Slovenian Weekly Regional Overview 3.9.2017 - 7.9.2017
INTEREUROPA:
Newspaper Finance reported that 11 companies/funds are interested for Intereuropa, among others Pošta Slovenije (domestic postal company), SHS Aviation, Netlog Logistics etc. Non-binding bids are being gathered by the end of September which would imply the SPA could close at end year on in the beginning of 2019. True, since there is a government change, which leans to the left, risk for the transaction to succeed linger. On the other hand environment remains favorable, while results for 1H18 are also supportive.
RESULTS:
Pharma Wholesaler Salus Group reported net sales of EUR 128.0m in 1H18 or up by 12.9% YoY. Respective EBIT and profit levels were at EUR 2.3m and EUR 2.5m or up by 14.4% and 15.0% YoY. Equity stands at EUR 48.7m. Please note these figures still do not include Sanolabor, a company that was recently acquired.
In 1H18 Mercator Group generated revenues in the amount of EUR 1,057m, which is 0.8% more YoY. The increase in revenues is a consequence of the new strategy, new store concept, store refurbishments and improved competitiveness. Revenues in the core activity of retail (78.7% share in revenues) grew by 6.6%. Sales in Slovenia, which represent 56.2% of total sales, increased by 0.8%. Normalized EBITDA increased by 14.6% YoY to EUR 48.1m. EBIT more than doubled compared to 1H17 and stood at EUR 16.9m. Net income amounted to EUR 1.5m. Financial debt amounted to EUR 771.1m, EUR 80.8m less compared to 1H17.
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 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.
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.
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