Due to an outbreak of coronavirus in Slovenia and strict government measures, Slovenian companies are adapting to work in emergency situations. Here you can find the announcements by the following companies: Petrol, Triglav, Telekom Slovenije and Luka Koper
PETROL
Following the Ordinance on Temporary Suspension of Offering and Selling of Goods and Services to Customers in Slovenia, Petrol closed all of its F&B facilities and convenience stores, with only service stations remaining open.
In terms of work organization, Petrol implemented all measures required to secure the stability of its business and the safety of staff and customers. Moreover, Petrol formed a coronavirus coordination team, which is in charge of protecting employees and preparing plans and policies that are in line with stopping the coronavirus outbreak.
Petrol is taking all actions needed to ensure continuity of its supply chain and operations at all service stations, thus allowing for important supply of energy products across the country.
TRIGLAV
Since Triglav Group is thoroughly monitoring the development of coronavirus epidemic and strictly following measures of the competent institutions, the Company adjusted its operations so that business can be carried out solely through electronic and telecommunication channels. As of 16th March 2020, the conclusion of insurance, claim settlement, asset management services and other services on the Slovenian market are managed on distance. In addition, Triglav adapted its insurance and asset management services to cater to the specific situation on individual markets.
Currently, it is not possible to accurately assess the effect of Covid-19 on business performance due to unpredictable and volatile environment. The public will be informed timely in case of material change in the circumstances or performance estimates of the Group in relation to forecasts.
TELEKOM SLOVENIJE
After the virus began spreading across Europe, Telekom Slovenije started undertaking activities and adopting precautionary measures based on its Business Continuity Management System (BCMS), formed to be initiated in the case of troublesome events. Hence, the establishment of BCMS enables uninterrupted delivery of Telekom Slovenije’s key services in the case of further coronavirus outbreak and possible pandemic.
On 25th February 2020, the Company’s Security Council held an exceptional meeting and agreed on activities in the case of a pandemic. The Company customized the work of its specialists so that they can monitor network operations and guarantee technical support to clients remotely by utilizing the latest technology. Furthermore, special attention is given to cyber security.
Telekom Slovenije is undertaking all the measures aiming at the protection of both employees and users of its services. On 13th March 2020, the Company closed sales centers across Slovenia, directing the clients to use digital channels, while employees are operating remotely from home.
The present situation is a main challenge for the ICT industry, as during the virus eruption telecommunication companies face increased voice, data and video traffic, with 50% above usual circumstances. Nevertheless, so far Telekom Slovenije has been handling this issue effectively.
As a socially responsible corporation, Telekom Slovenije donated to the University Medical Centers in Ljubljana and Maribor ventilators and other equipment for treating coronavirus patients.
Due to the uncertainty of the situation, the company cannot give estimates how long the measures for limiting the spread of the coronavirus at the national level will last. Therefore, it cannot estimate the effect of these conditions on the business results and operations of the company.
LUKA KOPER
Luka Koper notes that due to the complexity of the global logistics situation, they will be able to assess the impact of the epidemic on transhipment and business ex-post, possibly as part of the business reporting Q1 2020, which, according to the financial calendar, is scheduled for the end of May 2020.
The company states that it is impossible to predict the consequences at this moment as shipping companies and other stakeholders in the supply chains adapt their operations to the current situation. It is also impossible to foresee the consequences of the measures taken by the countries in Europe and elsewhere.
Luka Koper is constantly in touch with the shipping companies and all other business partners and they are monitoring the situation and adapting to changes. Work operations in the port proceed normally.
Zavarovalnica Triglav announced yesterday that it was denied the permission to acquire Raiffeisen Pension Insurance Company by Croatian Regulator (HANFA).
Zavarovalnica Triglav informed yesterday that the Croatian regulator (HANFA) rejected the issue of authorization to Triglav Group to acquire a majority stake in the Croatian pension insurance company Raiffeisen mirovinsko osiguravajuće društvo. Triglav informed that this was one of the conditions precedent for the validity of the agreement concluded in April 2018 between Triglav INT and Raiffeisenbank Austria Zagreb as the seller. Therefore, it can be concluded that the transaction will not take place.
The company will amend the conditions of the procedure for an increase in capital of Planet TV to include the sale of the 100% share of the company.
Telekom Slovenije published an announcement on the Ljubljana Stock Exchange stating that after the Supervisory Board of the company was informed in January of the beginning of the procedure for an increase in capital of Planet TV, through the entry of a new partner, the company will amend the conditions of the procedure to include the sale of the 100% share of Planet TV.
As a reminder, in December of 2019, Telekom Slovenije announced that after complying with the decision of the Court of Arbitration of the International Chamber of Commerce (ICC) in the arbitration procedure between Telekom Slovenije and Antenna Slovenia of 31 October 2019, the transfer of 34% share in Antenna TV SL, owned by Antenna Slovenia, to Telekom Slovenije, was entered into the Slovenian Business Register. With this Telekom Slovenije became the sole owner of Antenna TV SL. Parallel with the transfer of the share, Telekom Slovenije, changed the company name from Antenna TV SL to Planet TV.
Dividend yield stood at 4%, compared to the closing share price of day before the dividend announcement. Yesterday, the day after the announcement, share price increased 12.87% and currently the dividend yield is 3.6%.
BVB published an announcement proposing the distribution of net profit from 2019, which will be discussed on GMS agenda in April. Out of RON 6.96m net income in 2019, RON 0.40m (6%) is proposed to be retained for the purpose of building the legal reserves in accordance with the Companies Law. The rest of the net profit, more precisely RON 6.56 (94%) left after setting up the legal reserves fund, is proposed to be fully distributed to the BVB’s shareholders. Note that this translates into RON 0.81 dividend per share.
If BVB holds its own shares at the date of dividend approval, the dividend per share will be recalculated in a way to exclude treasury shares from the calculation.
Below we are bringing you an overview of the Company’s historical dividends per share and dividend yields.
Dividend per Share (RON) & Dividend Yield (%) (2016 – 2020)
In case of the sheets of Romanian origin, produced by Alro, the requested anti-dumping tariff, proposed to be assessed by the US Department of Commerce, is of 56.22%.
Alro published a document on the Bucharest Stock Exchange announcing that they received a notification from the United States International Trade Commission about the fact that a petition for establishing anti-dumping tariffs for certain aluminium products originated from 18 countries, including Romania, imported in United States between 2017 and 2019.
The petition is filled by the US Aluminium Association and is concerning the aluminium sheets with thickness between 0.2 mm and 6.3 mm, made from common alloys (1xxx, 3xxx and 5xxx series).
In case of the sheets of Romanian origin, produced by Alro, the requested anti-dumping tariff, proposed to be assessed by the US Department of Commerce, is of 56.22%.
Alro stated that they consider the petition as unfounded and the calculations behind it as erroneous and intend to vigorously defend its position in front of the American authorities involved.
From the data that it has for the moment, the management of the Company is unable to assess whether the petition will be accepted or dismissed, as, from the data received from the external legal consultant, the process of investigation will be rather complex and will involve a multitude of factors.
Alro adds that from the preliminary analysis performed, it does not appear that the performance of the company will be significantly affected in 2020 by a potential negative outcome of this petition and that the application of any anti-dumping tariff, if it will be approved, will not have a retroactive character.