BDD Wise broker

Founded in 2000, WISE Broker was one of the pioneers in the evolution of the Serbian financial market. Today, we are one of the leading brokerage institutions in Republic of Serbia.

Broker-dealer company Wise broker a.d. Belgrade has been incorporated in 2000 under the name of Senzal. In 2007, we became a member of KBC Group headquartered in Brussels when we changed our name into BDD KBC Securities a.d. Belgrade. Since July 2011, we have continued our activity as an independent investment company, providing financial services as WISE Broker .

Our team members have consistently taken leading positions in the most prominent investor surveys and provide the full range of investment services including trading, equity sales, market research, equity capital markets and corporate advisory. Strong sales and trading capabilities and global practices provide our clients with institutional and retail brokerage services. Our trading experts work closely with a range of investors from pension funds to hedge funds, providing an unparalleled view on the market. Global reach and sector specialists keep our clients well informed with unique access to information flows and perspectives. Longstanding ties with corporates allow us to offer insight and a high level of exposure to top company managements. We specialize in strategic and financial advice together with capital raising solutions for both private and listed companies. By growing partnerships, and working with these companies at all stages of their development, we’re able to help structure and execute the widest range of corporate finance solutions. WISEBroker equity research department provide insightful, objective and decisive research, designed to enable informed investment decisions. It is our task to understand industry dynamics, companies, their business segments and competitive position as to create valuable investment guidance.

Vladan Pavlovic
  • Vladan Pavlovic

Petroleum Industry of Serbia NIS (NIIS)

Petroleum Industry of Serbia (NIIS), which is majority owned by Russia's Gazprom Neft, reported 161% rise in nine-month net profit (to RSD 20.1bn from RSD 7.7bn in the same period last year), helped by an increase in sales an improved FX result and higher EBITDA. The company said in a statement that earnings before interest, tax, depreciation and amortization (EBIDTA) jumped 53% to RSD 34.3bn from RSD 22.5bn in the same period last year due to higher crude oil prices and effects of the operation...

Vladan Pavlovic
  • Vladan Pavlovic

Komercijalna banka (KMBN)

Belgrade based Komercijalna Banka (KMBN) reported huge RSD 5.69bn in its 9M17 pre-tax profit, which is much better versus RSD 1.7bn loss from 9M16, while only 3Q17 pre-tax profit arrived at RSD 1.27bn (versus RSD 2.6bn loss from 2Q16). Reason for such dramatic improvement at both 9M and 3Q level is an absence of high net provisioning and appearance of smaller amount of recoveries (RSD 10.4m in 3Q). The bank’s 9M17 net profit is at RSD 6.9bn, due to RSD 1.2bn gain on deferred tax assets, from 2Q....

Vladan Pavlovic
  • Vladan Pavlovic

Messer Tehnogas (TGAS)

Messer Tehnogas (TGAS) reported RSD 1bn in consolidated net profit for 1H 2017, up 18.4% versus 1H 2016, on higher revenues and higher operating profit. The company’s consolidated operating sales for the period arrived at RSD 4.3bn, up 6.6% y/y, at first place due to growth at domestic market, since export accounted only 11.5% of total sales, (while growth was at 39%). Operating profit arrived at RSD 1.2bn, up 23.4% y/y, since operating margin was up from 23.8% to current 27.6%. Cash position re...

Vladan Pavlovic
  • Vladan Pavlovic

Energoprojekt Holding (ENHL)

Energoprojekt Holding (ENHL) reported RSD 723.9m in consolidated net profit for 1H17, up 93.6% y/y on higher sales and improved profitability. The company’s consolidated revenues arrived at RSD 17.5bn, up 20% y/y, while over 64% is from foreign projects. Operating profit in the period arrived at RSD 807.2m, up 2.6 times versus a year ago on much better profitability. The company’s backlog now stands at EUR 356m, while for this year EUR 296m was planned to be contracted (18% achievement in 1H17)....

Vladan Pavlovic
  • Vladan Pavlovic

Belgrade Airport (AERO)

The Belgrade Airport (AERO) reported RSD 1.39bn (EUR 11.5m) in its 1H 2017 net profit, flat y/y. Total revenues amounted to RSD 4.42bn, with operating revenues standing at RSD 4.33bn, up 10.5% y/y, mainly in line with expansion in volume of traffic (passengers & cargo turnover). Operating profit in the period amounted to RSD 1.75bn, up 14.4% y/y, since operating margin was up to 40.5% vs. 39% from 1H 2016. This time, the company booked RSD 114.3m in other loss, which prevented expansion at net p...

Vladan Pavlovic
  • Vladan Pavlovic

Serbian Macro Overview 1H2017

According to a flash estimate released on May 4th by the Statistical Office, GDP grew 1.0% in 1Q over the same quarter last year. The figure marked a significant deceleration from the 2.5% increase recorded in 4Q 2016. Serbia's central bank, NBS, expects the country's economy to grow by 3.0% in 2017 on the back of labor market recovery. Economic growth is expected to accelerate to 3.5% in 2018, as structural reforms implemented by the government and improvement in business climate are encouragin...

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