Today, we decided to present you with a brief analysis of cash per share of Slovenian Blue Chip companies.

In November, Slovenian companies published their Q3 results, so we decided to update our cash per share analysis for chosen Blue Chip companies in Slovenia. The analysis is done in order to see the strength of the balance sheet and how liquid selected companies are. This figure, cash per share, as a percentage of a company’s share price, can give us more insight into the company’s strength in returning the money to shareholders (either through dividends or buybacks), paying down debt, etc.

Cash per Share of Slovenian Blue Chips (EUR)

It is important to note that looking solely at cash per share of the company could lead to a misleading conclusion without taking into consideration the company’s indebtedness, which you can find here.

A high level of cash per share indicates a solid performance of the company, reassuring the shareholders that the company is operating with “enough room” and liquidity to cover for any potential difficulties and that the company has adequate capital.

Cash Per Share as a Percentage of the Current Share Price

As visible in the graph, of 5 chosen Slovenian companies, Cinkarna Celje operates with the highest cash per share as a percentage of their current share price of 21%, while their cash per share amounts to EUR 54. Luka Koper comes next with 13% and Krka with 10%.

On the flip side, Telekom Slovenije has the lowest cash per share as a percentage of its current share price (EUR 56.40) of 2.7%. Telekom Slovenije cash per share amounted to EUR 1.5.

As of the end of October, the total financial institution’s loans amounted to HRK 279.3bn, which represents a 2.67% increase YoY and a 0.27% increase MoM.

Croatian National Bank (HNB) published its monthly statistical report on loan placement of other monetary financial institutions. According to the monthly statistical report, as of the end of October, total financial institution’s loans amounted to HRK 279.2bn, a rise of 2.67% YoY and an increase of 0.27% MoM.

The largest segment, the household loans recorded a growth of 4.1% YoY and 0.4% MoM. At the same time, corporate loans recorded a 0.63% increase MoM and a -0.1% decrease YoY. This is the first time in 8 months that the corporate loans have experienced an increase (since February). Looking on the YTD basis, household loans increased by 4%, while corporate loans were down by 2.2%.

Corporate and Household Loans Growth Rate (YoY)

Total loans issued to households amounted to HRK 141.66bn, representing a 4.1% increase YoY (or HRK 5.47bn). The increase comes on the back of the rise in housing loans (10.6% or HRK 6.43bn). At the same time, the government’s subsidizing program also influenced the growth of housing loans, which amounted to an increase of 0.5% MoM or HRK 318m. Consumer loans, which remain at the level of 37.7%  (or HRK 53.4bn) of all household loans, witnessed an increase of 1% YoY or HRK 540.7m.

The household loans growth was partially offset by the lower result of other loans ( -5.0% YoY or HRK -477m) and overdrafts on transaction accounts (-6.8% or HRK 462m). Previously mentioned four segments all together account for 96% of total household loans. Looking over to credit card loans and car loans, the negative trend continues as both segments decreased by -0.6% and 2.2% MoM respectively.

Loans to Households (HRK m)