In August 2022, CROBEX increased by 1.6%, ending the month at 2.000,79 points.
Total equity turnover on ZSE amounted to EUR 12.8m (HRK 96.2m), which represents a decrease of 32% MoM and a decrease of 18.9% YoY. This also means that during the month the average daily turnover amounted to EUR 0.56m (HRK 4.2m).
We note that no block turnover was recorded during August 2022.
Looking at the top 10 most traded stocks, they had a turnover of EUR 8.88m (HRK 66.9m), which would account for 69.6% of the total turnover. Breaking this down further, PODRAVKA had the highest turnover, at HRK 11.9m (or 12.4%) followed by Valamar Riviera with 10.4%, ATLANTSKA PLOVIDBA with 9%, HT with 8.3%. and ADRIS GRUPA with 6.3%. This would also mean that the top 5 most traded companies accounted for 46.5% of total turnover on the exchange.
Meanwhile, the largest index on the ZSE, CROBEX, increased by 1.62% during the month and ended it at 2.000,79 points. At the same time, CROBEX10 increased by 2.5% and ended the month at 1.198.30 points. Looking at the CROBEX10 constituents’ performance during the month Ericsson NT had the largest increase at 8.6% followed by HT at 5.6%, Valamar Riviera at 3.5%, Adris at 3% and Arena Hospitality Group at 2.5%. Only 2 companies recorded a decline during August, AD Plastik with a decline of 5.6% and Atlantska Plovidba with a decline of 10.4%.
Performance of CROBEX10 constituents (August 2022, %)
Looking at the YTD performance, we can see that these trends are even more prominent. Again, we had 8 companies recording an overall decline, with Atlantska Plovidba and HT being the only one to record an increase (+7% and 0.8%, respectively). Performance of Atlantska Plovidba happened due to the huge demand for shipping in the period (something that continues to this day, but under higher costs and under higher risks of falling commodity prices due to recession fears, something that influenced ATPL’s performance in August despite good results). On the other hand, AD Plastik recorded the largest YTD decrease, declining by 49.2%, mostly due to the semiconductor shortage which affected the automotive industry during much of 2021, and is still currently affecting the industry, to a somewhat smaller extent. Combined with the fact that AD Plastik has substantial exposure in the Russian market, after Russia’s invasion of Ukraine, the Company recorded some of the largest declines in the Croatia market, something that it still hasn’t recovered from. Following them, we have Arena, which posted solid top-line results in H1 2022, but is still reeling from lower profitability due to higher OPEX, Ericsson NT, which again, had a somewhat positive top line but negative profitability results, and Podravka, which was also affected by the rising OPEX costs.
Performance of CROBEX10 constituents (Beginning of 2022 – end of Augsut, %)
