Daily comment:
Zagreb Stock Exchange’s official index, CROBEX, gained 0,6% while stock turnover amounted to HRK 48,4 million. Heavy constructor and power trunk producer Dalekovod (DLKV-R-A) gained 2% to close at HRK 816,99 collecting HRK 0,9 million in turnover after the company confirmed that it has won a contract for electrification and equipping of 2nd tube of Mala Kapela and Sveti Rok tunnels. The value of contract is HRK 390 million and it is planned to be finished by summer, 2009. Combined Dalekovod’s order book inflow in 2007 and 2008 is currently at HRK 4,65 bn (only large contracts are included into this calculation). The market currently values Dalekovod at P/order book inflow of 0,4. Except for Institut građevinarstva Hrvatske (IGH-R-A) which dropped 0,1%, other companies from construction sector recorded positive movement with construction engineering company Ingra (INGR-R-A) gaining 2,2%, civil engineering company Viadukt (VDKT-R-A) soared by 4,9%, while civil engineering company Hidroelektra niskogradnja (HDEL-R-A) remained unchanged. Kutina based fertilizer producer Petrokemija (PTKM-R-A) topped the liquidity board collecting HRK 23,9 million in turnover which is almost a half of today’s stock turnover. This year the company registered jump in sales and profits, driven with upraised prices of its products (twice this year). Q2 sales increased by 63,4% to HRK 819,5 million, as domestic and foreign sales gave their contribution to this growth. Operating income rocketed from 1,2 m HRK in Q2 2007 up to HRK 69,3 million and corresponsive margin amounted to 8,5%. EBITDA increased by 258,9% yoy to HRK 94,3 million and EBITDA margin more than doubled to 11,5%. Net income amounted to HRK 69,4 million (Q2 2007: - 0,6 m HRK) while Q2 and cumulative earnings per share amounted to HRK 20,8 and 12,2 respectively. Petrokemija currently trades at P/E of 10,2 and P/Bv of 0,8 (on 2007 results).
news flash:
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CROBEX index - Zagreb Stock exchange 0,6%
change in 2008. -33,7%
CROBEX index - Zagreb Stock exchange (chart)
Avg price change for CROBEX members (chart)
market multiples - shares (tables)
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