Belgrade Airport (AERO)
​Belgrade Airport (AERO) reported RSD 2.4bn in 9M 2016 profit, up 13.3% y/y, on lower tax expenses, while pre-tax profit for 9M16 is actually down 5.7% y/y on higher negative other result, which was partly influenced by smaller amount of write-offs (RSD 204.1m). The company’s sales came in at RSD 6.5bn, up 4.5% y/y, while operating profit was down 4.5%, on lower margin, which, however, is still huge. Namely, operating profit margin in 9M16 is down to 45%, versus 49.3% from 9M15, mainly on higher cost of salaries. For the quarterly basis, there was a 1.2bn in pre-tax profit, up 140% y/y, on lower write-offs and higher sales and operating profit.
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.
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