For today we are bringing you an overview of the share price performance of various sectors in the regional market for 2021 so far.

For this, we observed primarily the median YTD share price performance of companies in our wider coverage from Croatia, Bulgaria, Slovenia, Romania and Serbia.

End of 2020 was marked by a positive sentiment on the regional equity markets, following the vaccine development, while the similar trend seems to be the case so far in 2021 as well, with all observed industries being in green YTD. Observing the graph below, we see that 6 sectors observed a double-digit increase. Of that, the Shipping sector has the largest increase with the median YTD share price rising 22.8%. Of the Croatian companies within our sample, Atlantska Plovidba observed a high YTD increase of 30.1%.

The second strongest performance can be seen in the Energy sector with the median YTD share price rising 17.4% with Romanian company Nuclearelectrica towering over others with YTD gain of 52.3%.

On the flip side, tourism sector observed a slight increase of 0.7% YTD. The companies within our sample are currently traded at EV/EBITDA of app. 81.9x.

YTD Performance of Regional Companies by Sector*

*Median share price performance of regional companies in our wider coverage

Fondul reported a total NAV of RON 10.85bn (EUR 2.2bn), which translates into a NAV per share of RON 1.8166 (+25.2% YoY).

According to the latest NAV report (31 March 2021), Fondul reported a total NAV of RON 10.85bn (EUR 2.2bn), which translates into a NAV per share of RON 1.8166.

When comparing it to the same period last year, their total NAV recorded a solid increase of 13.2% YoY, while NAV per share is up by 25.2%. On a MoM basis, NAV increased by as much as 6%, while NAV per share is up by 6.3%.

When observing the portfolio structure, it remains traditionally oriented towards the power, oil and gas sectors, whereby the two largest holdings, Hidroelectrica and OMV Petrom account for 66.8% of the total NAV. In terms of the Fund’s portfolio structure, unlisted equities account for as much as 73.67%, representing an increase of 1.88 p.p. YoY. Listed equities and net cash and receivables follow with 18.2% (-3.4 p.p. YoY ) and 8.2% (+1.53 p.p. YoY), respectively.

Turning our attention towards the share’s price performance, in March, the company’s share price increased by as much as 12%, while as of 15 February the share price amounted to RON 1.1650. Note that the discount to NAV per share currently stands at 8%.