Daily comment:
Domestic capital market continues with low turnovers with today’s turnover amounting to HRK 46,4 million while popular benchmark increased by 0,1% to end at 3.640,44 pts. Integrated telecom HT (HT-R-A) posted H1 results today showing 2,1% increase in sales which amounted to HRK 4.193 million. EBITDA and EBIT continue to decrease with both of them falling by 2,4% to HRK 1.932 million and HRK 1.260 million, respectively. Even though the Net profit dropped 15,6% to HRK 1.125 million, this result is largely influenced by one-off gain of HRK 261 million the company made in H1 2007. The company remains strong on cash position, with cash and cash equivalents amounting to HRK 4.271 million or some HRK 52,2 per share. We see the company undertaking 2 actions in the near future: 1) acquisition of 3rd largest Bosnia and Herzegovina integrated telecom HT Mostar, 2) usage of extra cash in a form of: i) extraordinary dividend payout, ii) capital decrease, and iii) share buy-back. The Mayor of Zagreb announced today that the city plans to implement an automated traffic control in the City. The value of the project is estimated at some EUR 50 million (HRK 360 million) with Ericsson Nikola Tesla (ERNT-R-A) taking a leading role in it. The project should be completed in 3 year time. ERNT share ended the day at HRK 2.229, 3,7% up, collecting HRK 2,7 million in turnover. Milling and bakery company CakoveCki mlinovi (CKML-R-A) posted H1 results showing 21,8% increase in sales followed by 51,9% increase in EBITDA, 85,4% increase in EBIT, and 111,6% increase in Net Income. During the Q2 the company sold its stake in milling and bakery company Mlinar (MLNR-R-A) which is the main reason for such an extraordinary result. In Q2 Net Income rocketed 123,7%. CKML share increased 3,6% on HRK 0,4 million in turnover.
news flash:
- US budget deficit seen at $400bn
- Eurozone rates on hold at 4.25%
- German production stalls in June
- Jobless claims up, special factors blamed again
CROBEX index - Zagreb Stock exchange 0,1%
change in 2008. -30,5%
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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 report20080807.pdf, 108 Kb
