For today, we are bringing you an overview of the YTD share performance of main index components in the region.
So far in 2019, 11 of 16 CROBEX components have turned green, with Optima Telekom recording the highest increase of 71.6% YTD. The rise in the share price did not only come due to improved results but also due to expectations that HT will have to sell the company by 2021, with the process required to start in 2020. Končar follows, with an increase of 31.8%. On the flip side, Dalekovod was the worst performer with a decrease of 27%. It is worth mentioning that in Q1, Dalekovod observed a decrease in sales of 10.8%, increase in loss of EBITDA by 251.7% and turned a net loss from Q1 2018 of HRK -21.9m to a net gain of HRK 12m.
YTD Performance of CROBEX Components
When observing the components of the SBITOP index, only 2 components are in red compared to the begining of the year- NLB and Intereuropa.
KD Group observed the share price increase YTD, amounting to 69.6%. As a reminder, KD Group sold their stake in Adriatic Slovenica to the Generali Group last year for EUR 245m. Upon the receiving all necessary approvals the deal was finalized in mid-February 2019. Cinkarna Celje follows, with an increase of 18.2% YTD. As a reminder, the company posted a high bottom line in 2018 and proposed a dividend of EUR 28.27, which translates into a dividend of 13% (the highest yield of all components).
YTD Performance of SBITOP Components
When observing the components of the Romanian BET index, one can observe that, so far in 2019, 11 out of 16 components have recorded an increase in share price. Nuclearelectrica observed the highest share price increase YTD of 32.1%, followed by Purcari with 29.5%.
The increase in most index components could be partially attributed to investors regaining confidence in the Romanian market after the recently approved amendments to the tax legislation, lessened the initially expected tax burden, which resulted in poor performance of the index in December 2018.
BRD Bank observed a decrease of 4.4%, as the ex-date for the company’s lucrative dividend (DY 14.1%) has passed.
The worst performing share YTD is Alro, the newest addition to the index, with a decrease of 30.2%.
YTD Performance of BET Components
In Serbia, 7 out of 11 index components have observed a rise in share price YTD. Sojaprotein leads the list in, with the price up 31.4% YTD. However, note that this increase was mostly due to a takeover bid posted by the Victoria Group for the remaining 31.82% of the company. On the other hand, the worst performing share was Belgrade Airport which recorded a decrease of 56.5% as the ex-date for the company’s lucrative dividend has passed.
YTD Performance of BELEX15 Components