Daily news - 15.11.2018
Published: 15. 11. 2018

SLOVENIA

Insurer Triglav reports 12% higher Q3 profit

Triglav Group, Slovenia's leading insurance group, reported a net profit of EUR 58.8m for the first three quarters of the year, up 12% on the same period a year ago. Consolidated gross written premium rose by 6% to EUR 820.2m.
Source: STA

NLB debuts on stock market at 10% above IPO price

NLB bank attracted significant investor interest as it made its debut on the Ljubljana and London stock exchanges on Wednesday, closing a tenth above the price in the recently completed initial public offering.
Source: STA

INTERNATIONAL MARKETS

S&P 500 falls for a fifth straight day as Apple and bank shares struggle; European stocks close lower; UK looks for unity on Brexit divorce draft

Stocks fell on Wednesday as shares of Apple rolled over and dipped briefly into a bear market before recovering. A decline in bank shares also pressured the broader market. The S&P 500 closed down 0.8 percent, clinching its fifth straight day of losses. It's now in the red for the month of November following October's 7 percent rout. The Dow Jones Industrial Average finished 206 points lower on Wednesday. The Dow fell more than 400 points from its highs of the day. The Nasdaq Composite pulled back 0.9 percent. Apple fell 2.8 percent and briefly traded 20 percent below its all-time high, dipping into a bear market. The decline comes after Guggenheim downgraded the stock and UBS cut its iPhone estimates. Investors have been worried the company's iPhone sales will slow down in the near future. European stocks moved lower Wednesday afternoon, checked by a reversal of momentum in the United States. By late-afternoon, the pan-European Stoxx 600 was down 0.54 percent with all major country indexes in negative territory. On the earnings front, Danish shipping group A.P. Moller-Maersk beat third-quarter operating profit forecasts on Wednesday, but said a trade war between the United States and China had hit demand for container shipping. Shares in the company were down around 0.25 percent. In data, key German gross domestic product (GDP) growth figures confirmed a slowdown in the country's economy during the third quarter. Germany's crucial auto sector is struggling under the weight of trade war threats. Dented by weaker export numbers, Europe's largest economy shrank by 0.2% between July and September
Source: CNBC

SERBIA

ENHL: Energoprojekt contracted EUR 135m in this year, out of EUR 298m planned

Construction company Energoprojekt (ENHL) reported EUR 135m of newly contracted jobs in 2018, while total planed amount is EUR 298. Given the fact that 135m is related to 9 months of the year, the company can hardly achieve planned amount of new jobs for 2018, without some huge project in 4Q18. According to the same report, the company’ backlog at the moment is at EUR 352m, out of which EUR 219m is from abroad. Quarterly report was related to operations of parent company, without consolidation, and it is less important for evaluation the company’s operations.
Source: Belex, Ilirika

NIIS: NIS reported RSD 21.7bn in its 9M18 net profit, up 8% y/y

NIS (NIIS) reported net profit generated in the 9 months of 2018 at RSD 21.7 billion, up 8% than Net profit generated a year ago. Growth has been accomplished also in terms of EBITDA indicator (Earnings before Interest, Taxation, Depreciation & Amortisation), which is RSD 42 billion, i.e. 23 per cent more than in the same period last year. The volume of oil refining and semi-products in the 9 months this year was 2,769 million tons, 6 per cent more than in the same period previous year. The overall volume of oil products sales is 2,741 million tons, which is 10 per cent better result compared to 9 months 2017. In 2018, NIS also posted a growth in oil products exports of as many as 20 per cent compared to previous year.
Source: NIS, Ilirika

MTLC: Metalac reports slightly improved performances of daughter units for 9M18

Metalac (MTLC) reported only non-consolidated number for 9M18 period, where we can see that performances of daughter units were slightly better vs. a year ago, in terms of revenue size and profit level. Major production unit, Cookware, reported RSD 2.36bn in its sales, up 3.5% y/y, while its net profit was flat at RSD 233m. Russian unit, Metrot however faced over 10% drop in sales, probably due to unfavorable FX rate, while its net result was negative.
Source: Belex, Ilirika