Headlines
- Albena to Sell its Stake in Albena Invest
- 9M Revenues of Billboard Totaled BGN 20 mln
- Railroad Infrastructure Holding company Signs a BGN 22.5 mln Contract
- IAEA: Nuclear Power Station in Kozloduy is Safe
- Bulgaria's Population toDrop below Six Million in 2050
Overview
Stocks Bounce Back, BG40 Surges 8.5%
Stocks bounced back on Friday providing some relief for investors after falling sharply in the previous sessions. The BG40 surged by 8.5% to 100.34 and the SOFIX rose by 4.83% to 334.46 but both posted double-digit slumps on a weekly basis - the blue-chip index has dropped by 14.6% and the broader index has shed 14.8% since last Friday.
Industrial Holding Bulgaria [4ID; +13.41%] - the most liquid with shares worth BGN 448,025 traded - was among the top gainers. The stock jumped by 13.41% to BGN 1.7. Albena Invest Holding [5ALB; +18.84%] was the top winner, surging by 18.84% to BGN 4.93 in a volume of BGN 42,691. On Friday Albena AD [6AB] said it plans to sell its 47.83% stake in Albena Invest Holding at a price between BGN 7.11 and BGN 10.15 per share to finance the purchase of local company Intersky. The shares of Albena itself added 6.85% to BGN 26.5 in a volume of BGN 9,938.
Monbat [5MB], which was today's second most liquid, lost 6.0% to BGN 3.97 in a volume of BGN 62,412. The company on Thursday announced it plans to lay off 120 of its 870 workers as part of a reorganization of the company aimed at coping with the economic crisis.
Friday's total turnoverin shares was reduced to BGN 1.98 mln from BGN 27.3 mln on Thursday, when it was boosted by a large deal in Petrol AD [5PET].
| Value | Daily Chng | YTD Chng | |
| SOFIX | 334.46 | 4.83% | -81.08% |
| BG 40 | 100.34 | 8.50% | -80.63% |
| BG REIT | 46.39 | -0.73% | -55.07% |
| BGTR 30 | 267.11 | 5.32% | -75.66% |
| Shares Turnover (BGN thnds) | 1 977.09 |
| Bonds Turnover (BGN thnds) | 6.02 |
| OTC market Turnover (BGN thnds) | 1 362.57 |
| market Capitalisation (BGN mln) | 11 606.82 |
| market Capitalisation/GDP | 18% |
| Top Gainers | Ticker | Change |
| Albena Invest Holding | 5ALB | + 18.84% |
| Odessos AD | 5ODE | + 18.76% |
| Industrial Holding Bulgaria | 4ID | + 13.41% |
| Top Losers | Ticker | Change |
| Decotex AD | 4DE | -33.40% |
| EMKA AD | 57E | -21.01% |
| Agria Group Holding | A72 | -19.32% |
* Gainers: Among shares with turnover above BGN thnd 10;
Losers: Among shares with turnover above BGN thnd 4;
Trends
SOFIX (chart)
| P/E, ttm | Value | Daily Chng | YTD Chng | Turnover (BGN thnds) |
| 4.63 | 334.46 | 4.83% | -81.08% | 1 164 |
Corporate news
Albena to Sell its Stake in Albena Invest
Shareholders of Albena AD [6AB] will vote on a proposal that the company offers for sale its stake in Albena Invest AD [5ALB] at an extraordinary shareholders’ meeting scheduled for January 18, 2008. Albena AD, a member of the blue-chip index SOFIX, holds 2.63 mln shares (47.83% of the SH’s equity) of Albena Invest AD and intends to offer them at a price range of BGN 7.11 – 10.15 per share. The shareholders will also vote on a proposal that the company acquires 100% of the capital of Intersky Ltd, which are currently held by Albena Invest, for a total BGN 26.573 mln. The main assets of Intersky are the Lesnovo airport and a license to act as an airport operator.
9M Revenues of Billboard Totaled BGN 20 mln
Billboard [5BP] reported 9M consolidated revenues of BGN 20 mln. The growth of the sales slowed down to 35% y-o-y, from 42% y-o-y in H1 08. Operating expenses rose by 39% y-o-y, faster than revenues, as labour costs continued to grow in Q3, whereas materials and hired services costs were advancing with smaller pace than revenues. EBITDA jumped by 26% y-o-y to BGN 6.5 mln. but EBITDA margin shrank to 32%, vs. 34% in H1. Net income totaled BGN 1.4 mln, up 54% y-o-y, vs. 133% y-o-y in H1.
Railroad Infrastructure Holding company Signs a BGN 22.5 mln Contract
A consortium lead by RVP Koehne, a subsidiary of Railroad Infrastructure Holding company [RA8], have signed a contract to repair Sofia – Karlovo – Zimnitsa railroad section. The amount under the contract is BGN 22.52 mln and the term agreed is 22 months. Shares of Railroad Infrastructure, which raised BGN 12.6 mln through an ipo earlier this year, will start trading at BSE on November 28.
Economy and Politics
IAEA: Nuclear Power Station in Kozloduy is Safe
The International Atomic Energy Agency (IAEA) has A-graded the functioning units 5 and 6 of Bulgaria's nuclear power station in Kozloduy, saying that the modernization of the station worth USD 500 mln had was and that the units were safe. “The team of the IAEA will sum up the results within two weeks and will report its findings to the Nuclear Regulatory Agency”, said Ivan Genov , executive director of Kozloduy NPP.
Bulgaria's Population to Drop below Six Million in 2050
Bulgaria's population is going to drop down to 6,753 million in 2030, and to 5,923 million in 2050, according to the most recent estimates of the European Commission as quoted by the Bulgarian Information Agency BTA. A report of the Commission on the demographic processes and trends in the EU states that in 2006 Bulgaria had 1,37 children per woman, whereas in the 1960s this figure stood at 2,07. Bulgaria's 2007 life expectancy was 76,3 years for women, and 69,2 years for men. In 2030 it is predicted to reach 81,3 years for women, and 75,3 for men, whereas in 2050 it is estimated to be 84,9 years and 79,6 years respectively.
Upcoming Events
Technology & Innovation Corporation Saedinenie AD [5T3]
24.11.08 - Shares from the capital increase of Technology & Innovation Corporation Saedinenie AD will start trading at the A tier of the Unofficial Segment of BSE-Sofia
BG40 Stocks (table)
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Copyright: 2006 Karoll AD. All rights reserved. For further Information please contact Karoll, 57 Hristo Botev Str, 1303 Sofia, Bulgaria |Tel. +359 2 981 13 81, fax: +359 2 986 34 66, e-mail: research@karoll.net, web site: http://www.karoll.net
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Newsletter Daily 2008.11.21.pdf, 284 Kb
