At the market close yesterday, NLB’s share price amounted to EUR 74.40 per share, noting an increase of 6% in yesterday’s trading session. The strong performance came on the back of strong results, which were above the median Analyst consensus published recently by NLB (you can read it here). Also, yesterday Adris Group published strong results in all business segments, resulting in a 2.3% (pref.) share price increase in yesterday’s trading session, while ordinary shares noted a 5.1% increase.

Yesterday, NLB published its FY 2022 results, which came out stronger than the median Analyst consensus that NLB published recently (you can read it here). Due to strong fundamentals, NLB’s share price surged by as much as 6% in yesterday’s trading session. In short, NLB noted the best year in its history, with growth recorded across almost all geographical segments. NLB managed to increase its Net interest income by 23% YoY (17% excl. N banka), while Net fee and commission income increased by 15.3% (12% excl. N banka). Looking at the bottom line, the company managed to achieve a net profit of EUR 446.9m, which was strongly supported by the negative goodwill from N banka of EUR 172.3m in Q1 but also further amplified by strong business results. Finally, the bank also provided its updated (optimistic) outlook, which is published along Group’s results and you can find it here.

NLB share price performance [YTD, EUR]

Source: Bloomberg, InterCapital

Also, yesterday Adris Group published strong FY 2022 results across all business segments with overall sales revenue growth of 16.4% YoY, and a 36.5% YoY increase in the bottom line. The tourism segment in particular performed extremely well, exceeding not only 2021 in many metrics, but also compared to record 2019. As a result, the tourism revenue increased by 43% YoY, 11% compared to 2019, while the bottom line almost doubled YoY. Further, Adris also recently commented on its massive tourism investment plans. By 2025, they plan to invest over EUR 100m (more than HRK 750m) in Hotel Marjan, while in the overall tourism segment, they plan to invest over EUR 480m (HRK 3.5bn). Overall, this resulted in Adris (pref). The share price increased by 2.2% in yesterday’s trading session. Also, Adris (ordinary) share noted an increase of 5.1% yesterday.

Adris Group share price [YTD, EUR]

Source: Bloomberg, InterCapital Research