On Friday, Valamar Riviera announced the transfer of three hotels (Valamar Lacroma Dubrovnik Hotel, Club Dubrovnik Sunny Hotel by Valamar, and Tirena Sunny Hotel by Valamar) to Imperial Riviera.
The transaction of these hotels located in Babin Kuk, Dubrovnik is estimated to be valued at EUR 95.3m. To finance this transaction, Valamar Riviera, in accordance with the decision of the General Assembly of Imperial made on September 10th participated in the increase of share capital by contributions in kind and rights, that is real estate, with the estimated value of HRK 352.8m. At the same time, Allianz funds contributed the amount of HRK 336.9m.
Through this transaction, Imperial Riviera continues to expand its business portfolio, making Dubrovnik a more sustainable, innovative, strategically important tourism concept. The conclusion of this transaction is expected by the end of January 2022.
The hotel-tourism properties and facilities under the Company’s management will be subject to investments in the total amount of HRK 500m beginning this autumn.
Arena Hospitality has completed the transaction of FRANZ ferdinand Mountain Resort Nassfeld in Austria.
On Friday, Arena Hospitality has announced that through its subsidiaries (Sugarhill Investments B.V. and ARENA FRANZ Ferdinand GmbH) they have finished the acquisition of FRANZ ferdinand Mountain Resort Nassfeld in Austria.
This marks the Company’s first winter resort, which complements its existing summer leisure business in Croatia. The Company plans to operate the Hotel in the winter season of 2021/2022.
FRANZ ferdinand Mountain Resort Nassfeld is located next to the valley station of the Nassfeld Ski Resort in Carinthia. The hotel offers 144 rooms, a restaurant, bar, conference rooms, private car park, wellness and sauna, and children facilities. The Company also announced their plan to invest further EUR 2m into the Hotel.
The completion of this transaction in Austria further strengthens the Company’s position in the CEE region. As a reminder, the transaction was concluded at a consideration of HRK 112m, implying HRK 778k per room.
At the end of October, total deposits in Croatia amounted to HRK 361.7bn, up by 11.1% YoY.
According to the consolidated statement of financial position for the monetary financial institutions, which is published monthly by the Croatian National Bank (HNB), total deposits at the end of October 2021 amounted to HRK 361.7bn, representing an increase of 11.1% YoY, and 0.5% MoM. With this increase, the level of deposits has once again achieved an all-time high, continuing their positive trend.
This increase can be attributed to a high increase of 24.1% YoY in demand deposits, reaching HRK 149.2bn, which accounts for 41.3% of total deposits. As of the end of October 2021, total savings deposits amounted to HRK 212.5bn, representing an increase of 3.5% YoY and 0.2% MoM. Local currency savings deposits have remained flat MoM, at HRK 30.6bn.
Foreign currency savings amounted to HRK 181.8bn, a 4% increase YoY. To put things into perspective, as of the end of October, out of total savings deposits 14.4% were in local currency, while 85.6% were in foreign currency.
When looking solely at household deposits, we can see that they grew by 9.4% YoY, 0.8% MoM, to HRK 242.2bn. This represents 67% of all deposits held.
Deposits breakdown (HRK bn)
The Belgrade Stock Exchange reported an equity turnover of EUR 1.2m in November 2021. This would translate to an average daily turnover of EUR 57.2k.
In November, the most traded stock (excluding block transactions) was NIS with a turnover of EUR 312.9k. Next up comes PP Feketić with EUR 275.8k, Messer Technogas with EUR 221.8k, Omoljica with EUR 86.7k, and Komercijalna banka with EUR 60.1k.
BELEX15 experienced an increase of 1.9% (ending the month at 810.12 points). This means that as of the end of November, BELEX15 observed a YTD increase of 8.22%.
Of the index constituents, Komercijalna Banka experienced the highest share price increase of 33.3% YTD, closing at RSD 4,000 per share. Next up, we have Alfa plam, which increased by 33.2% YTD (even though this company has a very low weight in the index of 1.83%). Following them come Jedinstvo and Aerodrom Nikola Tesla, which increased by 24.7% and 17% YTD respectively. Lastly, we have Messer Technogas, which experienced a YTD increase of 17% (while weighing at 10.22% of the index).
On the flip side, all the remaining index constituents observed a decrease in their YTD price. Leading the way in this regard, we observe Dunav Osiguranje with a YTD decrease of -28.4% as well as Energoprojekt holding with a -18.5% decrease YTD.
YTD performance of BELEX15 constituents (%)