FIMA Daily Insight

Friday, March 06, 2015

Croatia

Croatian equities closed higher on Friday with both indices increasing; CROBEX increased ZAGREB STOCK EXCHANGE 0.63% to 1,755.79 pts and blue chip CROBEX 10 advanced 0.77% to 1,025.21 pts. CROBEX Last 1.755,79 Regular stock turnover amounted to HRK 14.2 million. (Positive) daily 0,63 Integrated telecom operator HT (HTRA CZ) topped the liquidity board collecting HRK 5.4 YTD 0,59% million in turnover and increasing 1.52% to HRK 166.50. CROBEX10 Last 1.025,21 daily 0,77 Croatia's industrial output fell 5% on the year in January after increasing by an annual 5.3% a month earlier, the State Statistics Bureau said on Thursday. Month-on-month, YTD 1,79% industrial output was down 4% in January. (Negative) Stock Turnover (EUR m) 1,77 MkCap(%of GDP) 56,91% Valamar Riviera announced that from March 2th to March 4th has acquired treasury Source:www.zse.hr shares. After this acquisition the Company holds a total of 624.771 treasury shares representing 0,4957% of the share capital. (Positive)

LJUBLJANA STOCK EXCHANGE Slovenia SBI TOP Last 796,37 Binding bids in a privatisation tender for Slovenian aircraft maintenance firm Adria Airways daily -0,25% Tehnika should be sent by March 20, one of the company's co-owners, the airport operator YTD 1,56% Aerodrom Ljubljana [LJE:AELG], confirmed on Thursday. (Positive) Stock Turnover (EUR m) 1,04 Slovenian logistics company Intereuropa [LJE:IEKG] said on Thursday its consolidated net MkCap(%of GDP) 50,95% profit plunged to 329,000 euro in 2014 from 2.1 million euro a year earlier. EBITDA fell Source:www.ljse.si 14% to 11.8 million euro in 2014, while operating profit declined by an annual 5% to 5.1 million euro, Intereuropa said in a bourse filing. Intereuropa’s consolidated sales declined 13% to 140.8 million euro in 2014. Investments in fixed assets in 2014 at the group level BELGRADE STOCK EXCHANGE totalled 2.45 million euro. (Negative) BELEX15 Last 665,09 daily -0,24% Serbia YTD -0,29% Serbian energy minister Aleksandar Antic said on Thursday he expects that a financial BELEXline Last 1.354,83 adviser would be selected this year for gas monopoly Srbijagas restructuring. (Positive) daily -0,18% Serbia sold on Thursday 639.8 million dinars ($5.8 million/5.3 million euro) in six-month YTD 0,74% T-bills, equal to 21.33% of its offer, the finance ministry's public debt administration said. Stock Turnover (EUR m) 0,17 The government paper will mature on September 3, 2015. (Neutral)

MkCap(%of GDP) 23,69% Serbian oil and gas company NIS [BEL:NIIS] said on Thursday its consolidated net profit Source:www.belex.rs fell 42% to 27.8 billion dinars ($254 million/230 million euro) in 2014 as its business was affected by low oil prices and the strengthening of the US dollar. CEO, Kiril Kravčenko said that investments in 2014 amounted to RSD 40 bln and were lower than previous years. BUCHAREST STOCK EXCHANGE CAPEX in 2015 will amount RSD 25 bln. In modernization of Pancevo refinery will invest BET Last 7.179,96 USD 300 mln this year. (Negative) daily -0,29% YTD 1,37% Romania BET BK Last 1.358,37 Net investments in Romania's economy fell by 3.1% to 65.6 billion lei ($16.3 billion/14.7 daily -0,03% billion euro) in current prices last year, the country's statistics board, INS, said on YTD 3,83% Thursday. In the fourth quarter alone, net investments in Romania's economy grew by 3% BET TR Last 7.840,78 on the year. (Neutral) daily -0,29% Nearly 415,600 shares of Romanian bank BRD [BSE:BRD], equivalent to a 0.06% stake, YTD 1,37% changed hands for 4.05 million lei ($1 million/0.9 million euro) on the Bucharest bourse on Stock Turnover (EUR m) 5,91 Thursday, stock exchange data showed. The shares were traded in five block deals at an average price of 9.7450 lei each, Bucharest Stock Exchange data indicated. (Positive) MkCap(%of GDP) 21,47% Source:www.bvb.ro Romania on Thursday sold out its 300 million lei ($74.6 million/67.5 million euro) offer of ten-year Treasury notes due on June 11, 2021, the central bank said. (Neutral)

CRH's takeover of the Romanian assets of cement manufacturer Lafarge will not entail restructuring, Lafarge Romania CEO Costin Borc said Thursday. (Neutral)

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FIMA Daily Insight

Friday, March 06, 2015

TOP 5 Companies ZAGREB STOCK EXCHANGE 05 March 2015 turnover (HRK) by price - Gainers (CROBEX) by price - Decliners (C(CROBEX)

Symbol Price Volume (mln) Change Symbol Price Change Symbol Price Change HT-R-A 166,50 5,44 1,552%2% PTKM-R-A 20,39 4,30% JDPL-R-A 90,00 -2,17% ATGR-R-A 928,80 3,43 1,118%8% LEDO-R-A 7.875,00 2,07% RIZO-R-A 101,60 -1,84% ADRS-P-A 358,00 1,05 0,555%5% VART-R-1 21,40 1,90% ARNT-R-A 321,05 -1,18% SUNH-R-A 26,00 0,82 10,64%64% ULPL-R-A 149,98 1,73% LKRI-R-A 66,01 -1,03% ADRS-R-A 400,00 0,48 -2,444%4% HT-R-A 166,50 1,52% ATPL-R-A 263,00 -0,60%

TOP 3 Commppanies LJLJUBLJLJANA STOCK EXCHANGE 05 March 2015 turnover (EUR) by price - Gainers by price - Decliners

Symbol Price Volume (000) Change Symbol Price Change Symbol Price Change KRKG 59,85 345 -1,007%7% ITBG 1,00 58,73% NALN 18,00 -5,26% TLSG 145,00 212 0,669%9% GRVG 5,25 2,92% CICG 172,50 -1,60% PETG 278,00 135 -0,771%1% APAG 50,00 2,04% KRKG 59,85 -1,07%

TOP 3 Commppanies BELGRADE STOCK EXCHANGE 05 March 2015 turnover (RSD) by price - Gainers by price - Decliners

Symbol Price (RSD) Volume (000) Change Symbol Price Change Symbol Price Change NIIS 700,00 9.715 0,114%4% BMBI 56.000,00 1,82% MTLC 2.061,00 -3,24% KMBN 2.200,00 5.520 0,000%0% GMON 2.000,00 0,50% AERO 993,00 -1,59% AERO 993,00 908 -1,559%9% ENHL 999,00 0,40% JMBN 4.330,00 -0,02%

TOP 3 Commppanies BUCHAREST STOCK EXCHANGE 05 March 2015 turnover (RON) by price - Gainers by price - Decliners

Symbol Price (RON) Volume (000) Change Symbol Price Change Symbol Price Change FP 0,9 3.929 0,006%6% SOCP 0,234 13,04% TUFE 0,1623 -5,64% SNG 33,7 2.170 0,115%5% ALU 1,0 6,68% RMAH 0,24 -4,00% TGN 272,5 2.158 0,118%8% UAM 0,960 3,17% VESY 0,045 -2,17%

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FIMA Daily Insight

Friday, March 06, 2015

GDP Unemployment & CPI

4,00 25,00 3,00 20,00 2,00 1,00 15,00 % 0,00 % 10,00 -1,00 5,00 -2,00 -3,00 0,00 -4,00 -5,00 Croatia Slovenia Serbia Romania Croatia Slovenia Serbia Romania Unemployment November 2014 CPI December 2014 m/m 2013 1Q14 2Q14 3Q14 2014e 2015e

Long-term credit Croatia Slovenia Serbia Romania rating

Fitch BB BBB+ B+ BBB-

Standard&Poors BB A- BB- BBB-

Moody's Ba1 Ba1 B1 Baa3

Exchange rates

FX RATE HRK per EUR 0,1306

FX RATE RSD per EUR 0,0086

FX RATE RON per EUR 0,2300

FX RATE EUR per USD 1,3400

Investme nt stories

Hotel Impe rial (HIMR-R-A) - privatization process in final stage

Telekom Slovenije (TLSG) - privatization process in second stage

Corporate events

31.03.2015 Atlantic Group (ATGR) – audited annual report 2014

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FIMA Daily Insight

Friday, March 06, 2015

CONTACTS FOR INSTITUTIONAL INVESTORS IRENA IVANKOVIĆ [email protected] +385 42 66 09 64 DARKO HORVAT [email protected] +385 42 66 09 05 TRADING DEPARTMENT: [email protected] +385 42 66 09 60 RESEARCH DEPARTMENT: ANDREJA ŽUPANIĆ [email protected] +385 42 66 09 75

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