Headlines
- Bulgaria's First Solar Plant Ready to Launch Operations
- Net Consolidated Income of Doverie Down 50%
- Consolidated Revenues of Stara Planina Up 5.75%
- Net Profit of Albena Invest Down by 85%
- Revenues of Albena Up 18.5%, Net Income Down
- 2009 GDP Growth Target Down to 1.5% - 2.7%
- 9M Insurance Premium Income Up 23.4%
Overview
Stocks Gain, Petrol AD Boosts Turnover
Stocks gained on Thursday in high turnover, which was boosted by a deal for some 1.75 mln shares in Petrol AD [5PET; -0.34%]. Petrol's share ended at BGN 11.45, down by 0.34%. The stock has recently been the most liquid with turnover in it reaching BGN 98.5 mln last week. The volume traded on Thursday represents 1.6% of the company's share capital. The total daily turnover in shares amounted to BGN 20.5 mln, of which more than BGN 20 mln were in Petrol's stock.
The session was shorter today, as trading was halted by 10:30 and 13:00 local time due to technical problems.
SS Konstantine And Elena Holding [3NJ; +21.37%], surged by 21.37% to BGN 15.36 in a turnover of BGN 14,592. The holding company is among the top liquid gainers for a second day in a row. On Wednesday the stock moved 5.47% higher. Zarneni Hrani Bulgaria [T43; +12.74%], on the other hand, moved to a daily gain of 12.74% to BGN 0.77 after dropping by 9.05% in the previous session. Shares in the company worth BGN 18,306 were traded on Thursday.
The most liquid stocks, apart from Petrol, were Chimimport [6C4; +1.06%] and Synergon Holding [6S7; +7.44%]. Chimimport added 1.06% to BGN 2.09 in a volume of BGN 86,209 and Synergon was up by 7.44% to BGN 2.31 in a volume of BGN 70,871.
| Value | Daily Chng | YTD Chng | |
| SOFIX | 360.16 | 1.79% | -79.63% |
| BG 40 | 107.50 | 2.07% | -79.25% |
| BG REIT | 48.57 | 2.19% | -52.95% |
| BGTR 30 | 279.05 | 1.12% | -74.57% |
| Shares Turnover (BGN thnds) | 20 494.99 |
| Bonds Turnover (BGN thnds) | 60.94 |
| OTC market Turnover (BGN thnds) | 874.33 |
| market Capitalisation (BGN mln) | 11 956.47 |
| market Capitalisation/GDP | 19% |
| Top Gainers | Ticker | Change |
| SS Konstantine And Elena Hold. | 3NJ | + 21.37% |
| Zarneni Hrani Bulgaria | T43 | + 12.74% |
| Neochim AD | 3NB | + 8.15% |
| Top Losers | Ticker | Change |
| Sparky Eltos AD | SL9 | -9.83% |
| Doverie United Holding | 5DOV | -5.06% |
| Lead & Zinc Complex | 5OTZ | -2.70% |
* 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) |
| 4.98 | 360.16 | 1.79% | -79.63% | 250 |
Corporate news
Bulgaria's first solar plant ready to launch operations
Bulgaria’s first solar electric power plant is ready to begin operations, said the plant’s owner InterSol. The plant, which is the largest in Eastern Europe, will generate a minimum of 1.250 MWh of electricity per year. The construction of the plant was completed in one year and it cost some EUR 4 mln. InterSol is a subsidiary of Energy Invest, which is owned by Advance Equity Holding. The portfolio of Energy Invest also includes a wind farm with total capacity of 2,4 MW. Three other wind parks with a total capacity of 13.7MW are under construction.
Net Consolidated Income of Doverie Down 50%
Consolidated 9M revenues of Doverie United Holding AD [5ODOV] advanced by 20% y-o-y to BGN 156.2 mln but earnigs dropped by half to BGN 7.7 mln, the company’s nine-month consolidated financial statements showed. In 2007 consolidated net profit of the conglomerate rose seven times to BGN 16.8 mln. The holding company has stakes in about 50 companies in the textile, food, construction, healthcare, pharmaceutical and tourism industries in Bulgaria. Earlier this year, Doverie sold its minority stakes in four firms as part of portfolio restructuring.
Consolidated Revenues of Stara Planina Up 5.75%
Stara Planina Hold AD [5SR] reported 5.75% higher 9M consolidated revenues of BGN 71.69 mln. At the same time net profit dropped by 21% to BGN 5 mln. In 2007 the bottom line of the company was boosted by BGN 2.6 mln income from operations with financial assets. Yesterday the company announced plans to buy back up to 0.5% of its shares at a price between BGN 1.55 and BGN 2.1.
Net Profit of Albena Invest Down by 85%
Net consolidated profit of Albena - Invest AD [5ALB] dropped by 85% y-o-y to BGN 1.7 mln in the nine months through September, the company’s Q3 financial statements showed. Revenues went down by 20% to BGN 10.8 mln, vs. BGN 13.5 mln a year earlier. Other income slid to BGN 0.9 mln, vs. BGN 10.2 mln at the end of September 2007.
Revenues of Albena Up 18.5%, Net Income Down
Consolidated 9M revenues of holiday resort Albena AD [6AB] advanced by 18.5% y-o-y to BGN 110 mln, the company’s Q3 financial statements showed. Operating expenses grew faster, by 23.2% to BGN 81.4 mln, thus EBIT slightly increased, to BGN 28.7 mln, vs. BGN 26.9 mln a year earlier, but operating margin shrank to 26% from 29% in the same period of 2007. Net income dropped by almost 19%, to BGN 22.2 mln, in the nine months through September. Profitability worsened, with the net profit margin down to 20.2% from 29.4% a year earlier.
Economy and Politics
2009 GDP Growth Target Down to 1.5% - 2.7%
Bulgaria's government will probably lower its 2009 GDP growth target to between 1.5% and 2.7% from a former 4.7% due to the global financial crisis, Dnevnik reported on Thursday quoting unnamed government sources. Respectively, the government is also likely to lower the fiscal surplus target, currently set at 3% of the projected GDP, or some BGN 2.4 bn.
9M Insurance Premium Income Up 23.4%
The premium income of the insurance sector in Bulgaria rose by 23.4% y-o-y to BGN 1.05 bn in the first nine months of the year, the Financial Supervision Commission announced on Thursday. Twenty insurance companies currently operate in Bulgaria. The market is dominated by car insurance policies, which generated 69.5% of total premiums in the nine months through September. The premium income of Bulgaria's 17 life insurers increased by 25% y-o-y to BGN 187.9 mln through September. Life insurance policies generated 73.8% of the segment's total premium income.
Upcoming Events
Kapitan Dyado Nikola AD-Gabrovo [3KN]
29.11. 2008 - Kapitan Dyado Nikola AD will hold a general meeting of shareholders at 10:30 a.m. at its headquarters in Gabrovo.
BG40 Stocks (table)
*****
To view the original document, please click on the link below:
http://reports.aiidatapro.com/BBB/Karoll/Newsletter_Daily_2008.11.27.pdf
*****
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
*****
AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the Information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on Information contained herein.
 | SeeNews SeeNews is a business and financial news and information provider which brings its visitors and customers access to detailed coverage on the fast-growing companies, economies and markets of ten Southeast European nations. |
Search for: news |
Search for: deal |
Search for: market |
Search for: assets |
Search for: share |
Search for: company |
Search for: chart |
Search for: holiday |
Search for: Bulgaria |
Newsletter Daily 2008.11.27.pdf, 284 Kb
