Slovenian Weekly Report 16.7.2018-20.7.2018
KRKA:
- Media articles emerged in Slovenia that Krka could gain due to as some competitors recalled some drugs with valsartan. This recall happened in the US and 22 European states. Krka has this ingredient in a drug that is their 5th top seller. Therefore its speculated they can gain by this, as they have gained additional orders for valsartan tablets. Unfortunately, little is known.
- Please note that a drop of Krka share price on Tuesday was holly due to ex-dividend date (dividend of EUR 2.9).
- Krka will report is 1H18 earnings on Thursday, 26th July. However as some preliminary figures were disclosed at their annual shareholder meeting we cannot expect any surprise. The fact is that 2Q18 was again strong, following 1Q18 tone. Seasonally the weakest 3Q follows.
POLITICS:
- NSi (right wing party) decided for now not to pursue a 6 party coalition formed by right, centre and left parties. Namely they believe the coalition would be unstable and hard to manage (we concur). They have acknowledged however they reached a lot of good compromises in coalition agreement.
- While an option that this move could motivate some parties for right-centre government has some footing, its an unlikely scenario. More likely is a 5 +1 party coalition (minority government with Left providing votes for key projects), albeit this would be a hard task to manage, or even preliminary elections. On the other hand politics is slippery and things can quickly change.
Krka is a public generic pharmaceutical company based in Slovenia. Co. is engaged in the development, production, sale and marketing of human health products (prescription and selfmedication pharmaceuticals and cosmetics), animal health products and health resort and tourist services. Co. focuses on a range of generic prescription pharmaceuticals, which are marketed under Co.'s own brands. Co. offers customers in over 70 countries a broad range of prescription pharmaceuticals, self-medication products and animal health and cosmetic products. Co.'s activities are supplemented by health resort and tourist services of Terme Krka.
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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