Since 1 January 2021 up to date, 2 out of 10 CROBEX10 constituents outperformed the index more than 50% of the times.

For today, we decided to look at how often did each CROBEX10 constituent outperform/underperform the index. The figures relate to from 1 January 2020 to date.

In the mentioned period, the CROBEX10 has observed a solid increase of 8%, while half of the constituents outperformed the index. Of that, all of them observed a double digit increase YTD, with Optima Telekom leading the list with 19.9% and Končar with 18.1%. On the flip side, Arena Hospitality Group and Valamar Riviera noted a decrease of 4.7% and 2%, respectively.

How much did individual constituents out/under perform the index? (YTD) (p.p.)

Among the CROBEX 10 Constituents, only 2 of them outperformed the index more than 50% of the time. To be specific, Adris (pref.) and Arena Hositality lead the list, outperforming the index 52.7% and 51.4% of the time, respectively.

On the flip side, 6 CROBEX10 constituents underperformed the index most of the observed times. Of those, Atlantic Grupa leads the list, underperforming the index 56.8% of the times. However, we note that Atlantic did outperform the index on a YTD basis by 6.9 p.p.

How often do CROBEX10 Constituents Outperform the Index? (%)

The value of last week’s taxable invoices increased by 84% YoY but are still down 14.4% compared to the same week in 2019, according to the latest announcement from the Tax Administration of the Republic of Croatia being tracked for Covid-19 pandemic purposes.

A higher frequency data is compiled by Croatian Tax Administration, a department of the Ministry of Finance, who stated that the value of taxable invoices increased by 84% YoY (or HRK 1.49bn) in the period from 12 April till 19 April compared to same week last year. Meanwhile total taxable invoices in the mentioned period amounted to HRK 3.252bn. It is important to note that last year in this period Croatia was basically in lock-down.

Comparing the same week of taxable invoices to this period in 2019, the value of invoices in 2021 is still down 14.4% (or HRK -546m).

Increase in taxable invoices in wholesale and retail trade in the period from 12 April till 19 April 2021 (last week) was up by 74% (or HRK 1.02bn) to HRK 2.4nn while accommodation and food services increased close to 6-fold amounting to HRK 146.4m