Today we bring you a concise overview of the trading and developments that happened last week, ending on 21 April 2023.
Croatia
Starting off with Croatia, last week was a quiet one in terms of both the news, as well as the market developments. Besides several companies releasing their 2022 annual reports, the only major news was Končar Group’s dividend proposal, which you can read more about here. In terms of the market developments, last week only saw small single-digit changes. As such, the largest increase on the weekly basis was recorded by Atlantska Plovidba, whose share price increased by 1.4%. Following them we have Adris (pref.) which grew by 1.07%, and Atlantic Grupa, which increased by 0.97%. On the other hand, the largest decrease was recorded by Arena Hospitality Group, with a decrease of 1.6%.
CROBEX10 & its constituents’ performance (14 April 2023 – 21 April 2023, %)
Source: Bloomberg, InterCapital Research
The current week is where the action is, as all the companies have to submit their Q1 2023 results by the end of the week. If you’re interested in when each of the Croatian blue chips will release their reports, please refer to our “Upcoming Events”, available here. At the same time, CROBEX10 increased by 0.30% during the week.
Slovenia
For Slovenia, the story is a little more interesting. Starting off with the weekly performance, Luka Koper recorded the largest relative increase, with a growth of almost 8%. This came on the back of a solid year which allowed the Company to propose a sizable dividend for 2023, more of which you can read here. Following them we have Telekom Slovenije, which recorded growth of 2.8%. No major news came from the Company, but they did announce that their FY 2022 results will be delayed until 28 April 2023.
The main news on the market, however, was the announcement of Cinkarna Celje’s no dividend payment, due to the fact that the Company received energy subsidies, and if they paid out the dividend then they would incur greater material damage to the Company. This resulted in a 5% decrease in the Company’s share price. You can read a more detailed report on this development here.
Also, on Friday, NLB held its Q1 2023 pre-conference call, and you can read the key takeaways here. Meanwhile, SBITOP increased by 0.33%.
SBITOP & its constituents’ performance (14 April 2023 – 21 April 2023, %)
Source: Bloomberg, InterCapital Research
