reports
- Tina Orzan
Slovenian Weekly Regional Overview 21.1.2019 - 25.1.2019
Luka Koper: According to the President of the Management Board of Luka Koper, Dimitrij Zadel, the company needs a second tier between DivaÄa and Koper, and in addition, a lot of investments have already begun so that they can follow the growth of cargo. This week the government confirmed the investment program for the second tier, the construction of which is estimated at EUR 1.2bn. The project is supposed to be paid by user charges. Namely, since January, the state has already started to c...
- Tina Orzan
Slovenian Weekly Regional Overview 17.12.2018 - 21.12.2018
This week was marked by publications of the business plans for 2019 and estimatedbusiness performance for 2018. Among them were Luka Koper, Zavarovalnica, Triglav,Mercator, Unior and Salus. More details on page 2.Luka Koper:Results for 2018 will be mainly in line with our expectations, while 2019 projectionsare below our estimates. EBITDA is therefore 5% below our plans, EBIT 7% and netincome 10% below our plans. Margins in 2019 will therefore fall to 5-year low. Afterattaining all the necessary...
- Sašo Stanovnik
Slovenian Weekly Regional Overview 26.11.2018 - 30.11.2018
MERCATOR 9M18:Mercator Group reported revenues of EUR 1,617m for 9M18, up 1.6% YoY, Revenue from retail is up by 5.4% YoY. EBITDA amounted to EUR 86.8m, up 24.7% YoY to EUR 86.8m. CAPEX for the period amounted to EUR 19.1m. Profit of EUR 8.9m was achieved in 9M18 vs loss of 10.5m in 9M17. Net financial debt lowered by 11% to EUR 738.3m with equity at EUR 492.3m. ECONOMY:Statisti office published GDP numbers for 3Q18 – detailed data on page 4. In 3Q18 Slovenian GDP increased by 4.8% YoY vs last ...
- Sašo Stanovnik
Slovenian Weekly Report 21.5.2018-25.5.2018
Generali CEE Holding bought 100% stake in Adriatic Slovenica for EUR 245m. Adriatic Slovenica is the 3rd biggest insurance group in Slovenia, behind Triglav and Sava RE, having 14.0% market share. It also has EUR 531.6m of AuM (mutual funds) or 20% of AuM industry in Slovenia. Detailed comparison on page 2. On one hand this could stir the market and key competitors, Sava RE and Triglav, as Generali will become more important player on insurance and asset management market in Slovenia. Gene...
- Sašo Stanovnik
Slovenian Weekly Report 7.5.2018-11.5.2018
SAVA RE & ZAVAROVALNICA TRIGLAV: On Page 2 and 3 we are outlining key data from Zavarovalnica Triglav and Pozavarovalnica Sava Solvency and Financial Condition report. Triglav Solvency II ratio is at 222, Sava RE Solvency II ratio is at 283%. Consequently both insurance groups have a very strong Solvency II positions. The news also reaffirms our positive outlook on both companies. LUKA KOPER: There was a repeat of the referendum about second railway tier (DivaÄa-Koper) legislature, ...
- Sašo Stanovnik
Slovenian Weekly Report 23.4.2018-4.5.2018
ZAVAROVALNICA TRIGLAV: Zavarovalnica Triglav also embarked on SouthEast European M&A expansion, as its subsidiary managing international markets, Triglav INT, bought a majority 75% stake (minus one share) in the Croatian pension insurance company Raiffeisen Mirovinsko osiguravajuÄe društvo from Raiffaisen Bank. The later will still own 25% plus one share after the transaction. The deal must now be signed off by regulators. This move is in line with Triglav strategy to increase its SEE pres...
- Sašo Stanovnik
Slovenian Weekly Report 2.4.2018-6.4.2018
2017 and 4Q17 results season is slowly coming to an end, albeit some companies like Luka Koper and Mercator are scheduled to provide results only at very end of April. Nevertheless we can conclude that 2017 was a good year for Slovene blue chip companies, providing a hefty profit growth and most delivering a profit beat.In addition dividend season has started and first proposals are good. Petrol surprised on the upside, Sava Re‘s in-line, while Telekom surge is not as we could hope for, but stil...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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