SLOVENIA
SBITOP ends Wednesday 0.1 percent higher
Slovenian blue-chip index SBITOP moved upwards to 822pts, gaining minor 0.1 percent. The most traded names were Salus and Krka, since they delivered EUR 510 and 280ths EUR in volume. Krka added 0.7%, while Salus was down 0.97%. Top gainer was Slovenian Telekom, with 1.23% jump.
Slovenia producer prices up 2.1% along with record high industrial output growth
Slovenia’s producer prices increased 2.1 percent year-on-year in February 2018, slightly below a 2.2 percent rise in the previous month. It is the lowest producer inflation since March 2017 as prices went up at a slower pace for manufacturing (2.1 percent compared to 2.5 percent) and declined more for water supply (-4.9 percent from -3.4 percent). On the other hand, prices rose 2 percent for mining and quarrying, the same as in January and cost rebounded for electricity, gas, steam and air conditioning (2 percent compared to -3.4 percent). On a monthly basis, producer prices went up 0.2 percent. Industrial production in Slovenia went up 12.7 percent year-on-year in January 2018, following a 12.2 percent increase in December 2017. It is the highest gain in industrial output since at least 1999, boosted by a faster increase in manufacturing (14.2 percent compared to 13.3 percent in December).
Source: TE
SERBIA
High export growth in last quarter of 2017 in Germany
Exports in Germany increased by 8.7 percent in October, 8 percent in November and 3.9 percent in December, while in January 2018 it increased by 8.6 percent compared to the same month last year. These levels of growth in German exports should be seen in top line of German companies.
Slower expansion rates in Europe
The IHS Markit Eurozone Composite PMI declined to 55.3 in March from 57.1 in February, below market expectations of 56.7.
Galenika Fitofarmacija FY 2017 update
Galenika Fitofarmacija (FITO), plant protection application manufacturer, reported RSD 754.1m in its FY 2017 net profit, down 16.3% y/y on higher tax and solid FX loss. Even though consensus do not exists, we believe this was lower than overly expected. The company spent all of its tax credit in 2016 and 2015, thus tax reliefs were not possible in 2017, which resulted in a higher tax amount. Other negative factor that impacted net line was FX loss which emerged on the back of RSD appreciation against EUR and USD, which resulted in a lower value of FX denominated receivables and deposits. Operating profit in the period was at RSD 1bn, flat y/y, while sales arrived at RSD 3.96bn, up only 1.6% y/y. Symbolic growth in sales was due to the fact that second half of the year brought very drought season thus farmers had no need to treat crops, almost at all. Export, which has just started into EU countries was only symbolic at EUR 170ths. Export of frozen products, was lowered to RSD 89m, due to drop in prices, while revenues from grains were at typical RSD 252m.
Telenor sells CEE assets, including Serbian company
Telenor has sold its assets in Central and Eastern Europe (CEE) to PPF Group for EUR 2.8 billion, the company has announced. The transaction includes Telenor’s wholly-owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation, a statement said. The CEE operations contributed approximately nine percent of Telenor Group’s revenues and eight percent of EBITDA in 2017, and have more than 9 million customers and around 3,500 employees, the company added.
Izvor: b92
AERO: Agreement on concession of the Nikola Tesla Airport to be signed today
The agreement on the concession of the Belgrade Nikola Tesla Airport (AERO) will be signed with the French company Vinci Airports today, on March 22, 2018, Tanjug learns. The Government of Serbia gave the concession to Vinci Airports, the winner at the tender. The French company offered EUR 501 million for 25 years, with an investment obligation of EUR 732 million, whereas the annual concession fee will be 5 to 16 million euros.
Source: Ekapija
MTLC: Metalac scheduled GA for 26th April
Metalac (MTLC), kitchenware manufacturer, reported that it scheduled annual GA for 26th April, this year. GA is expected to adopt consolidated financial statements for FY 2017, (still not published), as well as to adopted cash dividend proposal and own shares buyback decision.
Source: Belex Ilirika
