Slovenian Weekly Report 12.3.2018-16.3.2018
Prime minister Cerar surprisingly resigned on Wednesday:
As regular elections were already looming (June 2018), we believe this will not derail strong economic trends and sentiment as well as shake up equity market. In addition we could label this coalition as non-reformist, mostly fighting for status quo. In this respect equity markets did not lose anything.
Possible direct consequence comes only to Luka Koper due to further delay of solving railway bottleneck. But the impact of the delay and second tier project on Luka Koper is hard to calculate so most likely reaction will be lighter.
Also this means NLB privatization is on hold (status quo) as well as negotiations regarding wages with the public segment unions.
For bond market we expect little reaction, possibly only for a few days.
On the other hand it will shake politics up, as it will speed up elections and all parties will need to quickly gather pace.
More on page 2.
On 14th March Gorenje informed the public that it reviewed 5 non-binding partnership offers received (additional non-binding bid came from Europe) and invited 3 into the due diligence phase of the process, including access to a Virtual Data Room on Gorenje Group, selected site visits to Gorenje Group facilities and meetings with top management. All 3 are based in Asia, are active in the household appliances industry and have submitted offers to acquire a majority stake (at least 50% +1 shares). The binding bid deadline is set to 8th May 2018.
Gorenje dd is a Slovenia-based company engaged in the production and sale of household appliances. The Company operates through three business segments: Home, producing and selling products and services for home, such as major domestic appliances (MDA), small domestic appliances (SDA), heating, ventilation, air conditioning (HVAC) and kitchen furniture; Ecology, providing ecology-related services; and Other, with such activities as tool-making, engineering, hotels and hospitality services, trade, and design services. The Company covers the global markets with a portfolio of ten brands: Gorenje, Gorenje+, Korting, Sidex, Mora, Atag, Etna, Pelgrim, Asko and Upo. As of December 31, 2011, the Company was the parent company of the Gorenje Group, which consisted of numerous companies in such countries as Slovenia, Austria, Germany, Italy, France, Spain, the United Kingdom, Denmark, Sweden,, Norway, the Czech Republic, Slovakia, Hungary, Poland, Bulgaria and Croatia, among others.
Luka Koper dd is a Slovenia-based company engaged in the provision of port and logistics services in the Port of Koper. The Company provides basic port services, such as sorting, palletising, sampling, protection, labelling, weighing, cleaning and other services; management of the economic zone; supporting services; cargo handling; warehousing, and integrated logistics solutions. Through its terminals, the Company handles general cargo, containers, vehicles, dry bulk cargo, liquid bulk cargo, cereals and fodder, livestock, minerals, timber, fruit, alumina, minerals and energy. The Company also offers terminals for cars, containers and roll on-roll off services. Additionally, the Company is engaged in hotel and catering services, as well as waste collection and recycling. As of December 31, 2011, the Company's subsidiaries included Luka Koper Pristan doo, Luka Koper INPO doo, Adria Terminali doo, TOC doo and Luka Koper Deutschland GmbH, as well as several associated companies.
Petrol Ljubljana. Petrol dd Ljubljana is a Slovenia-based company engaged in the provision of oil and other energy products. The Company operates through two segments, Oil and Merchandise sales and Energy activities. The Oil and Merchandise sales segment consists of sale of oil and petroleum products, and sale of supplementary merchandise comprised of automotive products, foodstuffs, accessories, tobacco, lottery products, coupons and cards. The Energy activities segment consists of sale and distribution of gas; generation, sale and distribution of electricity and heat; energy consumption projects and comprehensive energy supply projects, and environment activities. As of December 31, 2011, it operated a number of subsidiaries based in Slovenia, Austria, Bosnia and Herzegovina, Croatia, Serbia, Montenegro and Macedonia, among others. On February 11, 2013, the Company acquired a 51% stake in Instalacija doo. On May 10, 2013, the Company acquired a 100% stake in Nafta Geoterm doo.
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Company's activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Company's non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.
Telekom Slovenije dd is a Slovenia-based company engaged in the provision of telecommunication services. The Company provides fixed and mobile communications, system integration and cloud computing, construction and maintenance of telecommunication networks, digital content and services, multimedia, digital advertising. It operates under the brands Mobitel and SiOL. The Company's services and products include business bundles, Centreks, Moneta, M vrata, among others. The Company is active in Slovenia, Kosovo, Macedonia, Bosnia and Herzegovina, Croatia, Montenegro and Gibraltar. On November 6, 2013, the Company concluded the transaction of transferring a 100% stake in the capital of PRIMO Communications SHPK to AD-Trade SHPK, Albania. The Company's major shareholder is Slovenska odskodninska druzba dd with a stake of 72.75%.
ALTA Invest, investicijske storitve, d.d., (ALTA Invest, investment services, Inc.) is a part of ALTA Group, the biggest financial non-banking group in Slovenia. ALTA Invest has around 28% market share on the domestic Ljubljana Stock Exchange and has more than EUR 95m of assets under management.
Our trading advantage is our execution of large trading blocks with low impact on the market. We offer trading on several platforms on numerous markets, with a wide variety of financial instruments. Our advantage is also a research department, which is both sell side and buy side and has the far most extensive and regular coverage of domestic companies. We cover 9 companies on Ljubljana Stock Exchange, which is around 90% of Mcap on LJSE – and here we are practically the only local broker providing this kind of extensive and regular coverage for Slovenian companies.
A part of ALTA Group are ALTA Skladi, a mutual fund asset management company with roughly EUR 260m of asset under management. ALTA Group is also extensively involved in corporate finance projects and raised considerable assets (fixed income and equity) in the last two years for several companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.