Slovenian Weekly Report 23.10.2017-3.11.2017
- Telekom Slovenije signed the Agreement on Settling Mutual Relations with IZI mobil d.d. The announcement states that from 1st January 2018 the prepaid end-user contracts of IZI mobil as well as the trademarks and signs of IZI mobil goods and services will be transferred to the company Telekom Slovenije. IZI Mobil had in 2016:
- EUR 4.2m of revenues;
- EUR 71 thousand of EBITDA with EUR 0.4m of net loss;
- EUR 0.8m of financial debt;
- 2.6% market share in Active users in mobile telephony (2Q17) and
- 11.9% market share in Prepaid in mobile telephony (2Q17).
- Note Telekom Slovenije had respective share in mentioned segments of 44.9% and 46.9%.
- All in all this acquisition is similar to Debitel acquisition made in 2016; the move will recoup some of the lost market share while positively but only incrementally add to overall operations (cost synergies should elevate incremental EBITDA, but given the smallness of operations versus the Group, the add-on will not be significant).
- Main competitors remain A1 and Telemach, while the new entrant Hot Mobil (Hofer) is on the rise – but its too early to say how much market will it capture.
- On a side macro note: all consumer sentiment indices are increasing in Slovenia with optimism edging higher and higher. Seems households are increasingly willing to spend for durables, real estate etc.
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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