DOCSLIB.ORG

FIMA Daily Insight

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FIMA Daily Insight FIMA Daily Insight IN FOCUS - ZAGREB STOCK EXCHANGE March 18, 2011 ZSE STOCK MARKET Although most shares closed higher, due to 1.9% decline of oil and gas company w Ina (INARA CZ) domestic indices ended mixed with CROBEX adding 0.08% while CROBEX Last 2.260,7 CROBEX10 slipped 0.17% on regular stock turnover of HRK 25.2 million. % daily 0,08% Diversified producer and distributor Atlantic Group (ATGRRA CZ) was in % YTD 7,10% investors’ focus soaring 3.6% to HRK 805 on HRK 2.2 million in turnover. CROBEX10 last 1252,3 Investors await quarterly results which will also include consolidation of Droga % daily -0,17% Kolinska. On 2010FY results, Atlantic Group also posted pro-forma consolidated % YTD 8,49% results giving investors an insight into what to expect at 1Q2011 results. In pro- forma consolidation, revenues would reach HRK 4,6 billion (99.2% increase), Stock Turnover (HRK m) 25,21 EBITDA HRK 524 million (+159.8%), EBIT HRK 317 million (+116.2%) and Net Total MCAP (HRK bn) 207,12 Income HRK 173.8 million (+78.8%). Source: www.zse.hr Plastic auto-parts producer AD Plastik (ADPLRA CZ) gained 1.9% on turnover of HRK 1.9 million after newspapers reported that Renault’s partner Nissan is CROBEX MOVERS targeting significant portion of Russian car maker AvtoVaz which should, together with 25% currently held by Renault, secure major ownership. Large part of AD Plastik’s products ends in Renaults cars. -10,0% -8,0% -6,0% -4,0% -2,0% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% INGR-R-A Construction engineering company Ingra (INGRRA CZ) soared 7.4% collecting THNK-R-A HRK 0.9 million in turnover. It seems selling pressure eased a bit after Ingra’s ATGR-R-A PTKM-R-A share price deteriorated 21.4% since the beginning of the year, after shares from IGH-R-A debt to equity swap flooded the market together with one of Ingra’s daughter ZABA-R-A company Ingra Gradnja which was also liquidating its position in parent company. DLKV-R-A KNZM-R-A Hotel operator Suncani Hvar (SUNHRA CZ) extended its rally rocketing 24.4% to VIRO-R-A ATPL-R-A HRK 48.5 after recent announcement that two major shareholders; Croatian ADRS-P-A Privatisation Fund and Luxembourg based Orco Property Group agreed to reduce HT-R-A JDPL-R-A claims by HRK 41.2 m through a debt-for-equity swap. ERNT-R-A CKML-R-A LEDO-R-A ULPL-R-A PODR-R-A LKPC-R-A KOEI-R-A KRAS-R-A KORF-R-A JNAF-R-A INA-R-A ISTT-R-A * data is calculated using last traded price Source: www.zse.hr CROBEX 3 MONTH MOVEMENT 2.400 70 2.300 60 2.200 50 2.100 40 2.000 p t s 30 1.900 Daily news headlines (more available on www.fima-securities.com): 20 HRKMillions 1.800 10 1.700 Cisco to pay first cash dividend 1.600 0 Japan supply chain concerns grow Turnover CROBEX Yen Eases and Markets Jump After G-7 Intervention Source: www.zse.hr DealBook: Fed to Release Results of Bank Stress Tests Continental recalls tires on Ford pick-ups For more information please contact us via mail [email protected] or on tel. +385 42 66 09 60 1 FIMA Daily Insight IN FOCUS - ZAGREB STOCK EXCHANGE Slovakians interested in Croatian market LIQUIDITY TOP 5 HT-R-A 4.353.772 HRK Slovakian venture capital fund Slavia Capital, which wanted to buy Ina’s chain of INA-R-A 4.067.818 HRK 14 filling stations Crobenz last year, is interested in acquiring a smaller bank in ATGR-R-A 2.209.203 HRK ADPL-R-A 1.919.214 HRK Croatia, and the talks are in the initial phase. Slavia Capital’s M&A Vice President PBZ-R-A 1.723.308 HRK Viktor Levkanic says the potential acquisition is in line with their regional Source: www.zse.hr expansion. In 2005, the fund purchase a 3.6-percent stake in Serbia AIK Banka, MARKET SENTIMENT in 2007 a 9.9-percent stake in Macedonian Investbanka. By acquiring a bank in No. of traded stocks 68 Croatia, Slavia Capital would make a breakthrough to the market. Last year, the Increase 43 Competition Agency rejected its offer for Crobenz due to non-transparent Decrease 25 operation. It was speculated that Ina’s owner MOL was behind the fund, but w/o change 0 Slavia denied this. Levkanic also denies they are buying Ina shares at the ZSE Source: www.zse.hr now. (Source: www.limun.hr original text was published on www.banka.hr) MACROECONOMIC PARAMETERS Real GDP (Q2 2010)* 0,2% M. Vizek: If we continue to borrow like this, we’ll never make it to Real GDP (2009)* -5,8% Eurozone CPI (September 10)** 1,4% Unemployment (October 10) 17,8% For the third time in less than two years Croatia borrowed money at the U.S. FX RATE HRK per EUR 7,21 market. Unofficially, finance minister Martina Dalic sold American investors state FX RATE HRK per USD 5,82 bonds worth USD 1.5bn. The ten-year bonds were issued with a 6.375-percent Source: www.dzs.hr, www.hnb.hr interest, which is around 0.25 percent lower than in July 2010, when ex-finance * % change, yoy minister Ivan Suker was borrowing money in USA. In total, the new loan to be ** % change, yoy, end of period used for repaying old debts will cost Croatian tax payers around USD 2.5bn, or more than HRK 13bn. According to Bloomberg, even with the lower interest, CROATIA LT CREDIT RATING Croatia still has the most expensive borrowing in the world. If Croatia continues FitchRatings: BBB- to borrow like this, we will never make it to the Eurozone, Maruska Vizek of the Standard&Poor's: BBB- Moody's: Baa3 Institute for Economics says. (Source: www.limun.hr original text was published Source: www.hnb.hr in Jutarnji list) MIDPOINT EXCHANGE RATES OF THE CNB Vipnet to take over B.net? After having announced the sale of its telecom operator in Croatia – B.net 9,0 several times, only to cancel it later, Austrian Bewag has finally decided to sell. 8,0 The company now says it is ready to sell B.net when market conditions are right, 7,0 especially after excellent business results in 2010. B.net was established in 2007, 6,0 by merging cable operators DCM and Adriatic Kabel, for which Bewag paid 5,0 around EUR 55m. Bewag says a large number of companies are interested, but it cannot comment on the case until the acquisition process has been completed. 4,0 Reportedly, the Austrians have received six or seven serious bids. The most likely 3,0 candidates are Croatia’s second leading telecom operator Vipnet and investment fund MID Europa Partners. (Source: www.limun.hr original text was published on HRK/EUR HRK/USD Business.hr) Source: www.hnb.hr For more information please contact us via mail [email protected] or on tel. +385 42 66 09 60 2 FIMA Daily Insight IN FOCUS - ZAGREB STOCK EXCHANGE CROATIAN EQUITIES (FUNDAMENTAL MULTIPLES) Average Mk cap (HRK price (HRK) m) P/E P/S P/Bv EV/EBITDA EV/EBIT EV/S Yd 09 10e 09 10e 09 10e 09 10e 09 10e 09 10e 09 10e Industry Adris Grupa (preferred)* 267,5 4.795,9 9,6 8,0 1,7 1,5 0,8 0,7 4,0 3,4 5,9 4,5 1,1 1,0 2,6% 2,6% Belišće 631,0 734,7 265,8 0,8 1,3 22,3 13.517,0 1,6 0,0% Ericsson Nikola Tesla 1.618,1 2.154,7 17,2 1,5 1,8 12,5 24,7 1,1 7,4% INA 3.995,9 39.958,9 - 1,7 3,4 31,5 2.670,4 2,0 0,0% Konĉar DiST 1.200,0 303,0 9,2 0,5 2,2 5,7 8,5 0,5 8,6% Konĉar Elektroindustrija 543,2 1.397,1 12,4 0,5 1,0 12,6 40,2 0,5 0,0% Petrokemija 143,7 480,2 - 0,2 0,6 - - 0,4 0,0% Food Ĉakoveĉki mlinovi 3.800,0 399,0 16,9 0,6 1,0 7,3 13,6 0,6 3,2% Kraš 422,0 579,7 15,3 0,6 0,9 7,2 13,3 0,8 4,7% Ledo 6.231,9 1.372,1 13,5 1,2 2,1 14,6 19,7 1,9 0,0% Podravka 316,8 1.717,3 - 0,5 1,1 1.396,5 - 0,8 0,0% Viro 430,2 596,5 170,3 1,1 2,4 13,3 20,9 1,8 0,0% Telecom HT-Hrvatske Telekomunikacije 284,9 23.332,5 11,5 12,6 2,6 2,8 1,9 2,1 5,2 5,3 8,4 8,4 2,2 2,3 12,0% 8,8% Construction Dalekovod 261,4 599,5 6,7 7,1 0,2 0,2 0,9 0,8 5,0 5,4 6,6 7,1 0,5 0,5 0,0% 0,0% Hidroelektra Niskogradnja 147,3 91,9 17,0 0,1 0,5 2,7 5,0 0,1 0,0% Institut IGH 1.852,6 293,8 27,5 0,4 0,8 14,6 32,5 1,5 0,0% Ingra 13,6 102,0 - 0,2 0,2 22,5 26,2 1,7 0,0% Tehnika 1.280,0 242,5 20,3 0,2 0,8 32,8 - 0,5 0,0% Viadukt 255,0 116,5 - 0,1 0,7 4,7 - 0,2 5,4% Transportation Atlantska Plovidba 729,9 1.018,6 - 20,9 1,3 1,2 0,8 0,7 12,5 8,3 401,1 22,2 2,8 2,6 2,7% 2,7% Jadroplov 144,5 236,5 - 1,0 0,4 12.823,7 - 1,1 0,0% Jadranski naftovod 3.133,9 2.328,0 19,6 5,2 0,8 7,6 14,9 4,9 0,0% Luka Ploĉe 1.368,2 304,6 74,1 2,0 1,6 16,3 54,2 2,1 0,0% Luka Rijeka 221,0 1.321,9 369,5 5,8 3,8 51,5 124,1 6,2 0,0% Uljanik Plovidba 641,9 372,3 7,1 1,6 0,7 9,2 23,3 4,9 6,2% Retail/Wholesale Atlantic Grupa 795,8 2.653,5 31,2 21,6 1,2 1,2 3,7 3,2 14,4 11,6 18,3 14,2 1,3 1,2 1,1% 1,2% Konzum 203,9 4.630,0 13,6 0,4 2,6 8,1 10,2 0,6 0,0% Magma 23,8 116,0 - 0,1 7,1 - - 0,7 0,0% Tourism HUP - Zagreb 1.379,5 650,3 25,5 2,4 1,2 12,6 33,2 3,5 1,2% Istraturist Umag 257,4 1.203,4 32,0 3,2 1,6 13,8 26,1 4,5 0,0% Liburnia Riviera Hoteli 2.050,5 620,6 679,0 3,1 0,7 21,9 138,8 3,4 0,0% Maistra 60,0 657,1 - 1,4 0,7 19,3 - 3,2 0,0% Plava Laguna 1.720,0 1.040,0 21,0 2,1 0,7 6,1 17,0 2,2 4,4% Riviera Poreĉ 220,0 803,8 - 1,4 0,6 16,7 - 2,9 0,0% “ - “ s t a n d s for negative value of multiple * multiples for Adris Group calculated on diluted basis For more information please contact us via mail [email protected] or on tel.
Load more

Recommended publications
  • Customer Satisfaction of the Co-Branded Food Products on Croatian Market
    Journal of Economics, Business and Management, Vol. 7, No. 4, November 2019 Customer Satisfaction of the Co-branded Food Products on Croatian Market Berislav Andrlic, Anton Devcic, and Mario Hak Abstract—This scientific paper describes the marketing II. SELECTING THE APPROPRIATE PARTNERS AND FOOD impact of co-branding and customer satisfaction on the food CO-BRANDING FORMATION PROCESS market due to it's rapid changing and internal and external marketing environment. New ways of branding strategies and The purpose of co-branding on food market is the selection new model of consumer behavior give rise to new or existing appropriate partners and that represents the first step towards branded food products on the market. Term co-branding is most development of activity. By careful selection, co-branding commonly found in food market as these type of business often negative aspects and risks can be minimized. Compatibility face economic problems operating in certain times or seasons between food brands is extremely important and that must be hence they need the assistance of other services to make their the starting point in the elimination process among potential operating costs relevant. The typical co-branding agreement involves two or more companies acting in cooperation to candidates. Partner selection is made accordingly to associate any of various logos, color schemes, or brand predetermined criteria, depending on the specific aim that identifiers to a specific product that is contractually designated should be accomplished and by the strategy that is to be for this purpose.In order to examine this scientific problem the applied. Just as every individual has his own strengths and following methods were used: analysis, synthesis, induction, weaknesses, so the brands have.
    [Show full text]
  • American Higher Education Programs for Successful Careers High Quality American Why Students Choose RIT Croatia? Standards of Education
    American higher education programs for successful careers High quality American Why students choose RIT Croatia? standards of education ENGLISH RIT Croatia is a global campus of the prominent American university, PLEASE Rochester Institute of Technology (RIT), from Rochester, New York. RIT is known for contemporary American programs and career-oriented education. We are proud of our student and alumni, their stories, ideas and success. Two degrees; an internationally accredited All classes are in English Studying in an international American degree from RIT, New York and environment a Croatian degree from RIT Croatia Our traditional and virtual classrooms prepare students for challenging global careers. RIT Croatia provides its students with a support system during their years of studying which includes academic advisors, faculty and peer mentors, career advisors, ombudsperson, study abroad and Erasmus specialists and Internatonal Student Office. We promote diversity, curiosity, innovativeness, integrity. We are an excellent choice for all who wish to study in an international and dynamic environment. We offer the following programs at our campuses: BS DEGREES AWARDED BY RIT AND RIT Croatia // HOSPITALITY AND TOURISM MANAGEMENT An opportunity to spend one or two 800 – 1,200 hours of cooperative High American educational (DUBROVNIK) semesters at RIT campuses in Rochester, education in companies in standards // INTERNATIONAL BUSINESS (ZAGREB), New York and in Dubai, UAE Croatia and abroad AACSB ACCREDITED // WEB AND MOBILE COMPUTING (DUBROVNIK
    [Show full text]
  • Trading Summary First Quarter of 2017
    Trading Summary First quarter of 2017 Zagreb, April 2017. This publication was prepared and published by the Zagreb Stock Exchange Inc., Ivana Lučića 2a/22, Zagreb (hereinafter: Exchange). The publication is intended to provide information to the public and shall not be deemed to constitute an offer or invitation to buy or advice on trade or investment in financial instruments or opinion on the terms of the purchase or sale of any financial instrument mentioned therein whether favourable or not, nor should it be relied on as a substitute for own judgement or assessment by any user of this publication. The Exchange waives responsibility and liability for any damage which might arise out of the use of information contained therein. Further use of information available in this publication is permitted by the Exchange provided that the source is cited. Copyright © 2017. Zagreb Stock Exchange Zagreb Ivana Lučića 2a/22 All rights reserved. Content: 1 TRADING .................................................................................................................................. 1 1.1 COMPARISION WITH PREVIOUS QUARTER .............................................................................................................. 1 1.2 COMPARISON WITH PREVIOUS YEAR ..................................................................................................................... 2 1.3 MONTHLY TRADING OVERVIEW ........................................................................................................................... 4
    [Show full text]
  • Possibilities of Applying Markowitz Portfolio Theory on the Croatian Capital Market
    POSSIBILITIES OF APPLYING MARKOWITZ PORTFOLIO THEORY ON THE CROATIAN CAPITAL MARKET Dubravka Pekanov Starčević, Ph.D. J. J. Strossmayer University of Osijek, Faculty of Economics in Osijek E-mail: [email protected] Ana ZRNIć, Ph.D. Student, J. J. Strossmayer University of Osijek, Faculty of Economics in Osijek E-mail: [email protected] Tamara Jakšić, BEcon, student J. J. Strossmayer University of Osijek, Faculty of Economics in Osijek E-mail: [email protected] POSSIBILITIES OF APPLYING MARKOWITZ PORTFOLIO THEORY ON THE CROATIAN CAPITAL... MARKOWITZ PORTFOLIO THEORY ON THE CROATIAN POSSIBILITIES OF APPLYING Abstract In order to achieve the maximum possible profit by taking the lowest possible risk, investors build a stock portfolio consisting of a specific number of stocks which, according to the principle of diversification, significantly reduce the risk of loss. To build a portfolio, in developed capital markets investors have used the Markowitz portfolio optimization model for many years that enables us to find an optimal risk-return trade-off by selecting certain stock combinations. Despite the development of the Zagreb Stock Exchange, i.e., the central trading venue in the Republic of Croatia, the Croatian capital market is still under- developed. It is characterized by numerous shortcomings such as low liquidity, lack of transparency, high stock price volatility and insufficient traffic. Accord- ingly, the aim of this paper is to provide an insight into the functioning of the Dubravka Pekanov Starčević • Ana Zrnić • Tamara Jakšić: Dubravka Pekanov Starčević • Ana Zrnić Tamara 520 Croatian capital market and to examine the possibility of building an optimal stock portfolio by using the Markowitz model.
    [Show full text]
  • Podravka Group Business Results for January – December 2020 Unaudited Content
    koprivnica, 26th february 2021 Podravka Group business results for January – December 2020 unaudited Content 3 Key financial indicators in 1 – 12 2020 5 Operations of the Podravka Group in conditions of COVID-19 disease 8 Significant events in 1 – 12 2020 and after the balance sheet date 12 Overview of sales revenues in 1 – 12 2020 19 Profitability in 1 – 12 2020 24 Key highlights of the income statement in 1 – 12 2020 27 Key highlights of the balance sheet as at 31 December 2020 30 Key highlights of the cash flow statement in 1 – 12 2020 32 Share in 1 – 12 2020 36 Additional tables for 1 – 12 2020 40 Consolidated financial statements in 1 – 12 2020 48 Statement of liability 49 Contact podravka group business results for 1 – 12 2020 2 Key financial indicators in 1 – 12 2020 podravka group business results for 1 – 12 2020 3 Key financial indicators in 1 – 12 2020 (in HRK millions) 2019 2020 Δ % Sales revenue 4,409.4 4,503.2 93.8 2.1% EBITDA1 509.0 546.7 37.7 7.4% Net profit after MI 221.6 248.9 27.3 12.3% Net cash flow from operating activities 272.9 384.5 111.5 40.9% Cash capital expenditures 153.9 192.4 38.5 25.0% Normalized EBITDA2 515.5 543.1 27.5 5.3% Normalized net profit after MI 223.6 244.4 20.8 9.3% (in HRK; market capitalization in HRKm) 31. 12. 2019 31. 12. 2020 Δ % Net debt / normalized EBITDA 1.6 1.4 (0.2) (15.3%) Normalized Earnings per share 32.0 35.0 2.9 9.2% Last price at the end of period 484.0 485.0 1.0 0.2% Market capitalization 3,380.6 3,391.2 10.5 0.3% Return on average equity3 7.3% 7.6% +26 bp Return on average assets4 4.7% 5.1% +41 bp note: decimal differences in the document are possible due to rounding.
    [Show full text]
  • FIMA Daily Insight
    FIMA Daily Insight IN FOCUS - ZAGREB STOCK EXCHANGE January 8, 2013 Stocks on ZSE traded higher today. CROBEX increased 0.24% to ZSE STOCK MARKET 1,808.40 pts while blue chip CROBEX10 gained 0.21% to 1,010.86 pts. CROBEX Last 1.808,4 Regular stock turnover amounted to HRK 14.4 million. % daily 0,24% Integrated telecom HT (HTRA CZ) topped the liquidity board collecting % YTD 3,91% HRK 4.3 million in turnover. The price increased 0.9% to HRK 210.70. CROBEX10 last 1010,9 Fertilizers producer Petrokemija (PTKMRA CZ) also came to focus again % daily 0,21% with HRK 1.5 million in turnover while price gained 5.5% to HRK 240.0. % YTD 4,05% Petrokemija was in investors’ focus few months ago, after speculations on Government selling its share of 1.7 million shares (50.6% of capital). Stock Turnov er (HRK m) 14,37 A few days ago Mladen Pejnović, head of the State Office for State Total MCAP (HRK bn) 194,39 Property Management confirmed government’s plans to privatize Source: w w w .zse.hr Petrokemija. Auto-parts producer AD Plastik (ADPLRA CZ) came to focus trading in -4,0% -2,0% 0,0% 2,0% 4,0% 6,0% blocks. The price advanced 1% to HRK 115.99 on HRK 1.3 million in PTKM-R-A ATPL-R-A turnover. AD Plastik currently trades at P/E=7.7, P/S=0.7 and DDJH-R-A P/Bv=0.7. VPIK-R-A LKPC-R-A Tobacco and tourism Adris group preferred share (ADRSPA CZ) was VIRO-R-A KORF-R-A also in investors’ focus with HRK 0.7 million in turnover while price KNZM-R-A slipped 1.3% to HRK 262.20.
    [Show full text]
  • Expat Capital – the Etf Provider for Cee Countries
    Market data as of 21 May 2020 EXPAT CAPITAL – THE ETF PROVIDER FOR CEE COUNTRIES Expat Asset Management has created a family of exchange traded funds (ETFs) covering the equity markets in 11 countries in Central and Eastern Europe (CEE). Expat’s ETF products are unique market propositions providing country-specific exposure in the CEE region to international investors. Chart 1. Expat’s 11 ETFs on the Map of Europe Source: Expat Asset Management Table 1. The List of All ETFs Managed by Expat Asset Management CURRENCY No. COUNTRY FUND NAME INDEX EXPOSURE 1 Poland Expat Poland WIG20 UCITS ETF WIG20 PLN 2 Czech Republic Expat Czech PX UCITS ETF PX CZK 3 Slovakia Expat Slovakia SAX UCITS ETF SAX EUR 4 Hungary Expat Hungary BUX UCITS ETF BUX HUF 5 Slovenia Expat Slovenia SBI TOP UCITS ETF SBI TOP EUR 6 Croatia Expat Croatia CROBEX UCITS ETF CROBEX HRK 7 Serbia Expat Serbia BELEX15 UCITS ETF BELEX15 RSD 8 North Macedonia Expat Macedonia MBI10 UCITS ETF MBI10 MKD 9 Romania Expat Romania BET UCITS ETF BET RON 10 Bulgaria Expat Bulgaria SOFIX UCITS ETF SOFIX BGN 11 Greece Expat Greece ASE UCITS ETF ATHEX Composite EUR Source: Expat Asset Management Expat Capital Bulgaria, Sofia 1000, 96A G. S. Rakovski Str.; +359 2 980 1881; [email protected]; www.expat.bg 1 Market data as of 21 May 2020 Expat’s ETF products are designed to be major highways for capital flows to and from the equity markets of the CEE countries. They link the stock exchanges of those countries with the financial centres of London and Frankfurt, making it easy and cost-effective for international investors to take and liquidate an exposure to the specific countries in the region.
    [Show full text]
  • FIMA Daily Insight
    FIMA Daily Insight IN FOCUS - ZAGREB STOCK EXCHANGE March 16, 2012 Croatian equities recorded an upward movement today; CROBEX ZSE STOCK MARKET gained 0.74% to 1,844.03 pts while blue chip CROBEX10 accelerated CROBEX Last 1.844,0 0.41% to 1,008.60 pts. Total turnover of the day reached HRK 30.4 % daily 0,74% million. % YTD 5,97% Integrated telecom operator HT (HTRA CZ) topped the liquidity board CROBEX10 last 1008,6 as usual with HRK 5.6 million in turnover and increasing 0.49% to HRK % daily 0,41% 216.05. % YTD 3,32% Construction engineering company Ingra (INGRRA CZ) followed Stock Turnov er (HRK m) 30,44 collecting HRK 2.3 million in turnover and advancing 2.9% to HRK 8.40. Total MCAP (HRK bn) 187,00 Frozen foods producer Ledo (LEDORA CZ) came to focus with HRK 2.1 Source: w w w .zse.hr million in turnover while price accelerated 2.33% to HRK 6,049.97. Other companies from Agrokor concern were among better performers today. Agricultural producer Vupik (VPIKRA CZ) and kiosk chain Tisak -10,0% -5,0% 0,0% 5,0% 10,0% 15,0% 20,0% (TISKRA CZ) increased 4.59% and 4.53%, respectively, largest RIVP-R-A domestic retail chain Konzum (KNZMRA CZ) accelerated 5.76% to HRK DLKV-R-A KNZM-R-A 165.99 while food producer Belje (BLJERA CZ) declined 1.98% to HRK LKRI-R-A 89.20. ATPL-R-A INGR-R-A Heavy constructor Viadukt (VDKTRA CZ) rocketed 30.32% to HRK 245 THNK-R-A DDJH-R-A after company informed investors about new contract signed in total PTKM-R-A worth HRK 516 million, related to construction of Zagreb airport.
    [Show full text]
  • Raiffeisen Weekly Report, Nr. 38/2017
    Raiffeisen Weekly Report Number 38 October 16th, 2017 Leaning on exports, the economy is growing Number of overnights stays On Tuesday the national statistical office delivered tourism figures for August (Jan – Aug) which showed expected growth of tourist arrivals and overnight stays (6.1%yoy 80 and 5.4%yoy respectively). The share of foreign tourists in the overnight stays 70 amounted 94.4%. Cumulatively, during the first eight months, the number of over- night stays was 72.5 million (+11.8% more than in the same period last year). 60 For the whole 2016 total number of overnight stays stood at 77.8mn. It is very mn 50 certain that, with data for September, this year will officially be a new record 40 tourist season. Although the strength of tourism helped Croatia remain on the 30 path of 3%yoy real growth, it also increased the sensitivity to potential downturns in tourism. As long as Croatia is perceived as a safe destination, it will retain its 20 attractive destination status. Under such circumstances, the budget picture will 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 look more favourable due to the stronger revenue inflow, especially VAT. Sources: CBS, Economic RESEARCH/RBA On the other side foreign trade activities in terms of import and export of goods remained subdued although the latest data pointed to a slight rise. In the period CPI, PPI, yoy from January to July, foreign trade deficit widened to EUR 4.9bn (+9.3%yoy). In 4 the same period, exports growth at 15.7%yoy compared to imports growth of 2 13.2%yoy resulted in coverage of imports by exports at 61.7% (+1.4pp).
    [Show full text]
  • Pregled Trgovine
    Trading Summary First half of 2017 Zagreb, July 2017. This publication was prepared and published by the Zagreb Stock Exchange Inc., Ivana Lučića 2a/22, Zagreb (hereinafter: Exchange). The publication is intended to provide information to the public and shall not be deemed to constitute an offer or invitation to buy or advice on trade or investment in financial instruments or opinion on the terms of the purchase or sale of any financial instrument mentioned therein whether favourable or not, nor should it be relied on as a substitute for own judgement or assessment by any user of this publication. The Exchange waives responsibility and liability for any damage which might arise out of the use of information contained therein. Further use of information available in this publication is permitted by the Exchange provided that the source is cited. Copyright © 2017. Zagreb Stock Exchange Zagreb Ivana Lučića 2a/22 All rights reserved. Content: 1 TRADING......................................................................................................................... 1 1.1 COMPARISION WITH PREVIOUS HALF .......................................................................................... 1 1.2 COMPARISON WITH PREVIOUS YEAR ........................................................................................... 2 1.3 MONTHLY TRADING OVERVIEW ................................................................................................. 3 1.4 INDICES ...............................................................................................................................
    [Show full text]
  • Market Commentary Portfolio Performance Vs Benchmark
    Feb. FKHR1 Monthly Fund Update 2016 Market Commentary Following the publication of Q4 results, the share price jumped by 7.06% in one day. Viadukt operated with a net profit of HRK 3.2m in After a tumultuous start of the year, February brought on a reversal 2015, but this is still 36% less profit compared to the previous year. of trends in most of our largest holdings. This is in line with the rest Revenue fell by 9.1%, which is the consequence of an overall of European and global markets, which reached a bottom in mid- reduction in total investment in the Republic of Croatia, from which February, only to recover by the end of the month. The Croatian Viadukt achieves 99% of its total revenue. However, the growth in market started this recovery even sooner, having reached its lowest share price after the announcement of financial results might have point during January. However during February, the benchmark been due to the optimistic expectations for the rest of the year. The CROBEX index stayed mostly at the same level from the start of the construction industry expects a slight recovery and increased month, with only slight fluctuations. In the meantime, our fund investment from contracting authorities. managed to achieve a return of almost 4% MoM, beating the A third position that we want to emphasize is Đuro Đaković Holding market by a large margin. (ĐĐ). After having an amazing January, on the 15th and 19th of The most important contributor was our largest holding, the Adris February it was announced that Đuro Đaković signed contracts with Group, with common stock growing by over 10%.
    [Show full text]
  • CEE Investment Opportunities: Slovenia & Croatia Investor
    CEE investment opportunities: Slovenia & Croatia Investor Day Site visits Monday, 23 May 2016 Slovenia: Krka & Gorenje Timetable: 08:00– 17:15 Krka is among the top generic pharmaceutical companies in the world. Its business is the production and sale of prescription pharmaceuticals, non- prescription products and animal health products. 08:00 Departure from Hotel International (Zagreb) 10:00 Krka tour Gorenje is one of the leading European home 11:00 Departure from Krka appliance manufacturers with a history 13:00 Lunch break spanning more than 60 years. Home 14:00 Gorenje tour appliances under global brands Gorenje and 15:00 Departure from Gorenje Asko and six regional brands (Atag, Pelgrim, Upo, Mora, Etna and Körting) elevate the 17:15 Arrival at Hotel International (Zagreb) quality of life of users in 90 countries worldwide. Croatia: Podravka, Ledo & Atlantic Grupa Timetable: 08:00 – 16:45 Podravka produces the well-known Vegeta, as well as thousands of other products in its diverse catalogue. T h e Podravka brands are recognisable and a favourite in both Croatian and foreign markets. 08:00 Departure from Hotel International (Zagreb) 10:00 Podravka tour Ledo is the largest Croatian producer of 11:00 Departure from Podravka industrial-scale ice cream and the largest 13:00 Lunch break distributor of frozen foods. 14:00 Ledo tour Atlantic Grupa is one of the most dynamic 15:00 Departure from Ledo business systems in the region, with a 15:30 Atlantic Grupa tour significant portion of its business activities in 16:30 Departure from Atlantic Grupa the EU. 16:45 Arrival at Hotel International (Zagreb) For further details, please contact your WOOD sales representative or Karolina Drach-Kowalczyk at [email protected] .
    [Show full text]