Report
Tina Orzan

Slovenian Weekly Regional Overview 31.12.2018 - 4.1.2019

Trading in 2018:
The value of the LJSE index increased for the third year in a row and exceeded 900 points for the first time in 8 years. The SBITOP index ended the year valued at 805.06 points. The month with the most trades was May due to the acquisition of Gorenje. A fall increase in interest for Slovenian shares was due to the first listing of a new share after more than 10 years. Those were shares of Nova Ljubljanska banka. In 2018 the most traded shares were shares of Krka, with which 25.6% of total turnover generated on the regular market was generated. Second place went to Cinkarna Celje with 16.7%, followed by Zavarovalnica Triglav with 12.8%.
Intereuropa:
For 2019 the Group plans to achieve sales revenue of EUR 168.5m and EBITDA of EUR 13.2m. Investments are planned in the amount of EUR 5.9m. The Group is planning 1,380 employees at the end of 2019. Intereuropa will carry out sales activities with the aim of strengthening the market position. Another important element of the plan is the sale of real estate that is not used in the performance of the logistics activity, and thus the continued deleveraging of the Group.
Unior:
Unior published the strategic business plan for the period from 2018 to 2022. For 2022 the Group plans to generate sales of EUR 286.3m, up by 19.8% compared to 2017. EBITDA is planned at EUR 38m, up by 16.5% from 2017. Throughout the period the Group will reduce its financial debt by significantly reducing the net financial debt/EBITDA ratio from 3.47 in 2017 to 1.75 in 2022.

Underlyings
Intereuropa

Intereuropa dd is a Slovenia-based company engaged in the provision of logistic services. The Company provides its services in three divisions: Land Transport, covering groupage, express transport, road transport, railway transport, customs services and distribution of spare parts; Intercontinental transport, including air transport, sea freight, shipping agency and automobile logistics; and Logistics solutions division, involved in the storage, distribution and logistics projects. As of December 31, 2011, the Company operated through 16 subsidiaries and one joint venture in such countries as Slovenia, Croatia, Bosnia and Herzegovina, Macedonia, Serbia, Kosovo, the Russian Federation, Ukraine, Montenegro, Albania, Germany and France.

Salus Ljubljana

Salus Ljubljana dd is a Slovenia-based company engaged in the wholesale and distribution of medical products. The Company's portfolio includes pharmaceuticals, medical devices, medical supplies, food supplements, cosmetic products and other health products. The Company's core clients are pharmacies, hospitals and health centers from both Slovenia and abroad. Moreover, Salus Ljubljana dd offers the products to its business partners through the Internet store. The Company also provides additional services related to the registration of medicines and the distribution and storage of pharmaceuticals and other medical products.

Telekom Slovenije

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%.

UNIOR dd

Unior dd is a Slovenia-based company active in the industrial equipment sector. Its business is divided into five sectors: Forging, producing forgings for automotive, automotive chassis support parts, shafts for automotive engines, elements for drive-shafts and parts for transmission; Sinter, producing parts of steering mechanism for cars, metal marts for building hardware, sildes, rotors and housing for oil pumps, slide bearings and bushes, gears, sprocket wheels, pulleys, roads and flanges; Hand tools, offering wrenches, pliers, cutters, screwdrivers and bits, and hammers; Special machines , providing processing, facing, drilling and rotary indexing table machines; and Tourism managing tourist resorts in Rogla nad Zrece. As of December 31, 2011, the Company operated 20 subsidiaries and 12 affiliates worldwide.

Provider
Alta Invest
Alta Invest

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.

Analysts
Tina Orzan

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