000 84,59 0,00% 3MZ 3,410 6,40% 4O1 7,300 -8,75% 53B 11,500 28,75 -4,16% 6S7 1,110 4,72% SL9 0,850 -5,56% 3JR 2,570 16,78 -0,39% 5PET 0,537 3,87% 53B 11,500 -4,16% Investments stories Sirma Group Holding - IPO from September 16th until October 15th 2015. The company plans to raise BGN 26.4 mln by issuing 16 mln new shares at a price range of BGN 1.20-1.65 per share. Sirma is the biggest Bulgarian IT developer with over 20 years of successful operations. Corporate events 15.02.2016. Transgaz (TGN RO) – Results for 4Q 2015 15.02.2016. Fondul Proprietatea (FP RO) – Results for 4Q 2015 15.02.2016. Nuclearelectrica (SNN RO) – Results for 4Q 2015 % For more information please contact us via mail [email protected] or on tel. +385 42 66 09 64 FIMA Daily Insight Friday, February 12, 2016 Long-term credit Croatia Slovenia Bulgaria Romania rating Fitch BB BBB+ BBB- BBB- Standard&Poors BB A- BB+ BBB- Moody's Ba1 Baa3 Baa2 Baa3 Exchange rates FX RATE HRK per EUR 0,13088 FX RATE BGN per EUR 0,51149 FX RATE RON per EUR 0,2208 FX RATE EUR per USD 1,0854 For more information please contact us via mail [email protected] or on tel. +385 42 66 09 64 FIMA Daily Insight Friday, February 12, 2016 CONTACTS FOR INSTITUTIONAL INVESTORS IRENA IVANKOVIĆ [email protected] +38542 66 09 64 DARKO HORVAT [email protected] +38542 66 09 62 TRADING DEPARTMENT: [email protected] +385 42 66 09 60 DISCLAIMER FIMA Daily Insight is a daily publication of FIMA Securities Ltd.