Daily comment:
Domestic popular benchmark declined 0,8% to 3.512,08 pts while stock turnover amounted HRK 40,2 million. Tanker & dry bulk carrier Tankerska plovidba (TNPL-R-A) topped the liquidity board collecting HRK 11,8 million in turnover. The Co recorded significant profitability increase in second quarter. While sales rose by 5,6% yoy to HRK 282,1 million, operating expenses declined by 9,7% in same period driven with lower raw material and other operating costs. Consequently, EBIT and EBITDA increased yoy by 55,9% and 31,7% respectively. Bottom line result had 66,3% yoy growth to HRK 85,0 milllion, while Q2 EPS amounted to HRK 135,7. TNPL share lost 0,5% to end at HRK 3.150. Coffee and snacks producer Franck (FRNK-R-A) gained 1,4% on HRK 1,5 million in turnover. Franck manage to deliver good results for the 3rd consecutive quarter (4Q 2007, 1Q and 2Q 2008). After 5 years of decreasing and stagnating sales, Co found the way how to improve business. It seems that the management changes introduced last year gave results. In 1H 2008 sales grew 16% driven by both, domestic and foreign. With sales increase in 1H, Co also increased EBIT (51%), and EBITDA (32%). Even more significant is that parallel with EBIT end EBITDA increase, Co recorded growth in profitability margins; EBIT margin grew from 7,7% to 10,1%, EBITDA margin grew from 12,5% to 14,2%. Net income improved 29%. Domestic shipping companies followed a decline in Baltic Dry index as Dubrovnik based Atlantska plovidba (ATPL-R-A) slipped by 2,1%, Pula based Uljanik plovidba (ULPL-R-A) by 3,4%, while Split based Jadroplov (JDPL-RA) lost 4,7% to end at HRK 451.
news flash:
- Recession fears weaken sterling
- Canadian Drilling company Buys U.S. Rival
- Regulator Questions Korean Bank’s Interest in Lehman
- Precision Drilling to buy peer Grey Wolf
CROBEX index - Zagreb Stock exchange -0,8%
change in 2008. -33,0%
CROBEX index - Zagreb Stock exchange (chart)
Avg price change for CROBEX members (chart)
market multiples - shares (tables)
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FIMA FAS Ltd.
42000 Varazdin * Anina 2 * Croatia * Tel: +385-42-390900 * Fax: +385-42-390990 *
http://www.fima.com
e-mail: fima-fortis@fima.com
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stock report20080825.pdf, 107 Kb
