IC Market Espresso 29 Apr 2021

 
Optima Telekom Q1 2021 Results
In Q1 2021, the company reported a decrease in sales of 3.5% and a net loss of HRK 4.6m

In Q1 of 2021, Optima Telekom recorded a decrease in consolidated revenues of 3.5% YoY to HRK 108.4m.  The company notes that due to the general trend at the global level, revenues from the public voice service in Q1 2021 decreased by 6.1% YoY, while Internet revenues in Q1 decreased by 6.8% YoY due to a smaller user base and increased demand for the Internet via mobile networks. Revenues from data services in Q1 dropped by 7.8% YoY, mostly due to the termination of contracts with one major user of data services. Such a decrease was partially offset by revenues from interconnection, which increased by 21.3% YoY due to the growth of revenues from voice transit services. Furthermore, revenues from multimedia increased by 2.2% YoY under the influence of the continuous focus of the Company’s operations.

Operating expenses reached HRK 107.4m, representing a slight increase of 0.6% YoY (or HRK 613.7k). As a result of the above-mentioned, consolidated EBITDA before one-time items after leases amounts to HRK 26.1m and is HRK 3.2m lower compared to the same period last year. The achieved reduced EBITDA is primarily a reflection of the negative impacts of the application of IFRS 15 and lower own work capitalization. EBITDA margin after leases stood at 24%, which is a decrease of 2 p.p.

Going further down the P&L, operating profit stood at HRK 1.05m, representing a sharp decrease of 81%, which could be attributed both to lower revenues generated and somewhat higher operating expenses.

In Q1 2021, the company reported a net loss of HRK -4.57m, compared to HRK -4m (Q1 2020). The loss came on the back of a negative net financial result of HRK -6m, which can mostly be attributed to a FX loss of HRK -5.4m.

HT Launches SBB Program Worth HRK 600m
The program starts today and will be lasting until 22 April 2026.

HT published an announcement on the Zagreb Stock Exchange stating that the Management Board has decided to launch a new Share Buyback Program with commencement as of 29 April 2021 (today) and lasting until 22 April 2026, as in accordance with the General Assembly’s decision as of 23 April 2021.

According to the new Program, the maximum number of shares intended to be acquired during its duration is 3,000,000, while the maximum amount allocated to the Program is HRK 600m.

The company notes that the SBB will be conducted under the condition that the highest price at which own shares will be acquired may not be above nor below 10% of the average market price per share realized during the previous trading day. We are proud to state that InterCapital Securities will be the broker through which the buyback will be concluded.

The buyback program is another way under which the company is returning cash back to its shareholders. As a reminder, HT has recently approved a dividend of HRK 8 per share (DY 4.3%). You can read more about it on the link, here.

Purcari Approves RON 1.3 DPS
Dividend yield is 4.6%, while ex date is 19 August 2021.

Purcari published the resolutions from the GSM in which the shareholders unanimously approved dividends payment of accumulated profits in the amount RON 26m. This translates into a dividend of RON 1.30 per share.

We note that dividend yield is 4.6%, while ex date is 19 August 2021. Meanwhile, payment date should be on or about 9 September 2021. As a reminder, the company did not pay out a dividend in 2020.

To read more about Purcari, click here.